EpoxyDAO is a cross-chain DeFi project and a DAO. EpoxyDAO is like a vault for existing stablecoins, people can lock their ERC20 stablecoins and issue eUSD which is our own stablecoin. The main goal of EpoxyDAO is to merge all the existing stablecoins and have one standard stablecoin that is eUSD. We want to make stablecoin or fiat transactions easier, cheaper and efficient than ever. So we will create a dedicated blockchain (Epoxy Stablechain) for our eUSD transactions. EpoxyDAO will primarily issue ERC20 eUSD but ERC20 eUSD can be wrapped/unwrapped anytime using Ethereum-Epoxy bridge. When anyone will wrap ERC20 eUSD, he will get eUSD on the Epoxy Stablechain.
Everyone knows Ethereum network is overloaded and token/stablecoin transactions are not efficient anymore. It can be said that there are other blockchains such as Tron, EOS which are cheaper at the moment; but there is a high probability of the network getting overloaded just like Ethereum in the future. This risk is true for all smart contract platforms. So we separate our stablecoin chain so that we won't have to face this issue anymore, not now and also not in the future.
EPX is EpoxyDAO's governance token. It is primarily used to control the protocol. EpoxyDAO rewards EPX to eUSD issuers, so it creates incentives to lock other stablecoins and issue eUSD. We have created an algorithm called xLoop, using this algorithm we can lock 100% of the ERC20 stablecoins for eUSD. So we expect to capture at least ~5B USD marketcap in ~2 years.
Objective/Future (Use of funds)
Project Development & Marketing.
Partnership with big exchanges, employee recruitment.