USDX USDX

USDX is a stablecoin issued by Mountain Protocol. It is a regulated and permissionless yield-bearing stablecoin that aims to maintain a stable value around 1 USD. It offers superior yields compared to traditional alternatives like checking and savings accounts. Users can exchange their assets for USDX and eventually borrow against it on Hard Protocol with autonomous interest rates. The stability of USDX is achieved through a plan announced in April 2021, which gradually shifted the same amount of KAVA rewards from USDX minting to USDX supplying on Hard Protocol.

USDX is unique compared to other cryptocurrencies because it is a stablecoin, specifically designed to maintain a stable value of 1 USD. This stability is achieved through a combination of mechanisms, such as minting and burning of tokens based on demand, as well as collateralization with Kava's native token, KAVA. Additionally, USDX offers superior yields without additional risk, making it an attractive option for investors compared to traditional alternatives like checking and savings accounts.