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 redeem USX for USDC at a guaranteed 1:1 ratio.
USX vs sUSX: Feature Comparison
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 15% 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
Direct Redemption (Guaranteed 1:1)
Duration: 14-day processing
Rate: Exactly 1 USX = 1 USDC
Use when: You want a guaranteed 1:1 price regardless of market conditions
Best for: Large redemptions or when speed isn't critical
Instant Swap (Through Liquidity Pools via Scroll Swap)
Duration: Immediate
Rate: Market price (typically near 1:1)
Use when: You need liquidity immediately
Best for: Smaller amounts or when instant access is important
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%
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
Hold or acquire USX
Stake USX for sUSX through the platform
sUSX value appreciates automatically (no additional action needed)
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 $1,150 after one year at up to 15% 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 and is fully redeemable 1:1 for USDC within 14 days.
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 15% 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: Redemption takes 14 days but guarantees exactly $1 per USX. Swaps are instant but use market prices (typically near $1).
Last updated