Permissionless, trustless, censorship-resistant, decentralized architecture, decentralized governance.
In recent years, exchanges across the globe have been shutting their doors to customers simply because a sovereign state has decreed it. X7 is designed to overcome those shortcomings and give power back to the people. A quick definition of terms is in order to ensure the message is consistent and the community is able to understand what each term means.
Permissionless
No individual, organization, or sovereign state actor shall infringe on the functionality and usability of X7's system. We believe the world is better with free speech and freedom and our system is designed to prevent asking permission to interact with the system.
Trustless
Exemplified by the “Problem Statement”section, traditional loan systems have a problem with trust. Principle among them, is the trust that your loan will be repaid. X7's DEX is able to allow trustless loans between the Lending Pool and the Initial Liquidity Loan Requestor, leading to higher market capitalization and access to capital.
Censorship Resistant
Multinational corporations exert massive control over the finances of everyday people and recent stories of Visa, Mastercard, and PayPal blacklisting ordinary citizens from transacting on their networks highlight the need for a system to be resilient and resistant to those forms of censorship.
Decentralized Architecture
Engineering a system to not have single points of failure is a difficult task. X7 will run all parts of the system in multiple locations and open-source the final product so anyone can run the source code anywhere.
Decentralized Governance
Designing management processes to be handled by a group is also a difficult task, but X7's governance strategy is optimized to aggregate large groups' opinions into smaller decisions to vote on. In time, X7 will delegate that 51% of profits generated to community marketing multi sig wallet and community development multi sig and hand over all system controls to the DAO.
