Can’t wait. looking forward to see XSGD grow!
The DeFi world will be more exciting with more solid non-USD stablecoin options.
Looking good haha, 100% would support
GIVE ME XSGD !!! 
Great addition to have!
When you think of Singapore, you think of law & order, transparency and biz-friendliness. Wellll… now you got XSGD that personifies these values… So why not???
This is a pass from me.
This token lacks DeFi adoption and barely has any liquidity on DEXs/AMMs.
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Agree with @Son_of_Ishtar, there is not enough decentralized exchange liquidity to support this asset yet. A trade of only 100k USDC would cause 8% market impact (per 1inch data):
Aave needs assets to have decent decentralized exchange liquidity, as liquidators generally only close positions if they can do it profitably within a single atomic transaction. This means centralized exchange liquidity and creation/redemption facilities are not as useful for ensuring money market safety.
I love the idea of having more non-USD stablecoin options on Aave, looking forward to improved XSGD liquidity on DEXes in the future so we can make this happen!
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A way to earn and borrow against SGD is needed. This allows people to avoid FX when borrowing against Dai or USDC
Hey monet-supply,
Thanks for your feedback on XSGD liquidity.
You might wish to note that most of the liquidity detected by 1inch has moved to Uniswap V3 and a trade of 100k will now result in a much reduced slippage of 2.68% through a 1inch trade, ~ 95% relying on Uniswap V3.
We have also noticed that a large portion of the liquidity is currently not captured by 1inch. The StraitsX team has been working closing with partners like DFX.finance, which is currently in the midst of migrating from Balancer to their own stablecoin optimized AMM.
Compared to the current Uniswap V3 pool, DFX had more than 20x the liquidity and now has around 15x the liquidity while the migration is still finalising.
With that level of liquidity, a 1MM trade will result in an estimated slippage of 0.2%.
We expect once the DFX migration is complete, the slippage for a 1MM trade will fall even further to less than 0.1%.
Jun Hao, Head of Engineering, StraitsX
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he XSGD ecosystem looks impressive!
wow, thanks for sharing.
0.1-0.2% slippage is definitely good news, ppl can exchange at a better price!
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Singapore is pushing for blockchain innovation the most out of all the countries right now when you compare them with the US, China, Japan etc. Adding XSGD a token backed by the MAS (Monetary Authority of Singapore) should definitely be implemented. By adding XSGD, you are effectively opening/bringing in huge liquidity from a very rich country, adding XSGD also brings some regulatory confidence (With Singapore’s famous strict finance regulatory laws), many South East Asian countries would definitely be more inclined to play a part. One of them could be Indonesia, who are currently working on their own digital currency similar to XSGD.