> For the complete documentation index, see [llms.txt](https://docs.usx.capital/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.usx.capital/overview/usx-the-usd1-stablecoin.md). # USX: The $1 Stablecoin USX is a fully collateralized stablecoin designed to maintain a 1:1 peg with the US dollar. Built on Scroll, it's optimized for scalability, composability, and seamless DeFi integration. Users can hold, swap, and use USX across the Scroll ecosystem. ### USX vs sUSX: Feature Comparison | Feature | USX | sUSX | | ----------------- | -------------------------------------------- | ------------------------------------- | | **Peg** | 1 USX = 1 USDC (fixed) | Floating rate (appreciates over time) | | **Use Case** | Stable unit for payments, lending, borrowing | Yield-bearing savings token | | **Yield** | None (pegged to USD) | Up to 10% APY (auto-compounding) | | **Unstaking Fee** | 0% mint/redeem | 0.05% unstaking fee | | **Best For** | Stability and liquidity | Earning passive income | ### How USX Works #### Stable Peg Mechanism USX maintains its 1:1 peg to the US dollar through full collateralization by USDC. Every USX in circulation is backed by USDC reserves, ensuring the peg holds even during market volatility. #### Always Pegged to $1 USX itself does not generate yield because it's pegged to the US dollar. Its value remains constant at $1, making it ideal for: * Payments and transfers * Storing value without price risk * Using as a unit of account * Serving as collateral in lending protocols ### Redemption and Liquidity #### Two Paths to Exit #### Two Paths to Exit **Instant Swap: for regular users (via** [**Scroll Swap**](https://swap.scroll.io/swap)**)** * Duration: Immediate * Rate: Market price (typically near 1:1) * Use when: You need liquidity immediately * Best for: Most users **Direct Redemption: for institutional partners** * Duration: Up to 14 days * Rate: Exactly 1 USX = 1 USDC (guaranteed) * How to initiate: Email `usx_operation [at] scroll [dot] io` with your wallet address, redemption amount, and USDC receiving address * Best for: Large institutional redemptions #### High Liquidity USX is designed as a highly liquid stablecoin. Multiple trading pairs across Scroll DEXs ensure you can always find buyers or exit at fair market prices. ### Fees and Costs #### Minting and Redemption (USX ↔ USDC) * **Mint Fee:** 0% * **Redemption Fee:** 0% *(direct 1:1 redemption available for institutional partners only)* * **Swap Fees:** May apply when trading through DEXs (varies by exchange) #### When Upgrading to sUSX * **Staking Fee:** 0% (free to convert USX to sUSX) * **Unstaking Fee:** 0.05% (applied when converting sUSX back to USX) ### Earning Yield on USX #### Converting USX to sUSX USX itself doesn't generate yield. For users seeking stable returns, USX can be staked into sUSX, the yield-bearing version that automatically accrues yield from onchain strategies. #### How the Conversion Works 1. Hold or acquire USX 2. Stake USX for sUSX through the platform 3. sUSX value appreciates automatically (no additional action needed) 4. Unstake sUSX back to USX to realize your gains (plus 0.05% fee) #### The Yield Difference * **USX:** $1,000 stays $1,000 (principal protected) * **sUSX:** $1,000 can approximately become $1,100 after one year at up to 10% APY (principal + yield) *** ### Common Questions **Q: Is USX truly 1:1 with the dollar?** A: Yes, USX maintains a 1:1 peg with the US dollar. Institutional partners can redeem USX 1:1 for USDC directly (up to 14 days). Regular users can swap USX → USDC instantly via [Scroll Swap](https://swap.scroll.io/swap). **Q: Can I lose money holding USX?** A: No. USX is fully collateralized by USDC. You redeem 1:1 for your USDC back. **Q: What if I want yield, not stability?** A: Stake your USX for sUSX, which generates up to 10% APY. You can always unstake back to USX. **Q: How is USX different from USDC?** A: USX is built on Scroll with lower fees, deep ecosystem integration, and the ability to earn yield through sUSX. USDC is a stablecoin on multiple chains with no yield. **Q: Are there fees for holding USX?** A: No ongoing holding fees. Only swap fees (when trading). **Q: Can I use USX as collateral?** A: Yes, USX is accepted as collateral on Honeypop (Scroll's native money market) and other DeFi protocols. **Q: What's the difference between 1:1 redemption and swap?** A: Direct 1:1 redemption (up to 14 days, guaranteed $1 per USX) is available for institutional partners only. Swaps via [Scroll Swap](https://swap.scroll.io/swap) are instant at market price and available to all users. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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