For everyone patiently waiting, the wait is over. XStable is here and we are finally ready to launch. In this article, I will dig into what XStable really is, how it operates, the story behind it, and the internal mechanics that drive it.
Over the past few months, I have been deeply fascinated with several algorithmic stablecoins that have stemmed in the cryptoverse but was not satisfied with the basic premises that these have been built upon. Ampleforth, ESD, FRAX, and several other stablecoin protocols have been born with one core premise, that an asset needs to follow another asset…
We know you have all been waiting eagerly with a lot of patience for the next steps ahead of us. I would like to take some time to look at XStable’s performance so far and then talk about the road ahead.
XStable was launched with a presale price of 1$ per token, with a total raise of 75 eth, which was deployed as locked liquidity. Over the first few initial days, we crossed 10mn$ total volume, increased the total supply by 3.5x, and hit a peak price of 7.5$+. The token itself did a peak return of 27x+…
It is time for the first upgrade to our contract. We have spoken briefly about this in a previous article where we talked about adding a sliver of buy pressure in case of large selloffs. The sell tax itself is only a deterrent to hold off until further epochs and does nothing to incentivize buyers from negating this potential selloff. Over time, as and when the utility models are unveiled creating organic demand and the stabilizer contract takes a direct hand in neutralizing this, stability will be auto ensured. There are three steps till we get there — 1. Creating…
We have had a pretty successful launch and an awesome community is being built around the protocol. At XStable, we are very excited with what we have created, and I wanted to give you guys a quick heads up on what can be expected over the next couple of weeks.
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What to expect in the next 2–3 weeks.
It’s time for what you have all been waiting for, the PRESALE! We appreciate your patience and enthusiasm. I will go through the presale process, the corresponding parameters, and what you can expect.
There are no whitelists and no allocations. Everything is going to be transparent. Presale will be happening via a Presale contract that has the permissions to mint the corresponding number of tokens.
Here are the rules:
1. XST will start with an initial supply of 0 tokens.
2. You cannot send ether to the presale contract. You will have to purchase XST tokens via the presale tab…
I have discussed the core thesis behind XStable at length in the previous article. Let us dig a bit deeper into the contracts that power the protocol, how they function, and the operational mechanics.
At its base, XStable currently relies on Uniswap pools to identify the buy and sell volumes. The protocol will be launching with 1 pool XST-ETH but will be adding XST-USDC and XST-WBTC pools once the total supply crosses 10mn. This will help XST in achieving balanced stability vs ETH — USDC — BTC trio.
Identifying the transaction
With the Uniswap pools, the first challenge is to…
XStable is a new form of a synthetic commodity that operates with a free float that over a longer-term achieves stability and forms a volatility hedge across a basket of cryptocurrencies as well as fiat currencies. It allows the market to freely drive its value while using a part of that information to adjust its supply to create an equilibrium between value and supply.
Unlike ampl which operates with fully fluctuating balances or ESD/DSD which continuously dilutes the holder's equity, XStable is an elastic money protocol that operates with continuously accruing balances akin to dividends that increase the holder's equity…