Qubic unveils Project X, a new initiative to fuel crypto ecosystem growth 
Cryptocurrency Aug 27, 2024 Share
Qubic, a Quorum-based distributed ledger technology platform, has launched Project X, a new initiative designed to foster sustainable long-term growth, as disclosed to Finbold on August 27.
The project introduces a series of enhancements aimed at balancing emissions, boosting earnings, and empowering community-driven development.
Building a more sustainable Qubic ecosystem
Project X is expected to benefit Qubic users, developers, community members, and partners alike.
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A key feature of the initiative is a protocol upgrade that enables specialized nodes, known as computors, to allocate a portion of their weekly rewards to initiatives deemed beneficial to the ecosystem.
Qubic has likewise implemented a 15% reduction in emissions, with plans for annual halvings, ultimately capping the total supply at 200 trillion QUBIC (an 80% supply cut).
Stabilizing the network by balancing emissions and token burns is critical for sustainable growth.
The significant supply reduction also lowers the Fully Diluted Valuation (FDV) from $1.7 billion to $340 million, potentially enhancing Qubic’s market appeal and positioning it for greater investor interest.
In addition, a newly proposed reallocation strategy directs 8% of weekly emissions to the Computor Controlled Fund (CCF), a treasury fund dedicated to software development, marketing, and various community projects.
This fund is expected to play a crucial role in accelerating the ecosystem’s expansion.
Engaging the Qubic community
The community initiative offers rewards for locking QUBIC, reducing the circulating supply and fostering long-term engagement.
The program also features reward redistributions and token burns for early withdrawals, reinforcing sustainability.
As such, Project X underscores Qubic’s dedication to decentralization, innovation, and community participation, providing a platform where community members can actively contribute to the ecosystem’s growth.
A new chapter in crypto innovation and the future of Qubic
Alber Fernandez, Qubic’s Ecosystem Representative for Europe, called Project X a testament to Qubic’s decentralized approach.
For the first time, the platform is seeing the whole crypto community come together to balance emissions, mining growth, and long-term sustainability.
With Project X underway, Qubic is poised to revolutionize its ecosystem through a series of phased rollouts scheduled from now until late September.