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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. .

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This is our Pitch

Why $XOC?

Benefits

Problem Statement: Corruption, Bureaucracy, and Crime

Mexico's economic growth is hindered by three major issues:

  • Government Corruption

    Corruption is a major issue in Mexico, with the country ranking 126th 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.

Benefits
Curious?

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.

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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
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Aug.21.2022Xocolatl Contracts were deployedDuring ETH Global Mexico
  • Xocolatl was born at ETHGlobal Mexico at Proyecto Publico Prim
    During this hackathon, the Ethereum community descended in Mexico City to build the future of finance and during a gruesome 48 hours of hacking, the Xocolatl team deployed the first version of the Xocolatl protocol. Initially, the stablecoin was deployed with the same address to Polygon, Optimism, Gnosis Chain, and Arbitrum, although only Polygon was the focus at the start.
  • Cross-XOC is deployed using the Connext (now Everclear) toolkit
    Everclear is an innovative public good mechanism designed for cross-chain intent settlement. Everclear supports permissionless expansion to new chains and rollups, enabling any application to onboard users from other chains. The architecture involves three key messages— Intent, Fill, and Settlement—processed across chains by offchain agents, ensuring liquidity and efficient settlement through Hub and Spoke contracts, with solvers executing and settling intents for cross-chain actions. The initial supported actions include token bridging, flash loans, debt recovery, and XOC bridging, with plans to extend to other services in the future.
  • Xocolatl is released on Base
    Thanks to the hard work from the community, and funding from the Optimism Foundation, Xocolatl is released on Coinbase’s Base Layer 2 network with complete support for the Base native assets, along with a new innovative dual peg system to enable liquid staking of the ETH that is held in reserve by the network.
  • First MIP-12 Passed
    The first-ever Xocolatl improvement proposal is passed by the DAO. A major milestone on the decentralization of Xocolatl and DeFi in Mexico.
Inspiring testimonials!

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.

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Jorge Magni
Kairos Research

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.

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Chuy Garcia
DappNode

$XOC is Mexico’s best tool to build a decentralized financial system. Financial empowerment is the key to a better future for all Mexicans.

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AcidLazzer
Ethereum Mexico

FAQs

Frequently Asked Questions

This section is for answering frequently asked questions from the emerging community around $XOC and all that jazz.

How is the value of each $XOC backed?
Each $XOC is backed by an ERC20 token on the EVM-compatible chain of your choosing. This backing ensures that each $XOC can be liquidated for its equivalent value in $XOC-denominated debt and settle the account in the process, all backed by the network of validators. Minting contracts are currently live in Arbitrum, Base, Binance Smart Chain, Gnosis Chain, Optimism and Polygon.
What can I do with $XOC?
You can use $XOC to pay off debts, acquire goods and services, or simply hold it as a store of value, much like any other Mexican peso. Additionally, you can support La DAO community by building the next open and decentralized financial system. Ask us how to get started on Discord or Telegram.
Who maintains all this?
We utilize a business model based on a DAO, currently known as 'La DAO.' This decentralized autonomous organization is responsible for managing all the work needed to build in DeFi. We are establishing a DAO LLC to manage the legal and local financial aspects of the project.
How can I get involved?
You can acquire $XOC on any exchange that offers it, or participate in the DAO and contribute to building the future of decentralized finance. If you have skills you think may be useful, feel free to reach out to us.