Payment Protocol, Solareum Wallet and XSB
First of all, Team Solareum would like to thank you for your support for Solareum Wallet in the past time. Below is the information of the two founders of Solareum - Pham Minh Tam, and Nguyen Thanh Quang.
Pham Minh Tam graduated from University of Information Technology - Vietnam National University, Ho Chi Minh City. He has been working for the famous Japanese crypto exchange since 2017. At that time the company only had 15 people working together in a small apartment. After the 2017 boom, the company also grew rapidly. Thanks to the experience gained while working for the crypto exchange from such early days, Tam has partly developed financial skills for himself.
Before starting with Solareum, Tam also spent a lot of time developing an application for personal interests - GoSunny, an application that helps young people learn English in the most natural way, through collecting sounding English readings every day. This application is also receiving certain attention from young people - https://goingsunny.com/ 34
For Tam, if he had to choose two fields to stick with for the rest of his life, he would choose Education and Finance. Because Tam is always haunted by the words of the revolutionary Phan Chau Trinh - “Khai Dan Tri, Chan Dan Khi, Hau Dan Sinh”. If education is the wisdom of the people, then mastering the financial instruments will be a victory for the people, and thanks to that, people’s lives will naturally sprout, blossom and bear fruit. And those results will last for years.
Nguyen Thanh Quang graduated from International University - Vietnam National University, Ho Chi Minh City. Quang also has a huge passion for decentralized financial products. Quang and Tam together founded Wealthclub with the desire to share financial knowledge with young people who are eager to learn. Quang has demonstrated his understanding of crypto projects through researching and publishing articles about potential tokens. You will easily find these articles on WealthClub.
Realizing that, Web3.0 is a very fertile land, but not many people are interested. Therefore Tam and Quang decided to develop Solareum Wallet, as a springboard to connect the current digital world with the future decentralized world - web3.0. Solareum’s biggest goal is to popularize crypto to the majority of people, helping them realize the benefits that the decentralized world brings. Thereby giving users more choices for financial instruments, making them more comfortable in their decisions, more free to exercise their own thoughts.
Features of the current Crypto market
Web traffic from mobile devices surpassed desktop visits a few years ago. Even people have skipped the computer stage and gone straight to the entirely mobile stage, especially in developing nations. Despite this, the majority of today’s decentralized financial products are produced on the web, with little regard for mobile customers. As a result, the Solareum team aims to be the first to fill that void. To make it easier for people in poor countries to get access to cryptocurrency.
🍍Crypto users are not high yet
According to calculations from experts, currently the number of people who know about crypto is only about 5% of the world population. It’s comparable to people using the Internet in 1992. Thus, we can see that the potential of the crypto market in the future is still very large. With a focus on product development for mobile devices, Solareum hopes to take the lead, to become a pioneer in the application of crypto in daily life.
🍍Diversity of decentralized products
Day by day there are many decentralized financial products - DeFi, developed and born. At this point, it’s understandable if there’s a lot of interest in DeFi. But I firmly believe that is not all that the decentralized world can do. DeFi is just one of the stepping stones to bring crypto into the nooks and crannies of life. And society will still need a lot of other products to install to complete the decentralized world - web3.0. Which DeFi is only a small part of.
Solareum envisions itself as such a product. We aspire to be one of the missing pieces to complete the decentralized world - web3.0.
🍍Putting crypto into practice
If modern technology is held in storage indefinitely, it will be of little use to civilization. There are currently too many products designed to serve the few individuals interested in finance - DeFi - but there are too few decentralized goods that serve the daily needs of each person, such as social networks, games, and easily and efficiently transferring and receiving money…
Solareum was born not with the goal of changing the decentralized world, but simply to bring the decentralized world to more people, millions of people. People who were skeptical about crypto before, people who didn’t believe in the existence of blockchain. Solareum will help them change that mindset. Solareum will continue to grow, and improve, even by the time you can go to the market and pay with XSB/USDC/SOL/BTC on Solareum Wallet, we won’t stop.
Solareum’s product development philosophy
1. Safety, this is the factor that Solareum will always put on top, and will not trade it for any other benefits. The safety of users is the mission that we always pursue.
2. Simple, We don’t focus on complicated and cumbersome features. Which will turn cumbersome and complicated features into simple and easy to understand, helping your grandparents and friends can also use it. The simple things are the ones that will last the longest.
3. Transparency, Solareum does not collect any of your information, nor does it analyze the data to understand you. Using Solareum you are completely free in the decentralized world.
