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By EquitX
Enabling Stellar users to trade xAssets, participate in governance, and earn liquidity rewards on a secure and flawless DeFi platform.
As a reminder, EquitX enables the creation and management of synthetic assets mirroring small-cap stock performance, enhancing liquidity and investor access.
Our goal with the SCF Build Award is to complete the development of the entire EquitX protocol, bringing it from its current foundational state to full functionality. We have already developed the core smart contracts for collateralization, liquidation, and stability pools, and now aim to finish the entire system. The key areas of development include:
Admin tool for new asset onboarding: this tool will enable admins to onboard new xAssets linked to real-time data feeds. Stellar's blockchain will ensure transparent tracking and asset registration, allowing for scalable and efficient asset addition.
Blockchain indexing system: a Stellar-based indexing system will track all transactions (collateral, trading, liquidation) in real time, improving transparency and auditability while feeding data to the analytics tool. We will use a server for this functionnality.
Automatic liquidation system: using Soroban smart contracts, this system will automatically liquidate under-collateralized positions based on real-time data from Stellar, ensuring platform stability and mitigating risk.
DEX interaction: integrate liquidity pools of xAssets into Stellar’s decentralized exchanges, allowing users to trade xAssets at optimal prices. Stellar's DEX framework ensures secure and efficient trade execution.
Advanced analytics and reporting tool: we will use Stellar's transaction data to develop a tool providing real-time insights into asset performance and platform activity, enhancing user decision-making and platform transparency.
Full UI/UX development: the final user interface will offer seamless access to all platform functions, powered by Stellar and Soroban, for trading, governance, and analytics.
These developments will complete the EquitX protocol, providing users with a fully functional, scalable, and secure platform for trading xAssets, earning rewards, and participating in decentralized governance.
Yes
$105.0K
Success for EquitX is about democratizing access to investments in nano-cap, micro-cap, and small-cap companies, offering opportunities that have traditionally been difficult for retail investors to tap into. The platform’s success will be measured by both quantitative and qualitative outcomes:
Output: Reaching 20,000 active users within the first 12 months of full platform launch, with a balanced mix of both crypto and non-crypto investors.
Impact: Expanding financial access to traditionally hard-to-reach investment opportunities, allowing retail investors to diversify their portfolios into smaller, high-growth companies. This broadens financial inclusion by offering exposure to markets typically reserved for institutional investors.
Output: Onboarding 5+ nano, micro, and small-cap companies as xAssets within the first year. We won’t be integrating more than 5 company xAssets within this first year to keep good liquidity for each asset.
Impact: Helping smaller companies grow by increasing their visibility and liquidity without requiring them to go through conventional fundraising channels, such as equity dilution. This can drive economic growth, particularly in niche markets and emerging sectors.
Output: Reaching $60 million XLM in total trading volume, both within the EquitX platform and through external trading on Stellar DEXs, within the first year.
Impact: Bringing new liquidity into the Stellar ecosystem by encouraging the trading of synthetic assets. This will drive platform engagement, while also fostering financial innovation by bridging traditional financial markets and decentralized finance (DeFi).
Output: Reaching $15 million in Total Value Locked (TVL) within the first year.
Impact: A strong TVL will ensure liquidity and stability across the platform, encouraging more active participation from investors and supporting efficient trading of xAssets. This will also build confidence in the platform’s sustainability and growth potential.
Output: Establishing 1,500 CDPs within the first year.
Impact: The growth in the number of CDPs will demonstrate active user participation and platform trust. This will enhance liquidity within the system and create a more robust market for xAssets, reinforcing the platform’s role as a bridge between traditional finance and decentralized finance.
Output: Maintaining 100% transparency and security for all platform transactions, with no security breaches or fraud.
Impact: Enhancing user trust and confidence in the platform, which is crucial for widespread adoption and long-term growth.
In summary, success for EquitX will be measured by the growth of its user base, the liquidity it brings to nano, micro, and small-cap companies, the trading volume it facilitates, and the financial opportunities it opens up for a broader audience. The impact goes beyond numbers, EquitX will create a new bridge between traditional finance and decentralized finance, offering a solution for investors to access untapped market potential in a secure, transparent, and efficient manner.
These numbers are mainly based on a similar protocol, Indigo, that has been launched 2 years ago on Cardano.
After completing the development of the EquitX protocol, our go-to-market strategy will follow a phased approach:
Content marketing on Discord and X: during the development phase, we will and are already publishing content on Discord and X to build awareness and generate interest in the protocol. We will continue sharing updates and insights, ensuring the community stays engaged and informed as we progress toward launch.
Rewards and surprises for early users: to create hype and incentivize early adoption, we will announce and offer rewards to users who engage with the platform from the start. This strategy will build excitement around the launch and foster early community loyalty.
Liquidity injection from investors: to boost initial liquidity, we plan to seek investments for liquidity injection. This will provide a strong foundation for trading and stability pools, ensuring the platform has the liquidity needed to support early users and incentivize engagement.
Targeted user acquisition: after launch, we will focus on acquiring early adopters from the DeFi community, particularly those interested in synthetic assets and decentralized governance. For that, we may invest in paid marketing on social media to accelerate user growth and ensure broad exposure within the DeFi space.
