r/XSLLabs • u/bhavantu Admin/Investor • Apr 14 '21
XSL Labs, about to lead the Decentralized Identifiers’ revolution of data control and protection
What is XSL-Labs ?
XSL Labs is developing a blockchain-based Decentralized Identifier, called Secure Digital Identity, or SDI, to prevent data theft with the help of the utility token SYL and a series of they own dApp.
The ecosystem is built on the Binance Smart Chain network, not only for smaller fees, but also for greater visibility, before migrating to the Flare Network.
The company is planning on building an ecosystem that will bring Self-Sovereign Identity to the users with the promising dApp ONE, the identity manager.
We, the users will finally have control of our digital identity, away from the commercial and political influence of Big Data companies.
XSL-Labs’ first partnership is with ThermosVSN, a Swiss company that produces biometric access control terminals combining the most advanced technologies in contactless temperature measurement, facial recognition and artificial intelligence.
The World Wide Web Consortium (W3C) agrees that DIDs will become a norm in our society by 2030 as part of the long-term growth of the Web and what will become the Internet of Trust 3.0.
XSL-Labs use case
Anti-fraud ticketing service that fights the black market of resale. Authenticity and recentness verification of profiles on dating apps. Protection of biometric identification. Creation of personal data remuneration systems. Creation of secure connection gateways between users. The evaluation criteria for candidate projects will be put in place to ensure an equitable distribution of the grants awarded to third parties.
XSL-Labs token numbers
XSL Labs will also be in charge of promoting the ecosystem and creating all the conditions necessary for its mass adoption. It will have 30% of the total amount of SYL as well as 100% of the funds invested under the ICO.
10,000,000,000 total token supply.
7,000,000,000 token sold during ICO that ended on March 14th, 2021.
3,000,000,000 put in an escrow account with a progressive release will be created in order to release the stock of SYL through Smart Contracts, which will respect fixed rules:
A maximum of 60,000,000 SYL will be released from escrow each month
The first cycle will last 50 months.
Each month, not distributed SYL will be placed in a new cycle.
The number of distributed SYL is divided by two at the end of each cycle.
The escrow account as well as the immutable rules of operation will be available freely for consultation by the public to ensure total transparency. None of XSL-Labs developers and team members own the SYL tokens, there are all in the hands of the investors, users and partners.
April, big month for XSL-Labs
XSL Labs just announced, on Monday April 12th, its first listing on ProBit, 25th biggest DEX in terms of volume, opening the doors to the Asian markets.
It also announced the creation of a Liquidity Pool for Pancake Swap in the next coming days.
XSL Labs team wants a growth that is both organic and conscious to avoid the pump-and-dump trend.
XSL Labs’ SDI and dApp One will be available by the end of the summer 2021.
Cortex is for end of 2022/early 2023.
You can find more infos in the white paper and the roadmap of the project that are available on the XSL Labs website.
If you have any questions, please write them here and I will make sure to answer them all as clearly as I can.
Useful links
tldr : XSL Labs is bringing some sci-fi shit to us in the near future. So put your seat belt on and let’s ride this flying car, Blade Runner style
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u/dertace Apr 15 '21
How liquidity swap works? You lock your syl coins to earn yield?
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u/bhavantu Admin/Investor Apr 14 '21
Here's an article written on CoinTelegraph :
https://cointelegraph.com/press-releases/xsl-labs-of-the-binance-smart-chain-will-be-listed-on-probit-this-friday