Qubic Unveils Project X, Revolutionizing Blockchain With 80% Supply Cut

The launch of “Project X” is proudly announced by Qubic, a cutting-edge distributed ledger technology based on quorum that also has an AI platform in development. With this initiative, major features and upgrades are introduced to promote long-term community development. It will improve revenues, balance emissions, and support community driven development.

A Thriving Ecosystem

The goal of Project X is to establish a robust, long-lasting ecosystem that benefits users, developers, partners, and the community. Computors, specialized nodes built for task execution, may now allocate a portion of their weekly rewards (emissions) to projects they think will strengthen the ecosystem thanks to a new protocol extension, a significant enhancement. Project X encompasses a number of initiatives in addition to the protocol extension that are designed to take use of this new extension’s potential:

New Emission Model:

With the goal of reaching a maximum supply limit of 200 trillion QUBIC (an 80% supply decrease), Qubic has started a 15% reduction in emissions, followed by annual halvings. An essential component of sustainable development is the model’s balance between emissions and burning. Furthermore, the 80% supply reduction has lowered the Fully Diluted Valuation (FDV) from the previous $1.7 billion to $340 million, which may improve Qubic’s market standing and growth potential and make it more approachable and desirable to new investors.

Computor Controlled Fund (CCF):

The treasury for necessities like marketing, community projects, and software development. To promote ecosystem development, an 8% reallocation of weekly emissions to the CCF is proposed.

QEarn:

A community initiative that provides lucrative rewards for locking QUBIC, lowering the amount in circulation, and promoting sustained involvement. Redistributions of QUBIC rewards and burns resulting from early withdrawals are included.

Qubic’s dedication to decentralization, innovation, sustainability, and community engagement is best shown by Project X. It will make it possible for the community to actively participate in the ecosystem’s development.

Revolutionizing Crypto

Alber Fernandez, Qubic’s Ecosystem Representative for Europe stated:

“Project X is made possible by the decentralisation of Qubic, and is truly groundbreaking. It’s the first time we’re seeing the crypto community’s collective intelligence come together to perfectly balance emissions, mining growth, and long-term sustainability. By aligning burns with emissions and encouraging people to hold Qubic, we’re creating a more sustainable and value-driven ecosystem.”

Gazing Forward

Project X will allow Qubic to completely transform its ecosystem. A number of staged rollouts are planned for the project between now and late September. Visit the Qubic website to find out more about Project X and the Qubic Grants Page to find out how to build on Qubic.