4. Boom, Solareum doesn’t develop features for 1000 or 10k users. We develop products for millions of users. Only when there are millions of users will Solareum have a chance to fulfill its mission.
5. No one is left behind. No matter who you are, what kind of person you are. Solareum does not deny anyone, the same way the decentralized world does not favor anyone. This philosophy will also apply to all the communities where Solareum is growing. We always look forward to hearing from you all to improve every day.
This is the first product of Team Solareum, a crypto wallet developed on Solana. This is the first step for Solareum to set foot in the decentralized world. The team will always try to give the latest updates to serve the ecosystem and the community.
🍍Serum Dex Client
As a Solarum admin once said: Rivers may dry up, mountains may wear out, but the Order Book DEX will never change. Previously, blockchains like BTC, or ETH, were limited by TPS - Transaction per second. So it is not feasible to develop decentralized exchanges that support Order Book.
Solana is like a breath of fresh air, with an initial speed of 50k TPS, and the ability to upgrade to about 1M TPS. Solana opens a new door in the future, something we never dared to dream of before. It’s the experience of matching orders on a decentralized exchange like a centralized exchange. Thanks to its low cost and fast speed, Solana will be suitable for the vast majority of users with many basic needs in life.
Solareum will take the time to develop and perfect its own version of the Serum DEX client. Hope to help people get experience like in traditional centralized exchanges, right on the phone. Helps you not to miss any investment opportunities, even on the go.
We won’t know how the web3.0 world will shape in the future. The easiest way to not be left behind is to start doing it today. And Lightning Rewards is one such product.
Lightning Rewards defines itself as a payment protocol in the decentralized world of the future. When you can make transactions on any platform, anywhere, in many different ways. Lightning Rewards will closely connect with Solareum Wallet to ensure that the private key will never leave your phone no matter what platform you make transactions on.
It can be understood that Lightning Rewards is a protocol, a set of pre-programmed commands, that enables Lightning Rewards to securely communicate with Solareum Wallet. Therefore Lightning Rewards will not have a definite shape.
Team Solareum as well as its partners will develop applications on this protocol. Applications can be integrated on mobile applications, or on browser extensions, or integrated into games… and other environments in the future.
You can visualize using Lightning Rewards through some examples such as:
If WealthClub is a mobile application. Users can go to WealthClub to read financial related information. WealthClub will be connected to Lightning Rewards allowing readers to Rewards writers for a certain amount of XSB by liking a post, for example, very quickly and conveniently. This motivates writers to bring more value to the community.Or the points-collecting apps of brands, instead of rewarding users with points, they can reward users with XSB - tokens that users can exchange and sell outside. Brands can benefit from greater public awareness.Or mobile Games, instead of using self-issued game coins they can use Lightning Rewards to connect to their game. Information about their game will be published to the vast community of Solareum. As a result, they also have more revenue.
WealthClub is one of the efforts to help spread financial knowledge to the community. Because the potential coin will not appear in front of you for the rest of your life. You must learn to stand on your own two feet by understanding, and mastering, financial instruments. And WealthClub was born to help you.
WealthClub will not stay out of the Solareum ecosystem. Solareum will always pay a certain attention to WealthClub. Hopefully this will be an effective communication channel between the team and the community.
The team will deduct part of the profits from business activities, to maintain and develop content for WealthClub. You can get XSB Rewards by sharing useful knowledge and experiences to the community. Lightning Rewards will be considered for integration into WealthClub as soon as it is completed.
This is a token issued by Solareum, total supply: 975,000,000 XSB, with 65% of the token distributed to the community - XSB - Allocation 18, we believe that the token is created for the community, developed by the community and for the community.
XSB will be used as the main token on the Lightning Rewards platform, a reward platform with the desire to connect the centralized world with the decentralized world of blockchain.
- Total amount of tokens: 975,000,000 XSB
- Valuation: 1 SOL = 20,000 XBS
- CAP = 48,750 SOL → $6,337,500 (September 22, 2021 ~ $130)
🍍XSB Token Details
- Contract Address: 4UuGQgkD3rSeoXatXRWwRfRd21G87d5LiCfkVzNNv1Tt
- Name: Solareum
- Symbol: XSB
- Decimals: 9
We believe that everyone should have the same opportunity to receive tokens, because blockchain was created to create a more free environment, helping ordinary people also have more opportunities to have a financial platform. main stronger. Therefore, the Solareum team decided to distribute 65% of the total supply of XSB to the community. In the hope of quickly creating a free market. Below is how Solareum allocates tokens:
Total supply: 975,000,000 tokens
- 50% Will be airdropped to promote the app download process, helping to quickly create a strong enough ecosystem and leading in the segment.
