SherpaX

SherpaX, the canary network of ChainX, functions as a 'sherpa'. Sherpas are members of an ethnic group in the Himalayas who are famous for their mountaineering and navigation skills that guide climbers through unknown dangers and threatening situations. SherpaX will have the same responsibility and will test new innovative ideas and technological experiments first before they are elevated to ChainX.

Bitcoin Threshold Signature Tool

Aggregation Signature technology based on Schnorr Signature, which will be used in the new cross-chain scheme of XBTC. We will develop a lightweight and fast bitcoin threshold signature tool for the ComingChat app, enabling lightning fast XBTC transfers and DeFi applications.

More Open Blockchain Network

With a more open blockchain network, SherpaX developers will be able to use both EVM and WASM to create DeFi applications. Developers familiar with EVM's development tools will be able to easily deploy their applications on top of the SherpaX network.

Decentralized NFT Auction Platform

ComingChat is a metaverse platform that integrates private social networking, a crypto wallet, decentralized digital identity, DApps and NFT creation and auction. ComingChat has so far issued more than 1,800,000 NFT. SherpaX launches the CID NFT Marketplace "Comfuture".

Thus, new innovative ideas and technological experiments will first be implemented on SherpaX, as it bears a striking resemblance to ChainX (PCX) in terms of design.

Kusama Blockchain

In 2021, SherpaX will connect to the Kusama parachain slot, which will allow it to function as a parachain for Kusama and communicate with other parachains via the XCMP protocol, while maintaining a high standard of network security.

Community Management

SherpaX is managed by all holders of KSX (SherpaX's own token) in a fair and transparent manner, in other words, each member of the community can determine the direction of the future of SherpaX. All KSX holders have the right to make proposals, take part in referendums and run as members of the Council.

KSX

Initially, 21 million KSX will be released in IA0 (initial airdrop offer), and an additional release is planned annually.

Distribution

- 21 million * X KSX for PCX holders (1:1)

, the value of X depends on the time of the auction of Kusama slots (T1) and the time of halving the reward for mining PCX (T2).

- If T1 comes earlier than T2:

An Airdrop of KSX will be made among PCX holders in a ratio of 1:1 in accordance with the actual number of PCX already released, X<50%.

- If T1 comes later or at the same time as T2:

An Airdrop of KSX will be made among PCX holders in a ratio of 1:1, depending on the number of PCX already released at the time T2, X = 50%.

- (100% -x) * 21 million to Treasury

20% of the amount will be used for community management and 80% of bets on Kusama blockchain slots.

- 10% additional issue annually

Issued to the Treasury to reward performers.

SherpaX Vision

As a benchmark and precursor, SherpaX eliminates unexpected risks and paves the way for ChainX.

The initial research of SherpaX is aimed at the following areas:

Moving XBTC from ChainX to SherpaX via the Spider route after it becomes one of the Kusama parachains.

Release synthetic XBTC assets using mirror modeling. A synthetic asset is a modeled expression of its original asset, representing a "parallel world" of existing assets.

Launch Bitcoin derivatives, such as Bitcoin futures and options, and aim to become the largest Tier 2 financial platform for Bitcoin.