Current & Future Directions for the xDai Stable Chain

Fiat to xDai Onramp

β€‹πŸŽ― Target: Q4 2019 βœ… Status: Carbon implementation complete, additional implementations ongoing.

The Carbon on-ramp for xDai is now functional (functionality is dependent on geo-location).

At the moment, to get xDai, most users have to get Dai first and relay it to xDai via xDai Bridge. The process is complicated and time-consuming due to congestions on the Ethereum networks and the probabilistic nature of Proof of Work consensus. Relayers of the xDai bridge are waiting for eight blocks on Ethereum before they relay Dai to xDai.

The xDai team is working with payment processing companies to enable Fiat to xDai onramp. To facilitate the integration of xDai fiat onramp into wallets, the team started "xDai Adoption Fund"​

Multi-Collateral Dai <-> xDai Bridge

β€‹πŸŽ― Target Date: Q4 2019 βœ…Status: Complete. Summary:​

xDai bridge is upgraded to support both Dai and Sai.

Bridge balance migrated from Sai to Dai. Both Dai and Sai can be deposited on the Ethereum side. Sai to Dai converted automatically.

Once the Dai protocol implementation is upgraded to MCD (Multi-Collateral Dai), the xDai bridge will also be upgraded to use MCD Dai.

Chai <-> Dai Bridge Contracts Update

β€‹πŸŽ― Target Date: Q1 2020 βœ…Status: Completed 03/31/2020

Bridge contracts are upgraded and functional. For more on Chai, see the Chai FAQs.

The new version of the bridge contract supports usage of the Dai Savings Rate contract through the Chai token to earn the interest for tokens deposited on the bridge balance. Dai locked in the bridge contract is converted to Chai, an interest earning form of Dai. The interest accumulated from the locked Chai during a staking epoch will be used as an additional incentive for stakers in Phase 2 of the consensus upgrade.

Consensus POSDAO Upgrade: Phase 1

β€‹πŸŽ― Target Date: Q1-Q2 2020 βœ…Status: Completed 04/01/2020

Phase 1 of the POSDAO upgrade was successfully activated April 1, 2020.

xDai will upgrade to a Proof of Stake model in several phases. In the first phase, the current validators will receive xDai-based STAKE tokens and to protect the chain. These validators will remain in place to assist in the transition to phase 2.

For more information on this transition, see the staking roadmap.

Consensus POSDAO Upgrade: Phase 2

β€‹πŸŽ― Target Date: Q2-Q3 2020

To increase decentralization and enable a permissionless consensus process, the broader community will have the opportunity to participate as validators and/or delegators in the consensus process.

For more information on this transition to public staking, see the staking roadmap.

Privacy Preserving Transactions

β€‹πŸŽ― Target Date: Q3 2020

Implementation of additional zero-knowledge protocols and private transactions into xDai.

Since xDai is a stable token, the primary use of the chain is peer-to-peer payments. Just as with cash, privacy should be an option when exchanging money or paying vendors for services. It doesn’t matter if you are sending money to a relative or your local butcher. You should have the freedom to choose that any transaction remain anonymous.

We have invested in several different approaches to implement different ZK protocols into xDai based applications and wallets.

Synthetic Assets on xDai based on UMA protocol

β€‹πŸŽ― Taget Date: Q2 2020

UMA is a decentralized financial contracts platform built to enable Universal Market Access. Use UMA’s self-enforcing contract design patterns and provably honest oracle mechanism to create your own financial products using standards like ERC20

xDai will leverage UMA protocol to create derivatives on fiat currencies and enable them in supporting wallets.

L2 scalability for token transfers on xDai

β€‹πŸŽ― Target Date: Q3 2020

A scalability solution based on zero-knowledge protocol (Rollup) will be deployed on xDai. This will enable scaling of transfers (up to 1000x) for native token and synthetic tokens on top of xDai.

xDai NG (New Generation) POS Chain

β€‹πŸŽ― Target Date: Q3 2020

A chain created specifically to leverage POSDAO, HoneyBadger BFT and Multi-Collateral DAI. This network will be designed from the ground up to use STAKE tokens and HBBFT consensus.