With over fifty applications to the XIO Blockchain Startup Incubator, we are excited to officially announce our first two nominations.
- 0:00 Introduction
- 3:20 The Startups Revealed
- 5:17 Overview of Uptrennd
- 6:30 Overview of Opacity
- 7:25 Article Breakdown
- 9:25 Uprennd Analysis
- 18:19 Opacity Analysis
- 27:53 XIO Drop Proposals
- 28:26 1UP Drop Proposal
- 32:06 OPQ Drop Proposal
- 35:32 Closing
Uptrennd.com + Opacity.io
The startup with the most amount of votes from XIO Citizens (polls open December 6th, more details in follow up article) will be accepted into the Incubator. The remainder of this article will breakdown:
- Overviews of the two nominated projects
- Analysis we discovered during due diligence
- Questions we still have for the projects
- XIO Drop Proposal and Offer to XIO Citizens
After reading this article, there will be a two-week window for XIO Citizens to assist us in the Due Diligence process. We need your help here for collective questions. Dive deep into your research. Don’t hold anything back.
The top questions will be compiled and asked in individual video interviews with each founder. You can submit official questions on Reddit, Facebook, Twitter, Youtube, or here directly on Medium.
In addition to official questions, we encourage you to join the startup’s social channels to ask questions and interact with the teams directly.
1) Uptrennd: Social Media, for the People
Below is a quick video about the story of Uptrennd followed by some of the questions answered through the XIO Incubator Listing application.
What is Uptrennd?
Social Media, For The People
What is the number one problem Uptrennd is solving?
Traditional social platforms treat users like disposable commodities by selling data, censoring information, and paying them NOTHING.
What is the solution Uptrennd is providing to fix this problem?
Uptrennd is a platform that allows people around the world to earn a thriving income, while maintaining the security of data and freedom of speech. We redirect the profits back to the users. We don’t store data. We don’t censor based on bias.
How does Uptrennd Work?
On Uptrennd, you will be rewarded every time your post or comment is upvoted, and you retain full control of your private information and data. Uptrennd is a movement to shift the wealth and power from the corporations, back to the people.
What is the big-picture vision of Uptrennd?
We aim to become a household name in the social sphere. We will also be the first social platform to be both owned and hybrid-governed by the users. This will be possible through a security token offering and a hybrid-dao model.
How many people are working on Uptrennd?
30. We believe in execution. Not false promises made by big names. The proof is on our website.
What blockchain are you building on?
Ethereum
What phase is Uptrennd in?
Working Product
How long have you been working on this project?
It has been live for nine months
Why do you want to join the XIO Incubator?
Community is the most powerful factor for growth
Please provide your CMC link of applicable.
https://coinmarketcap.com/currencies/uptrennd/
Please provide a direct link to your token contract.
https://etherscan.io/token/0x07597255910a51509ca469568b048f2597e72504
Links
Uptrennd Analysis
In addition to a flat out the exponential surge of growth over the last few months, here are the top three reasons we nominated Uptrennd.
1) Trust with Founder
From a personal standpoint, the founder (Jeff Kirdeikis) and I have known each other/worked together in the crypto industry since 2017. Through this time, we have built a personal relationship and trust in each other’s character and work ethic.
More than good ideas, we aim to support good people at XIO. Jeff and the leadership team he has built around him fall into this category.
2) Community Focused
From BOMB to XIO, we know a community is everything. While many projects in the space struggle to build community, the energy and culture of the Uptrennd project is already lightyears ahead of most projects.
We encourage you to join their social channels and experience this contagiously positive community for yourself.
In addition to managing Uptrennd, Jeff manages Cryptocurrency Investing Network, the largest network of online cryptocurrency enthusiasts with over 500,000 members. They know the community and how to foster engagement.
3) The Shift to Deflation
While observing the boom of Bomb Token (world’s first deflationary currency) and the tokenomics we put in place, Jeff and his team made a conscious effort to turn 1UP tokens (1UP) into a deflationary currency.
To show their confidence to deflation, Uptrennd has commited burned millions of their own tokens.
More than a one time burn, Jeff and the Uptrennd team already have a unique locking system in place and are actively implementing consistent deflationary mechanisms. Details for this will be explained more clearly during my video interview with Jeff.
Uptrennd Questions
Here are some of the questions want to get more clarity on with Uptrennd during this Due Diligence period. We encourage XIO Citizens to also add your questions.
