Stablecoin Information
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
Category:crypto-backed
Minting and Redemption
USDX can be minted by approved entities who pass KYC/KYB screenings, using USDX.money contracts, where users deposit cryptocurrency as collateral and receive USDX, with corresponding short positions opened on derivatives exchanges to hedge the backing assets
Audits:
Stablecoins Usage by Chain
| Name | Bridge | |||||
|---|---|---|---|---|---|---|
| 0 | 528.47m | |||||
| 0 | 119.02m | |||||
| 0 | 35.95m |