xDollar Weekly Summary #1

Welcome to the Weekly Summary, a weekly series where we go over all of the highlights in the xDollar ecosystem. This issue covers the week of 6/10–6/17.

What is xDollar? xDollar is a decentralized cross-chain lending platform that allows anyone to draw 0% interest loans against $MATIC as collateral with 110% lowest collateral ratio on Polygon network. Learn more here.

Platform Overview

Source: DeFILamma
  • xDollar launched first on Polygon network on 6/10/2021.
  • xDollar has secured 2.48M MATIC locked — $3.36M as of 6/18.
  • xDollar currently has 161 opened troves as of 6/18.
  • The system’s Total Collateral Ratio (TCR) is at 182.5% due to MATIC’s recent price pullback.
  • There are 6 days left for the redemption function to enable. Learn more about how you can redeem $1 xUSD for $1 MATIC here.

Recent Announcements

  • xDollar is incubated by MCN Ventures and two of multi-sig wallet key holders — billtheinvestor & vfat
  • xDollar listed on vfat.tools and ifarm.tools for farming yield tool.
  • XDO listed on DeFILamma.
  • XDO and xUSD listed on coingecko. (The price feed is not feeding correctly — currently in contact with coingecko team for a fix)
  • XDO and xUSD listed on dex.guru. (Recommended to check your price feed on dex.guru.)
  • We were in contact with Polygon official team to provide resources/support to our project.

Items under the pipeline

  • Coinspect audit report expected to complete next week.
  • Multiple reward farming pool is to be finalized next week.
  • A new feature of xDollar platform is under development and details are to be announced next week.

Community growth

  • Twitter: 648 followers
  • Discord: 219 members
  • Telegram Announcement Channel: 96 subscribers

*We decided to create a new discussion group for XDOers interacting with each other on telegram. Here’s the link for telegram fans to join.

xDollar Official TG (English) Link

xDollar Official TG (Mandarin) Link

#XDOers Call For Help

We are XDOers and calling helps from you all. If you have great ideas or suggestions to help growing xDollar in term of TVL and community growth. We would love to hear all from you.

Collaborations— If you think of collaboration ideas that can help with the following please suggest them or introduce to us:

  • Increase use cases of xUSD
  • Increase XDO token value
  • Increase public awareness of xDollar
  • Increase community growth

Suggestions — Send them on our Discord partnership channel

Learn more about xDollar and get involved in the community

Discord

Telegram

Twitter

Docs

“The more you contribute, the more you get” — xDollar

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

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