Fathom Dollar

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Fathom Dollar (FXD) is a decentralized stable-price cryptocurrency introduced in 2023 on the XDC Network by Fathom DAO. FXD maintains a stable value around 1.007 USD, using an over-collateralized model with XDC tokens secured in smart-contract vaults to achieve its soft peg to the U.S. dollar. Designed to be a reliable medium of exchange, FXD benefits from the XDC Network’s low transaction fees, speed, and scalability, with none of its 2.7 million tokens currently in circulation. It's traded actively across 22 to 23 markets, with daily volumes reaching up to over $1 million. FXD targets trade finance gaps by providing direct investment access to MSMEs, fostering business growth and economic upliftment. Employing platforms like portal.tradefinex.org and fathom.fi, FXD ensures cost-effective capital access, contributing positively to financial ecosystems.

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FAQ

What is Fathom Dollar (FXD)?

Fathom Dollar (FXD) is a decentralized, stable-price cryptocurrency launched in 2023 by Fathom DAO on the XDC Network. It serves as a stable medium of exchange, maintaining a value of about 1.007 USD. FXD provides a stable financial tool, leveraging the XDC Network's low transaction costs, speed, and scalability.

How does Fathom Dollar (FXD) maintain its stable value?

FXD is an over-collateralized stablecoin pegged to the U.S. dollar. It achieves its stability through reserves of XDC tokens securely held in smart-contract vaults. The design ensures that FXD can maintain its approximate value of 1 USD, with minimal fluctuation, providing a reliable currency for transactions.

What are the benefits of using Fathom Dollar (FXD) compared to other stablecoins?

FXD benefits from the XDC Network’s fast transactions, low fees, and high security. As a stable like USDT, it offers users stable value with reduced transaction costs and increased access to capital, especially for MSMEs using platforms like portal.tradefinex.org and fathom.fi.

How does FXD support micro, small, and medium-sized enterprises (MSMEs)?

FXD addresses trade finance gaps for MSMEs by providing direct access to capital through blockchain-based solutions. This financing avenue is faster and more cost-effective, leveraging the XDC Network's capabilities. The FXD protocol fosters economic expansion and business growth for MSMEs across its trading platforms.

In what markets is Fathom Dollar (FXD) available?

Fathom Dollar (FXD) is actively traded on 22 to 23 markets, with a daily trading volume reaching up to $1 million. These market platforms provide liquidity and accessibility, allowing users to trade FXD efficiently.

What can I do if I experience issues with FXD transactions?

For any issues related to FXD transactions, users should first ensure they are using a supported platform like portal.tradefinex.org or fathom.fi. Consulting the platform's support resources is recommended for troubleshooting. Always ensure a secure internet connection and wallet setup to prevent transaction issues.

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