xDollar

xDollar is a cross-chain multi-collateral stablecoin lending protocol where users open vaults (Troves) against assets such as MATIC and AVAX to mint the USD-pegged xUSD at a minimum collateral ratio of 110%, charging no interest and earning instead from minting and redemption fees. Liquidations run through a stability pool: xUSD deposited into the pool absorbs collateral from liquidated vaults to keep the system collateralized, pricing comes from Chainlink oracles, the contracts hold no admin keys with parameters fixed at deployment, and access is provided through interfaces hosted by multiple frontend operators. XDO is the protocol's secondary token, staked to share fee revenue and used for DAO governance votes on parameters and product proposals.

The protocol has been deployed on five chains — Polygon, Avalanche, Arbitrum, Ethereum and IoTeX — with its V2 incarnation launched on the Ethereum mainnet as the Space protocol and contracts audited by CertiK. DeFiLlama data show total value locked of about $166,700 as of October 2026, four-fifths of it on IoTeX, down roughly 18% over the past month and ranking 79th among CDP protocols; XDO is listed on more than thirty venues with fragmented and shallow liquidity.