Proposal details
Project Name
xDollar Stablecoin
Project Type
DeFi Dapp
Proposal Description
xDollar is an interest-free stablecoin lending platform that any users can borrow non-custodial stablecoin, XIM against their crypto assets on multichain with a minimum collateral ratio of only 110%.
xDollar’s vision is to become the first cross-chain non-custodial stablecoin lending platform on multi-chains with DAO governance and a multi-collateral vault system.
Value proposition
xDollar has been born with cross-chain DNA and is actively expanding to new EVM-compatible chains like IoTeX. With the official support from IoTeX, we believe xDollar will become a significant piece of stablecoin issuance within the IoTeX ecosystem. The biggest benefit provided by xDollar is to allow $IOTX investors and users to keep their crypto assets and still be able to maximize its value through $xUSD. xDollar is expanding the liquidity and use cases of xUSD. In summary, anyone on the IoTeX chain is able to borrow xUSD without having to sell their crypto assets at 0% interest. xDollar has been clear since the beginning to seek for more partnerships and collaborations. So far the team has partnered with Dfyn, Kyber Network, Iron.finance, Firebird, Polycrystal, ApeSwap, and many more to come. xDollar has initiated xCHAIN alliance forces on multi-chain and is ready to bring existing connections when xDollar crosses the chain to other EVM-compatible chains like IoTeX.
Milestones
| Number | Deliverable | Date | Requested Funding |
|---|---|---|---|
| 1.Deployment on IoTeX | xDollar Launch on IoTeX | As soon as price feed is figured | 10,000 USD |
| 2.TVL milestone 1 | Platform TVL exceeds $5M > 30 DAYS | As soon as TVL is met | 20,000 USD |
| 3. TVL milestone 2 | Platform TVL exceeds $10M > 30 DAYS | As soon as TVL is met | 20,000 USD |
Total funds requested
50,000 USD
Will be used for:
- R&D
- Team Operation Cost
- Audit Services
- Initial Liquidity
- Marketing
Maintenance and Upgrade Plans
The xDollar team would commit fully to maintain the platform and keep seeking for partnerships and expanding the use cases of xUSD within the IoTeX ecoystem. While for upgrade plan, the xDollar Research (XDOR) is actively carrying out R&D for platform improvement suggestions. When there is available feature upgrades, the team would consider to upgrade existing platform depending on the needs.
About your Team
Team members
- Captain X
- Captain D
- Captain O
Relevant Experience
- Strong team with experience in TOP tech firms, research universities, and global financial institutions|
- Supported by MCN Incubator which backed by @billtheinvestors, @vfat0 and and Other KOLs|
Metrics
N/A
Links
=== Do not change this section ===
By posting a proposal, you accept the rules below:
https://community.iotex.io/t/grant-issuance-rules/3839
Community voting
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=== Please add Milestone Reports below ===
Milestone Report: #1
Invoice form has been filled out correctly for this milestone.
Deliverable Name : xDollar Launch on IoTeX
Proof : https://iotex.app.xdollar.fi/#/
Note :
Payment tx : IoTeXScan Transaction Hash | IoTeXScan
Milestone Report: #2
Invoice form has been filled out correctly for this milestone.
Deliverable Name : Platform TVL exceeds $5M > 30 DAYS
Proof : https://defillama.com/protocol/xdollar
Note :
Payment tx : IoTeXScan Transaction Hash | IoTeXScan