Stable Markets
We have tried creating a stable coin (USDX) for Ethereum that can earn rewards in ETH.
Project Description
We are creating a stable coin market for USD(named USDX). This will be backed by ETH on ethereum mainnet. Allows users to mint USDX with ETH, or conversely redeem ETH with USDX. It is designed to be stable and slow, instead of yield thirsty. Users can stake their USDX and earn ETH rewards from protocol fees. This is a stable coin for ETH bulls.
How it's Made
The main components of our DeFi protocol are: oracles, bonding curves, and staking. These things combined together hopefully create a strong and resilient stable coin. Staking and native rewards causes demand for the stable coin. The bonding curve and fees help deal with the deviations from the oracle (or real price).
