Today we are excited to announce a strategic partnership with xDollar DAO, a multichain stablecoin lending protocol. Hence MinMax DAO is ready to take off with long waited coordination with xDollar DAO on IoTeX. We will detail why this partnership is bright for both projects in facilitating cross-chain stablecoin liquidity across emerging chains.

In the past weeks, we have been crafting long term strategies for bootstrapping the project.

• 1st, MinMax DAO is the first step to empower the project with governance autonomy and community involvement.
• 2nd, MinMax DAO is seeking long term partnerships with promising DeFI legos to compound the effect of composability. And xDollar DAO is one of great partners in facilitating pegged assets’ liquidity.

Composability is Innovation

Composability is not uncommon term which has explained by a16z and Multicoin Capital as this plays an extremely important factor on the investment thesis of major crypto VC.

The ability for anyone in a vast network of disconnected, distributed participants to leverage the work of others to create new applications didn’t just arise spontaneously — it required the cooperation of many people. - Linda Xie, a16z

Another well-explained term of composability is explained by Jesse Walden on twitter.

So our take on composability is to seek and connect with protocols that has cross-chain synergy to create a more rapid and compounding innovation! And we found xDollar DAO is a perfect match for MinMax to build additional blocks on top of their collateral based stablecoin, XIM. Together we are composed on top of each other to solve the fragmented stablecoin liquidity on IoTeX.

IoTeX as composable layer between real world and blockchain

Why IoTeX? MinMax and xDollar DAO are aligned with IoTeX’s vision of building a connected world which known as Internet of Trusted Things. This is a decentralized ecosystem where humans and machines can interact with guaranteed security and trust. MinMax and xDollar are on a mission to participate in IoTeX’s MachineFi movement to ensure everyday people and businesses can own and control their devices, as well as the data/value they generate. By connecting the physical and digital worlds, IoTeX will democratize access to machine-backed DApps, assets, and services to deliver value to users and fuel the new machine economy. And we are excited for what’s coming for IoTeX by composing additional blocks and layers with real world data and applications!

xDollar Interverse Money Leverage

The forward plan with xDollar DAO is to launch three stable pools from Ethereum, Binance Smart Chain and Polygon on IoTeX.

• MinMax XIM B3 (BUSD_b, USDT_b, USDC_b)
• MinMax XIM M3 (DAI_m, USDC_m, USDT_m)
• MinMax XIM E3 (BUSD, USDT, USDC)

The purpose of these XIM stable pools is clear to facilitate the seamless swapping experience from one chain to another chain. The unique composability between xDollar and MinMax is solving the fragmented stablecoin liquidity on IoTeX.

Please noted that the existing stablecoin pools will be outdated with only withrawal are enabled and encouraging liquidity providers to migrate their stablecoin to XIM stable pools to receive liquidity rewards.

Stablecoin Liquidity Incentive Program

As promised earlier, MinMax is relaunching a stablecoin liquidity incentive program for providing stablecoin to newly introduced stable pools. The stablecoin liquidity incentive program will last for one month period. This is good timing to accumulate MAX token for earning fee and voting power. Afterward, we will activate MinMax DAO to vote on the reward adjustment of these stablecoin pools and any other upcoming proposals to add new stablecoin pools proposed by the community.

Summary

In our humble opinion, MinMax DAO is just getting started. With announced cross-protocol synergy composability between xDollar and MinMax, we are firm that this will create value added proposition on IoTeX with MachineFi adoption in the long term. MinMax DAO LFG!!!