xDollar powers Multi-Collateral Decentralized Stablecoin, xUSD on Polygon!
xDollar is thrilled to power multi-collateral based decentralized stablecoin, xUSD on Polygon starting with MATIC and soon with other collateral types like ETH, BTC, and XDO community choice of tokens.
100% Platform Revenue Sharing. Fair Liquidation Gain Distribution. NO Transfer Fee. Soon to be DAO, Multi-Collateral & Cross-Chain.
Polygon’s scaling solutions have seen widespread adoption with 400+ Dapps, ~350M txns and ~1.5M+ unique users. Polygon’s DeFI ecosystem has been rapidly growing with more than 200+ DeFI Dapps including Aave, Curve, mStable, Sushi, Quickswap, DFYN, 1inch, Beefy, Pooltogether, Unilend building on Polygon to create a #DeFiForAll experience.
xDollar is an interest free lending platform that Polygon users can borrow decentralized stablecoin, xUSD against MATIC used as collateral. xDollar’s ultimate mission is to bring decentralized stablecoin in movement whereas the current stablecoin sector is still dominated by fiat-backed stablecoins like USDC and USDT. Soon we will release xDollar v2 which is a multi-collateral-based lending platform where users can stake any ERC-tokens in addition to MATIC to borrow xUSD without selling their ERC tokens.
Why xDollar launch first on Polygon?
xDollar’s vision is to become the first cross-chain decentralized lending platform on multi-chains. Here are few reasons why xDollar launched first on Polygon.
First, integrating with Polygon will enable reduced gas fees, faster transactions, and a seamless experience for xDollar users.
Second, xDollar will definitely benefit from the growing ecosystem being built on Polygon, which now includes some of the leading cross-chain DeFi projects — Aave, Curve, Sushi, 1inch, Beefy, Wault Finance, making Polygon a perfect ecosystem provider for xDollar as we strike to develop scalable cross-chain decentralized stablecoin minting platform for mitigating risks poses by centralized stablecoins.
Third, xDollar is thankful to get started on Polygon with strong support and rich resources provided by the selfless Polygon team and active community. We feel welcome to develop the decentralized stablecoin solution on Polygon and share the same vision to make the Polygon ecosystem a thriving place for all. These motivate us to push more beyond the boundary and build a better crypto world.
With these advantages, Polygon users will be able to quickly stake MATIC/other ERC-tokens and mint xUSD from the platform at near-zero cost. On xDollar, we believe that a great platform can’t be successful without integrating wholly with the ecosystem. Thereby, xDollar are constantly seeking deep integrations with ecosystem partners to bring the multi-collateral-based decentralized stablecoin movement next level. With a rich ecosystem incubated on Polygon, xDollar will eventually grow into a critical DeFI player in the decentralized stablecoin minting industry.
About xDollar
xDollar is an interest free lending platform that users can borrow decentralized stablecoin, xUSD against MATIC collateral on Polygon with a minimum collateral ratio of only 110%. The platform implements a systematic liquidation mechanism (stability pool) and fair platform revenue fee distribution (stacking pool). xDollar’s vision is to become the first cross-chain decentralized lending platform on multi-chains with DAO governance and a multi-collateral vault system.
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About Polygon
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 400+ Dapps, ~350M txns and ~1.5M+ unique users.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
