XOLO IDO will be launching on BSCstarter V3, with the team releasing an updated schedule ahead of the launch. Here’s the scoop on the launch.
Xolo Finance On BSCstarter V3
XOLO Finance will be launching its IDO on BSCstarter V3 on May 18th. The launch will enable XOLO to unlock completely new business models on the Binance Smart Chain (BSC). Once the project is launched, dApp users can access new tokens or assets without modifying their portfolios. There will also be a XOLO market that long-term BNB investors can use to enhance their ROI.
XOLO can also be a source of monetization (incremental returns) for protocols, but they must have enough token balance in order to participate. This feature alone could lead to multiple new businesses on the BSC, who have been waiting to launch their products due to a lack of initial returns. There’s already a live testnet for XOLO, which will become official after their IDO.
XOLO Launch Roadmap
According to their Medium, XOLO has already accomplished some of its goals for this year and aims to achieve more before the end of the year.
Q1 – Q2 2021
The development and testing of the protocol as well as a successful edit have been completed. Goals planned for this quarter but yet to be completed are:
Token sale & distribution
Improvements on UI/UX experience
Governance funded Dapps on the Xolo protocol
Various cross-chain integrations
Mobile app launch
Fiat gateway integration
More governance funded dapps
About XOLO Finance
XOLO Finance is a Defi primitive & lending protocol for Binance Smart Chain. XOLO has several interest rate smart contracts which form the basis for other Defi DApps on the BSC. Similar protocols built on Ethereum include Aave, HiFi, Compound, or 88 MPH – XOLO is one of the first of its kind on the BSC. XOLO smart contracts come with a pre-built product & use cases for users to interact with. On April 29, 2021, XOLO announced that it had passed its Tech Rate audit with flying colors.
XOLO is partnered with Chainlink and ComicSwap, giving it access to a powerful oracle for its users. $XOLO is the protocol’s governance token – users can buy or increase their $XOLO tokens via a handful of methods, including lending/borrowing. After launch, there will be 35 million tokens available out of a maximum of 120 million.
BSCstarter is the most active community-oriented token presale platform for the Binance Smart Chain. It is a community-governed launchpad for raising capital for BSC projects without government interference or strict KYC rules.
There are several benefits for developers that use BSCstarter. One such benefit is the BSC-tied ecosystem where they can network with like-minded individuals. Mercor Finance and WISE token are the latest BSCstarter-backed projects on the BSC. Mercor Finance is a decentralized algorithmic trading platform for Binance Smart Chain, while WISE token ($wise) is an asset-backed cryptocurrency designed to be a highly secure store of value.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.