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By XOXNO - New Lending Foundation protocol
Description: XOXNO brings a lending and borrowing to Stellar through a simple user interface. Users will be able to deposit supported assets, borrow against collateral, repay debt, and withdraw liquidity.
Use of Stellar: The lending markets run on Stellar through Soroban smart contracts, Stellar asset transfers, on-chain balances, and automated risk rules.
Impact: This gives Stellar users another core DeFi primitive directly inside the ecosystem, starting with assets such as XLM, USDC, and EURC.
Description: Each supported asset has its own lending market, managed by Stellar smart contracts.
Use of Stellar: Soroban contracts handle deposits, borrowing, repayments, liquidations, interest indexes, reserves, and market-specific parameters.
Impact: This makes it easier to add new assets over time while keeping risk controls separate for each market.
Description: XOXNO will support more advanced actions such as multiply, collateral swaps, debt swaps, and repay-with-collateral.
Use of Stellar: When swaps are needed, the protocol routes them through Stellar-based swap infrastructure while keeping position safety checks inside the lending protocol.
Impact: Users can manage more complex DeFi strategies from one interface instead of moving between multiple apps and transactions.
Description: XOXNO supports multiple user positions and isolated markets with different risk settings.
Use of Stellar: Collateral rules, borrow limits, isolation debt ceilings, and market flags are stored and enforced on-chain through Soroban.
Impact: This allows Stellar community to access a wider range of assets, from major assets to community assets and future RWA-compatible markets.
Description: XOXNO integrates oracle infrastructure such as Reflector and RedStone for pricing and liquidation checks.
Use of Stellar: The protocol reads oracle prices through Soroban-compatible integrations and applies rules for borrow limits, liquidation thresholds, stale prices, and unsafe price movements.
Impact: This improves protocol safety during volatile markets and helps protect users, liquidity providers, and the broader Stellar DeFi ecosystem.
Description: XOXNO is building the full infrastructure needed to support the protocol after launch, including indexing, APIs, wallet connection, transaction signing, dashboards, and self-operated Stellar RPC infrastructure.
Use of Stellar: Protocol events, contract state, user positions, and transaction flows are indexed from Stellar and shown inside the XOXNO interface.
Impact: This gives users a smoother experience and gives the team better reliability, analytics, and operational control for running the protocol on mainnet.
$135.0K
XOXNO is a production-tested blockchain platform building since 2021.
We are known for building reliable infrastructure and shipping products that solve real user problems on-chain.
We first scaled as the leading NFT marketplace in the MultiversX ecosystem, serving more than 100,000 unique users and generating over $25 million in primary mint volume and more than $15 million in secondary trading volume.
In 2024, we raised $2 million. Part of that capital has already been invested in the architecture, infrastructure, and product stack now being prepared for Stellar.
Our swap aggregator was recently integrated into the MultiversX ecosystem’s main DEX. As a result, our smart contract has ranked #1 on the explorer on multiple days, processing more than $500 000 volume daily.
Announcement: https://x.com/xExchangeApp/status/2032104090520653969?s=20
Our Dust Converter + Swap Aggregator module was also integrated into the main DEX. It was later integrated into xPortal Wallet as well.
Main DEX integration: https://x.com/xExchangeApp/status/2025950148023771193?s=20
xPortal Wallet integration: https://x.com/XoxnoNetwork/status/2041512221860155421?s=20
On the MultiversX Explorer, XOXNO has been the top-ranked dApp since 2021.
Our liquid staking protocol currently accounts for 2.6% of the total EGLD supply staked.
XOXNO Lending and Borrowing reached 2M in less than a month post launch: https://x.com/XoxnoNetwork/status/1962500343494819897?s=20
Moreover, we strongly believe in open source and transparency. XOXNO was the first team to open-source a DeFi protocol on MultiversX.
https://x.com/XoxnoNetwork/status/1889039733780586938
Event features:
Bucharest xDay event (main MultiversX conference): https://www.youtube.com/watch?v=FPi4sv3C2B4
Banking 4.0 event: https://www.linkedin.com/posts/mihaieremia_banking-events-blockchain-activity-7065655198513332224-n5sw/
Brand Minds conference: https://www.youtube.com/watch?v=a4E7_GO4XWU
We are also partners with the National Institute for Research & Development in Informatics (ICI Bucharest):
Total Budget: $27,000 | Estimated Duration: 2–4 weeks
[Deliverable 1]
Brief description: Compile, optimize, and deploy the foundational Soroban smart contracts for the core lending market pools supporting XLM, USDC, and EURC assets on the Stellar Testnet. This milestone focuses on writing the core mathematical algorithms for utilization-rate-based interest accrual, global liquidity monitoring parameters, and specific market risk limits.
