Developers Forum for XinFin XDC Network

Cover image for Proposal | US+ Stablecoin
Troy S. Wood
Troy S. Wood

Posted on • Updated on

Proposal | US+ Stablecoin

Voting START date: November 19, 2022 10:10 AM EST
Voting END date: November 26, 2022 10:10 AM EST


Bring the US+ Stablecoin to the XDC Network

Just like any successful project, the XDC Network sometimes experiences growing pains that involves uncertainty, formation of procedures, as well as being rough around the edges at times until something beautiful is born upon maturity.

From day one, the founders of the XDC Network have always put the community first, desiring organic growth and leadership from the general public. To which, many have stood up and dedicated their time, energy, and have committed to seeing that real world utility is created on the XDC Network. Tremendous utility and benefits have already been realized for both business and retail users.

To honor the current direction tasked to the XDC Network community, Impel and Fluent Finance are stepping back in time to ask the XDC Network community for their support and feedback in regards to bringing the next generation US+ stablecoin to the XDC Network.


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On October 6, 2022
Impel and Fluent publically announced strategic partnership:
Official press release announcement;.

Impel Brings Fluent's Federated US+ Stablecoin To XDC Network

Impel brings Fluent's US+ Stablecoin to the XDC Network, a Layer 1 blockchain, for more than just cross-border payments. Impel and Fluent have entered into a strategic partnership that will deliver a variety of innovative software solutions to the XDC Network’s ecosystem by allowing traditional banks and financial intuitions to benefit from decentralized finance using DLT.

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Learn more about Fluent Finance:

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Fluent agrees to perform the following:

  • Mint US+ natively on the XDC Network
  • Support integration of Impel's ISO 20022 API with XRC-20 US+
  • Support Impel’s ISO 20022 API integration into Fluent’s federation of member bank's core banking systems
  • Contribute with co-selling to Fluent’s core banking partners
  • Support access to money market yield for US+ minted on the XDC Network ecosystem

Impel and Fluent have already initiated collaboration with many Layer 2 projects on the XDC Network for US+ integration, including:

  • XSwap Protocol
  • ElitWeb3
  • Fathom
  • Prime Numbers
  • Many more to integrate...

In addition, both Impel and Fluent teams have been meeting together with potential clients, adopters and users of Impel's solution offerings together with Fluent's US+ stablecoin, as it makes a perfect solution for endless applications in payments and trade finance, allowing for instant settlement.

At this time, we are not able to say specifically who, what, and when; we can say that our efforts are looking real promising to bring billions of dollars and significant transaction volume onto the XDC Network.

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Impel is a fintech innovator with Layer 2 solution offerings built on top of the XDC Network’s blockchain DLT for forward-facing banks, FIs, and corporates. The robust solutions include an ISO 20022 financial messaging API with optional instant settlement capability using digital assets such as Fluent Finance’s US+ stablecoin, as well as providing a bridge to the R3 Corda private DLT platform from the XDC Network’s public blockchain, so entities can settle contracts and agreements in seconds using digital assets rather than using traditional banking systems that take much longer to process payments.

Learn more about Impel:

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What this proposal and vote is for...

In return for Fluents agreed upon terms below, Impel has solicited XDC Network ecosystem development grant funds to pay for the following:

Note: Because we are just now involving the XDC Network community, this community vote is taking place during the existing implementation process that is currently underway. A few of the items have already been completed, but a few items remain to satisfy the initial Impel and Fluent Joint Venture Agreement.

We ask that our "best foot forward" approach be humbly accepted and appreciated by our fellow XDC Network community members.

The grant to be contributed by Impel to Fluent in the amount of $250,000 (USD), shall be paid in $XDC, in the following tranches:

Item already completed and payment obligations satisfied:

  • (COMPLETED and FUNDS PAID) $50,000 (USD) shall be due and payable upon execution of this agreement by Impel.

Item partially completed and currently in process:

  • (FUNDS RECEIVED, MINTING US+ BY END OF Q4 2022) $50,000 (USD) shall be due and payable by Impel upon US+ reaching stage of production environment and enterprise-ready status on the XDC Network, Impel will convert $50,000 (USD) on the XDC Network’s mainnet to US+ stablecoin as an investment to use as Impel solely chooses to support the XDC Network's ecosystem's growth.

Items currently in process and payment obligation outstanding:

  • (EXPECTED COMPLETION & FUNDS DUE END OF Q4 2022) $50,000 (USD) shall be due and payable by Impel upon US+ smart contracts have been fully implemented onto the XDC Network’s production mainnet environment and it is in production-ready position for enterprise usage.

  • (EXPECTED COMPLETION & FUNDS DUE END OF Q4 2022) $50,000 (USD) shall be due and payable by Impel upon completion of code audit from professional third-party consultant, and completion of any potential recommendations for improvement for US+ in the stage of development on the XDC Network ecosystem.

