Description
La DAO is building a decentralized financial system for Mexico centered around Xocolatl ($XOC), a programmable stablecoin pegged to the Mexican peso. The project addresses issues of government corruption, slow bureaucracy, and organized crime by offering transparent, traceable, and immutable blockchain-based transactions. Users can mint $XOC by depositing collateral into the House of Reserve contract, borrow and lend $XOC through Aave-forked money markets deployed across multiple L2 networks (Arbitrum, Base, Ethereum Mainnet, Polygon, Optimism, Gnosis Chain), and provide liquidity to earn trading fees. La DAO is organized as a DAO (with plans for a DAO LLC to manage legal and local financial aspects) and serves developers, entrepreneurs, investors, and everyday users in Mexico's emerging DeFi community. The organization has been active since its founding at ETHGlobal Mexico in 2022, has expanded deployments across chains including Base and Optimism, received an Optimism Foundation grant, and launched Alux, an onchain lending protocol on Base Mainnet.