Hackernoon logo[Announcement] XinFin RoadMap For 2021. by@xinfin

[Announcement] XinFin RoadMap For 2021.

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@xinfinXinFin (XDC) Network

XinFin (XDC) is an open-source hybrid blockchain platform. Combining the best attributes of private & public blockchain.

Background

Bitcoin’s phenomenal rise backed by institutional adoption has confirmed the appetite for digital assets by mainstream markets and investors. Today, Bitcoin is positioned as a scarce digital asset with very high liquidity, and this liquidity, mining, and adoption are managed in a fairly decentralized manner by its community members.

XDC is positioned to connect real-world finance origination to DeFi markets and Xinfin’s focus is for XDC to be a de-facto standard for recording payment obligations for institutions which include buyers, suppliers, governments, and banks. Payment obligations can also be recorded for the employer to employee transactions which can potentially create opportunities for payday loans, mortgage origination, and auto loans on the XDC Network.

Governments raise billions through bonds which are essentially payment obligations. Currently, this space is empty and there is no platform that focuses on this particular feature. Enabling this creates a massive opportunity to run DeFi backed by real-world assets on top of the XDC network.

Central banks pour liquidity into financial markets so that liquidity can reach MSMEs at the grassroots level. XDC is positioned to absorb such liquidity and distribute it via originators that connect to TradeFinex on the XDC Network.

We are expecting a third-party developer to deliver payment obligations on the XDC network which will be used by the initial 2 integrations, Validus and Funding Societies. There are ongoing discussions with regulated financial institutions (Know More) to bring their payment obligations for instruments such as letters of credits, invoices, and receivables onto the XDC Network.

While the Core Team is focused on the adoption of XDC and the network, it’s clear that in order for us to operate as a Decentralized Autonomous Organization, the participation of the XDC community is needed to achieve the following objectives:

XDC Integrations across hardware and software wallets, and the addition of more digital asset custodians and crypto exchanges.Provide XDC liquidity to support trade finance liquidity.Increase XDC adoption through marketing efforts that build awareness about the XDC Network’s protocol and benefits.

We are happy to share this roadmap with our core community members so that we can collectively grow the XDC Network into a market leader in 2021.

1. Build a robust support infrastructure for the XDC Mainnet Chain with new wallet integrations

a) Hardware and Software Wallets

Ledger code integration is done, we are awaiting security approvals and upgrade into their firmware in order to be fully supported on Ledger.
D’CENT Wallet: Support and integration of XDC has been announced by D’CENT
Trezor (integration is ongoing)
Wallet connect (Live): https://walletconnect.org/apps/
Freewallet : (Integration is ongoing)
Safepal.io: Safepal.io has announced that they will keep XDC Integration on their 2021 roadmap.
Exodus, Trust Wallet, Coinswitch: Discussion Phase.
XDC needs to meet their required criteria for Coinmarketcap rank, technical integration, fees, etc. XDC community members can participate and claim up to a 140% bounty visit: https://www.xinfin.org/bounty.

b) Digital Asset Custodians

Copper.co — Established
Onchain custodian — Support is scheduled to start in Q1 of 2021
Hex Trust — In negotiations as of Q1 2021Anchorage (backed by Visa)
Other wallets: XDC community members can participate and claim up to 140% bounty visit the link: https://www.xinfin.org/bounty
XDC community members can add support to other established digital custodian and claim up to 140% of XDC as bounty by submitting integration details at https://www.xinfin.org/bounty (Fill-in the form provided under pre-approved XDC Bounty)

c) OpenLaw Integration:
Discussions are in progress and we are awaiting for XDC community members to push them to get quick integration. Up to 140% in XDC Bounty is available for the actual cost borne by XDC community members visit: https://www.xinfin.org/bounty

d) R3 Cordite Integration:
Cordite Society has been engaged by Xinfin to run third-party Corda Network nodes for XinFin and provide interoperability among the Corda and XinFin networks.

e) ExcelTrip Travel Portal XDC Integration:
Integration is in progress and should be completed by Jan 2021. An announcement has already been released by the ExcelTrip team.

f) MultiSig Wallet Facility:
Fork repositories like https://gnosis-safe.io/ and provide options to use multisig facility on the XDC Network. Up to 140% in XDC Bounty is available for the actual cost borne by XDC community members visit: https://www.xinfin.org/bounty