How to measure completion: All core protocol pool and token adapter contracts are deployed to Stellar Testnet. A public GitBook or markdown repository is published containing verified Contract IDs linked to active Stellar Expert pages, alongside a documented, immutable matrix of active contract configuration settings and initialized Reflector pricing keys.
Budget: $5,000
[Deliverable 2]
Brief description: Develop and integrate the four primary end-to-end user transaction execution paths (Supply, Borrow, Repay, and Withdraw) directly into the XOXNO staging interface at xoxno.com, tightly backed by a production-grade Soroban ledger event indexer cluster. This includes implementing complete balance math states and account risk evaluation logic.
How to measure completion: Reviewers can successfully connect a Freighter wallet to the staging interface, sign transactions for all four financial flows, and verify that user account metrics, protocol-wide pool total values, and liquidation health factor changes update on screen within 3 seconds of ledger close.
Budget: $10,000
[Deliverable 3]
Brief description: Implement and secure atomic multi-token batch routing within the smart contracts, user interface, and indexer layers. This enables users to bundle the exact same lending action across multiple distinct asset types (e.g., executing a bulk supply of XLM, USDC, and EURC simultaneously, or a bulk repayment of multiple active debt assets) into a single transaction envelope using Soroban's native multi-auth vector capabilities.
How to measure completion: Successful on-chain execution of multi-token batch transactions (specifically bulk-supply, bulk-repay, bulk-withdraw, and bulk-borrow operations) on the Stellar Testnet. Public transaction hashes on Stellar Expert must explicitly verify correct parallel execution orders across different asset adapters, clean multi-token event logs, and accurate global account health factor updates within a single ledger close.
Budget: $7,000
[Deliverable 4]
Brief description: Publish a technical Reviewer Walkthrough and testing playbook outlining testnet instructions, contract interfaces, network configurations, structural flowcharts, and a summary of known system limits.
How to measure completion: An external voter or developer can run through the complete testnet MVP cycle entirely self-serviced, using only the provided documentation without requiring manual developer assistance or private code instructions.
Budget: $5,000
Total Budget: $40,500 | Estimated Duration: 4 weeks
[Deliverable 1]
Brief description: Develop, optimize, and deploy an atomic Swap Aggregator Router contract utilized by the core lending controller to process complex yield loops. The router manages external asset-swapping execution paths, while the core lending controller maintains strict internal tracking of slippage bounds, balance deviations, and pre/post-transaction account health check guardrails.
How to measure completion: The upgraded contract architecture is live on testnet. Public ledger logs confirm successful execution of a strategy loop using the router, showing verified execution proof that the transaction automatically aborts if intermediate asset slippage drops below user-defined tolerances.
Budget: $11,500
[Deliverable 2]
Brief description: Write and implement the production execution logic for four advanced, user-triggered position strategies: leverage looping ("Multiply"), collateral asset swapping, debt position swapping, and self-liquidation routes (repaying debt positions using internal deposited collateral assets).
How to measure completion: Reviewers can execute any of the four automated strategies from the web interface on testnet, with public transaction logs confirming multi-hop asset balance updates, backend re-indexing, and accurate position adjustments inside a single ledger close.
Budget: $12,000
[Deliverable 3]
Brief description: Develop and implement Efficiency Mode (eMode) math models for highly correlated token assets (e.g., USDC to EURC pairs) to maximize capital utilization, alongside Isolated Risk Markets that apply restrictive debt ceilings and borrowing bounds to low-liquidity collateral alternatives.
How to measure completion: The staging interface dynamically mirrors active eMode or Isolated risk states. Contract tests verify that the system successfully blocks an isolated asset from acting as collateral alongside mainstream assets, while safely allowing higher LTV parameters for stable asset pairs.
Budget: $5,000
[Deliverable 4]
Brief description: Code and deploy an uncollateralized Flash Loan contract architecture built specifically for the Soroban framework, including strict premium fee distribution logic, borrower contract callback interfaces, and robust reentrancy execution locks.
How to measure completion: A developer script successfully runs a flash loan transaction on testnet, demonstrating capital borrowing, external arbitrary utility execution, and principal repayment plus fees in one ledger entry, while proving the contract safely rejects reentrant calls.
Budget: $5,000
[Deliverable 5]
Brief description: Expand the codebase test coverage to safely navigate pricing and oracle vulnerabilities, specifically writing robust error handling for stale price feeds, oracle heartbeat dropouts, severe cross-feed divergence, bad-debt accumulation, and partial liquidation loops.
