The No-Nonsense Guide To The XIO Daap

Introduction/Background
Hi All!

Following the conclusion of Round 1 of the $100k flashstaking competition, I got to use the Daap extensively. Within the Telegram chat, there were numerous users who found some aspects of the Daap difficult to understand and/or use.

It was this that spurred me to make a tutorial/guide on the “No-Nonsense Guide To The XIO Daap” as I want to help the XIO community grow by making it accessible to new users of the platform as well as assisting existing users also.

Please note that this is an unofficial “No Nonsense Guide” to understanding the XIO Mainnet and was created with the purpose of providing users with further resources to learn about Flash Staking and the XIO Daap (“Mainnet”).

This guide will be useful to anyone who wants to understand any of the main features of the XIO mainnet with included examples, breakdown of explanations and other areas which you may be interested in.

The No-Nonsense Guide

You can find the guide through this google docs link here: XIO No-Nonsense Guide (Graphics) - Google Docs

Note: Recommended to view in google docs as potential graphical formatting issues if not.

It covers:

- What is Flash Staking

- Early Unstaking

- XPY and Rewards

- Pro’s and Con’s of Flash Staking

- Short Term Staking vs Long Term Staking

- How does the Daap work?

- How can you get started?

Comments are more than appreciated either on the document itself or below this topic post and I will try and amend as appropriate.

I am aware that with the upcoming $FLASH change, certain elements of the guide such as the branding/graphics and terminology will change, however the core concepts and way in which the Daap is used will remain the same. Furthermore, this guide aims to help anyone interested in participating in future rounds of the XIO $100k flashstaking competition.

I highly recommend you check out the official XIO Blackpaper created by the XIO team to gain a thorough understanding of the ins and outs of the XIO network - XIO Blackpaper v3 - Google Docs

Thanks all for your time and happy staking,

Nathan :slight_smile:

16 Likes

One word: excellent.

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Excellent work @nathan488! I didn’t see any issues and it reads very clearly. It will be such an invaluable resource for new XIO’ers. You did an amazing job.

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Wow just great, it’s absolutely brilliant and easy to understand… keep it up!!

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Excellent job! I love how the citizens come up with such good posts! This tutorial will help a lot of new citizens

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Hi Nathan

This is a very valuable contribution. I have shared it with a friend that is joining for the second round.
He is a charted accountant at FedEx.

One suggestion:
I see you use “Daap”
The industry norm is “Dapp”
Also on the XIO website you will find “Dapp”

Congratulations my friend!

Xid-f56A0
#XIOSocial

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Thanks for picking this up Luke! I’ve gone ahead and made the changes so “Daap” now is correctly “Dapp” across the entire article. Appreciate you identifying this. Any further feedback or advice, please let me know :slight_smile:

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Only a pleasure @nathan488

I made a few comment on grammer and spelling, not that I am an expert at all.

See comment directly on your document
:stethoscope: @DrLuke

Wow, amazing tutorial. This is very helpful for newbies. Thank you very much for your time and contribution!

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Hi Luke, Really appreciate you taking the time to read/review the full document. I’ve gone through and addressed all your comments. The only one I didn’t change was on the reward fluctuation (more or less) - since it is my understanding that the reward displayed on the dapp is the minimum reward - you cannot receive less than the stated amount as this is where the price slippage is factored in (and instead of processing it and you receiving less, the transaction fails, hence the “Stake Failed” message. Happy to hear your thoughts if you disagree on this concept.

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05/11/20 Update: Updated to include page on the upcoming changes to XIO (to FLASH) including all key events and things to do to be prepared for the snapshot etc.

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Amazing job @nathan488!

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