Dear XDC Community,
Despite facing strong global macro-economic headwinds, the XDC Network has grown by leaps and bounds over the past year. Layer 2s, software development firms, and financial service providers from all four corners of the globe are queuing up to build DEXs, Metaverses, and dApps with use-cases directly applicable to everything from commodities trading to the digitization of legal documents to trade finance (our bread and butter). All are doing so in the certainty that in the not-too-distant future advanced blockchain technology like XDC’s will disrupt, not just the global digital information economy, but also the equally global, real-world economy of goods and services. To support them in their efforts, and to drive ever more innovators, technologists, builders, and institutional participants to the network, we — the founders — are going to do something we’ve never done before: in partnership with major institutional funders with whom we are closely aligned, we’re going to leverage portions of our own, personal allocation of XDC to rapidly accelerate the quality and quantity of on-chain activity. Our goal in this is to ensure that when — not if, but when — the macro-economic winds change and we find ourselves with the wind at our back, we’ve already moved so far, so fast that nobody can catch us.
Ever since the transitory testnet launched, the founder’s XDC allocation began to unlock, in accord with the publicized token release schedule, at a rate of 3% per year. It’s our belief that the time is ripe for these already-circulating, unlocked tokens to be put to work for the greater good of the network. It’s easy to forget that XDC is not a currency, although it can function as one — XDC is, rather, the fuel for a cutting-edge, decentralized network product with various, far-reaching applications. The product, the network, is what’s important, not the “currency.” So the personal choice to leverage the latter in order to fast-track the development of the former was an easy one for us to make.
The only hard part was finding the right institutional funders. This is because we didn’t want just any institutional funding. Institutional funding alone was remarkably easy to come by. More than that, though, we wanted genuine partners; that is, we wanted funders who shared our vision of the future — a future in which the XDC Network plays a leading role in the increasingly digitized real-world economy — and who, at the same time, possessed the willingness and the ability to make our shared vision a reality. We’re happy to report that we’ve found such partners. And, in the weeks and months to come, we’ll be announcing additional details of the terms of our collaboration.
This will usher in an exciting new era in the history of the XDC Network — we believe, the most exciting one yet.
Like you, #WeAreXDC
Atul Khekade, Ritesh Kakkad.
Community Letter was originally published in XinFin on Medium, where people are continuing the conversation by highlighting and responding to this story.