Double (DBL) Token

Name of Project

Double (DBL)

Ticker for Token


1) In one sentences or less, describe your token. This isn’t the time to get wordy, just to the point!

Double up your tokens by locked staking for 11months

2) Do you have a video to introduce yourself or explain the token? Upload it here and share the link here. (Not required)


3) Do you have a logo for your token? If so, upload it here. (Not required)

None. Unfortunately I am not great with graphic designs.

4) How does your token work? Be as detailed as possible

Double is a store of value token. By using this protocol, you are locking your tokens for a full 11months and in return you will receive a double up on your tokens (hence the name Double) when the stake unlocks.
This high yield is important to attract long term stakers, as without it there will be no incentive to stake for 11months.

How it works:

• Total circulating supply at genesis will be 24million
• Protocol has 12 staking pools representing the 12 months of the year. The name of each pool is to be decided during branding, but for simplicity I will refer to them here by the month they represent.
• Each pool will only hold a maximum of 2million tokens. The capacity of each pool will double each year to keep in line with inflation.
• All 12 pools will be open from Token genesis. Each pool will lock on the last day of the month it represents and unlock on the 1st day of the same month a year later. For example Pool July will lock on 23:59 July 31st 2021 and reopen on 00:00 July 1st 2022.
• Essentially each pool is open for 1 month to enable time for it to get filled and then remains locked for 11months.
• The 1 month gap between pools locking and subsequently unlocking is critical in this protocol to control inflation when pools start to unlock 1 year later.
• Stakers can choose which pool to enter and they can enter and exit any pool they wish as long as the pool is still open and not full. There will be no benefit for entering a staking pool early, other than reserving your place in the pool if your wishing to stake and not miss your place.
• Once a pool is locked, any tokens staked within it also become locked and cannot be unlocked until the pool unlocks a year later. No early withdrawal allowed.
• When the pool unlocks next year, It will unlock with double of what it contained when it locked. So if pool July locks with 2million tokens, it will unlock with 4million tokens (every staker is doubled up). This pools capacity is now 4million. If pool August locked with 1.5million tokens, it will unlock with 3million tokens. This pools capacity will still be 4 million however. Each pools capacity doubles each year, regardless of whether it gets filled or not. This will mean in year 2, there is likely to be more staking capacity than token supply, creating a greater deflationary pressure.
• At the end of month 12, all 12 pools will be locked. At the start of month 13 the first pool reopens and stays open for 1 month allowing stakers to unstake and creating space for new stakers to stake. It locks again on the last day of the month and the next pool opens.
• So at the start of year 1 all 12 pools are open, and close 1 by 1 each month. At the start of year 2 and all subsequent years, all 12 pools are locked and open 1 by 1 each month. This allows for controlled inflation as 1 pool is locked before the next one opens.
• Theoretically all 12 pools can get filled which means 100% of total supply can be staked. I believe this is the first protocol to ever allow 100% of total supply to be staked.

5) What problem is your token aiming to solve? How will this positively impact the crypto industry?

  1. Trying to uncorrelate from bitcoin and be a true store of value. If this protocol is a success in year 1 and majority of supply is staked, I believe in year 2 this asset can uncorrelate from bitcoin as it becomes a store of value and investors buy to stake for longterm.
  2. Trying to change the mindset of crypto investors. For too long now crypto investors have wanted to become millionaires over night. Buying and selling tokens in a short space of time resulting in volatility in the markets. By locking up your tokens for a year, you are accepting that your investment is for the long term hence creating a longterm investment mindset.
  3. Reduce volatility. With there being a theoretical chance of 100% tokens being staked by end of year 1, I believe the volatility for this token will be greatly reduced from year 2 onwards.

6) What was the inspiration of this token? How did you think of it?

I have a great interest in cryptocurrencies ever since I got into the space in 2018. I don’t have any coding experience but I do have many cryptocurrency ideas that I have developed over the years. This is one of the more simpler ideas I have which I believe is suitable for the XIO token studio as it wont take very long to build. This idea came to me when I was watching a video by Zachary discussing uncorrelated assets. This got me thinking and designing uncorrelated asset concepts which eventually led me to $DBL.

7) Are there any projects out there doing something similar?

I don’t believe there is

8) What phase is the token in? Explore vs. Build vs. Launch vs. Scale. (If there has been no coding yet, your token is in the explore phase)


9) Will this token be inflationary, deflationary, fixed, or dynamic token supply?