2. Drive rapid adoption of XDC with DApps currently running on the XDC Network

a) TradeFinex

Currently, live with SGD. $50,000 worth of staking coming from XDC directly ported to Validus.
Integration with more originators.
Scaling up Liquidity Pools on TradeFinexIntegration with exchanges and custodians who can offer yields to their own stakers
Payment obligation and smart contract utilization of XDC
https://forum.makerdao.com/t/tokenized-yield-generating-trade-finance-assets-as-maker-collaterals/1645/11?u=atulkhekadeKnow More

b) Globiance

Boost adoption of SGDg, EURg

Target:

Scale-up issuance of SGDg and EURgScale-up the daily volume of SGDg and EURg

c) Blockdegree

Development of partnerships with institutions to cross-sell education with a 50% profit share.Blockdegree courses will be accredited by Singapore skills future (Please visit Blockdgree.org)

d) Mycontract

Develop enterprise connectivity to blockchain and crypto-asset ecosystems Drive the development of Dapps on XDC Network with funding and bounty programs for 3rd party developers who can claim up to 140% of their costs borne in XDC as bounty by submitting details. (Fill-in the form provided under pre-approved XDC Bounty)

3. Exchange Listings

a) Tier 1 Exchange Listing (In Legal clearance)

Non-US Customers (Phase 1)US Customers - FIAT pairs (Phase 2)

b) Tier 1 Exchange Listing (Proposal Received)

Non-japan customers (Phase 1)Japan customers - Fiat Pairs (Phase 2)

c) Tier 1 exchange listing (Proposed)

Non-Korean Customers (Phase 1)Korean Customers - Fiat (Phase 2)

d) Tier 1 exchange listing (Proposed)

US Customers (Proposed, Under Legal opinion)Korean Customers - Fiat (Phase 2)Know More

Other Exchange Integration Fee bounty at https://www.xinfin.org/bounty

4. Market making + Liquidity push by incentivizing Market Makers

Community driven third party market making. There are some masternode groups who are running bounties via third party pages.

https://ruslanwing100.medium.com/bounty-for-xdc-market-making-6326540e1766

Incentives will be paid from the XDC Ecosystem Pool for maintaining liquidity in a self-controlled mm account.

5. Global awareness + PR

a) Received proposal from Market Across PR firm.

This is a PR firm for top projects.

b) Develop ways for the community to help in the decentralization of marketing efforts.

6. Develop Interoperability of XDC with Ethereum ecosystem

a) Developers of Bancor and XDC are working with Bancorx integration of XDC with USDC, USDT, and ETH on BancorX

Link for alpha product/tool: https://bancor.xdc.network/ (Link for testing purpose only)

7. Legal Clarity on XDC Network and token

a) Singapore

A law firm has already issued a legal opinion stating that XDC is a utility payment token and not a security.

b) UK

A law firm has already issued a legal opinion stating that XDC is a utility payment token and not a security.

c) Liechtenstein

Legal opinion underway.

d) US - SEC

Xinfin is currently in the process of engaging legal counsel in the United States to create a legal opinion for the XDC Network and the XDC token.

e) Japan

To be engaged after listing with Tier 1 Exchange for enabling fiat pairs.

f) UAE

Working through TradeFinex tech Ltd. (Reglab already issued)Know More

8. Hackathon & internship to promote XDC Adoption and More Dapps Integration.

9. Enhance XDC Staking in the following ways:

Masternode/Backup Node: Expand XDC Masternode networks. Community Staking: Integration with exchanges and custodians who can offer a yield to XDC Holders.

Inorganic Growth through third party project integrations:

a) European Index provider — (will be publicly announced in Q1)

XDC index to launch in January end or February. Know More

b) A Fintech firm integrated with 17 banks

Know More

Integration of banking partners with TradeFinex over XDC liquidity pools for alternative investors.

c) Tier 1 Bank — Know More

d) DeFi Project on XDC — Know More

f) Trade Finance Digitisation Project

Integration with XDC

The XinFin Core Team encourages community members to take part in the development and utilization of the XDC Network. Efforts to connect with or approach regulated companies that can boost XDC adoption with running systems will be supported through XinFin Bounty programs. Up to 140% in XDC Bounty is available for any communication, integration, or regulatory cost incurred by XDC Community members. XDC Bounty form. (Fill-in the form provided under pre-approved XDC Bounty)

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by XinFin (XDC) Network @xinfin. XinFin (XDC) is an open-source hybrid blockchain platform. Combining the best attributes of private & public blockchain.Read my stories

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