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Fairly launched partial-collateralized stablecoin.
XUSD is a pioneering stablecoin protocol combining partial-collateralization with algorithmic mechanisms, designed for decentralized and scalable digital money. Deployed on Ethereum, XUSD adjusts its collateral ratio dynamically: decreasing when trading above $1 and increasing when below to maintain stability. Governed by its community, XUSD aims for full decentralization with a multi-signature address managing future decisions via a timelock contract, though initial control is centralized for quicker emergency responses. Utilizing Uniswap and Chainlink oracles ensures reliable price feeds. The protocol features two tokens: the stable XUSD pegged close to $1, and the governance token XUS, which accrues fees and surplus value. XUSD's monetary policy borrows from Uniswap's market maker principles, providing real-time stabilization and arbitrage incentives. Emerging from the Babelfish protocol, XUSD represents a new approach in stablecoin architecture, with plans for future cross-chain expansions.
XUSD is a pioneering stablecoin protocol combining partial-collateralization with algorithmic mechanisms, designed for decentralized and scalable digital money. Deployed on Ethereum, XUSD adjusts its collateral ratio dynamically: decreasing when trading above $1 and increasing when below to maintain stability. Governed by its community, XUSD aims for full decentralization with a multi-signature address managing future decisions via a timelock contract, though initial control is centralized for quicker emergency responses. Utilizing Uniswap and Chainlink oracles ensures reliable price feeds. The protocol features two tokens: the stable XUSD pegged close to $1, and the governance token XUS, which accrues fees and surplus value. XUSD's monetary policy borrows from Uniswap's market maker principles, providing real-time stabilization and arbitrage incentives. Emerging from the Babelfish protocol, XUSD represents a new approach in stablecoin architecture, with plans for future cross-chain expansions.
The primary purpose of the XUSD protocol is to provide a decentralized, scalable, and algorithmic stablecoin solution. By combining partial-collateralization with algorithmic stabilization based on market pricing, XUSD aims to maintain a stable value around $1, serving as an alternative to fixed-supply digital assets like Bitcoin.
XUSD maintains value stability through a unique combination of collateralization and algorithmic adjustments. If XUSD trades above $1, the collateral ratio decreases, while if it trades below $1, the collateral ratio increases. This dynamic adjustment ensures that the stablecoin maintains its target value close to $1. The protocol uses on-chain oracles from Uniswap and Chainlink for accurate market pricing.
XUSD offers several advantages over traditional stablecoins by integrating a unique partial-collateralized and partial-algorithmic model. This allows for enhanced scalability and decentralization. It's governed by the community and leverages swap-based monetary principles inspired by Uniswap for real-time stabilization, offering an innovative approach to stablecoin design.
XUSD emphasizes community governance with a focus on decentralization and autonomy. Once stable, control of the protocol will be transferred to a multi-signature address and smart contracts set to a burn address, requiring community voting and execution through a timelock contract for decision-making, minimizing active management and ensuring decentralization.
XUSD is categorized as 'Algorithmic' because part of its supply management relies on algorithmic mechanisms, adjusting collateral ratios based on XUSD's market price. This algorithmic approach helps stabilize the coin's value, providing efficient, real-time adjustments to maintain its stability independent of full collateral backing.
If users notice a discrepancy in the XUSD price, it's essential to check the real-time data provided by the protocol's on-chain oracles, Uniswap and Chainlink. These oracles ensure accurate price feed integration. Users can also participate in governance if systematic issues arise, contributing to protocol adjustments through community voting.
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