Proposal on cyc matic pool must use xusd as the only stable currency pool
Since most of the early participants of cyc came from the bill lee community, the early participants paid a lot of lp sacrifices and price sacrifices, so when cyc enters the matic chain, it should be obliged to feed back the bill lee community, to use xusd , as a stable coin mining pool of the matic chain, guides the cyc community to enter the xdo project. ----Ye Ye
I have no knowledge of the xdo project so I can’t judge your suggestion.
An additional explanation about the xdo project is needed.
Can you pls elaborate more about xusd/xdo project?
Hi all, it has been around not to mingle here. I can shed some lights on xUSD/XDO as I am one of earlier adopter of their platform since beginning. Here’s intro article of xDollar which is tweeted by Polygon official twitter account.
https://xdollarfi.medium.com/xdollar-powers-decentralized-stablecoin-xusd-on-polygon-24cd173b91cc
In general, xDollar is built on top of liquity protocol and aims to become multi-collateral, dao and multi-chain stablecoin minting platform. Anyone can stake crypto assets such as MATIC to the platform and borrow xUSD at 0 interest rate with lowest 110% collateral ratio. They are incubated by MCN Ventures (deVC) which started by Bill the Investor and vfat0 and many more other talent like KoL, researchers, dev, etc.
The Cross-Protocol Synergy between CYC and xDollar
They share same multi-chain vision with Cyclone. They have been running well for two months with audited from coinspect. The team is also dedicated to spin off from Liquity which shares similar traits of cyclone spin off from tornado cash. One is stablecoin minting and the other one is privacy layer. Both can work well with cyclone providing privacy layer to xUSD/XDO tokens while xUSD/XDO tokens bring more TVL and usage to the platform. In the long term its win-win situation.
More info for team to study
website: https://www.xdollar.fi/
app: xDollar
Docs: https://docs.xdollar.fi/
Audit: Audit Reports - xDollarFi Docs
One thing I noticed on Cyclone’s user deposit is not increasing gradually. As also CYC early supporter, we would want partnership across protocols to encourage more activities on Cyclone. More utilities of CYC token is much needed in which I will call for another proposal for CYC token utility.