Mexico’s MXN Stablecoin: XOC
As a programmable digital currency equivalent to the Mexican peso, $XOC ensures traceable and transparent transactions, making corruption harder.
About the name
The word 'Xocolatl' comes from the Nahuatl, a Pre-Hispanic word, refers to cacao beans. It is well documented that cocoa beans were used by Mayans and Aztecs as a form of currency.
$XOC is the most liquid stablecoin for the MXN currency. .
Why $XOC?
Problem Statement: Corruption, Bureaucracy, and Crime
Mexico's economic growth is hindered by three major issues:
Government Corruption
Mexico is ranked 126 out of 180 countries in the Corruption Perceptions Index. Corruption is a major issue that affects the country's economic growth and development.
Slow Bureaucracy
Mexico is ranked 60 out of 190 countries in the World Bank's Ease of Doing Business Index. Slow bureaucracy is a major issue that affects the country's economic growth and development.
Organized Crime
Mexico is ranked 140 out of 163 countries in the Global Peace Index. Organized crime is a major issue that affects the country's economic growth and development.
Solution: Programmable Money
New problems require new technology solutions. At La DAO, we are building a decentralized financial system that is more inclusive, transparent, and accessible to everyone.
Transparency and Security
Our platform is built on blockchain technology, which ensures that all transactions are secure, transparent, and immutable. We use smart contracts to automate processes and eliminate the need for intermediaries, reducing the risk of fraud and corruption.
Fostering Innovation
We are creating a community of developers, entrepreneurs, and investors who are passionate about building a better financial future. Our platform provides tools and resources to help them develop and launch new projects, products, and services that will benefit society as a whole.
Community Owned and Governed
Our platform is governed by a decentralized autonomous organization (DAO) that is owned and controlled by its members. This ensures that all decisions are made in the best interest of the community and that everyone has a say in how the platform is run.
Explore what you can do with $XOC
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CPD Management
A CDP allows you to leverage your most precious assets to borrow stablecoins, in our case $XOC. You can use XOC to buy more assets, pay off debt, or whatever you want.
$XOC is ERC20 so it is also compatible with the DeFi ecosystem. You can use it to create Liquidity Pools, farm yield or even use it as collateral for other loans.
Money Lending Markets
Our money markets are a fork of the Aave contracts, which are the most battle-tested and resilient smart contracts in DeFi.
You can lend your $XOC to earn interest or borrow $XOC by providing collateral. The interest rates are determined by the supply and demand of the market.
Fully Interoperable with most popular L2s
Our contracts are deployed on the Arbitrum, Base, Ethereum Mainnet, Polygon, Gnosis Chain, and Optimism networks. This allows you to use $XOC on any of these networks.
You can move your $XOC between networks using our bridge contracts built on top of Connext.
Xocolatl Smart Contracts Are The Entrance Into Mexican DeFi
You deposit your asset into our House of Reserve contract, which then tells the Assets Accountant the reserve amount of the asset. The Assets Accountant then allows you to mint up to ~80% of your asset’s value in $XOC to your wallet. $XOC is created (minted) at the current MXN/USD rate which can then be used in the DeFi ecosystem. This allows builders, creators, and entrepreneurs to leverage their assets to create new value and opportunities.
Know More
Explore the voices of the $XOC community
Discover authentic testimonials from those who are part of the vibrant community building and using $XOC. From transformative experiences to success stories, here you'll find the inspiration you need to join this exciting financial revolution.
$XOC is one of the first proposals to revolutionize DeFi in Mexico. Integrating a stable Mexican peso currency into the web3 ecosystem.
The Mexican peso has been a global example of strength and resilience against the US Dollar. $XOC unleashes this power in the DeFi ecosystem , giving the rest of the world access to our economy, but more importantly creating a relationship between ETH and MXN, a vision that belongs to only those who are able to see the future that awaits.
$XOC is Mexico’s best tool to build a decentralized financial system. Financial empowerment is the key to a better future for all Mexicans.
Frequently Asked Questions
This section is for answering frequently asked questions from the emerging community around $XOC and all that jazz.