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xDOGE is our new synthetic asset

February 22, 2022

xAVAX is now available

GM! πŸ‘‹

We are excited to announce that Dogecoin is our new synthetic asset 🐢

DOGE is remarkable to us since we are the first project that supports it on Solana 😎
From now on, you don’t have to leave the Solana ecosystem or use any bridge, because everything you would possibly need is here.

What are synthetic assets?

Synthetic assets closely track the price of specific assets assigned to them e.g. xBTC will have the same price as BTC on centralized exchanges. Synthetic assets have a form of the SPL-Token and can be freely transferred between wallets or used in other DeFi applications. Prices of all synthetic assets are provided by decentralized oracles built on top of the Solana blockchain ⚑

What is Dogecoin?

Dogecoin is a humorous alternative to traditional cryptocurrencies based on the doge meme. DOGE is peer-to-peer, open-source, and based on Litecoin. Also, unlike traditional cryptos, Dogecoin has an unlimited supply of coins. In 2021, its popularity exploded and DOGE became the fifth-largest cryptocurrency by market cap. πŸ“ˆ

We hope that this feature will finally bring Elon Musk to use our app 😎

If you would like to know more about this project, check out their website and Twitter.

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