UXD Stablecoin (UXD)

Market Cap$343,294

Price	$1.00

Issuance Stats
Total Circulating	342.27k

Optional Circulating Counts
Unreleased	0

DescriptionUXD Protocol is a fully collateralized decentralized stablecoin on Solana backed by delta-neutral position using derivatives.

Category:algorithmic

Minting and RedemptionUsing the UXD Protocol app, users mint UXD by depositing SOL into the protocol where it establishes a derivatives trading position on decentralized exchanges. When the loan is repaid to retrieve the collateral SOL, the paid back UXD is burned.