USDX (USDX) price, chart, coin profile and news

Find the latest USDX (USDX) price, coin profile, news and history to get you started with USDX trading and investing.

- $0.02 ( - 2.30%)

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What is USDX?

USDX is the US Dollar stablecoin native to the Kava ecosystem. The Kava ecosystem is composed of the Kava chain and associated Kava protocol that were developed using the Cosmos Tendermint Software Development Kit (SDK). Leveraging the interoperability of the Cosmos ecosystem, Kava was designed to be a hub for decentralised finance (DeFi). USDX was designed to be the native stablecoin within that ecosystem.

USDX can be minted by supplying cryptocurrency as collateral to the Kava Mint protocol. All cryptocurrency collateral must be overcollateralised. According to the Kava blog, this allows users to leverage existing cryptocurrency assets and free up liquidity while also protecting the Kava protocol. USDX is required when a user wishes to access the cryptocurrencies used as collateral. As described by Kava, USDX’s peg to $1 is ‘loose’. By design, there is no requirement for it to remain at $1. Instead, USDX’s peg is controlled by a range of market factors including increasing and decreasing APY rates, KAVA token incentives, and Kava’s Lending auction arbitrage. Some of these factors are heavily influenced by KAVA token holders, who are incentivised to keep the USDX peg as close to $1 as possible. The more stable USDX is, the more often the stablecoin will be used and, therefore, the less likely the KAVA token will be needed to stabilise prices. The KAVA token can be used as a lender of last resort if USDX collateral falls below requirements. USDX can be used for a wide range of applications within the KAVA ecosystem including decentralised loans, hedging, and earning further rewards.

USDX (USDX) is the 277th largest cryptocurrency in the world by market cap, valued at $101,442,876. The current price of USDX is $1.1210206, which is -2.152% lower than yesterday. Prices have ranged between $1.1665864 and $1.094219 over the past 24 hours. All prices are listed in Australian dollars (unless otherwise noted) and accurate as of May 28, 2022 01:05 UTC.

Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

USDX (USDX) price

Use our graph to track the performance of (USDX) over time.

USDX at a glance

Information last updated May 28, 2022 01:05 UTC.
Coin symbol USDX
Coin Marketcap AUD$101,442,876
Total USDX supply 126,703,975
Circulating USDX 126,688,222
Current price AUD$1.1210206
All time high AUD$7.63
All time high date November 21, 2020

USDX price performance over time

Historical prices compared with the price of $1.1210206.

1 hour -0.11%
24 hours -2.15%
7 days -1.01%
14 days 11.36%
30 days -18.22%
60 days -17.04%
200 days -18.81%
1 year 1.32%

Disclaimer: Cryptocurrencies, including USDX, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of USDX is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the USDX or any other cryptocurrency discussed.

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