Phase 1: Community DeFi-as-a-Service

Phase 1 of Project X was the creation of a Defi-as-a-Service platform. On December 27, 2021, we released Version 1 of Project X Nodes. Similar to other emerging DaaS projects, we offered a node rewards-based system similar to StrongBlock. Project revenue was going to a treasury to be used for investments in crypto projects and DeFi protocols to assist in sustaining our rewards system.

PXT token holders are able to use their tokens to create “nodes” and those nodes are rewarded with a drip of PXT rewards (see below). A portion of PXT2 used for node creation is sold into AVAX and sent to the treasury. The AVAX is to be used for investments in other projects and revenue generating assets. This allows the building of a treasury that can be used to help sustain node rewards through a variety of means.

By investing in projects as a community, we can achieve greater capital scale and diversification, while minimizing individual operating speed bumps, such as gas fees, bridging, and the opportunity cost of inability to scale. Absolutely anyone who has a crypto wallet and can use the Project X website can create passive income and gain exposure to DeFi without needing to research new projects, bridge funds to new blockchains, pay gas fees, and the sunk time it takes to invest in (and keep up with) DeFi projects.