- This will hopefully become an explosive marketing campaign for the Solareum platform.
- 5% For early bird
- 15% Will be given to the community to help develop Solareum, help Solareum go Global
- Translation, market research
- Partners, Experts, KOLs
- 20% For the team
- 4% will be unlocked as soon as the app reaches 500k downloads.
- 5% will be unlocked when the app reaches 2M downloads
- 5%: will be unlocked as soon as the app reaches 5M downloads.
- 6% will be unlocked when the app reaches 10M downloads
- 10% For Founders
- Will be unlocked after reaching 10M downloads.
🍍Benefits of owning XSB
Quarterly, we will deduct part of the profits from Solareum’s business activities and buy back XSB. The amount of XSB obtained will be continued to Airdrop for new users. Airdrop will be a long-term and important Marketing campaign of the Team.
Those of you who own XSB will benefit from the increase in the price of the token. Through the fact that more and more people know and own XSB. Through that, the liquidity as well as the price of XSB will be increasingly enhanced.
XSB will also be used in the Lightning Rewards ecosystem that Solareum will develop. Hopefully, it will bring convenience and comfort to XSB owners in daily life.
How does Solareum make money?
- Advertising revenue from users when performing tasks every day.
- Implement Lightning Rewards service integration for partners: Game, App, Web…
- Fee for listing on the Serum DEX version developed by Solareum.
- Transaction fees are paid from Serum DEX.
- Advertise & run Airdrop for new tokens.
Because Solareum is a company, so in the process of development, if there are opportunities, new features or products, without deviating from the original vision of the team, and at the same time meeting the needs of the community. Solareum will always consider acquiring and developing.
Below are the key milestones:
01/10/2021: Launch Solareum Wallet
01/10/2021: Start running the biggest airdrop campaign in crypto history
10/2021 - 11/2021: IDO - Only 5% of tokens will be sold as public sales, see Evaluation - Strategy 63
12/2021: List on Serum Dex
- Q1/2022 - Q3/2022
- Improved Serum DEX Client, making it easier for people to interact with Serum DEX. You will have the experience of a centralized exchange on a decentralized product.
- Solareum Lighting
- 2023 - 2024
- Contact partners to integrate Lightning Rewards on more platforms.
- 2025 - 2026
- At this time, Solareum is solid enough to develop more new features according to the needs and orientation of the market.
🍍Airdrop + Referral Program
As you know, the Airdrop + Referral campaign is a long and thorough campaign in Solareum’s activities. The goal is to expand the user base that knows XSB, from which the Lightning Rewards ecosystem will be developed.
Holders of XSB tokens will benefit from more people knowing and using XSB. Because Solareum’s user audience will be much more diverse than tokens focused on the financial sector. So the number of Solareum users will become extremely explosive.
Below is the plan and how to allocate XSB tokens for the Airdrop.
🍍How to allocate 50% of tokens for Airdrop
The price per download for the Airdrop should not be too high, so that it can affect the team’s weekly token sale. Nor should it be too low, to lose all incentive to recommend.
- Total: 487,500,000 XSB → 2437.5 SOL → 3,168,750 USD
- Desired downloads: 10,000,000
- Each download costs: 48.75 XSB = 0.3169 USD ~ 7,319 VND
- Referee: 40 XSB fixed (~ 0.002 SOL for mint address)
- Referrer: X XSB, where X is a variable. Therefore per download, the maximum number of tokens for the referrer is 48.75 - 40 = 8.75 XSB ()
- There is no limit to the number of tokens that the referrer can receive.
How to calculate variable X?
Variable X is created to motivate new people (influencers) to encourage followers to download more apps, variable X helps them to achieve more than 8.75 XSB per download.
At the same time, the total amount of distribute tokens for 10,000,000 downloads cannot exceed 50% of the total supply. After 10,000,000 downloads, the airdrop will end.
PS: During actual running, the number may deviate by about ±5%
X = delta * 8.75 From 0 -> 1.000.000 installs delta = 2.5 From 1.000.001 -> 2.000.000 delta = 1.5 From 2.000.001 -> 4.000.000 delta = 1 From 4.000.001 -> 8.000.000 delta = 0.75 From 8.000.001 -> 10.000.000 delta = 0.5
This is a program to develop content related to the financial sector, which will be implemented mainly on WealthClub + (and other partners, if any). Users will receive XSB rewards from the program if they provide quality articles to the community.