Community engagement and governance: launching the governance system early will allow users to actively shape the platform's direction. We will encourage participation through token staking and voting, ensuring the community is deeply involved and rewarded for their engagement, fostering long-term loyalty.
Educational content and onboarding: to simplify the onboarding process, we will create educational materials such as guides, tutorials, and webinars. This will help users understand how to trade xAssets, participate in governance, and maximize their experience on the platform, fostering trust and usability.
Collaborations: with other DeFi projects (especially DEXs) of the ecosystem. This will also raise awareness about our protocol and extend our user base from existing Stellar users.
Our phased launch will start with governance token distribution and asset onboarding, followed by full functionality like trading and staking. By combining early community engagement through rewards, liquidity injection from investors, and targeted marketing, we will establish a strong initial user base and a stable liquidity environment.
Testnet and Development Phase
Actively refining the platform on the testnet to optimize user experience and security before launch.
Testnet link
Growing Presence on Social Media
Building a community on X with 500+ followers, engaging with the DeFi ecosystem.
X profile
Newsletter Engagement
200+ subscribers receive updates on technical progress and market insights, building early interest. From our website: https://equitx.com/
Direct Collaboration with LOAM
LOAM helps co-develop smart contracts and optimize collateralization.
LOAM link
Reflector, a key component
Reflector provides reliable real-time price data for synthetic assets.
Reflector link
Incubation with ESSEC Ventures
Supported by ESSEC Ventures with mentorship and networking opportunities.
ESSEC Ventures link
Comparable Protocol:
Indigo Protocol is a decentralized platform on Cardano that creates synthetic assets, similar to EquitX’s approach. However, Indigo focuses on synthetic assets that are native to other blockchains, such as cryptocurrencies, rather than stocks like EquitX. While both platforms share similar technical processes, EquitX uniquely targets synthetic representations of small-cap equities on Stellar’s blockchain. Currently:
Indigo’s Total Value Locked (TVL) in USD stands at $33.81 million with a peak at $125.56 million in March 12, 2024, demonstrating the strong market demand for decentralized synthetic assets
DefiLama
8,73 million of their stablecoin iUSD is circulating for a total market cap of $7,61 million
DefiLlama
Retrospectively, only 2 months after launch, Indigo was at:
14.37M TVL
6.38M USD in iAssets
935 CDPs
The following milestones have been completed following our first award, to create our first MVP - https://equitxcompany.github.io/equitx-project/#/:
✔ Smart Contracts Framework Development for Collateralization and Stability Pools: Design and development of the foundational smart contracts framework to manage the collateralization process and interactions with stability pools. This includes the logic for creating, managing, and liquidating collateral positions, as well as the reward mechanism for pool participants.
✔ Oracle Development for Real-Time Valuation: Development of an oracle system to provide real-time valuation data for small-cap equities, ensuring accurate and timely information for trading and collateral assessment.
✔ User Interface Prototype for Asset Management and Collateralization: Creation of a user interface prototype enabling users to visualize, manage their assets, and initiate collateralization operations. This prototype will also include visualizations of stability pools and functionalities to participate in them.
✔ Integration and Initial Testing of Smart Contracts with User Interface Prototype: Integration of the developed smart contracts with the user interface prototype, followed by a testing phase to ensure the reliability and security of interactions.
1) Admin Tool for New Asset Onboarding
Description: Development of a tool that allows platform admins to onboard new xAssets efficiently. The tool will link new assets to oracles for real-time data, manage asset parameters (e.g., collateralization ratios), and ensure they can be traded on the platform.
Success Measurement: A fully functional tool that allows admins to add new xAssets, integrated with oracles for market data, and linked to the platform’s collateralization and liquidation systems. The first batch of xAssets is successfully onboarded and tested.
Estimated Completion Date: November 26, 2024 (~1 month)
Budget: $14,700
2) Blockchain Indexing System Setup
Description: Setup of a blockchain indexing system to track and archive all transactions on the platform, including collateralization, minting, trading, and liquidation. This system will provide real-time data to the backend and user interface, and ensure transparency for audits. Using a server?
Success Measurement: A fully functional indexing system that archives transactions in real-time and provides accurate data for the platform’s user interface and backend services. The system successfully tracks the first batch of xAssets onboarded and their associated transactions.
Estimated Completion Date: January 03, 2025 (~1 month and a week)
Budget: $21,000
3) Automatic Liquidation System Development
Description: Development of an automatic liquidation system that monitors collateral positions in real-time. When a position falls below the required health threshold, the system automatically triggers liquidation via smart contracts to ensure platform stability.
Success Measurement: A fully operational automatic liquidation system that accurately tracks collateralization health and triggers liquidations when necessary, preventing under-collateralization. Successfully tested on real market conditions with xAssets.
