Today, we are sharing a quick tutorial guide on @xDollarFi App v2. It might be a little confusing to newcomers on what the different features are all about, so we decided to do a light introduction to them.
Ready? Let's go 🔥🔥
@xDollarFi First of all, what is xDollar Space (v2)?
This is a multi-chain interest-free lending platform. Users can deposit assets to borrow their stablecoin, $XIM, with a min collateral ratio.
So, what can you do on xDollar app?
@xDollarFi xBank is where users can open Troves to deposit their collateral to borrow $XIM. So far, only $WBTC and $WETH can be used, but more will be added in the near future. There is a one-time borrowing fee of 0.5% and the min collateral ratio is 110%.
@xDollarFi xPeg is where users can collateralize stablecoins for $XIM. Currently, only $USDC is available. This is a special Trove where liquidation and redemption functions are disabled. There is a one-time borrowing fee of 1% and the min collateral ratio is 101%
@xDollarFi xPool is where users can deposit their $XIM to become stability providers. $XIM deposited in the pool act as a source of liquidity to repay debts from liquidated Troves. In return, users get a pro-rata share of the collaterals in the liquidated Troves and $SPACE tokens.
@xDollarFi We've done up a tweet thread on how the stability pool work and what are the benefits of being a Stability Provider.
To refresh your memory, take a look at it again here:
@xDollarFi xStake is where users can stake their $SPACE token to receive $xSPACE. $xSPACE is the governance token and it allows the holder to share the fees earned from the protocol. The longer $SPACE is staked, the more $xSPACE received. The max locking period is 4 years.
@xDollarFi xFarm is where users can stake their XIM-3LP3CRV-f LP tokens to farm for $SPACE. The LP tokens can be obtained by adding liquidity in the relevant pool in @CurveFinance. The difference between xPool and xFarm is that xPool is a stability pool but xFarm is not.
@xDollarFi@CurveFinance We heard from the team that they have a lot more exciting news to share in the coming weeks, so do follow them @xDollarFi and join their discord!
Today we're going to share a thesis that we've read on @VaderProtocol, specifically about their native token, $VADER.
⚠️ Warning: Reading this might cause you to irresponsibly ape into Vader. Just try to control yourself. Consider yourself warned!
🔥 Let's go! 🔥
@VaderProtocol We did not come up with this awesome thesis.
It came from a person named zeroboundss from the Vader Reddit subthread. Decided to make a more graphic version of it and help spread it around so that more people will understand the uniqueness of the Vader Protocol.
🔹 Paradigm shift in governance tokens right now
🔹 Vader protocol combines several primitives in DeFi space that nobody has seen before
🔹 $VADER accrue value from the revenue streams: Protocol Owned Liquidity + AMM
🔓 Software engineer, entrepreneur, and founder
🔓 Started to learn how to code at 13
🔓 In his first year of university, he created an online job board for students because he was bored
🔓 After 3-5 months, McDonald's started to put job offers on his website
@julien51@UnlockProtocol@AndrewSteinwold@zima_red 🔓 It grew to a couple of 100,000 students on his website
🔓 When Google AdSense launched, he integrated it. In the first month, he earned $8,000 in ads. His father was shocked and created a company for him
👶 Met around 5 years ago. His friends' group and her friends' group decided to go to Mexico together
👶 Was trying to flirt with her but she would have none of it
👶 Decided to approach in a different way by talking about Ethereum
We have 6 short clips from the AMA session of @bprotocoleth with @CRE8RDAO to share. These are from @EthFugu and @creativelem - all contributing members from CRE8R DAO!
Let's take a look!
What is B.Protocol?
This is @EKatchka - Head of Ecosystem and Development, speaking.
BRS Leaderboard
👻 @FelonGotchi is still on the top of the leaderboard
👻 Felon swapped out his LINK Cube for a Milkshake to bring down its rarity score to 933. Still ranked one but within range of Rocinante at 2nd place
👻 Godlike Cacti is crucial for ranking