XYO, XYO World, and COIN

By Dibbler | Dibblers Dabbles | 3 May 2021

It's been around a while, launched in 2018 with XYO Network. A decentralized location verification network that would reward you for the location data you generated with small bluetooth devices called Sentinels and a BridgeX device you hooked into your home network to upload that data to a blockchain network. The parent company- XY The Persistent Company and their non profit The XYO Foundation have an ambitious roadmap that focuses on using trusted location data to provide various services and apps to reward users and create new use cases for that data. That network has since been adapted and changed in order to get it to scale faster and be able to effectively reward users for the data they are generating. The original XYO Network has been centralized in order to provide use cases and profitability to XY The Persistent Company and its shareholders. They released an app called COIN based on the XYO Network and XYO protocol that allows users to mine with their mobile device and be rewarded for sharing their location and other data. COIN users can earn COIN for free in app that can be redeemed for XYO, BTC, ETH, or physical goods such as Nintendo Switch, PS5, various XYO themed Swag etc. There are subscriptions available to increase COIN earnings aimed at power users who move around a lot or who intend to maximize their earnings. Delivery drivers, Uber drivers, long haul truckers etc can all earn coin incredibly quickly with a subscription and increase it even more with a Sentinel device. Users that don't want to pay for a subscription can increase their earnings with a Sentinel device, or complete various surveys, app installations, or business data verification. The verifications are things like going to a particular store and scanning products on the shelves to verify they are actually in stock. Even users that don't drive or move all that often can receive additional COIN by turning on home base to boost their COIN the longer they mine in the same place. You can even buy additional sentinel devices and hide them in high traffic areas for a chance to earn additional COIN from other users nearby- or share that sentinel with a friend to boost their earnings and receive a small portion yourself. All of these options to earn COIN allow even basic users to build a stack of COIN quickly enough to be worthwhile even as a free user. COIN value is loosely tied to USD value so as you earn COIN you know that for every 10000 COIN you generate you can redeem for 5 USD of XYO- regardless of XYO price at the time. In my opinion this creates reliable value to users of COIN. Even if XYO price drops drastically users will just receive more XYO for their COIN. Holders of XYO will earn daily returns in COIN for linking their wallet, and the rate of earnings depends on market value of XYO as well. Higher XYO price= higher daily HODL rewards. This is because the math for the daily HODL reward converts a users XYO holdings into COIN value to figure out how much to reward. Since COIN is tied to USD when XYO is more valuable your HODL value is higher.

These two aspects- COIN value being tied to USD value and HODL rewards increasing based on XYO price create a perfect storm where no matter what is happening with the XYO price there is something a user can do to benefit from the situation that doesn't necessarily mean selling! If XYO price is down- perfect time to redeem COIN for XYO and get that little bit extra. If XYO price is high HODL for extra compounding daily earnings! WIN WIN. There are also HODL rewards available for XYO and ETH provided to liquidity pools in UNISWAP!

Interestingly, because COIN has gamified the mining and generation of location data it presents its own use case. It feels a lot like playing an AR game like Pokemon GO. I enjoy earning COIN as I take my dog for a walk or drive to the store. I find random geodrops with a small amount of COIN in. I sometimes geodrop COIN at the post office with a thank you note to them(many of them use COIN already, I know this because when another user is on the same tile as me I get an icon indicating both of us are getting boosted earnings through TeamLift) Users can earn as much or as little as they wish by engaging in the rewarded tasks. Users can claim ownership of their home area by geoclaiming it and investing their COIN to own a percentage of that geotile- doing so earns the user a cut of all geomining within that tile based on their percent ownership. Users can place geodrops for other users to find- reminiscent of geocaching. Place a geodrop on top of a mountain and a user who finds it gets a nice reward. Specialized geodrop campaigns area available through COIN Boss- a current beta feature that allows your geodrops to contain pictures and links etc. Additional features are constantly being rolled out and deeper integration to other parts of the XYO ecosystem are happening all the time. Recently functionality was added to COIN for the original XYO Network's BridgeX to enhance home base bonuses and earn more COIN at home!

As COIN has grown XY and the XYO Foundation have also released XYO World. An NFT world map overlay that users can purchase and own through an auction system with XYO. It is still in development and changes are being made pretty consistently. For a while the price of Eth gas fees made the auction and minting system prohibitively expensive. But recently that has begun to change due to EIP1559. XYO World is moving again and I find myself the proud owner of my local geotile NFT! I was able to grab it for 0 XYO+ gas! This is because with the prohibitively expensive gas fees many geotiles that were up for auction expired and the auction went dutch with 0 bids. Perfect opportunity! The geotiles are linked to COIN and the tile numbers can be seen within the app. I've also placed an advertisement on my geotile so users in COIN will get a banner across the bottom that says "area sponsored by Dibbler's Dabbles" and when clicked it opens an image and link to my etsy store. That banner will be seen at some point by everyone that uses COIN within my geotile! I've paid once and have advertising for life in my local area. That alone justifies the expense as COIN continues to grow. I could sell it on Open Sea or other NFT marketplaces if I wished. XYO World also appears to be targeting staking in the future. The website landing page states "Stake and Control the world of XYO" and the XY roadmap lists XYOWorld Geoanchors as a target for this year. I have high hopes for XYO World as a place to earn additional XYO in the future and look forward to seeing it integrated further into COIN. 

There are a lot of people out there who have dismissed XY, XYO, and COIN, but I think its time is yet to come. There is a lot to be said for the features of just the two parts of their ecosystem I've described above. The location data being generated and verifications being performed by users of the COIN app are valuable and with the NFT craze in full swing now is really the time for XYO World to shine. With additional features coming this year and other apps on the horizon (Lifehash, Purchases) XY and the XYO foundation have a long road ahead. Their list of partners continues to impress and expand. My only issue is that the team focuses almost exclusively on development and due to the fact that XY is already publicly held are very very careful about how and when they communicate with the public. I understand they are beholden to the SEC- their next annual report is due this month- but a little marketing would help to fuel the rocket.

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Dibblers Dabbles
Dibblers Dabbles

A newcomer to the cryptocurrency universe recording his adventures, successes, and failures from the lay-persons perspective. Armed with only the most basic understanding of the technology and a drive to learn how to be successful in this space and generate real returns.

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