Enable sUSDX/USDX (0.05% fee tier) V3 gauge on BNB Chain

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Overview

  • Proposal seeks to enable sUSDX/USDX (0.05% fee tier) V3 gauge on BNB Chain

Background

  • usdx.money is a stablecoin infrastructure project, with USDX as its first product. USDX is a synthetic stablecoin, designed to offer a stable, censorship-resistant, crypto-native money. USDX captures yield from crypto-native sources and distributes it back to its users. Yield for USDX stakers is currently at 51%.
  • usdx.money has recently launched its points campaign, and expects the TVL to rapidly increase. With increased TVL, usdx.money is committed to building robust liquidity for sUSDX/USDX pair on BNB Chain and on Pancakeswap to facilitate secondary liquidity for sUSDX. Gauge for USDT/USDX stablecoinswap recently went live on Panckaeswap. This will help onboard more users to both usdx.money and Pancakeswap.

Details

  1. Boost Multiplier and Emission Cap %: 1.00x boost multiplier, 0.5% emission cap
  2. Audits: link
  3. Token Utility: USDX is a synthetic stablecoin, designed to be a stable, censorship-resistant, crypto-native money. By staking USDX, users receive sUSDX, which captures yield from crypto-native sources and distributes it back to its users.
  4. Volatility: USDX has not previously de-pegged, and sUSDX is an ERC4626 token.
  5. Oracles: No oracles are used for this pool
  6. Control: 0x3f9a06aD4c83c289DF83461fE5F24EE4c4491935 (3 out of 4 multisig)
  7. Merit: USDX currently has $180m in TVL, making it the 8th largest protocol by TVL on BNB Chain. PancakeSwap’s sUSDX/USDX pool will be the main liquidity venue for sUSDX, and with attractive native yields and on-going points campaign, users will seek to gain exposure to sUSDX via PancakeSwap, or quickly exit their positions via secondary liquidity.

Links

  1. Token address: 0x7788A3538C5fc7F9c7C8A74EAC4c898fC8d87d92
  2. Liquidity pool address: 0xaBE8AD63400ccCb1036680F300576F605e1e6CD1
  3. Website: https://usdx.money/
  4. Socials: X, Telegram, Discord
  5. Documentation: https://docs.usdx.money/
  6. Github: USDX Token · GitHub
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Thank you for your application! The Kitchen has enabled the sUSDX/USDX (0.05% fee tier) V3 gauge on BNB Chain with 1x boost multiplier and 0.5% emissions cap.