A stable coin provides peace of mind. Predictable currencies allow buyers and sellers to exchange value without the risks of volatility. In the xDai Stable Chain implementation, transactions are conducted using xDai, a stable coin with 1:1 value ratio to Dai. Because transactions occur on a bridged sidechain, they are extremely fast and inexpensive. In addition, transactions and fees are paid with a single coin.
The STAKE token will be used by validators and delegators to secure the xDai chain. Once DPOS (see below) begins, users will have the opportunity to participate in chain consensus, either as validators running xDai nodes, or delegators placing stake on those nodes. While participants will place STAKE to secure the chain, they will and receive rewards in xDai thanks to the unique reward mechanics.
Additional sidechains will also have the opportunity to use STAKE to secure their chains, making this the first multi-chain enabled staking token.
xDai Stable Chain will bring delegated Proof of Stake (DPOS) to Ethereum. The white paper describes all aspects of this new consensus protocol, called POSDAO consensus, including a complete overview of the theory, rationale, security, and a detailed implementation section. This is the xDai Stable Chain operator’s manual - download the White Paper now to learn how it works and why we need it!
Two bridges connect the xDai Stable Chain to the Ethereum mainnet, supporting seamless two-way asset transfer between chains. Tokens are acquired on the mainnet, then bridged to the xDai Stable Chain sidechain using either the Dai-xDai bridge for transactional tokens, or the DPOS bridge for staking tokens. Once a user is finished transacting or staking, tokens can be bridged back to the mainnet with ease.