Deep Dive: ISO
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Deep Dive: ISO

Initial Sensor Offering (ISO) is the next key milestone that we at MXC Foundation are truly excited about.

In order to understand this article in its entirety, it is beneficial that you have followed the previous content. If you have not done so already, click here to watch an interview with the Head of Product, and click here to read introductory material on ISO

Based on the last series of updates, we hope that everyone is now relatively well-informed on what is ISO, and the purpose it aims to serve. In this article, we are taking a deeper dive into ISO, studying its direct benefits, implications, and some imminent expectations. 

Importance of ISO for MXC

Over the past years, MXC has been building the world’s largest Web3 IoT data network, powered by tens of thousands of miners located around the world. The introduction of Proof of Participation also converted these miners into true stakeholders in the success of the entire ecosystem. As a result, MXC has achieved the key crucial element: a massive supply of Web3 IoT connectivity.

ISO is designed to create the demand for such supply. As various entrepreneurs and projects build and launch on top of the MXC data network via ISO, they bring an organic need to utilize the connectivity provided by the miners within the MXC ecosystem. Since these projects onboard sensors to be the backbone data source of their protocol, the generated demand from the sensors is expected to meet and gradually exceed the supply of the data network. 

This creates a scarcity of data connectivity, attracting more miners and stakeholders, and ultimately contributes to the next-level growth of the entire MXC ecosystem and its value offering.

How ISO Fosters Innovation

ISO is built to serve as a type of launchpad for Web3 native IoT projects. However, ISO is more than a simple launchpad. It’s a series of infrastructure, services, incubation, and guidance that is aimed at providing the necessary support for early-stage teams and projects. 

When launching a new project, the progress is daunting. Sourcing the right development resources, building a community of interested people, and bringing a product to the crowd are some of the most important challenges that early-stage teams face. We believe that ISO will be an incredible tool that helps meet these challenges. 

Via ISO, projects are benefiting from one of the easiest development frameworks currently available in the market. ISO is equipped with guidelines and best-case practices for teams to follow in order to successfully build their product with a minimum bottleneck. As ISO is offered within the MXC ecosystem and on the DataDash app, ISO projects benefit from pitching directly to hundreds of thousands of interested, invested parties. When it comes to product launches, these projects utilize the MXC data network to deploy their solutions and do not have to be concerned with the basic infrastructure. 

Investing in the Success of ISO

MXC Foundation, in partnership with various institutional investors, is launching a purpose-driven fund to incubate ISO projects and invest directly in the success of these projects within the MXC ecosystem. Once projects submit their ISO applications, the allocation of funding will be provided via a rigorous, multi-party vetting process that takes into consideration various factors, such as: 

  • Project viability
  • Degree of innovation
  • Dominant primary focus on Web3-native IoT solutions
  • Compatibility with the MXC ecosystem
  • Clear incentive structure for relevant stakeholders such as miners, staking participants, and data providers
  • Sound economic model, proven by solid tokenomics

More information will be revealed in the near future in regard to the application process, further guidelines, requirements, and the funding size. 

Expectations for the MXC Community

Within the next few weeks, the MXC community will be able to see the initial launch of ISO. Those who are looking to build on top of the MXC network may submit their applications, starting the vetting process. Following that, the MXC community will witness ISO campaign launches, driven by third-party projects that are looking to build on top of the MXC network. 

During the ISO campaigns, the larger MXC community will notice that the projects offer varying degrees of incentive in exchange for support. The incentives may include access to project-native tokens, the increased utility of the MXC tokens, and more. Those who hold MXC tokens or are otherwise invested in the success of the MXC ecosystem will have the chance to be among the first people to participate in the launchpad campaigns. 

In order to bring further accountability to the ISO projects and stability within the ecosystem, the ISO projects may be required to lock a significant number of MXC tokens. This will ensure that the third-party projects are not only invested in their own success, but also in the expansion of the MXC data network. Meanwhile, the increase in the number of locked MXC tokens is expected to bring a gradual token scarcity as well, bringing even more benefits to the MXC community. 

We look forward to unveiling the first series of ISO applications soon, and receiving the support of the global MXC community and beyond to support the launch, growth, and success of Web3-native IoT projects and the MXC ecosystem. 

MXC Foundation

MXC Foundation