USxD, the stablecoin of the Crypto Stock ecosystem

  • 21 January 2021
  • Author: Cryptostock

USxD is an ERC20 token issued by the Crypto Stock Foundation, and is a stablecoin pegged to the US dollar

As such, USxD is not affected by the volatility of the cryptocurrency and stock markets, so its value will be constant:

1 USxD = 1 USD

USxD is listed alongside Crypto Stocks, paired with each of them. This means that in order to trade Crypto Stocks it is necessary to have USxD. The exchanges that list Crypto Stocks allow you getting USxD by depositing Bitcoin or Ethereum

The supply is 18,000,000 tokens. This is not a random number, but one-thousandth of the total market cap of the Crypto Stocks initially issued by the foundation.

The formula that determines the supply of USxD is the following:

BTC + ETH + (Crypto Stock Market Cap * 0.001)

The supply may vary with the addition of new Crypto Stocks or may be reduced in the case of token burns. 

The future of the USxD stablecoin

USxD is an acronym that stands for United Stock Exchange Dollars. Its name is intended to unite two previously distant sectors, cryptocurrencies and stock indices. 

But the real heart of the USxD name lies in the letter X, which represents the word exchange. In this case, the term is used to indicate one of the Foundation’s goals, namely to make USxD an exchange medium not only for crypto stocks but also universal

The Crypto Stock Foundation envisions USxD as a competitive stablecoin in the cryptocurrency market, and is working to have it listed on both centralized and non-centralized exchanges, even separated from Crypto Stocks.

Moreover, since it has a perfectly stable value, there is nothing to prevent it from being used as a means of payment, the exchange par excellence. This is also one of the Foundation’s future goals. 

USxD is ultimately the evolution of the medium of exchange, towards something new, as new as the Crypto Stock ecosystem.