Centralized Exchange Default Swaps (CXDS) is a DeFi protocol designed to mitigate centralized-exchange deposit risk. Its smart-contract liquidity pools let buyers pay an upfront premium for default coverage and let sellers lock collateral in return for premiums. A seven-member Decision Board evaluates specified default conditions and determines whether covered collateral can be claimed. The white paper is marked as a draft and notes that CXDS has not undergone an audit.
