this post was submitted on 15 Aug 2023
1 points (100.0% liked)

Ethereum

1 readers
0 users here now

Next-generation platform for decentralised applications. Dive in at ethereum.org.

founded 1 year ago
MODERATORS
[email protected]
1
Safer cross-chain assets: Mexican stablecoin Xocolatl adopts the xERC20 standard (zerobytes.monster)
submitted 1 year ago by [email protected] to c/[email protected]
0 comments fedilink hide all child comments
 
This is an automated archive.

The original was posted on /r/ethereum by /u/Elkinekt on 2023-08-15 14:27:22+00:00.

LaDAO del Xocolatl is adopting the new open cross-chain token standard for their Mexican Peso stablecoin $XOC. Their adoption of this standard means that LaDAO is in control of which bridges are supported and how many tokens each of them can mint, so risk can be minimized.

In emerging economies such as this Latin American country there’s a big demand for tokens to be available on many chains, particularly the cheaper ones to transact on. By being an xERC20, the liquidity costs of supporting multiple bridges and the slippage associated with cross-chain swaps are both eliminated.

With non-USD stablecoins gaining traction, how do you see the landscape of cross-chain stablecoins evolving?

no comments (yet)
sorted by: hot top controversial new old
there doesn't seem to be anything here