xDollar Stablecoin

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:

  1. R&D
  2. Team Operation Cost
  3. Audit Services
  4. Initial Liquidity
  5. 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

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=== Please add Milestone Reports below ===

Congratulations Xdollar and we are looking forward to the launch!

2 Likes