Inflationary. All tokens are created at geneseis. First year is deflationary as tokens get staked. Second year is inflationary as tokens are unlocked. If first year is a success, I would expect users to stake in the second year also, therefore maintaining a strong deflationary pressure.

To control inflation, every 5 years there will be a Token redenomination event, where the total supply is divided by 10 and the token value is multiplied by 10 – explained in more detail later.

10) How long do you think it would take to build a minimal viable token?

Around 2.5months

11) What skills do you have that would help bring this token to reality? (ex: Marketing, Development, Branding, etc)

I believe my greatest skill set is my vision of the blockchain world. I have many ideas and concepts and believe I can add a visionary value. Unfortunately I don’t have any coding knowledge or marketing/branding experience. However I am more than happy to try and market this token and learn on the job.

12) Are there any inherent weaknesses or obstacles to building this token? Any items you still need to figure out?

I have explored this idea fully and there was weaknesses with my original design. But I believe in its current stage this token model is strong. But I am more than happy to revisit certain areas of the token concept the team thinks I need to improve upon.

If you want to share your Twitter/Telegram handle here for people to reach out and discuss this idea with you, post them below.

Twitter: @CryptoGuy_Daily

This is where you can put anything you want that was not directly asked above! Anything and everything related to your token idea can go here. Any files, links, info, etc

As the token price appreciates against fiat, the rewards for using this protocol will be far greater than simply a double up of your tokens. The ability to compound year on year makes this a great long term investment. Here is a simple 10year calculation of how this protocol would work:

Year 1: Stake 10,000 DBL. (Investment $1,000 - assuming 1 DBL =$0.10 to keep maths simple)

Year 2: 20,000 DBL balance. Restake

Year 3: 40,000 DBL. Restake

Year 4: 80,000 DBL. Restake

Year 5: 160,000DBL.

Redenomination event takes place. Total supply is divided by 10 and token value increased by x10 (maintaining same portfolio value and token market cap).

Year 5 Portfolio token balance readjusted to 16,000 DBL

Year 6: 32,000DBL. Restake

Year 7: 64,000DBL. Restake

Year 8: 128,000DBL. Restake

Year 9: 256,000DBL. Restake

Year 10: 512,000 Redenomination event. Portfolio token balance readjusted to 51,200 DBL

Here is an example of total circulating supply increasing. These numbers are the theoretical maximum supply assuming 100 % of tokens are staked. It is highly unlikely 100% of tokens will be staked and therefore the total supply is likely to be far less than the below example.

Year 1: 24mill. Assume token value $0.10

Year 2: 48mill Assume token value $0.10

Year 3: 96mill Assume token value $0.20

Year 4: 192mill Assume token value $0.20

Year 5: 384mill. Assume token value $0.30

Redenomination event takes place. Total supply is divided by 10 and token value increased by x10

Year 5 readjusted to: 38.4mill and token price to $3.00

Year 6: 76.8mill Assume token value $3

Year 7: 153.6mill Assume token value $3

Year 8: 307.2mill Assume token value $4

Year 9: 614.4mill Assume token value $4

Year 10: 1.228billl Assume token value $5

Redenomination event takes place. Total supply is divided by 10 and token value increased by x10

Year 10 readjusted to: 122.88mill and token price to $50

Assume 1DBL=$50 after 10years. Your compounded token balance is 51,200 DBL.
This would result in a portfolio value of $2,560,000 from a $1,000 investment in 10 years. As this example shows, not only will you double up your tokens year on year, the fiat value of DBL will also be increasing as the protocol becomes popular as a long term investment. So your final wealth will be far greater than just a token double up.

I believe this can be a system of great wealth creation and store of value. I look forward to the communities’ feedback on my proposal and I do hope the great team at XIO can see the potential in Double as I can, and develop this protocol.

How do you prevent dumping?

Unfortunately we can never prevent dumping as people will always sell when their price is right. However, under this protocol the inflation in year 2 is controlled therefore only a limited number of token is freely available in any given month. If the protocol is a success in year 1 and people see the value in staking, then there will be demand in year 2 for people to stake. Therefore as soon as 1 pool is unlocked and someone is willing to sell there tokens for a profit, I would expect there to be buyers willing to buy and stake. Therefore if this protocol is a success, I would not expect the dumping we are used to seeing in current tokens