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XplorerDAO is a decentralized borrowing and fully-backed stablecoin protocol with liquid staking built on Cardano. The protocol allows users to generate interest-free and overcollateralized loans against Cardano (ADA) used as the collateral asset. Loans are denominated in XPUSD (XplorerDAO's USD pegged stablecoin) and are required to maintain a minimum collateral ratio of 110% (110% is the liquidation threshold, positions that fall under this will be liquidated). The maximal amount to be minted is a 115% collateral ratio. In addition to the ADA collateral, the loans are secured by a Stability Pool (SP) containing XPUSD and by XPUSD Stakers collectively sourcing the liquidity required for the on-chain liquidation system. Learn more about these mechanisms in Stability Pool and Liquidations. By staking their stablecoins in the Stability Pool and helping to keep the system solvent as part of liquidations, XPUSD stakers earn a liquidation yield plus staking rewards generated from liquidation profits. XplorerDAO is non-custodial, transparent, permissionless and community-driven.

Category - Stablecoin
Release - 20xx
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