- Differentiator: It seems that nobody has cracked the code on social crypto at scale. What will differentiate Uptrennd over the other crypto social sites like Steemit and (soon to be) Voice?
- Tokenomics: The function of a token within an ecosystem is extremely important to the long term health of a project. What is the updated roadman on the tokenomic structure(deflationary mechanisms + locking system)
- Circulating Supply Distribution: With such a large amount of tokens held out of circulation, what are the systems and expectations for bringing these into circulation?
- Product Development: What is the focus over the next 6 months from a technical perspective? What feature or development is the community most wanting?
- Censorship Values: Being anti-censorship is a very amazing goal, but sometimes hard to navigate. We would like to get clarity on how Uptrennd aims to stay censorship-resistant over time as a Web 2.0 website and what are the criteria of prohibited/accepted content.
Opacity: DropBox for the Decentralized World
Opacity has a massive goal and opportunity to become the DropBox of the decentralized world. Below are some of the questions answered by the Opacity team through the XIO Incubator Listing application.
What is Opacity?
Zero-knowledge file sharing and storage platform with no personal information required.
What is the number one problem your project/idea is trying to fix?
Traditional cloud storage providers require personal information including email, credit card, and a personal address. With the growing amount of data breaches happening every day, merely retaining this data creates personal risk for consumers and businesses.
Based on this problem, what is the solution you are proposing to fix this?
Our users manage file storage and sharing with a personal handle, similar to an ETH private key. Because we never ask for personal information, this provides complete privacy for all files stored and shared with Opacity. Additionally, by using zero-knowledge encryption, the files are 100% controlled by the user and Opacity members can never see or access them.
In 10 years from now, what needs to happen for you to consider your project/idea a success? Share your big vision for the company/idea.
Our vision is bigger than just being the next Dropbox. We already have community members building privacy-centric applications on top of our API. By becoming a secure and private data provider, we can provide streaming services such as Youtube; we can provide photo sharing such as Imgur; we can provide real-time communications such as Telegram, and we can provide social media sharing and discussions such as Facebook or Reddit. Our platform is already centered around the privacy of the user account and data storage. What we do with that has infinite use cases.
Please share a link to your github if applicable
How many people are currently working on this project idea?
9
Please the LinkedIn accounts of any/all your team members
https://www.opacity.io/team-page
What blockchain are you building on?
Ethereum
What phase is your project is in?
Working Product
How long have you been working on this project?
Since December 2018
Why do you want to join the XIO Incubator?
We believe working with the XIO incubator, we will receive important connections, support, and exposure to help us accomplish our goals.
Please provide your CMC link of applicable.
https://coinmarketcap.com/currencies/opacity/
Please provide a direct link to your token contract.
https://etherscan.io/token/0x77599d2c6db170224243e255e6669280f11f1473
Links:
https://telegram.me/opacitystorage
https://www.reddit.com/r/Opacity/
https://twitter.com/Opacity_Storage
http://www.youtube.com/c/OpacityStorage
Opacity Analysis
After connecting with the Opacity team three months ago, here are the top three reasons we nominated their project.
1) Backstory, Transparency, and Resilience of Company
Opacity has one of the craziest backstories I have come across in the space. In fact, Opacity was created by members of an entirely different company that some of you may remember called Oyster Pearl.
Despite a massive setback in the early stages and lack of ICO funding, the team pushed through a rebrand and have kept their vision alive.
With any obstacle in this space, transparency is key; and Jason and his team have been exactly this. If you ever join their telegram channel, you will often find Jason in a long, in-depth, conversation; answering questions where possible.
This type of leadership and resourcefulness is exactly what all startups in the space need to succeed.
2) Active Product Development
We have all seen the massive blockchain companies who raised millions of dollars that still haven’t launched a product. Opacity is not only live, but has active users on the platform storing files.
It seems like each month they have a new update to the application.
3) Open-Mind to Changing Tokenomics
When we originally connected, the tokenomics of OPQ were a slight a question mark. However, in the last several months, the Opacity team has shown an open-mind to new ideas on adjusting the dynamics of OPQ by introducing burning and staking mechanism.
Just this week, Jason (founder of Opacity) started a private group called the Opacity Economic Advisory Board with a focus on how to optimize the token for long term health and value; native to its ecosystem.
We believe this focus and attention to alternative system is extremely needed and exciting for token holders.
Opacity Questions
Here are some of the questions want to get more clarity on with Opacity during this Due Diligence period. We encourage XIO Citizens to also add your questions.
