Story behind Decentralized xUSD-DAI LP on Kyber Network

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Mark the time. On 9PM UTC 2021/07/31 — xDollar is going to launch xUSD-DAI stablecoin LP on Kyber Network, a next-generation AMM designed to maximize the use of capital by enabling extremely high capital efficiency and reacting to market conditions to optimize returns for liquidity providers.

Story behind Decentralized xUSD-DAI LP on Kyber Network

Since launch, we put priority in building a community driven project with a group of blockchain enthusiasts from around the world that believe in the vision of xDollar to be next generation of collateral based stablecoin in this DeFI universe.

We are blessed to observe our community members are creative and initiative to explore what’s best for xDollar’s growth in adoption, use cases and liquidity of our stablecoin, xUSD.

Shoutout to #jeffery, our xAdopter as well as xMOD to first propose Kyber Network to the team and #avinkhan1, our xAdopter to first explore liquidity experiment with Kyber’s DMM.

Community initiated stablecoin LP on Kyber’s DMM by alvinkhan1.

TL:DR — xDollar learnt that Kyber xUSD pool with less initial capital provided by the community member is always the most optimal route for xUSD swap across all DEXes including those high liquidity stablecoin LP on AMM DEX.

Thereby, xDollar team is motivated by the xCommunity to provide XDO incentive on Kyber xUSD stablecoin LP pool for next 30 days for encouraging deep liquidity and better capital efficiency.

The motivation behind xUSD-DAI LP pair is due to the common characteristics of DAI as non-custodial decentralized stablecoin in the space.

In the meantime, xDollar Research (XDOR) is exploring the liquidity experiment between AMM and DMM DEXes. XDOR will share our research insights after the end of both incentive liquidity mining programs.

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xUSD-DAI Kyber LP Provider POAP Series

As a souvenir to remember the first xUSD decentralized stablecoin LP listing milestone, we are launching xUSD-DAI Kyber LP Provider POAP giveaway campaign for those who interact contracts with providing LP and farming on xdollar.mcn.ventures during the entire farming period.

Last but not least, xDollar’s liquidity exploration journey is just beginning. Stay tune for more updates from xDollar. We have more partnerships announcement coming soon!

Exciting for what we been sailing so far in the space! — Captain X

With passion & love,

Captain X

Learn more about xDollar and get involved in the community

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First Cross Chain Interest-free Borrowing Platform based on Liquity protocol.