Doxa
Doxa is a multistablecoin plartform with the doxadollar
The Doxa Dollar is groundbreaking stablecoin leveraging the power of the Internet Computer to provide a stable, decentralized, and secure stablecoin while addressing the need for a native stablecoin coin on ICP.
It is backed up 1:1 to the US dollar and over-collateralized by cKUSDC in the stability pool.
How it works
Doxa dollar is backed up 1:1 to the US dollar and over-collateralized by cKUSDC in the stability pool.
For each Doxa Dollar minted equal USD amounts of the reserve asset (ckUSDC) is stored in a canister.
The stability pool ensures that there is an excess supply of ckUSDC and maintains the doxa dollar peg at $1, even when the prices of USDC go below $1. This is done through depositing more ckUSDC in the reserve pool when the prices of USDC are below the $1 and withdrawing ckUSDc from the Reserve pool when the prices of USDC are above $1.
Internet Computer superpowers
Using ckUSDc as collateral
Go-To-Market strategy
Partnerships:
- Collaborating with DeFi protocols to integrate doxa-dollar as a supported asset.
- Partnering with wallets and exchanges for easy access and liquidity.
- Seeking partnerships with Blockchain influencers and thought leaders for promotion.
Yield Farming and Liquidity Mining:
- Implement incentive programs to reward users for providing liquidity or holding doxa-dollars.
Cross-Chain Integration:
- Ensure doxa-dollar is available on multiple blockchain networks to maximize reach.
- Focus on chains with strong DeFi ecosystems like Ethereum, Binance Smart Chain, and Solana.
Community Building:
- Establishing a strong presence on platforms like Discord, Telegram, and Reddit.
- Engaging with existing DeFi communities to build awareness and trust.
- Implementing a community rewards program for early adopters and active participants.
DApp Integration:
- Developing SDKs and APIs to make it easy for developers to integrate doxa-dollar into their applications.
- Offering grants or bounties for developers intergrating doxa-dollar.
Target DeFi Users:
- Focusing on existing ICP and DeFi users as the initial target market.
- Highlight the benefits of doxa-dollar over other stablecoins, particularly its backing by ckUSDC.
Educational Content:
- Creating easy-to-understand guides, videos, and infographics explaining doxa-dollar’s value proposition.
- Hosting webinars and AMAs (Ask Me Anything sessions) to engage with potential users.
Community Building:
- Establishing a strong presence on platforms like Discord, Telegram, and Reddit.
- Engaging with existing DeFi communities to build awareness and trust.
- Implementing a community rewards program for early adopters and active participants.
Partnerships:
- Collaborate with DeFi protocols to integrate doxa-dollar as a supported asset.
- Partner with wallets and exchanges for easy access and liquidity.
- Seek partnerships with DeFi influencers and thought leaders for promotion.
Yield Farming and Liquidity Mining:
- Implement incentive programs to reward users for providing liquidity or holding doxa-dollars.
- This can help bootstrap initial adoption and create a network effect.
Cross-Chain Integration:
- Ensure doxa-dollar is available on multiple blockchain networks to maximize reach.
- Focus on chains with strong DeFi ecosystems like Ethereum, Binance Smart Chain, and Solana.
DApp Integration:
- Develop SDKs and APIs to make it easy for developers to integrate doxa-dollar into their applications.
- Offer grants or bounties for developers building with doxa-dollar.
Traditional Finance Bridge:
- Explore partnerships with fintech companies or neobanks for traditional finance users to open up doxa-dollar to a wider audience beyond the crypto-native community.
Marketing and PR:
- Leverage crypto-focused media outlets for press releases and interviews.
- Sponsor relevant blockchain and DeFi conferences or events.
- Run targeted ad campaigns on platforms like Twitter and crypto-focused websites.
Regulatory Compliance:
- Ensure clear communication about regulatory status and compliance efforts to build trust with users and potential partners, especially those closer to traditional finance.
Monetization
Doxa-Dollar will be profitable as the number of users increase.TX charges are main model. We hope in the future to launch the doxa euro, doxa pound and the GBP and lastly launch SNS
Status of the project
We have completed our first grant milestone and an MVP which is yet to be completed.
Resources
https://twitter.com/doxa_dollar
https://i7m4z-gqaaa-aaaak-qddtq-cai.icp0.io/
Future Plans
Going Cross Chain
Launching more stablecoins
SNS