  • (EXPECTED COMPLETION & FUNDS DUE DURING Q1-Q2 2023) $50,000 (USD) shall be due and payable by Impel upon successful integration of pilot program for Impel’s ISO 20022 API into two of Fluent’s banking partners (a banking pair partnership for sending/receiving financial messages via Impel’s ISO 20022 API).


As they say, "better late than never"!

Thank you for taking the time to be involved with the XDC Network, for giving this proposal consideration, as well as for casting your vote.

In sincere obligation and dedication to the XDC Network community,
The Impel and Fluent Finance teams

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Cast your vote in the discussion section below:

Voting START date: November 19, 2022 10:10 AM EST
Voting END date: November 26, 2022 10:10 AM EST

In favor of proposal, submit "Vote = YES"
Not in favor of proposal, submit "Vote = NO"

Discussion (51)

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onxdcnetwork profile image
Tre Nelson
  1. I like the idea of a stable coin minted natively on XDC

  2. I applaud the idea of it being ISO20022 compliant

  3. I love the idea of integrating it with other companies building on XDC (XSwap, Fathom, Prime Number)

This initiative will strengthen, bring more awareness to, and mainstream adoption of the XDC Network!

Vote = Yes!

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mrblockchain22 profile image
Salomon Morales • Edited on

Vote = YES

I love the idea of a stablecoin on the XDC Network. Especially because "Fluent has already entered into numerous partnerships with US-based banks to integrate US+ into their core-banking systems that will be connected to the XDC Network." (source: official press release announcement). I hope to see this US+ stablecoin be successful and attract more banks and other projects to actually utilize it. The growth for the network will be excellent and I wish both Impel and Fluent much success.

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cathy_slider_b608b7bf689e profile image
Cathy Slider

Vote = YES

Fluent is onto something really strong here. By developing a consortium of banks who must meet minimum liquidity requirements (and other requirements), they are introducing a stablecoin the right way. This is a solid project that will elevate XDC Network's status amongst enterprise projects, especially financial institutions.

Nice work Troy and Impel!!

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tpada13 profile image
Jonathan

Vote = Yes

Having a native stable coin is critical to the XDC Network ecosystem growth. To know Fluent (US+) is backed by a federation of banks and will have fully auditable reserves is where the industry is headed; having US+ built on XDC is great news all around.

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pancudaniel7 profile image
Daniel

I like the idea of having US+ on the XDC network, I also think it will have a great positive impact. My vote is YES!

Vote = Yes!

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andrea_frosinini profile image
Andrea Frosinini • Edited on

Vote=YES

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walterblueu profile image
Jon McBee

Vote = Yes

This is an important integration that will enable new kinds of growth for the network.

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pb profile image
Peter Brooke

Wow. ISO20022 & US+ - what a combination

100% Vote = YES

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xxxxx_xdc profile image
xxxxx.xdc

vote = yes

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marko_daniell_9abc3f0e3b3 profile image
Marko Daniell

Vote = YES
The xdc network is looking better and better every day especially with new projects coming on the xswap launchpad and DEX ❤️

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s4njk4n profile image
s4njk4n

Vote = Yes

Great work Impel!

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ravikumar_j_5016c023f6919 profile image
Ravikumar J

Vote = Yes

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e_2_592b67f295573a93c0685 profile image
e 2

Vote = YES

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chixzy_oge_e3d561e8262dc7 profile image
Chixzy Oge

The ISO 20022 API solution and the US+stable coin combo are great!
Vote=Yes

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bblock profile image
Brad Akers

Vote= Yes

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mohit profile image
Mohit Dhiman

VOTE = YES !

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ronald_mitchell_0de6c6219 profile image
Ronald Mitchell

VOTE: YES

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harleyhermanson profile image
harley hermanson

Yes

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jim_wood_505c5a6e0d081aab profile image
Jim Wood • Edited on

Vote = Yes

US+ Stablecoin will increase XDC utility in the marketplace

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zoup_26b5e3c7 profile image
Armin Ranjbaryan

Vote = YES

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lance profile image
Lance Lilly

This will highly benefit the XDC ecosystem. These efforts and integration will not only increase on chain volume, but help attract new participants to the network across multiple industries.

Yes

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nikos_chondromatidis profile image
Nikos Chondromatidis

VOTE = YES

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n_w_rct profile image
NIcholas Winch

Vote = YES

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thuliosenechal profile image
ThulioSenechal

Vote = YES

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l2dy profile image
Zero King

Vote = YES

This brings a lot of potential to the XDC Network.

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bananajac profile image
Alex See

VOTE = YES

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cheow_katgoh_fed626af528 profile image
Cheow Kat Goh

Another huge milestone

Vote = YES

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mogithehurt profile image
mogithehurt

Vote = YES
I like the idea of having US+ on the XDC network

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chaingamer profile image
Matthew Weisenthal

Vote = Yes

This is a great initiative. Fluent’s services offered to layer 2’s and driving liquidity into the dapps within the XDC ecosystem. Let do it!

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gplay gplay

Vote= YES