Zero Borrowing Fee Campaign Launch on #IoTeXdollar

In motivating more users onboarding with collateral stablecoin lending protocol experience, xDollar has planned a not-to-miss Zero Borrowing Fee Campaign for IoTeX users. This #IoTeXdollar campaign is launched in anticipating our V1 migration launch as well as celebrating 100M ecosystem fund by IoTeX foundation. The campaign will last for 30 days and users can obtain get 100% borrowing fee refund by opening troves on IoTeX.

How to participate in the campaign

Launch Time: Starting from today, March 24, 2022 and lasting for 30 days.

Rewards: 100% Borrowing Fee Refund back to your wallet address that opened the eligible troves.

Rules: The borrowing fee for each wallet address will be recorded and the refund will be done in two time periods: One is at 14 days of the campaign (4/8/2022) and second one is when the campaign is over (4/22/2022).

Tutorial on opening troves on IoTeX

Step1. Enter the web app of xDollar on IoTeX blockchain here: https://iotex.app.xdollar.fi/ and Click on xBank tab on the menu.

Click “Approve Collateral” button to enable deposit of WIOTX for XIM stablecoin

Now you can deposit WIOTX by clicking “Open Trove” button

You can swap WIOTX from swap link if you don’t have WIOTX in your wallet. There is one time fee of 0.4% (This will be refunded during #IoTeXdollar campaign. Noted that the minimum debt is $450 XIM with $50 XIM being liquidation reserve (this reserve will return once you close the trove)

Under xPEG tab, you can also borrow XIM by depositing to BUSD_b & USDT troves.

There is 1% borrowing fee when you borrow XIM. This fee will be refunded during #IoTeXdollar campaign.

Summary

We are excited to welcome new users onboarding to IoTeX blockchain! Lastly, thanks again for your support. Let’s grow together with xDollar DAO to grow the adoption of #1 xDollar Interverse Money (XIM) across DeFi, NFT, DAO, MachineFi and Web3 applications.

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

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