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USDX [Kava]

USDX [Kava] USDX Price $ 0.817

Rank: 421

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Stablecoin

USDX Price

0.817
0.49%
(-$ 0.004)
Price Range
LowHigh
$ 0.813$ 0.824

General Info

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Tags (Sub-Categories):

#Token

Description

USDX is a decentralized and crypto-backed stablecoin issued by the Kava DeFi platform

USDX [Kava] (USDX) Chart

USDX [Kava] price Index provides the latest USDX price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.

USDX to USD Converter

USDX [Kava] (USDX)USDX

USDX Price Statistics

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Market Cap

$ 91.10M

Fully diluted value

FDV

$ 91.10M

ATH Market Cap

$ 176.97M

24 Trade Vol.

$ 296.18K


Vol. (24h) / MCap

0.00325

Total Supply

USDX 111,572,256

Circulating Supply

USDX 111.57M

(100% of Total Supply)

Listing Date

6 Nov 2020

All Time High

$ 1.09

16 Jun 2021


All Time Low

$ 0.474

11 May 2022


From ATH

25.3%

From ATL

72.2%

What is USDX [Kava] (USDX)?

USDX [KAVA] is an algorithmic stablecoin that is pegged 1:1 to the value of the U.S. dollar. It is created on and forms a crucial part of Kava. Kava is a blockchain-based DeFi protocol on which users can borrow and lend digital assets without having to resort to any traditional financial intermediaries. The platform also offers a suite of other financial services for investors and traders.

Kava has two tokens associated with the platform. KAVA is the native token of the blockchain and is used for network governance, security, and mechanical functions. USDX is the platform’s stablecoin. Users can lock digital assets on the platform and receive USDX in exchange.

Kava is built on Cosmos, however, it is interoperable with the Ethereum network via Co-Chains.

What are USDX [KAVA]’s key features and how does it work?

Kava platform participants can deposit cryptocurrencies into smart contracts on the Cosmos network. In return, loans are distributed in USDX. The platform uses Cosmos technology, namely the “zones” feature, in order to manage the cryptocurrencies it can accept as collateral. BTC, BNB, XRP, among others, are accepted and can be locked in exchange for USDX.

Anyone can use the platform to mint USDX with a digital asset. However, it is important to note that the minted USDX must be backed by over 100% USD value with any deposited collateral. However, due to volatility and risk, specific collateral ratios may differ depending on the underlying asset deposited. Using a greater amount of collateral will reduce the possibility of liquidation in the case of unstable and volatile markets.

The KAVA platform also offers a comprehensive rewards system. For example, participants are rewarded with KAVA in exchange for using the platform and minting USDX. The amount rewarded depends on the type of underlying collateral deposited, as well as how much USDX is minted overall. Essentially, users can leverage the functionality of the platform to self-issue loans to themselves and earn rewards for using the platform, without the need for a counter-party or a credit score.

What can USDX [KAVA] be used for?

USDX can be traded, sold and bought. It can be used much like any other stablecoin.

Where can you buy USDX [KAVA]?

USDX [KAVA] is available for trading on the following CEXs and DEXs listed here. The most popular platform with the highest liquidity is AscendEX. The price of USDX will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for USDX market price, please view the price charts on this page.

USDX [Kava] Price Today

USDX [Kava]'s current price is $ 0.817, it has dropped -0.49% over the past 24 hours.

USDX [Kava]'s All Time High (ATH) of $ 1.09 was reached on 16 Jun 2021, and is currently -25.3% down.

The current circulating supply of USDX [Kava] is 111.57 Million tokens, and the maximum supply of USDX is unlimited.

USDX [Kava]’s 24 hour trading volume is $ 296.18 Thousands.

USDX [Kava]'s current share of the entire cryptocurrency market is 0.00%, with a market capitalization of $ 91.10 Million.

You can find more details about USDX [Kava] on its official website and on the block explorer.

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