UXD Launches Mainnet Beta, Bringing The First Fully-Decentralized, Capital-Efficient Stablecoin to Solana
UXD protocol is excited to announce its Mainnet Beta Launch on Solana! This post will cover what UXD’s Mainnet Beta will entail (including how to participate), and how UXD Protocol foresees the path from Mainnet Beta to fulfilling UXD’s goal to become the most widely used decentralized stablecoin in the world, starting by setting a new standard for trust and usability in the Solana ecosystem. This article will also announce our bug bounty program, give a quick look into the structure of UXD’s forthcoming governance program, as well as outline some upcoming improvements to UXD’s user interface.
The Vision of UXD Protocol
Taking a step back for a moment, it’s important to reflect on how and why the community got to where it is today, and clearly lay out UXD’s goals for the future and overall vision.
UXD was created to solve an incredibly difficult problem in the crypto world: creating a stablecoin pegged to the USD that was (i) stable (ii) decentralized (iii) capital efficient,all at the same time. Stablecoins have been one of the most difficult design challenges in crypto, with in-depth discussions around stablecoin mechanics happening over 7 years ago. Tens of stablecoins have come and failed in the years since, many spectacularly so. UXD is a trustless + decentralized algorithmic stablecoin that maintains its peg with the use of delta-neutral derivatives, the first of its kind on Solana.
UXD Protocol is ecstatic to bring UXD to Solana and make UXD the stablecoin of choice for crypto. That journey starts now with Mainnet Beta launch. As always, feel free to hop in discord if you have any questions.
The best way to get involved with UXD Protocol today is to actively participate in discord as well as provide commentary on future medium proposals that will have active commentary periods. For example, when UXD Protocol releases the UXP governance token structure, UXD Protocol will actively take feedback from the community on the proposed structure. In the future, all proposals will be handled in the community DAO.
🔽DETAILS:
