UXD is a fully collateralized decentralized stablecoin backed by delta-neutral position using derivatives. UXD is issued on Solana, an incredibly fast, cheap, and permissionless blockchain. UXD is a next-generation decentralized stablecoin that integrates with top derivative trading exchanges on Solana in order to create a "delta-neutral" position that collateralizes the stablecoin.

How does UXD differ from "algorithmic" stablecoins?

• Stable: UXD is pegged to the US dollar using derivatives. Since it is backed 100% (meaning fully collateralized) by a delta-neutral position, users will always be able to redeem 1 UXD for 1 USD worth of assets
• Decentralized: UXD Protocol is non-custodial, and does not hold user's deposited crypto assets. Users can mint/redeem UXD on a permissionless basis
• Capital Efficient: Unlike many popular stablecoins that require more than $1 of crypto assets (sometimes $1.50+ of assets) to mint $1 of a stablecoin, UXD users can mint 1 UXD for $1 worth of crypto assets. UXD does not require any over-collateralization.