Project X was a community-driven, decentralized exchange application project on the Radix network but has since relaunched as DeXter.
- Community Involvement
- Tokenomics and Earnings Sharing
- Decision Making and Governance
In an effort to promote the ideals of Web3, the founder of AlphaDEX initiated Project X to extend the capabilities of AlphaDEX and to create a fully fledged exchange app for Radix. The project aims to incorporate the key features of centralized exchange apps, providing functionalities such as limit and market orders, live price graphs, orderbook details, user order history, and historical reports of trades and transactions. While the initial vision is for a web-based application, plans to extend the project to mobile versions are also considered.
Project X is designed to be a community project, with contributors from various fields welcomed and encouraged to participate. These contributors range from UI/UX designers, front-end developers, full-stack developers, community managers, project managers, and marketing enthusiasts, among others. The project promotes an environment where anyone with a skill set that can aid the project is welcomed to contribute.
Tokenomics and Earnings Sharing
To incentivize contributors, Project X employs a unique tokenomics system. The project issues tokens that represent a share in the earnings of the project. Periodically, these tokens are distributed to those who have contributed to the project over that period, allowing contributors to accumulate tokens over time. These tokens entitle holders to a share of the income from every trade on AlphaDEX that originates from Project X users, distributed on a regular basis.
Decision Making and Governance
In the spirit of decentralization, decision-making processes within Project X are also community-driven. For token distribution, anyone can nominate contributors to receive tokens for a given period, with final allocation determined by the proportion of total allocation points allocated to each of the nominated people.
Project X represents a significant step towards achieving Web3 ideals, offering an innovative approach to app development that is decentralized and community-driven. By creating a fully functional, decentralized exchange app on Radix, Project X aims to provide a platform that is not only built by the community but also benefits the community.