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 6/18–6/25.
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
- xDollar launched first on Polygon for two weeks.
- xDollar has secured 3.17M MATIC locked — $3.27M as of 6/26. An 27% weekly growth on the MATIC locked despite market condition.
- xDollar currently has 152 opened troves as of 6/26.
- The system’s Total Collateral Ratio (TCR) is at 178.3%.
- The redemption function is enabled. Learn more about how you can redeem $1 xUSD for $1 MATIC here.
Recent Announcements
- xDollar’s smart contract audit report was released by @coinspect with no issues to fix. https://twitter.com/xDollarFi/status/1408179251283644423
- xDollar POAP Early Series is launched yesterday and well received by the community. Everyone loves POAP!
- xDollar early adopter POAP is for those who opened a trove by depositing MATIC to our xDollar platform and borrow xUSD & maintaining the trove for more than 7 days. This POAP is time-senstive, limited in number, and exclusive for future XDO airdrop based on everyone’s contribution to xDollar.
Items under the pipeline
- xDollar is expected to launch xUSD-DFYN farming pool on DFYN’s dual farms earlier next week.
- Multiple reward farming pool is in the final testing phase from our incubator — MCN Ventures.
- xDollar v2 platform which includes more collateral than MATIC is under dev and welcomes community discussion on which type of collateral is to be added on the community-suggestion discord channel.
- xPartner POAP Series is to be released with upcoming partnerships on Polygon ecosystem. First one being xDollar-DFYN POAP, more details follow.
Community growth
- Twitter: 1876 followers (188 % weekly growth)
- Discord: 1000 members (356% weekly growth)
- Telegram Eng Group: 799 members (3895% weekly growth)
#XDOers Call For Help
We are XDOers, a community-driven project and calling help from xCommunity. If you have great ideas, suggestions, and connections to help growing xDollar in following areas:
- Increase TVL of xDollar
- Increase use cases of xUSD
- Increase XDO token value
- Increase public awareness of xDollar
- Increase community growth
We would love to hear all from you. Here’s so far we have reached out with your love and support. In near future, we would launch an incentive-based system for xMembers who contribute to xDollar.
Collab Connection referred by xMembers
- Polycat connection
- WasabiX Finance connection
- Polaris Defi connection
- Curve connection
Collab Connection introduced by Polygon circle
Suggestions — Send them on our Discord partnership channel
Learn more about xDollar and get involved in the community
“The more you contribute, the more you get” — xDollar
