A proof of concept of a decentralized borrowing protocol for the issuance of stablecoins backed by Lumens🌐
- Tweets 43
- Following 2
- Followers 407
- Likes 46
Today the supply of the main stablecoin from the protocol has reached 1M and it's payment volume is already over 8M 🙌
That volume is shared between apps like @blend_capital, @SoroswapFinance, @PhoenixDeFiHub and @aqua_token, being +20% of the daily volume in AQUA's protocol💪
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FxDAO Protocol retweeted
What a wild day so far. We've seen quite a few liquidations on @blend_capital and @FxDAO_io. It's been a great stress test of both platforms and they've both, as well as @BuildOnStellar, worked exactly as designed.
The amount of opportunities to safely earn yield on @StellarOrg #defi is growing every day! What are you using to earn?
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Are you a Stellar Builder?
Did you get XLMs to build your project?
What if instead of dumping those XLMs you lock them in #FxDAO and get USDx? You can exchange those USDx for USDC if you need to by using @aqua_token
Work with your XLMs without selling them 🙌
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TVL in #FxDAO is growing and more people are using the protocol to unlock the value of their #XLM without selling them 🙌
With #Soroban we see more and more use cases being created on the #Stellar network
defillama.com/protocol/fxdao
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Happy to see that +10% of the volume from yesterday in @aqua_token was with #FxDAO assets 🙌. It means people is finding usages between #Soroban Protocols and that brings us joy
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Did we say 20k in value missed? Sorry we wanted to say +120k in value missed🤯
That's the type of utility you get with protocols like #FxDAO: In those cases where your collateral increases in value, you don't lose the exposition to it😄
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FxDAO Protocol retweeted
We launched a new smart contracts runtime earlier this year and there's a new defi ecosystem taking off. Check out @script3official's blend.capital or @FxDAO_io for example
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We know using anecdotical events isn't proof of anything but... let's say you got a grant of $USD 100k to build your project and you knew you would need about 80% at the moment but you didn't use #FxDAO and instead sold all the $XLM, you basically missed almost 20k in value🤷♂️
Are you a Stellar Builder?
Did you get XLMs to build your project?
What if instead of dumping those XLMs you lock them in #FxDAO and get USDx? You can exchange those USDx for USDC if you need to by using @aqua_token
Work with your XLMs without selling them 🙌
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FxDAO Protocol retweeted
XLM hodler? @FxDAO_io gives you a trust-minimzed way to leverage your position without liquidating it
Are you a Stellar Builder?
Did you get XLMs to build your project?
What if instead of dumping those XLMs you lock them in #FxDAO and get USDx? You can exchange those USDx for USDC if you need to by using @aqua_token
Work with your XLMs without selling them 🙌
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Are you a Stellar Builder?
Did you get XLMs to build your project?
What if instead of dumping those XLMs you lock them in #FxDAO and get USDx? You can exchange those USDx for USDC if you need to by using @aqua_token
Work with your XLMs without selling them 🙌
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💪
🙌 @FxDAO_io now on @DefiLlama. Adding another 1.3 mil tracked TVL on #Stellar 🚀
defillama.com/protocol/fxdao…
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The first @aqua_token pool for the FxDAO protocol is live aqua.network/pools/CCLZQDL5L…
And with that the FxDAO protocol can continue its development and start distributing its governance token! You can read about it here 🥳
fxdao.io/blog/gov-token-dist…
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#FxDAO is a protocol that embraces #XLM's utility and it uses it as the collateral of synthetic coins, the protocol is currency agnostic and it launched with 3: USD, EUR and GBP (more currencies are coming to #Soroban).
Read about the peg system here: fxdao.io/blog/fxdao-currency…
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TL;DR:
- It uses #XLM as the collateral of everything issued.
- If the peg of one of the coins issued starts deviating without reason, there is an arbitrage incentive.
- If the collateral price falls, liquidators can profit when keeping the protocol healthy IE removing bad debt.
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- Start development ✅
- Deploy on Futurenet ✅
- Deploy on Testnet ✅
- Get audited ✅
- Deploy on mainnet with USD, EUR and GBP: app.fxdao.io ✅
- Deploy locking pools to distribute the rewards 🏗️
- Deploy the DAO 🏗️
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FxDAO Protocol retweeted
So many cool toys coming to #Stellar 🤩
Check out this @FxDAO_io testnet dashboard for onchain borrowing and lending!
testnet.fxdao.io/
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It's been a while since our last update... but we haven't stopped working all these months! We were also at Meridian 2023 and last weekend we deployed our protocol to Testnet 🙌
We are getting ready for mainnet, there is still more work to do but GET READY for Soroban 🦾
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If you would like to know more about what we have been working on, check out our last update from our brand new website: fxdao.io/blog/fxdao-update-q…
We aim to be the first decentralized stablescoins protocol on the Stellar/Soroban network 🙌
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