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USDx has been introduced by dForce as the first and cornerstone protocol, which is a decentralized and synthetic indexed stablecoin with interest bearing capability. USDx is pegged into a basket of constituent stablecoins (1 USDx = 0.35 USDC + 0.35 PAX + 0.3 TUSD ) at a pre-determined weighting, which can be adjusted via on-chain governance. USDx carries a number of benefits including interest-bearing capability (through Lendf.Me), simple and robust trust model, risk diversification to avoid single-point failure, multi-layer insurance mechanism, and decentralized governance.
Highlight of USDx:
- Risk Diversification
- Multi-Layer Insurance Mechanism
- Decentralized Governance
- OTC Service in RMB and USD
Token Status and Distribution
Features: Our design goals for USDx is to make the right trade-off to deal with the stablecoin trilemma of stability, scalability and fungibility (fiat-back fail on fungibility and are unable to create fully permission-less, decentralized, censorship-resistant and programmable protocol, while over-collateralized stablecoins, like DAI, have been struggling to maintain $1 peg.)