IoTeX has introduced a sequence of partnerships, and its fast-growing ecosystem in 2021 has seen tasks on its platform improve exponentially from a pair dozen to over 126. As a part of this ongoing development, xDollar has introduced its partnership with IoTeX to energy Web3 cash and non-custodial, interest-free loans.

“We now have been long-awaiting for this second since September once we introduced a strategic partnership with IoTeX,” mentioned the xDollar staff in a public statement. “Right now, we’re excited to announce that xDollar has landed on the IoTeX planet at present!”

The partnership for xDollar means they’ve turn into the primary stablecoin and interest-free lending platform on IoTeX. The xDollar (XIM) is, because the title is pegged 1:1 to the US greenback.

“The xDollar is one other vital addition to our huge ecosystem. Its utility provides worth for all customers throughout our platform,” mentioned Larry Pang, IoTeX head of ecosystem. “xDollar is a stablecoin and lending protocol. It permits customers to deposit belongings as collateral and mint stablecoins they will use throughout the IoTeX community. it expands the utility of current belongings and offers customers the flexibility to craft customized positions and portfolios

The xDollar explains their imaginative and prescient is to turn into the primary “interverse cash (XIM),” stablecoin, and interest-free lending platform with the huge IoTeX ecosystem. The xDollar assertion additional explains that its goal is to energy Web3 cash and cross-chain lending.

“xDollar intends to turn into interverse cash throughout the metaverse, Web3, DAO, and MachineFi,” its assertion provides. “The protocol of xDollar on IoTeX’s mainnet was accomplished on December twenty first with xPeg product —customers can stake BUSD_b to borrow XIM.”

IoTeX is rising its ecosystem forward of a serious MachineFi increase in 2022 geared toward connecting folks and machines and machines with machines to work together with one another and unleash the multi-trillion-dollar decentralized machine financial system.

 “The xDollar staff hopes this IoTeX launch announcement retains everybody excited for what’s forward for our venture,” the assertion says. The venture provides that it’s transitioning into its V1 Protocol and liquidity incentive plan, which shall be introduced shortly.

xDollar describes itself as not only a DeFi venture; they supply cross-chain lending. “We’re agency that this collaboration with IoTeX will permit xDollar to take its first little step for connecting giant stablecoin liquidity with the untapped real-world belongings within the bodily world,” it concludes.