Estimated Completion Date: January 20, 2025 (~3 weeks)
Budget: $10,500
4) xUSD Integration and Liquidity Pool Creation on Stellar DEXs
Description: This milestone involves two key tasks. First, the integration of xUSD into the EquitX protocol with the creation of the first stability pool for the xToken, allowing users to stake and provide collateral within the platform. Second, the creation of liquidity pools for xUSD on major Stellar decentralized exchanges (DEXs), enabling users to trade xUSD efficiently across multiple DEXs.
Success Measurement: Successful integration of xUSD into the protocol, with a functional stability pool available for users to provide collateral and maintain platform stability.
Liquidity pools for xUSD are live on major Stellar DEXs, enabling trading.
Estimated Completion Date: January 31, 2025 (~1,5 week)
Budget: $6,300
5) Advanced Analytics and Reporting Tool
Description: Development of an advanced analytics and reporting tool that provides real-time insights into xAsset performance, collateral health, trading volume, and liquidation events. The tool will serve both users and admins, offering detailed reports to aid in decision-making.
Success Measurement: A fully operational analytics tool that provides detailed reports on platform activity, including collateral health, liquidation history, and trading metrics. Successfully delivers insights to both users and admins with real-time data from the indexing system.
Estimated Completion Date: February 22, 2025 (~3 weeks)
Budget: $16,800
6) Full UI/UX Development (Final Version)
Description: Complete development of the final user interface and experience for the platform, ensuring a smooth and intuitive design for all user interactions. The UI will cover asset management, trading, governance, and rewards, providing users with an optimized experience.
Success Measurement: A fully polished, user-friendly interface that integrates all platform functionalities (asset management, governance, trading, and reporting). The final version is launched, successfully tested with user feedback, and ready for broad user adoption.
Estimated Completion Date: April 06, 2025 (~1,5 months)
Budget: $25,200
7) Platform Testing and Optimization
Description: Conduct testing and optimization of the platform’s core functionalities, including smart contracts for collateralization, liquidation, and trading. This milestone will ensure that the platform performs well under various scenarios, including stress tests in real market conditions. Additionally, it will include fine-tuning the system for scalability and user experience improvements.
Success Measurement: Full testing and optimization of the platform's core features, with documented performance improvements. The platform successfully passes stress tests under simulated real-world market conditions, ensuring scalability and robustness.
Estimated Completion Date: April 25, 2025 (~3 weeks)
Budget: $10,500
Our team consists of two core members, Mohamed and Barth, combining expertise in finance, engineering, blockchain, and product development. We’ve built blockchain tools and are working closely with Aha Labs, a leading blockchain development studio on Stellar, to bring our protocol to life.
1. Mohamed DABLADJI – CEO
Mohamed Dabladji is a finance professional with a Master's degree in Corporate Finance, focusing on the application of blockchain in Security Token Offerings (STOs). He has significant experience in investment banking, having worked at BNP Paribas' Innovation Business Center, where he contributed to the dynamic startup sector. Mohamed also holds a dual degree from CentraleSupélec and ESSEC, with a thesis centered on adding liquidity to the private equity market. His deep understanding of finance and blockchain allows him to drive innovation in the financial industry.
Connect with Mohamed: LinkedIn
2. Barth Houot – CTO
Barth Houot is a graduate of Icam engineering school and holds advanced business degrees from CentraleSupélec and ESSEC Business School. He combines strong engineering skills with strategic business knowledge, developed through his different experiences in product development and continuous improvement at Wipak and PowerOfMoss. Barth has also founded Adapptable, a company dedicated to building no-code blockchain tools to democratize blockchain development for everyone. His passion for web3 and blockchain technology along with his engineering skills make him a key driver in the development of EquitX.
Connect with Barth: LinkedIn
3. Collaboration with Aha Labs, makers of LOAM:
We are partnering with Aha Labs, a highly regarded blockchain development studio, to build and optimize EquitX. Aha Labs specializes in blockchain infrastructure, smart contracts, and decentralized applications, making them the perfect collaborator to help us achieve our vision. Their expertise in scaling secure blockchain solutions ensures that our platform will be robust, efficient, and primed for growth.
Aha Labs Website
3. Blaine Heffron - Senior Engineer at Aha Labs
Blaine is a full-stack web developer and physics Ph.D. graduate with over 12 years of programming and research experience.
Currently a Senior Engineer at Aha Labs, Blaine is proficient in C++ and Rust, which are crucial for developing robust blockchain applications on Stellar. His skills in integrating open APIs, applying machine learning models, and developing web applications are highly relevant for advancing Aha Labs' and Stellar's innovative projects in the decentralized space.
Connect with Blaine: Github/ LinkedIn
4. Pamela Selle - Senior Engineer at Aha Labs
Pamela Selle is a seasoned technologist with over a decade of experience in software engineering and leadership. Currently a Senior Engineer at Aha Labs, she brings a wealth of expertise to LOAM. Her past roles include Senior Software Engineer II at HashiCorp, where she maintained the Terraform Core project, and working on web properties and cloud infrastructure at Comcast.
Pam's extensive background in developing robust software systems and her experience with various technologies make her a key asset to LOAM's development. Her leadership skills, honed through organizing events in the JavaScript ecosystem and other developer communities, further enhance her ability to drive innovative solutions.
Mohamed Dabladji
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