👋Meet USDX
A Synthetic USD stablecoin
USDX is a synthetic USD stablecoin built for the Bitcoin and wider blockchain ecosystem. It offers a crypto-native stablecoin solution that do not rely on traditional banking infrastructure which is censorship-resistant, scalable, and highly stable. Furthermore, it provides a savings tool accessible worldwide in USD denomination.
USDX will ensure the stability of the peg through a delta-neutral portfolio strategy. At the same time, it will provide denominated returns to holders or ecosystem participants of USDX.
Tokens
USDX
USDX is a synthetic USD stablecoin that takes on forms of BTC as backing, combined with short BTC hedges on exchanges to achieve a delta neutral approximate dollar position. This token will be the focal point of liquidity provision in AMMs and CEX order books.
USDX peg stability is maintained by employing delta hedging strategies with derivatives positions, counterbalanced against collateral held by the protocol.
sUSDX (staked USDX)
sUSDX is the token representing staked USDX. Users are able to receive a portion of the protocol's generated yield by staking their USDX and receiving sUSDX atomically in return. USDX that is staked is not rehypothecated or otherwise utilized to independently generate the value accrual for sUSDX.
sUSDX is a reward-bearing token, similar to cbETH and rETH, meaning its value appreciates instead of its quantity increasing. This is unlike stETH, which modifies its total supply via rebasing.
Features
Permissionless Acquire USDX.
Bny or sell USDX with stablecoin such as USDT or USDC.
Stake & Unstake USDX for sUSDX.
Receive a proportionate share of the generated yield.
Add USDX Liquidity Pool & Lock LP Tokens.
Earn points rewards and claim tokens in the future.
Direct Mint USDX.
Deposit Bitcoin as collateral and receive USDX, upon successful completion of KYC / KYB verification for market-making counterparts.
Direct Redeem USDX.
Deposit USDX and receive Bitcoin, upon successful completion of KYC / KYB verification for market-making counterparts.
Official Links
Website: https://usdx.money
Twitter: https://twitter.com/usdx_money
Telegram: https://t.me/USDX_Community
Discord: https://discord.gg/usdxmoney
Docs: https://docs.usdx.money
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