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 7/19–7/25.
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
The platform has secured more than $5M TVL in dollars with amplified liquidity of $13.8M on xUSD-DAI Kyber LP pool. On Polgyon, XDO token circulating is only about 370K XDO stacking on XDO stacking pool while the rest of 700K XDO stacking on MCN multiple reward farming on ETH mainnet. Our holders for XDO and xUSD are increasing weekly with the protocol revenue increasing with new xUSD minting from the platform.
Recent Announcements
- xUSD stablecoin LP pool on Kyber network is launched with XDO reward for 30 days last week. We hit 10M amplified liquidity within 1 day of launching.
https://xdollarfi.medium.com/story-behind-decentralized-xusd-dai-lp-on-kyber-network-4d83c62461e3
https://docs.xdollar.fi/tutorial/kyber-lm-xdollar (Tutorial) - xDollar launched XDO multiple reward farming with MCN, our incubator on ETH mainnet to mine XDO and MCN. This marked our first space exploration of becoming a cross-chain vision project.
https://xdollarfi.medium.com/xdollar-spaceship-story-connecting-stars-with-mcn-b58505b4f683
https://mcndvf.medium.com/4a70b20c324 (Tutorial) - xBRIDGE is integrated with Anyswap Bridge to bridge XDO between Polgyon and ETH mainnet. Stake your XDO on MCN farming to earn high yield APR %
https://docs.xdollar.fi/tutorial/xdo-bridge (Tutorial)
Items under the pipeline
- IronSwap Listing is announced on Iron.Finance twitter regarding the listing of xUSD to IronSwap on August 6th, 2021.
- More partnerships are coming along the way to form a clear multichain alliance known as xCHAIN Alliance.
- xUSD-I3USD incentive pool is expecting to launch together with the listing of xUSD on IronSwap.
- xDollar v2 platform is under development with backend is done and auditing underway. The xDollar team is working on frontend integration and a whole new web interface for xDollar v2. Welcomes community discussion on which type of collateral is to be added on the community-suggestion discord channel.
Community growth
- Twitter: 2627 followers
- Discord: 1610 members
- Telegram Eng Group: 1100 members
#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.
Suggestions — Send them on our Discord partnership channel
Community Contribution
- xAdopter, Leifu helped to maintain vfat.tools for any xDollar related farming information.
- xDollar Meme Contest is initiated by xCommunity member, Sumanth Sparky and welcome any talented content creators to xDollar community. Please read more in the post below https://xdollarfi.medium.com/xdollar-meme-contest-initiated-by-xcommunity-b2c743bcaa4a
- xAdopter, alvinkhan1 initiated liquidity experiments on Kyber and Balancer to test the liquidity of xUSD and XDO which demonstrates that the capital efficiency of Kyber and creative balance of Balancer for different liquidity scenarios.
- xCommunity moderator, jeffrey introduced the team to Kyber and Beluga Finance with potential collaboration undergoing.
- xAdopter, Leifu boosted the server with his generous monthly subscription to discord for enabling more emojis and other functionality. He was awarded with addition server booster pink role.
- 币圈老韭菜 made a detailed overview of xDollar and demo on app go-through in Mandarin on his Youtube Channel.
- Cryptology made an introduction to xDollar on his Youtube Channel.
xUSD-MATIC & xUSD-Dfyn Farming Tutorial Video
xUSD-USDC Farming Tutorial Video
xDollar arb strategy
xDollar XDO Bridge Tutorial - Leifu contributed to develop a data analytics and visualization of xDollar platform hosted on Dune analytics here.
Learn more about xDollar and get involved in the community