- Credit Card vs. OPQ Token: Jason and his team made the tough but needed decision to accept credit cards for their service. We have spoken in great lengths how this was needed for the cashflow of the company to maintain the project. At the same time, we are looking for longer term clarity on the balance of crypto (OPQ) vs. fiat options as this will certainly impact token health and sustainability.
- Behind the Tech: In our initial conversations, the Opacity team explained there is a longer-term roadmap and plan to the decentralized file storage system. We need to get more clarity on where the files are currently being stored, how they are being stored, and who are the partners behind the project. If Amazon AWS goes down, will users files be accessible?
- File Sharing vs. File Storage: In recent conversations and company updates, it seems file sharing may actually be the flagship product people are gravitating towards. We would like to get more clarity on the market size of each and where the future scalability/business model lies. Are we are the mercy of the adoption and growth of the blockchain industry? How big is this market exactly?
- Long-Term Storage Pricing: How exactly is Opacity so much cheaper than the alternatives out there? Is this sustainable over the long term?
The XIO Drop Proposals
One of the items we are most excited about with the two startups is just how different the XIO Drop Proposals are. One XIO Drop has a lower interest rate offer, but a much larger (infinite actually) amount of tokens offered to Citizens. The other XIO Drop has a large interest rate, with lower total tokens made available.
We really have no idea which way Citizens will vote, but it will be fascinating to watch unfold. Here is a breakdown of the Uptrennd + Opacity XIO Drop proposals
XIO Drop Proposals and Ratios are subject to change up until the voting period begins (12/6/2019)
Uptrennd XIO Drop Proposal
- Number of tokens (1UP) offered: infinite
- Amount of Time Portal is Open: indefinite
- Requirement to Participate: Must provide proof of sign up on Uptrennd.com (this will be done by commenting on a post with your ETH wallet address)
- Exclusions: The maximum amount of stake per wallet is 250,000 XIO
- XIO-1Up Drop Ratio: Details below
Uptrennd XIO Drop Ratio
For every $100 of XIO you stake per month, you will receive $5 of 1UP tokens per month. For example, if:
- The price of XIO is $0.01
- The price of 1UP is $0.001
- You stake 10,000 XIO ($100)
- You will receive 5,000 1UP ($5)
- You will receive your 10,000 XIO back at the end of the XIO Drop
XIO Drop Proposals and Ratios are subject to change up until the voting period begins (12/6/2019)
Opacity XIO Drop Proposal
- Number of tokens (OPQ) offered: 200,000
- Amount of Time Portal is Open: Until no more OPQ tokens remain available
- Requirement to Participate: Must whitelist your Ethereum wallet by attaining a Basic, Professional, or Business package on Opacity.io
- Exclusions: The maximum amount of OPQ reward per wallet is 10,000
- XIO-OPQ Drop Ratio: Details below
Opacity XIO Drop Ratio
Depending on the Opacity Storage package you own, you will be rewarded at these ratios.
- Whitelisting a basic account, you will get 0.25 OPQ for every XIO you stake
- Whitelisting a professional account, you will get 0.5 OPQ for every XIO you stake
- Whitelisting a business account, you will get 1 OPQ for every XIO you stake
For example, if:
- You have a Pro account
- You stake 10,000 XIO
- You will receive 5,000 OPQ
- You will receive your 10,000 XIO back at the end of the XIO Drop
XIO Drop Proposals and Ratios are subject to change up until the voting period begins (12/6/2019)
XIO Citizens — Let’s Show the World Our Value
One interesting parallel with both startups; neither of them performed an ICO. While this wasn’t the intention during our application process, it does show how much we relate with and believe in the future of the XIO model.
While we at the XIO Foundation have put in a great amount of work to get to this launch, the future of XIO is solely dependent on the participation, engagement and energy of Citizens.
To help us recruit future startups into the incubator, we need to show the world the power of our community. We need to show that our Citizens are high-quality individuals that offer more value than just token holders.
If you want to help XIO Network and support our vision, we need you to get truly involved and engaged with our XIO Startups. At the end of the day, this is still a business, and we will be judged based on the awareness and value we can provide founders and their projects.
Holding a token does not add much value. Asking questions. Providing feedback. Registering for accounts. Engaging on social. All these small things add up to a powerful community presence that good ideas need to succeed.
These startups have taken a leap of faith in XIO in taking part in the initial batch. Let’s go show them our appreciation.