In this article, we will touch on the IDO method that was used on Solana in the past, explain the advantages and disadvantages of each IDO, and why UXD Protocol chose the Mango Markets type IDO with a small modification.
IDO Link: https://ido.uxd.fi
The following blog post was written by community member Myles Snider and gives a high level overview of how UXD works.
Thanks for Joe Kendzicky for tons of valuable input and feedback
What is UXD?
UXD Protocol is a decentralized stablecoin protocol built on Solana. It was founded in 2020 as Soteria and…
We are super excited to announce the launch of our devnet! You can now go to app.uxd.fi and mint/redeem UXD with SOL. We will gradually support other crypto assets.
UXD is a stablecoin that is backed by a delta-neutral position and pegged to the USD. Below are the steps to mint/redeem UXD.
- Connect your wallet.
Introducing $UXP
We’re excited to introduce the UXD Protocol Token (UXP) the governance token for UXD Protocol. UXP will initially be distributed through a token sale and then be distributed through liquidity mining and other means decided by the DAO. UXP has the following use case:
- UXP token holders will be able…
UXD Protocol is excited to announce that we have raised $3 million in a seed round led by Multicoin Capital with participation from Alameda Research, Defiance Capital, CMS Holdings, Solana Foundation, Mercurial Finance, Solana founders Anatoly Yakovenko, Raj Gokal, and Saber founder Dylan Macalinao.
The funds will be used to…
After a successful proof of concept exploration, the Version 0.1 of Soteria, and the Soteria brand, will sunset on August 27, 2021. The new brand, UXD Protocol, will launch with the private testnet in early September, followed by a public mainnet shortly thereafter. Starting today, there is a 2-week grace…
Solana is a relatively new blockchain with heretofore unseen capabilities. It’s unmatched performance in terms of throughput and low fees are birthing novel applications that are not possible on other chains.
Until now, significant improvements in performance often came at the price of decentralization. And what is the point of…
In this opening expo into the derivatives markets and trading, we will dive into the futures market as it is largely the engine behind keeping equilibrium in the Soteria ecosystem.
19th century futures trading
Futures trading on a formal futures exchange in the U.S. originated with the formation of the Chicago Board of Trade…
This post is a tentative roadmap for Soteria. Since the space moves so fast we have the set the roadmap for the next 3–6 months, which is better since it allows us to move fast and iterate. A more comprehensive roadmap will be published in the future.
Rebranding
We are currently…
The market has made its desire for stablecoins clear as more of the world’s value moves on-chain, and this momentum shows no signs of stopping.
While the boundaries are not always clear, stablecoins can largely be grouped into fiat-backed (USDT, USDC, BUSD, etc.), crypto-collateralized (DAI, sUSD, mStable, etc.), …
