$10,000 XIO Token Ideas Competition? #XIOfeedback

This month, the XIO Foundation will be submitting our official 2021 Q1 Token proposal to the community. This proposal will list three different token concepts with one going on to development/launch in 2021.

However, what if we also included a token inside this proposal that was inspired by the community?

This video above outlines a fun competition that would reward people for providing token ideas and allow us to explore our new snapshot.page

Let us know your thoughts and how you would structure the competition!

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Some time ago you asked on twitter “what’s holding us getting into crypto fulltime?”… I think I responded timidly with “not so much of opportunities around me”… Well, If I do not get involved in this community driven token brainstorming I feel like I’ll regret it for the rest of my life. I would gladly present any idea I feel is worth something and can’t wait to see how far the creativity of this wonderful community can go. Count me in :wink:

PS. I really look on your proposal more as a brainstorming than a competition and the incentive is just a bonus. Let’s have some fun!

XID-B396E

#XIOfeedback

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I like the idea so far, something like this came up in the telegram group last week,
For the moment i dont have a token idea, I have a vague idea inspired by XIO but its not something tokenizable any time soon, Its more of a personal venture that could expand eventually mabye.

I like this idea of putting the idea out to the community for a new token. Its very much in line with the community feel at XIO. So i’m on board with this for sure.

I think the round structure , be it 4 ideas, 8, 16, should depend n the feedback, mabye theyre will be 8 really cool ideas all worth considering.

My initial thoughts on the reward would be, on the lower end of the scale, 1/2 000 usd in XIO. for the shell idea, but similarly to how we have credits here for social posting, people who add value in developing the ideas out along the way could also earn XIO for their contributions in developing ideas.

Mabye we will have two ideas for tokens that are promising, and could be merged together to make one super token!

In essence, at the early stage of the idea, i wouldnt make too rigid a structure for the competition. keep it light and changable, and dont overpromise rewards, I think people will get on board here and put the time and thought in regardless.

XID-aF60F

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Hey.

I really like the idea.
It pushes forward the incubator thing and is indeed a smart marketing competition.

I guess lot of people would actually join. Lot of us don’t know code or do not plan to get invested full time in a project so could share there ideas. Of course some will keep it secret but that would be a minority.

I’m wondering if the reward system could include a win/lost option.
Like “you get 5k if your are the finalist, and 5k more if you are the selected token to be launched”.
i’m wondering too if the one who proposed the idea should be integrated later in the project if the project is decided to be launched. Or maybe instead of 5k XIO like in my previous statement, he/she could get 1% of the tokens of its project when launched, as a recognition of the value of its idea.

About the contest : I guess we need strict ways to understand and compare the project.
I’m not sure the name and the logo are important, I would focus on ideas and strategy:

  • problem solved?
  • how do you describe your solution in one sentence?
  • what would it need to success?
  • etc.

Something that could have been cool:

  1. The team select 8 projects among a lot
  2. The 8 selected projects create a 1 minute video (all with the same format) showcasing there idea.
  3. People vote for them.

I like the idea of battle, I’m just unsure of the timing: do we have time to do that ?
Or maybe it’s one battle a day. So it’s 4 days for the first round, 2 days for the second and 1 day for the final: One full week in total.
That could fit if it’s done very quickly, but if we let too much time for the people to read about the project it won’t.

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I have many ideas but very little technical abilities so this would be awesome for me to contribute! Where do we submit our ideas?

I like the idea I think it’s great.
I like the structure, where the XIO developers will pick the top 8 projects and then the community chooses from that. This will ensure that we get a nice filter and will be choosing only tokens that the developers know they could make.
I have an alternative idea for the rewards. What if the rewards were proportionate to how many people voted? I think it should make a difference whether 1000Xio voted for the number one project or 10000. So maybe 1% of total votes?
We could also add a cap to this possible reward of max 5000usd worth of Xio.

I agree with this 100%. Some people might be terrible at naming or coming up with logo, but have a great idea. We don’t wanna penalize them for that. What matters is the idea and it’s value. We can come up with a good name and logo later as a community.

How will we incentive people to vote?
I know it’s for their own good as it affects which tokens, we will make but we know that doesn’t always mean people will do it.
Will voting be part of XSI? Will it give credits? Maybe one credit per vote? Or three? (Is it a equal a low effort comment?)
I would probably suggest 3 credits per vote. As one might seem to low.

I think the idea is creative and can result in at least community engagement and at best an actual good base for a new token.

I would say that the number of proposals should be flexible, between four and 16. There really is no point in including anything the Team is not at least excited about in some way and we could end up with only a few good ones.

The winner could win $5000 in XIO and the runners up $100-$500.
If the winner’s proposal actually becomes a token I think that another reward should be offered as well as an offer to join the development team for that token, if the creator is interested.

I would suggest keeping this in-house if possible to not leak the proposals outside of the XIO community.

I like the idea of the competition picking the next token and not the team. If it worked you could move to this system for future releases. It could create an automatic system of picking the next token to enter the studio. If the team came up with an idea they could also drop it into the competition and see what happens.

I love the Idea! I think this is the way to do the “walk the talk” approach with the citizens!

Would we team up in groups to present our ideas? Is it possible?

The snapshot didn’t capture my XIO’s at LP, there is some way to add LP tokens as voting powers as well?

Maybe not per vote, B/C I think the votes will be according with our XIO holdings, but per interaction perhaps…

Yeah per interaction sounds good too.

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I think a competition could have serious viral potential if it is marketed in the right way! I think what a lot of people find as a stumbling block to actually creating their token/project/business is a lack of ‘technical ability’. By that I just mean that people think because they are not a coder, they think that the first step is just too much, as they have to trust a 3rd party to actually build out their idea… But this is obviously where XIO comes in, and where I think XIO could find the ‘niche’ within the space…

One thing is that I think people from outside XIO would have worries around their ideas being stolen, so I think that if there was a submission phase, with a disclaimer/contract that XIO could not proceed with any idea without the approval of the ‘creator’… This would be done in private, not public, unless the creator decided to share some details themselves… The submissions are whittled down to 8/10/16/20 finalists, chosen by the team themselves, and from there it goes to a vote for the XIO holders… The finalists would all receive some XIO for their entry, and obviously the one who receives the most votes would go forward for launch and receive a winning amount of XIO…

I really think that if we pushed this in Facebook/Twitter/Telegram/Discord groups, we could actually see a huge amount of interest, if the rewards are worth it, this is actually one of the reasons I would be in support of having a pretty considerable reward…I really think this could have viral marketing campaign written all over it!

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Really liked the idea!

1.A community driven project would go a long way, its the use of gamification which really excites me. We should select top 5 projects and they should compete with each other in the round robin manner. Vote 1: Idea 1 vs Idea 2, Vote 2: Idea 1 vs Idea 3, …
so there will be total of 10 voting rounds. The leaderboard should be revealed only after all the rounds get completed to negate the voter bias. Voting for each round should last for 24 hours, which is 1 vote/day. People will be glued to see their idea win. The voting schedule should be revealed a day in advance and we should let people set reminders for their favourite rounds/days.

  1. Its really thoughtful to get people to vote without getting them to pledge or spend GAS, it is more inclusive. The snapshot interface is really cool and is transparent to voters. The ranking gives you urge to hodl more and increase the voting power.

  2. The prize money should be 10,000 USD in XIO equivalent. But it should be distributed only in phases basis the execution roadmap. The underlying principle is to create many more such projects from LOGO to LAUNCH and to SUCCESS… may be initial 100-500 usd can be given for the idea

  3. I would like to propose the idea - “Earn your health” for the community vote.
    It will be tokenization of health-related activities eg: running, gyming, swimming, etc. The workout would be proportional to the number of tokens. There can be rewards for group goals. Health tokens will be redeemable for medicines/consultations. Digital wearables would be used to collect data and convert to equivalent token amount.
    The entity will sell merchandise (white labelled or branded), have partnerships with medical services for discount to users, insurance agencies, rent fitness equipment from the app, etc, will also receive grants from governments for promoting good health initiatives. The users will earn health tokens for keeping healthy.

Looking forward to cast my vote.

XID-4f7BD

I like the idea. But let’s not force it.

XIO is still going to be a new starter incubator right? If the ideas are there and a use case for a new coin is presented then let it be the test run for the XIO incubator. Let the community decide if it’s worth the investment and if so then go for it.

1st community driven token launched on the brand new XIO incubator!

My worry would be making a token just for the sake of it just to say there was community involvement.

I think keeping it as simple as possible, bracket competition, is a great idea. This removes complexity from most other voting systems, and doesn’t overload people having to rank or sort many choices all at once. This makes people critically think about 2 choices and forced to only pick one as the better choice. I would go with either 8 or 16 total brackets to start with.

I think we need to define exactly what each milestone step could be in a road map and then work backwards from there to apply XIO rewards values. I think the final step of launching should have a slightly higher value than all earlier steps due to an idea being good enough to be executed all the way through.

We also need a very clear and specific way we want people to submit their ideas so they can be “officially submitted” for consideration and all that.

I like that this will help get our community’s brain juices flowing and will be a fun competition to let us discuss in the chats which ideas are better and why.

That is a great idea.
Trying to get back on your questions.

1)Change?
I am not a fan of the tournament style.
That is because tournaments are single round competition where you evaluate two versus each other. While A could be preferable to B it does not mean that A is also preferable to C just because B is.
In that sense I prefer to have a common ground for simultaneous evaluation of all ideas.
One suggestion is to weigh in the contributors XSI participation.
I would also like to have some evaluation that favors differentiation from the three given tokens. Say we have three smart contract tokens, it would be favorable with a very different problem solver.
Just any due diligence that is different to VC funding evaluation and more in the spirit of XIO.

2)To me it’s a Winner takes it all. That is the fourth spot. No restrictions on adding ideas to the backlog or having three iterated additional enrollments in next competition.

  1. Rewards: Not in favor of money. % of tokens or dev time or grant one wish without commitment to fulfillment.

  2. Would I? Yes.

This is a good idea to allow the community to brainstorm and bring about smart ideas to build a project in the token studio. I was think we could just make the citizens reward the selected ideas by flashstaking on the creators but the downside to this is the fact that the person who may deserve the reward the most might not be the one lucky enough to get the chunk of the flashstake as individuals would be staking varying amounts of XIO. So i think we should just draw out the best 5 ideas and see the thoughts of the community about them and then the winner gets rewarded by the team. A 1000$ is more than enough for this course imo.

Yeah good point there about getting a disclaimer not to proceeded without the consent of the creator. I think this is one issue that can scare a lot away but a good disclaimer or contract will definitely make things ok.