DescriptionUSX is a USD-pegged stablecoin by dForce with a dual model for minting - USX can be minted through Vault (single collateral & risk-isolated), or via borrowing from supported lending protocols (pool-based & multi-collateral & market-driven rates) directly.

Category:crypto-backed

Minting and RedemptionUsing the dForce Network app, users mint USX by depositing an accepted collateral asset into a vault. When the loan is repaid to retrieve the collateral, the paid back USX is burned. Users can borrow USX from whitelisted lending protocols which have had their USX liquidity issued algorithmically.