NOTE: A lot of focus on Flare here and not USDX as the native gas token

Hex Trust Group is launching USDX, the first native stablecoin on the Flare blockchain, aimed at enhancing stability and trust in the cryptocurrency space. Backed 1:1 by U.S. dollars and primarily held in short-term Treasury bills at tier-1 financial institutions, USDX offers reliability to its holders. Its integration with Flare facilitates innovative DeFi solutions, including lending and borrowing protocols.

In collaboration with Clearpool, USDX holders can participate in the USDX T-Pool, allowing them to earn yields and additional FLR rewards without lock-up periods. The stablecoin also plays a vital role in Flare’s FAsset system, enabling the use of non-smart contract tokens in DeFi through a trustless and over-collateralized framework. As USDX expands across multiple blockchains, it aims to diversify the stablecoin landscape and enhance the security and adoption of digital assets globally.

IntroductionOzUSD