How to measure completion: A public GitHub repository is updated with an automated Rust/Soroban SDK integration test suite. Running the tests proves that the protocol programmatically halts borrowing actions when price feeds expire or become unsafe, and liquidates delinquent positions predictably.
Budget: $7,000
Total Budget: $54,000 | Estimated Duration: 4–6 weeks
[Deliverable 1]
Brief description: Deploy the complete, compiled, and optimized suite of lending smart contracts to the Stellar Mainnet, initializing the production lending genesis markets for XLM, USDC, and EURC with highly conservative launch parameters.
How to measure completion: The production controller and pool contracts are verified and live on Stellar Mainnet. Public explorer links show the finalized WASM hashes match our audited testnet commits, and risk variables are initialized on-chain.
Budget: $11,000
[Deliverable 2]
Brief description: Activate production mainnet lending environments inside the live XOXNO user application, deploying a secure, user-facing network toggle control and clean isolated global UI variables to completely separate real production assets from testnet sandboxes.
How to measure completion: The live application at xoxno.com shows a functioning network toggle. Mainnet users can securely link live Stellar wallets, check active mainnet pools, and track positions under a dedicated, visually unmistakable mainnet interface.
Budget: $9,000
[Deliverable 3]
Brief description: Launch our highly optimized production indexing cluster and high-availability public APIs to deliver real-time aggregate protocol metrics (TVL, utilization, interest rates) and individual user loan tracking directly to the dashboard.
How to measure completion: The production database and API services maintain a target availability greater than 99.5%. The dashboard updates dynamically via custom endpoints, delivering sub-second page loads for live protocol actions and historical trends.
Budget: $9,000
[Deliverable 4]
Brief description: Build and launch an automated, redundant "Storage Rent Keeper" bot infrastructure to systematically monitor and fund the state rent lifecycle of the protocol's critical Soroban Instance and Persistent contract storage keys.
How to measure completion: The storage rent keeper service is fully operational on mainnet. On-chain logs display public transaction proof of the keeper calling the extend_ttl operation whenever a vital contract storage key falls below our designated safety buffer.
Budget: $9,000
[Deliverable 5]
Brief description: Publish our comprehensive technical documentation, architecture definitions, and localized runbooks to ensure complete preparedness for the Soroban Security Audit Bank onboarding phase.
How to measure completion: A live, public developer portal containing extensive STRIDE threat models, system invariant rules, smart contract dependency trees, and localized runbooks explaining contingency actions for oracle, indexer, or RPC disruptions.
Budget: $8,000
[Deliverable 6]
Brief description: Conduct extensive final mainnet smoke testing, system performance checks, and maintain an initial post-launch monitoring buffer to guarantee complete protocol stabilization under live, user-facing conditions.
How to measure completion: Successful verification of zero high-severity or unhandled protocol errors within the immediate mainnet launch window, proving complete stability across live oracles, contract event logging, interest accumulation engines, and user dashboards.
Budget: $8,000
Core Capability: XOXNO is built by an experienced Web3 product and engineering team that has previously launched and scaled blockchain products across liquid staking, lending and borrowing, NFT marketplace infrastructure, and launchpad tooling.
Production Experience: Since 2021, the team has operated XOXNO as a production-tested platform serving 100,000+ users, processing $40M of on-chain marketplace volume, and building core infrastructure used across the MultiversX ecosystem. The same team is now bringing their expertise to Stellar through a new Soroban-based lending foundation.
Role: Founder & CTO
Responsibilities: Mihai leads XOXNO’s technical architecture, smart contract development, infrastructure, and protocol security work.
Background: He is a former Amazon backend engineer with deep experience in distributed systems, blockchain architecture, smart contracts, virtual machines, consensus mechanisms, and multi-chain DeFi infrastructure.
Execution Oversight: As technical team lead, Mihai also orchestrates execution across engineering, product, infrastructure, and security workstreams to ensure efficient delivery, clear priorities, and high-quality implementation.
Proven Design Portfolio: He has led the design and implementation of XOXNO’s marketplace, launchpad, liquid staking, lending, aggregator, and Stellar/Soroban protocol work.
Role: Co-founder & CMO
Responsibilities: Ulyana leads XOXNO’s product positioning, ecosystem communication, user growth, and go-to-market execution.
Background: She has strong experience in native Web3 marketing, community growth, content strategy, and growth hacking.
Core Focus: Her role is focused on making complex DeFi products understandable and accessible to users while supporting ecosystem adoption and product visibility.
Professional Profile: LinkedIn
Ulyana
Mihai Eremia
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