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UXD Protocol is an algorithmic stablecoin backed 100% by a delta-neutral position using perpetual swaps. The protocol intends on solving the stablecoin trilemma, which is decentralization, stability, and capital efficiency. Current stablecoin iterations can only achieve 2 out of 3. The UXD intends on creating a stablecoin that achieves all 3.
UXP token holders will be able to vote on proposals that increase the value of UXD Protocol. Cash flow from the delta-neutral position can be distributed to UXP token holders. (This has to be decided by a vote by UXP token holders). UXP tokens will be the last reserve to back the insurance fund, if the insurance fund runs out of funds.