We hope you survived the market turbulence of the past few weeks. We sure did and went heads down into the preparation of Arkadiko testnet. As promised, here are some details on our upcoming testnet launch.
Arkadiko is going live on testnet on the 16th of June, so mark that date in your calendars! Since this will all be on testnet, no real money is used yet and you can experiment in whichever way you like.
Testnet will run for approximately 8 weeks until mid August. There will be two testnet releases:
The Arkadiko protocol introduces two fungible tokens: xUSD and DIKO.
Applications that need stable value can start integrating xUSD to enable trading, lending, swapping, prediction markets, gaming, gambling, e-commerce, fiat-off ramps, borrowing against tokenized stock portfolios, paying authors, … The possibilities are endless.
But what is xUSD you may ask? xUSD is the first stablecoin to be launched on Stacks. It is a USD soft-pegged stablecoin. As with most stablecoins, it will be traded on markets with other stablecoins such as USDT and USDC when they become available on Stacks.
Currently the concept of a stable asset does not exist…
We’re excited to unveil the Arkadiko Protocol today, a crypto-collateralised decentralised stablecoin (xUSD, soft-pegged to 1 USD) and lending platform that provides liquidity for all DeFi built on top of Stacks and Bitcoin.
We are in the midst of a gigantic bull market at the time of writing (May 2021), ignited by a mix of institutional money buying bitcoin and others aping into DeFi and NFTs :) We believe that the biggest innovation our space has seen in the last two years is in DeFi, and the way forward to enable the $1 trillion in bitcoin currently sitting idle is…