Base: XSD Stablecoin
One of the safest stablecoins in the world
XSD is a USD-pegged Stablecoin, backed by USDT, USDC and BUSD. LendeXe has a reserve to support XSD, filled with USDT, USDC & BUSD. In case of any default in them, the protocol swaps them with other stablecoins instantly.
Benefits
- 100% feeless
- increased protection as it is backed (hedged) the top 3 stablecoins
- XSD has USDT, USDC & BUSD in its reserve. Even if one of them fails, LendeXe immediately swaps it with the 2 others. This substantially increases protection, even in case of major drops of the market or other disturbances.
XSD Use Cases
- Get a 1.5x loan against your LEXE (in form of XSD)
- Use XSD as collateral to borrow crypto
- XSD is a mean of value, as it is designed to hold its 1$ peg, so use it like you use your money
- XSD is listed on exchanges, so you can buy / sell it on the market
How to get XSD
- Use LEXE as collateral to get a 1,5x P2P loan from decentralized pool, in form of XSD (Ultimate Loan)
- Use XSD stabilizer directly to change your USDT, USDC and / or BUSD to XSD.
- Buy it on the market
Extension: XSD Stabilizer
What it does?
- Keeps the XSD stable at $1 (even if one of the backed assets fails)
- Changes USDC, USDT or BUSD to XSD and vice versa
Extension: Ultimate Loan
What it does?
- Anyone can lock their LEXE for a pre-set period to get a 1.5x loan from a decentralized pool, in the form of XSD.
- LendeXe provides this service by using its Reserve Factor to push XSD usage among LEXE holders.
- To see how a 1.5x P2P loan offers increased protection and stay stable, please read our Medium Article.
How does it work?
- Anyone can deposit USDT, USDC, or BUSD to mint XSD in 1:1 ratio.
- Anyone can burn XSD to get USDT, USDC, or BUSD in 1:1 ratio.
- In the stabilizer, XSD is always $1, independent from the market. We call this a Hard-Peg.
- The combination of the 3 mentioned points provides an arbitrage opportunity for anyone who helps keep the peg.
How does it work?
- Anyone can bring their LEXE and lock it for at least 3 months in the Ultimate Loan.
- At the end of the 3rd month, LendeXe locks an amount of its own USDT, USDC, BUSD, equal in value to the user’s LEXE.
- Now that users LEXE & LendeXe USDT, USDC, BUSD are locked, the Ultimate Loan mints an amount of XSD which is 1.5x the value of the users LEXE.
- Users can withdraw their 1.5x XSDP2P loan and use them as they wish.