xDollar Launch on Polygon Network Details

Launch Highlights

  • xDollar is a friendly fork of Liquity protocol and envisions to become the first cross-chain stablecoin lending platform at multi-chains.
  • xDollar is going to live on with a list of frontend operators to access the platform.
  • There will be 100,000,000 XDO tokens in total. There is no IDO/Private Sale. Token allocation and distribution is detailed below.

xDollar Launch on Polygon Network Details

Deployment

xDollar is going to deploy on UTC 6:00pm, Jun 10th, 2021 and you can access the app through the frontend operator list.

Functionality

Similarly to Liquity protocol, xDollar will be fully functional at launch without redemption function which will be activated after 14 days of launch. Right now, users can open a Trove, deposit collateral and mint xUSD, with options to deposit xUSD to the Stability Pool, stake XDO, and stake Sushiswap MATIC-xUSD.

For the first 14 days after launch, redemption will be disabled by smart contract. This purpose is to encourage the stable growth of the system during its bootstrapping phase and to protect borrowers from otherwise unnecessary redemption while they’re getting used of the platform. Redemption will be automatically enabled by the protocol contract after the 14 day period is passed.

XDO Token

XDO is the secondary token issued by the xDollar. It captures the fee revenue that is generated by the system and also incentivizes early adopters and frontend operators.

In the long term, XDO aims to become the DAO governance token in which token holders can vote and decide how xDollar grows stronger across blockchain networks.

xUSD Stablecoin

xUSD is the USD-pegged stablecoin used to pay out loans on the xDollar platform. After 14 days of initial launch, it can be redeemed against the underlying collateral at face value. In future, xUSD will flow across chains.

On Polygon network, xUSD will be minted when users deposit collateral (MATIC) and open troves. The mechanism for its price stability is well described in Liquity’s doc. We highly recommend to study the mechanism well before accessing to our xDollar platform.

Token Distribution

  • 100 million (100,000,000) XDO tokens in total. (No Presale/IDO)
XDO Tokenomics

47% to the xDollar Community‌

  • 10% for stability pool rewards: Issued to users who deposit xUSD to the Stability Pool. The rewards described by the following function: 10,000,000 * (1–0.5^year)
  • xUSD-MATIC LP (0.05%): will be allocated to LPs of the XUSD:MATIC Sushiswap pool. These tokens are earned by staking xUSD:MATIC Sushiswap LP tokens and will be distributed by the protocol over the course of 60 days.
  • (0.95%) to be deployed for farming pool rewards.
  • The remaining 36% of XDO token is reserved for stability pool and farming pools launching on new cross chain.

15% to Ecosystem

  • 15% XDO are used for funding ecosystem partnerships to help growing xDollar in long term. This portion token is subjected under 1 months lockup and 2 months vesting period.

15% to Team

  • 15% XDO in this category are awarded to team and future team expansion. This portion token is subjected under 6 months lockup and are 1/2 vested after 6 months of engagement, and then 1/18 every months after. (24 month vesting period)

14% to Foundation/Treasury

  • 6% XDO tokens are reserved for foundation and are under 12 months lockup.
  • 8% XDO tokens are reserved for treasury to be used for xDollar’s growth and locked onto multi-sig wallet between the xDollar Team and the Incubator.

8% to Incubator

  • 8% Tokens in this category are allocated to the incubator (MCN Ventures) for their active involvement in incubating xDollar to next level. This portion token is subjected under 6 months lockup and are 1/2 vested after 6 months of engagement and then 1/18 every months after. (24 month vesting period)

1% initial startup

  • 1% XDO in this category are released to bootstrap the xDollar platform after the platform goes live. This portion token is expected to cover the following items including the marketing/bootstrap/team involvement/ initial LP liquidity/bounties/expenses/airdrop.

Stability Pool on Polygon network

10% for stability pool rewards will be activated immediately after the successful deployment of contracts.

LP Farming on Polygon network

  • MATIC/xUSD -SushiSwap-LP will be activated immediately after the successful deployment of contracts.

Summary

Hello blockchain! We are excited to embark our decentralized lending journey on Polygon network. Our journey doesn’t stop here and it is just beginning. For those who support xDollar at this early stage will be remembered and awarded! “The more and the longer you stake, the more rewards you will get.”

Last but not least, we will stand together with Liquity’s vision to expand the dominance shares of collateral based stablecoins in the entire cryptodollar industry.

Making cross chain lending easy and more efficient!

Learn more about xDollar

Website: https://www.xdollar.fi

Gitbook: https://docs.xdollar.fi

Twitter:https://twitter.com/xDollarFi

Telegram: https://t.me/xdollar_ann

Discord: https://discord.gg/c8c7Wm2EEx

Medium: https://xdollarfi.medium.com

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

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xDollar

xDollar

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

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