xcDOT is an XC-20 token designed to follow the ERC-20 standards and is available for real-world use on Moonbeam. With the XC-20 upgrade, xcDOT now supports ERC-20 compatibility on Moonbeam, so current DOT holders can deposit their tokens on Moonbeam via the DApp and start using them in applications such as decentralized exchanges, liquid staking protocols, and lending or borrowing. This change became possible after XCM was rolled out on Polkadot, adding cross-chain functionality for the first time across all parachains.

Beyond Relay Chain features like staking, governance, and bonding for parachain crowdloans, DOT holders can also access the broader DeFi opportunities available on Moonbeam. As Polkadot’s capabilities expanded over time, DOT holders previously had a narrower set of options for how they could stake and use their tokens. By integrating xcDOT, users can transfer DOT faster and with less friction, then utilize it across an expanding set of DApps. xcDOT provides Polkadot supporters with additional ways to participate in the EVM-based ecosystem growing on Moonbeam.