xbacked
xbacked is a makers of decentralized stable assets on #Algorand.
All edits by ALEKSANDR ISAEV
Edits on 15 Mar, 2022
ALEKSANDR ISAEV
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Any other token ID or Application ID Claiming to be xBacked is a scam
X Governance Token:
xUSD: Not launched yet
Vault Contracts: not launched yet
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ALEKSANDR ISAEV
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Article (+411 characters)
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xBacked is building a decentralized, permissionless stablecoin on Algorand, fully backed by crypto assets instead of centralized assets. No central entity controls the issuance of xUSD and other tokens the xBacked protocol might build in the future. Using Collateralized Debt Positions (CDPs), the xBacked protocol ensures that all xUSD minted is backed by more than $1 in underlying collateral in the protocol.
ALEKSANDR ISAEV
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