Dollars USDX price:

How to buy Dollars? How can I buy the Dollars coin? Dollars stock how to buy? How to get Dollars?

To find out where you can buy currency Dollars see the list of available exchanges.

Where to trade Dollars?

Click here to see the list of available exchanges for Dollars.

Dollars, identified by its symbol USDX, is a decentralized stablecoin engineered by Dollar Protocol, designed to maintain a stable peg to the US Dollar. As an integral component of the decentralized finance DeFi ecosystem, USDX aims to provide a reliable and censorship-resistant digital currency that can be used for various financial applications without the volatility commonly associated with other cryptocurrencies. The core mechanism behind USDX involves an over-collateralized algorithmic system. Users can mint USDX by depositing a basket of approved crypto assets, such as Ethereum or other established cryptocurrencies, into smart contracts. This over-collateralization ensures that the value of the deposited assets always exceeds the amount of USDX minted, providing a robust buffer against market fluctuations. Conversely, users can redeem their underlying collateral by burning USDX, thereby regulating the supply and demand to maintain the peg. Dollar Protocol incorporates dynamic economic incentives to stabilize the USDX peg. This includes mechanisms such as a Stability Fee for borrowing USDX and a Savings Rate for USDX holders, which encourage desired behaviors in response to market conditions. These adjustable fees and rates play a crucial role in balancing the supply and demand of USDX, helping it to remain close to its intended dollar value. The utility of USDX extends across numerous DeFi applications. It can be utilized for peer-to-peer payments, as a stable medium of exchange within decentralized exchanges, for lending and borrowing activities, and as a secure store of value during periods of market uncertainty. Being fully on-chain and governed by the community of USDX holders, the protocol is designed to be transparent and resistant to central control, embodying the principles of decentralization. Dollar Protocol seeks to establish USDX as a foundational element within the decentralized financial infrastructure, offering a robust, stable, and permissionless digital dollar alternative for a global user base.

Dollars is a token and it means it is a cryptocurrency, which based its activities on the blockchain of other cryptocurrencies such as Ethereum Blockchain or EOS Blockchain. Examples of Tokens: Chainlink, OmiseGo, 0x.

What is the value of Dollars coin?

1 Dollars is worth $0.692104.

To get price and historical data for Dollars coin, use API ID: usdx-dollars for endpoints at http://api.coinpaprika.com.