I am Captain X together with Captain D and Captain O. Welcome onboard xDollar spaceship since beginning. As of today, xDollar has been sailing in the DeFi space for exactly two months. Thank you for committing your time and talent to build and grow xDollar. I am very glad to witness the growth of xTEAM to an eight crew team spanning research, product development and operation. And of course we won’t stop here and will keep expanding xTEAM to gather talent across the industries to xDollar talent pool.
In remembering our two monthsary journey, I am writing this letter to update xDollar current progress and keep everyone syncing with where xDollar is cruising ahead. Before going through the updates, I want to assure that three of us know everyone is working hard on their role in building xDollar and feel gratitude to have all talents on board.
To be frank, it’s often challenging yet rewarding experience for us to start this DeFI journey. As we build, we learn from the mistake we made and iterate quickly to fix things right. Thereby, it is understandable there may be hurdles and the process is not perfect yet. So I encourage xTEAM members to ask questions if you have doubt, take initiative to interact with each others and welcome to propose suggestions for any improvement in any areas.
What we wish to cultivate in the team is all of us will bring our real world experience and help to shape the xDollar’s self-initiative culture.
Alright, let have some updates on following key components of xDollar platform!
Development – “In Code We trust”
Captain D Is leading a significant effort with dev team to bring xDollar v2 live in Q3 2021. The successful execution of this milestone will be a capability showcase to the DeFI space. With the launch of xDollar v2, we expect with more collateral types, the supply of xUSD can be increased tremendously which boost the total value locked on the platform. The increase of TVL provides our community a direct metric to measure platform’s growth. Hence, this is major innovation building on top of our parent fork, Liquity. In addition we have design and UI/UX talents working diligently to revamp our branding as a space exploration theme. I believe by the end of Q3, we will eventually tearing off the label of being known as fork project and becoming our own branding.
Research – “In Data We Differentiate”
xDollar Research (XDOR) is our unique differentiation from other projects. In fact, XDOR is a research talent aggregator pool which led by an experienced quant PhD researcher in traditional financial system. I myself with research background am exploring state of the art literature and connecting dots everyday in my real life. Hence, I understand the key to a project longevity is definitely belonging to research innovation. Our research team is delivering superb analysis on ensuring xDollar v2 is stable, secure and safe backed with microeconomic modeling and simulation. This also brings the opportunities for XDOR to publish our own white papers and make our name out loud in academic space soon.
Operation – “In Management We Excel”
xDollar has been operating smoothly without big issues since beginning. Thanks to Captain O who is managing xDollar’s daily operations to ensure we are sailing smoothly in the DeFI space. Managing the emission rate of XDO is a master art required diligent observation and management on market expectation and reaction. Other than that, reaching out for potential early adopters and partnerships are also the priorities of xDollar operation. We want to ensure that funding isn’t a barrier for xTEAM to move forward and the project has sufficient supplies to go thru ups and downs of the market. Besides, we also actively seek for partnerships to form a strong xCHAIN alliance to conquer the DeFi universe. One star alone can’t make the universe, but connecting stars it’s creating enormous energy in the space. So far we have Dfyn, Kyber, Iron, Firebird, Polycrystal, GYSR on board.
Community – “In Community We Thrive”
Nevertheless, xCommunity is always the central pillar of xDollar and motivating us to stay on course. I am thrilled to witness how xDollar community grows from 0 to 1600+ members on discord, 2700++ on Twitter, 1200++ on telegram and 130+ on Medium. Members from xCommunity are actively engaging each other on this spaceship. They are creative and initiative to explore what’s best for xDollar. Out of our community exploration, we got connected with Kyber, mStable, SportX, Beluga and many more. Besides, we also have XDO bounty reward for awarding creative community on their initiative. To name a few, our xCommunity member developed Dune Analytics, launched MEME Contest, initiated xDollar Ambassador Program, created video/article contents and volunteered to maintain xDollar spaceship. The contribution from xMembers will make us difference than other projects and set us on right track to become leading player in collateralized stablecoin industry.
Last but not least, the message all captains want to convey in this internal letter is that
“We are building and growing xDollar everyday with vision to make our name in DeFI universe. One day, our xDollar platform which consists of all your efforts including hard dev works, beautiful designs, insightful papers and growing community will be known to the world.”
Thank you once again for your contribution and let’s continue sailing together with passion and love to make a difference for the future of blockchain.