xDollar SPACE Protocol Multi-sig Upgrade

Source: DefiLlama

HELLO from the SPACE

xDollar V1 first launched in June 2021 as single asset backed stablecoin lending protocol on Polygon and expanded later to Avalanche and Arbitrum L2 chain. xDollar V2 (SPACE) upgrade is an evolved DeFi product apart from its v1 by offering multi-chain multi-collateral backed stablecoin lending services.

Softly launched on the Ethereum, xDollar V2 (SPACE) landed first on the IoTeX network as the first stablecoin lending protocol that users can stake their IOTX, BUSD_b and USDT for xDollar Interverse Money (XIM). As of now, xDollar has accumulated $6M TVL being the largest stablecoin lending provider on IoTeX.

Security First

Nevertheless, the protocol’s security is always our top priority by making sure the features we implement is safe and secure for our users. With that in mind, xDollar v2 (Space) protocol has been audited by the pioneer in blockchain security auditor, CertiK in which our audit report can be found here.

xDollar SPACE Protocol — Multi-sig Feature

In today’s post, xDollar team is announcing a multi-sig upgrade for xDollar SPACE protocol. In the past weeks, xDollar team was working to finalize the multi-sig feature upgrade for the protocol. After testing multi-sig feature rigorously on IoTeX testnet and Polis chain, we are ready to roll out the xDollar multi-sig contract upgrade today. The multi-sig upgrade indeed secures the xDollar protocol by multiple reputable key holders instead of a sole EOA deployer wallet. Furthermore, there is one day timelock enforcement for any contract calls on xDollar contracts. The updated smart contract addresses of xDollar protocol can be found on our document site.

In summary, the xDollar contracts will be owned by multi-sig wallet (0xfBbeCD73d1feC645e477d4b7796349f73Dd4d5ab)which the keys are owned by team representative from xDollar and IoTeX. From the time being, xDollar DAO can nominate and vote for the addition of reputable key leaders to the multi-sig key holders of the xDollar protocol.

What’s Impacting and Action Plans

This multi-sig upgrade would make the current version of XIM contract (0xec690cdD448e3cbB51ed135DF72301C3265A8f80) deprecated and new XIM contract with multi-sig feature (0xB62171f7c637707c9Bd8D300c92137c47f63065E) will be activated starting today.

Please make sure you are interacting with the right and latest XIM contract (0xB62171f7c637707c9Bd8D300c92137c47f63065E) as mentioned above. All XIM updates will be reflected across IoTeX ecosystem partners — mimo protocol, MinMax, Firebird, Magicland, zoomswap, Cyclone, MultiChain and any protocols that utilizes XIM.

Please note that the old XIM contract will be deprecated gradually given a notice for all current XIM holders to remove XIM liquidity from MinMax, swap their XIM or close WIOTX/BUSD_b/USDT trove.

xDollar Frontend UI

Old WIOTX/BUSD_b/USDT troves will be moved to v1 link and the latest WIOTX/BUSD_b/USDT troves will be updated on main frontend UI.

What’s NEXT?

Many of you may heard about $100M Fund announced by IoTeX to support the growth of decentralized machine economy today. And the teaser tweet by mimo protocol about the long waited token launch of the first native DEX on IoTeX! Hence, xDollar is not done yet and will continue to grow its ground base on IoTeX supporting the growing ecosystem with the interaction of DeFi and MachineFi. xDollar DAO have few milestones to accomplish in upcoming weeks. It’s about the right timing for SPACE migration to take place on IoTeX this month! And we will share more about our Zero Borrowing Fee Campaign Launch soon.

Let’s learn more about xDollar Space and get involved in the community

Discord | Telegram | Twitter | Docs| Whitepaper| Linktree

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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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