What Is XCAD Network (XCAD)?
XCAD Network is a global tokenization platform for content creators where users can earn and trade their favorite creators' tokens. This platform allows users to govern creators' decisions via the XCAD browser plugin that works directly on YouTube. The primary goal of this network is to search for ways to leverage and improve the relationship between creators and fans. To achieve this goal, XCAD has introduced a cryptocurrency that seeks to offer creators with rewards for making a fan base based on their work and fans for engaging with the creators.
Also, the XCAD ecosystem distributes tokens fairly between fans, creators, and platforms. This platform and creators can earn rewards only from the fan's engagement events. Fans collect tokens on claims, while creators collect tokens depending on their work and other conditions. Every economy starts with a massive amount of creator tokens split equally between creators, fans, liquidity, token burning, and more after the CLO (creator launch offering). Coin burning is the process of eliminating tokens from circulation by sending them to a wallet to lock them forever. Most of the tokens are burned, and a small percentage is locked up. A portion of the tokens is used for initial creator token liquidity. However, the remaining amount is used for risk management reserve.
Further, fans get rewarded through engaging in this ecosystem and earn points by watching the creator's video. The amount of rewards is based on multiple factors such as video-related attributes and the staked amount of XCAD and creator token of the viewer in the liquidity pool. Liquidity pools allow users to trade cryptocurrencies on decentralized exchanges. Rewards points are accumulated as a unit of value and are mapped to a coin value. Depending on their claim level, a finite number of tokens are directly rewarded to the fans. However, when the network is oversubscribed with claims, the amount is distributed proportionally, and the claims are rebased.
History of XCAD Network
XCAD network was founded by Oliver Bell (CEO), Joel Morris, and Bernice Thomas (CTO and cofounder). The maximum total supply of XCAD tokens is 1 billion XCAD. The currency was developed and released in the first quarter of 2022.
