Introduction
In our first launch-stage article entitled The Mystery Boxes, we explained in detail why we deployed our game-changing Software Development Kit (SDK) and how it will work to the advantage of potential users of our Protocol. You should read it if you’ve not; it won’t take up to five minutes.
It’s stage two, and as promised, we mean to keep you in the loop regarding every step we take towards making Xircus WEB3 Protocol the best dApp deployer in the WEB3.0 space. Therefore, this article will discuss what’s next in line — Toss Coins, which is all about currencies (read as cryptocurrencies) and how they work on our protocol. So let’s go to the moon together!
What Does the Currency-Agnostic Approach Mean for Xircus?
A (crypto)currency-agnostic platform is simply one where there’s no preference for one currency over the other, and that’s the sort of thing our Protocol has been built to accommodate in mind-blowingly innovative ways. It’s a rarity in the WEB3.0 world, but we’ve made it possible. Xircus WEB3.0 Protocol provides a renewed way of looking at currencies. Any currency in circulation with liquidity on a Decentralized Exchange (DEx) or Centralized Exchange (CEx) can be introduced to our ecosystem.
On our Protocol, we have created a whole section that allows users to add and use various currencies as payment tokens within any WEB3.0 dApp that has and will be deployed on Xircus, but not only that. In order to save you time and prevent you from bad investments, bad actors in the crypto space, the currencies section was also designed to help you find out if a particular token has enough liquidity or not and whether it’s worth your while or not. That’s essentially because it always requires that the currency is either paired with a native token like BNB, Ethereum, or Polygon or a stablecoin like BUSD, DAI, or USDC. So, in effect, the currencies section ensures that a certain payment token listed with Xircus has enough liquidity to be used as a payment currency for any WEB3.0 dApp. What about its use cases?
Use Cases for Currencies Within the Xircus Ecosystem
You know how currencies, listed or added, thrive on the Xircus ecosystem already. So it’s only natural that you’re curious about the actual use cases of those currencies. So let’s talk about them then.
The main uses of currencies in our Protocol are utilising and promoting tokens. With the utilisation of tokens, we mean all new dApps, brands, creators, artists, influencers, and so on can finally give their currencies real-world utility and give them a greater chance for adoption. We are essentially supporting dApps, brands and creators to add value to their tokens, and ultimately, bringing down the number of useless tokens to the bare minimum.
On the promotion side of things which is a highly beneficial plus, we have designed our protocol to give users the privilege not only to utilise but also promote their tokens so that they would get more exposure. Utilisation will naturally lead to promotion.
For example, if McDonald’s wants to give out coupons for collectibles or Big Macs, they can mint their own tokens and utilise them on their own dApp. An artist who wants to use their coins for Tiered Level Access can set up specific requirements for different parts on their platform or meme coins like $SHIB that can suddenly be spent anywhere. That’s absolutely mind-blowing, isn’t it? We know you’d like to see how currencies can be added on our Protocol, so we’ve created a video demo just for you. Watch it here (hyperlink).
The Currency Manager (EIP20)
Ever thought of creating your own token effortlessly? Xircus WEB3.0 Protocol should be your go-to place. In the currencies section also, we have created an area where you can create/deploy your own token. You won’t just be able to create tokens; you’ll also be able to manage them as we’ll be adding a feature where users can also manage their liquidity. With the ‘manage liquidity’ feature, you’ll be able to manage your liquidity from different exchanges.
Suppose you have 100,000 worth of BUSD and you want to split it to different exchanges, like PancakeSwap, SushiSwap, and so on, instead of going to each of those exchanges, those AMMs and adding liquidity manually one by one, you could actually use the liquidity manager on our protocol to do it all. Call it an all-in-one protocol. The feature will be available once we launch the app. So be on the lookout for it.
How Does Xircus Compare to Other Projects Like OpenSea, Moralis and MagicEden, etc.
It’s only appropriate to refer to the platforms above as big names in the industry, but quite frankly, Xircus (just in its launch stage) is promising several ways. Here’s how.
The best way to think about Xircus is to think of it as a Protocol that does what all these big names do and much more. Our launch articles and, finally our product will prove this to you soon enough. Keep following. None of those companies are totally token-agnostic, chain-agnostic, fronted-agnostic, backend-agnostic, and most importantly, not user-agnostic. Yes, none. Interestingly, Xircus Protocol can be described with all those phrases and more.
For More Information
As always, our exceedingly bright COO has recorded a very insightful video on this topic — Toss Coins. It would be best if you watched it to gain more clarity about the topic. This is just article number two in a series of twelve launch-stage articles. Watch for the third one. It promises to be worth your while. Follow us on all social media platforms. That way, you won’t miss a single one. Stay in the loop!
Xircus is in town!
- core team
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