USDX
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Synthetix shifts focus to Base, while closing perps markets on Arbitrum
#Synthetix $SNX has announced the closure of its perps markets on #Arbitrum $ARB , transitioning to a "close-only" mode where new positions cannot be opened. This decision aligns with the project's strategic shift to focus on #Coinbase 's #Base network. As part of the change, Arbitrum's #USDx will be managed by the Synthetix Treasury, which is purchasing USDx from the market to maintain liquidity.
#Synthetix $SNX has announced the closure of its perps markets on #Arbitrum $ARB , transitioning to a "close-only" mode where new positions cannot be opened. This decision aligns with the project's strategic shift to focus on #Coinbase 's #Base network. As part of the change, Arbitrum's #USDx will be managed by the Synthetix Treasury, which is purchasing USDx from the market to maintain liquidity.
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#USDX built to support DeFi ecosystem growth: Hex Trust CEO A's
USDX by Hex Trust integrates DeFi with Flare Network, offering 1:1 USD backing, yield generation and crosschain capabilities.
The rising demand for a natively-issued, 1:1 dollar-backed asset in decentralized finance (DeFi) led to the creation of USDX, the first native stablecoin launched on Flare Network by HT Digital Assets.
Amid Markets in Crypto-Assets Regulation (MiCA)-induced compliance stress on Tether USDT$0.9985, Alessio Quaglini, co-founder and CEO of Hex Trust, explains in an interview with Cointelegraph how USDX aims to be a cornerstone stablecoin for DeFi applications.
USDX is fully backed by cash and cash equivalents, including short-term Treasury bills, and serves a dual purpose as both a stablecoin and gas token in the Flare ecosystem.
According to Quaglini, “USDX is the first native stablecoin on the blockchain for data, Flare, and is brought to life by HT Digital Assets, Hex Trust’s tokenization ecosystem.”
The Hex Trust CEO said that USDX will become a cornerstone stablecoin in DeFi with “aims to integrate further within DeFi applications” to become “a reliable asset for users.”
#USDX built to support DeFi ecosystem growth: Hex Trust CEO A's
USDX by Hex Trust integrates DeFi with Flare Network, offering 1:1 USD backing, yield generation and crosschain capabilities.
The rising demand for a natively-issued, 1:1 dollar-backed asset in decentralized finance (DeFi) led to the creation of USDX, the first native stablecoin launched on Flare Network by HT Digital Assets.
Amid Markets in Crypto-Assets Regulation (MiCA)-induced compliance stress on Tether USDT$0.9985, Alessio Quaglini, co-founder and CEO of Hex Trust, explains in an interview with Cointelegraph how USDX aims to be a cornerstone stablecoin for DeFi applications.
USDX is fully backed by cash and cash equivalents, including short-term Treasury bills, and serves a dual purpose as both a stablecoin and gas token in the Flare ecosystem.
According to Quaglini, “USDX is the first native stablecoin on the blockchain for data, Flare, and is brought to life by HT Digital Assets, Hex Trust’s tokenization ecosystem.”
The Hex Trust CEO said that USDX will become a cornerstone stablecoin in DeFi with “aims to integrate further within DeFi applications” to become “a reliable asset for users.”