Lightning Rewards will be prioritized to integrate soon to WealthClub to give content developers more motivation and income to continue their dedication journey.
Vision and meaning of the project
The original Earth had no boundaries. Borders are man-made. The decentralized world is gradually reshaping the world we live in, in a more positive way. Human-defined borders are slowly becoming more open in the decentralized world. That opens up more opportunities for everyone. I firmly believe that blockchain/crypto will slowly transform the world in a more positive way. And now is the best time to start.
People are currently very interested in entertainment material, whereas content connected to knowledge has garnered little attention. Solareum aspires to strengthen those who devote their efforts to society’s advancement. With the launch of the Solareum Wallet and Lightning Rewards, content creators should be rewarded more generously. Assist them in continuing to devote themselves to creating more valuable things for humanity.
Hopefully with the presence of Solareum, it will close the gap in income, and mindset between many parts of the world. By providing financial tools, and guiding people to master financial instruments. Help them have more choices in life.
Possible risks to Solareum
🍍Google risk: Most of Solareum’s revenue in the beginning will come from advertising. So if Solareum is blocked by Google then most of the revenue will be lost.
🍍Risk from Apple: Solareum Wallet is shaping up to be a mobile wallet. Therefore, the influence of Apple cannot be ignored. Apple is a rather rigid platform, requiring developers to follow quite a few rules for the apple side. If blocked by Apple will also bring Solareum a big loss.
🍍Risk of being hacked: Because Solareum spends 50% of tokens to be distributed to the community through Airdrop. So the risks of being hacked during the Airdrop process are still possible.
→ Therefore, Solareum will soon work with lawyers to avoid possible legal risks at the earliest. At the same time, allocate resources appropriately to find and prevent system-related risks at the earliest and fastest. Hope to bring peace of mind to the community.
🍍Phạm Minh Tâm
— Lead of Engineering
🍍Nguyễn Thành Quang
— BD & Finance
Hopefully, through this Whitepaper, Team Solareum partly conveys its thoughts, views, and vision in developing and perfecting Solareum.
Thanks to everyone who took the time to work on this project,Solareum team
- Solareum evaluation and strategy: [EN] Solareum: Evaluation - Strategy 63
- Download app: https://solareum.app/getwallet 25
- Website: https://solareum.app 42
- Telegram: Telegram: Contact @solareum_wallet 49
- Twitter: https://twitter.com/solareum_wallet 38
FAQ - Frequently asked questions
1, Do we plan to burn XSB?
We don’t have enough information at this time to make this decision. So the current answer is no. We will always think to answer this question soon for you.
2, Does the team plan to develop AMM?
No, we have only completed the Serum DEX client, and have not, nor do we intend to develop Solareum’s own AMMs.
3, Why does the team only have 2 founders?
The team has only 2 founders, but there are more than 500 brothers supporting the project. And there are some of you who are working on the project. Solareum believes that one person should be able to do many things. Challenge yourself and have a more interesting life at the same time. So Solareum will not recruit many, but will instead recruit quality.
4, What does the team think about being invested by the big guys?
The decentralized world makes the gap between big and small narrow. This man is big today, but tomorrow may not be the same. Having the support of the big guys is something that every project looks forward to, and Solareum is no exception. But first Solareum will practice standing on its own two feet first. Receiving support from the big guys too soon will affect the decision making of Solareum. For Team, the interests of the community always come first.
5, Total supply of XSB?
6, When to list XSB?
Currently there is no specific plan, if everything goes according to plan, we will list on serum dex in December.
7, Evaluation - Strategy
8, Solareum is an individual or a business?
Solareum is a software development company established in Vietnam. All activities of Solareum are under the management and supervision of the state. Apple is very strict in releasing Crypto applications to the Appstore, individuals will not be allowed to publish crypto-related applications to the Appstore.
9, Why is Solareum airdropping 50% of the total supply
It sound hilarious, but actually is for our own interest. We want to bring you something fun and useful. Disseminating crypto to the community is one of the team’s missions. If you’re reading this, we’re sure you’ll get your XSB soon. We completely believe that crypto will play an important role in financial market and even your life in the future and we want to share that idea to everyone. That’s why we build this project with motto: “Build community, For community”
10, How to use Solareum Wallet safely?