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USDX Money

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Category: DeFi

USDX Money

Stables Labs is the entity behind usdx.money, a secure and decentralized bankless synthetic stablecoin issuer with a mission to provide next-generation stablecoin infrastructure connecting Decentralized Finance (DeFi), Centralized Finance (CeFi), and Traditional Finance (TradFi). The protocol manages the issuance and redemption of USDX, a crypto-native, censorship-resistant, and scalable synthetic USD stablecoin. Stability is achieved through a delta-neutral hedging strategy, which reduces market volatility by establishing opposing investment positions. USDX is also a yield-bearing asset; users can stake it by depositing it into the StakedUSDX smart contract (built on the ERC4626 standard) to receive sUSDX and earn rewards from the funding and basis spread of the protocol's delta-hedging derivatives positions. While any user can acquire USDX in permissionless external liquidity pools, only approved and white-listed entities from eligible jurisdictions can directly mint and redeem it. The system operates with on-chain collateral, independent of traditional banking, and includes an insurance fund to protect the underlying collateral in periods of negative yield. The protocol is exposed to various risks, including smart contract, external platform, liquidity, custodial, counterparty, and market risks.
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Funding Rounds

Funding Round: Unknown
Funding Date: 1 Nov, 2024
Raised Amount: $45M

Investors