X Protocol is the first metaverse+ application portal programmed using RUST language with source-generated gameplay and land economy model. It also provides low-cost access to the Metaverse for DAPPs on heterogeneous chains, sharing X Protocol’s users while making the X Protocol ecosystem more prosperous. X Protocol will strive to become the “Ready Player one”‘s World + STEAM platform in the blockchain space. Considering that Polka JS. wallet does not support mobile devices, X Protocol will be deployed on multiple public chains such as Polkadot, Solana, Polygon, Ethereum, BSC, etc. in order to serve more users.
Introducing X Metaverse
The nature of metaverse that spans the physical and digital worlds makes it well-suited to incorporate blockchain technology. X Metaverse was created with blockchain technology as the underlying protocol from the beginning, making it possible to create a fully functioning and linked real-world economic system in it.
In X Metaverse, anyone can create a virtual identity and customize it freely, with a system that fully protects users’ data and privacy. Just like the internet, X Metaverse is a perpetual system that continues to provide services and content with an evolving and rich ecology, everything in it happens synchronously without delay. Relying on the social system of the X Metaverse ecosystem to break time and space constraints, users can establish social contact with people all around the world, and explore this immersive virtual shared space together anytime, anywhere.
Bridging with X Protocol
X Metaverse creates multiple application scenarios based on the X Protocol, a Polkadot-based cross-chain bridging solution, offering rich content such as a variety of gameplay, props, art materials, and so on. The X Protocol helps the vast number of internet users migrate smoothly to the decentralized “Internet” by providing a more comprehensive, diversified, and convenient identification service.
The X Protocol cross-chain bridge solution is a two-way cross-chain token bridge based on the relay chain, it establishes a trustless cross-chain bridge and offers higher performance and speed, which means that once connected to the X Protocol cross-chain bridge, customers can focus on business and applications without worrying about cross-chain infrastructure. Compared to other cross-chain bridges, the X Protocol cross-chain bridge is able to achieve higher cross-chain asset liquidity, with advantages in performance and decentralization.
With an on-chain, decentralized open-source economic system provided, the application scenarios based on the X Protocol are not only entertainment, but also a parallel digital world where users can socialize, study, work, shop, watch exhibitions, exercise, and even invest and manage funds on the platform at the same time.
Various Applications of X Protocol
X Protocol has launched X Predict Market, a user-friendly, decentralized, and cross-chain prediction market platform with automated market-making by a new type of Fixed Product Automated Market Maker (FPMM). As a result, X Protocol has been able to partner with some outstanding public chains and conduct cross-chain deployment, enabling X Predict Market to seamlessly connect with other public chains for liquidity growth. The importance of cross-chain infrastructure to the DeFi ecosystem is self-evident.
Users can also directly create and participate in predictions and obtain the corresponding NFT for their involvement in X Predict Market. Besides, the X Protocol will set up different functions around NFT. In addition to X-NFT and NFT Marketplace, there will be other functions in the future such as mint NFT, trading, auction, fragmentation, collateral lending, etc.
Other applications that X Protocol provides are creating decentralized identity with the virtual image, multi-function social tools including X community, tipping, fundraising and so on. In these applications, POT, the native token of X Protocol, plays an important role.
POT is the basic token for the X Metaverse and can be used in various X Metaverse scenarios, such as a settlement token in X Predict Market, or tipping and crowdfunding in the community etc. It is also a governance token of X Metaverse, and governance interests include use in initial proposals voting, determining results and more in the X Predict Market. POT is listed on LBank Exchange at 21:00 (UTC+8) on November 10, 2021, investors who are interested in X Protocol investment can easily buy and sell POT tokens on LBank Exchange.
A Commercialized Metaverse base
X Protocol’s vision is to address interoperability issues by leveraging the strengths of each blockchain by using a connected architecture that enables seamless communication between all chains. It aims to become an open-source project that welcomes all kinds of collaborating projects, whether they are public projects such as infrastructure, research, and development tools, etc., or application projects such as DEFI, GAMEFI, etc. X Protocol will be based on Polkadot, but it’s also planned to be deployed on other public chains such as Ethereum, BSC, Polygon, Solana, and Avalanche in the future to further expand its commercial scope and become a commercialized Metaverse base.
LBK Blockchain Co. Limited