L1X Q1 Summary Webinar

AMA hosted by the L1X team - 13 March 2025.

Introduction

The AMA kicks off with host Kody welcoming viewers alongside team members Kevin, Mike, Ronnie, and Lionel. The team is excited to share updates on the L1X project, covering progress made over the past few weeks.

Swap Daily Draw

Kevin introduces the Swap Daily Draw, a recently launched initiative aimed at boosting awareness, liquidity, and utility for the L1X ecosystem. Key points:

• Purpose: Drives volume to the swap feature, increases L1X token holders, and showcases the power of X-talk.
• Mechanics: Users participate by swapping (even small amounts), entering a daily $100 prize draw. For example, 11-20 swaps costing $1-$2 offer a 10% win probability.
• Impact: Since its launch 10 days ago, 30 winners have emerged, with increased L1X buying activity and rising average buy values on decentralized exchanges (DEXs).
• Future: Planned as an ongoing strategy to attract new users and enhance liquidity.

Core Staking for L1X Nodes

Lionel updates on the recently released core staking for L1X nodes:

• Availability: Accessible via the L1X App’s node staking section, where users can join staking pools.
• Performance: High demand tested the network, leading to peer-to-peer improvements.
• Rewards: Stakers earn 70% of transaction validation rewards from their chosen pool.
• Node Host Fixes: Issues from excessive node activity were resolved, with an update expected within 1-2 days.

V2 Swap and Partnerships

Kevin highlights enhancements to the V2 Swap:

• Expansion: Now supports 35+ networks, with Bitcoin and Tron integration for March (public rollout a few days later).
• Partnership with Merkl: Offers staking rewards (120% APR) for liquidity providers on Uniswap, with campaigns to boost awareness.
• User Experience: A new Swap page with step-by-step guides will launch within 48 hours to simplify navigation, alongside integration on the L1X App for documentation access.

NFT Revenue Distribution

Lionel shares a fresh update on NFT revenue:

• Release: Implemented hours ago, L1X App NFT holders (Rook tier) receive 50% of swap base fees, with 4% allocated to L1X App NFT holders.
• Access: Rewards are viewable under the “My Rewards” tab, distributed based on the number of holders (e.g., $1 split among 10 holders = $0.10 each).
• Simplification: No need for multiple wallets or burning NFTs—streamlined for community benefit.

Hackathon Update

Ronnie recaps the ongoing AI-themed Hackathon:

• Theme: AI applications (e.g., cross-chain arbitrage, DeFi trading, security auditing).
• Incentives: Up to $1,750 per referral ($250 for verified projects, $500 for top 15, $1,000 for top 5).
• Timeline: Submissions open until March 24, builds due May 9, winners announced May 12 with live presentations.
• Momentum: Early sign-ups and commitments from entities promising broad promotion.

Community Engagement and Traction

Kevin reports on community growth:

• Swap Stats: Since September 11, over 71,000 swaps processed with a <1% failure rate (targeting <0.1%).
• Daily Draw: Growing participation daily.
• TaskOn: Over 500,000 task qualifiers, with a 40-47% increase in two weeks, ranking L1X in the top 5 communities.
• Quest: 8.68% increase in actions, with 84,000 followers.
• Galaxy: Testing underway, with potential TaskOn-like integration.

Kody adds:

• Twitter Analytics: Major impression gains over three months, with 37% engagement, driven by community replies.
• Spaces: Hosted 37 spaces, spoken on 29, reaching 1.6 million, averaging 300 live listeners per session.
• New Format: “10-Minute Pitch” starts next week, featuring projects in themed editions (utility, meme, gaming).

Airdrop Campaign

Ronak details Airdrop restructuring:

• Task Reorganization: Social tasks (no cost) at the top, dollar-commitment tasks ordered by spend amount.
• Extension: Leaderboard extended to Q2 2025 due to late influencer traction and new joiners.
• Influencers: Eight YouTube and Telegram influencers boosted engagement, driving recent member surges.
• Listings: Featured on Airdrop.io (10,000 views, 72% engagement) and AirdropAlert.com, tapping 200,000 monthly visitors.
• New Tasks: Swap tasks now tie into the $300 daily draw, enhancing real-time rewards.

L1X Coin Performance

Mike outlines strategies for L1X coin stability and growth:

• Liquidity Management: Adjusts dynamically within 2% and 5% of market price, maintaining an 0.8% bid-ask spread.
• Goals: Price stability, consistent liquidity, organic demand, and manipulation prevention.
• Release Pool: Controls token distribution based on demand, avoiding supply shocks and supporting steady appreciation.
• Benefits: Reduces slippage, builds investor confidence, and fosters long-term holding.

Roadmap

Kevin previews upcoming milestones:

• 14 March: Bitcoin/Tron integration with a “Support Bridgeless Swap” campaign.
• 17 March: Release Pool upgrade adds swap fees to boost liquidity.
• Ongoing: Onstop wallet dashboard, developer toolkit for multi-network token deployment, and swap panel revamp educating on bridgeless swaps.

Quantum Safety Innovation

Kevin drops a major alpha on L1X’s future:

Partnership: Collaborating with the University of Western Australia for quantum-resistant cross-chain infrastructure.

Vision: A secure, quantum-proof platform integrating any blockchain (Ethereum, Solana, etc.) via five paradigms:

✅ Quantum-secure cross-chain messaging.
✅ Immutable quantum-proof state storage.
✅ Stateless real-time data transfer.
✅ Multi-chain rollups for scalability.
✅ Easy multi-chain deployments.

Impact: Positions L1X as a leader in quantum security-as-a-service, targeting enterprises and governments hesitant about interoperability due to security concerns.

Timeline: First prototype within 12 months, leveraging existing developer toolkit expertise.

Opportunity: Addresses a trillion-dollar market by pre-empting quantum threats, ensuring L1X’s relevance as cryptography standards evolve.

Closing Thoughts

The team emphasizes the interplay of awareness, utility, liquidity, and innovation, with quantum safety as a catalyst to differentiate L1X. They thank the community for their support and urge continued swap promotion to drive utility.

This AMA showcases L1X’s multifaceted progress, from immediate community incentives to a bold quantum future, blending practical updates with visionary ambition.