A Decentralized Stablecoin For Algorand

xBacked is a DAO building a decentralized, permissionless stablecoin backed by ALGO, xUSD.
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bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

About xBacked

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.


What does this mean?

Algorand as an ecosystem is culturally all for decentralization. The xBacked protocol brings a stable, decentralized, form of exchange to the ecosystem.

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

Why xBacked?

Traditional finance is issued in sovereign opaque currencies with significant costs, high barriers to entry and limited access. Transparent collateralised assets are needed to unlock equity and empower the digital economy.

● Transparently backed and over collateralised
● 0% interest borrowing

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

bring the decentralization

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

unlocking the unlockable

FAQs

What is xBacked?

Chevron
xBacked is a Distributed Autonomous Organization (DAO) building a decentralized, permissionless stablecoin on Algorand: xUSD. Unlike Tether or USDC, xUSD is backed by crypto assets (similar to DAI in Ethereum).

What is the interest rate?

Chevron
0% interest on minted debt, instead a fee is charged.

What collateral can I use?

Chevron
Currently, only ALGO.

What is the minimum collateral ratio?

Chevron
On vault creation, the collateral ratio must be 120%. Vaults are liquidated when they drop under 110%.

What is the minimum amount of collateral required to open a vault?

Chevron
$1000 USD.

Is xBacked a DAO?

Chevron
Yes, we are working towards a fully decentralized governance model.

Does xBacked have a bug bounty program?

Chevron
Absolutely, we will soon release documentation to participate in our bug bounty program.

The xBacked protocol will under go an audit prior to launching on main net. This does not guarantee a flawless protocol, and if you have found a vulnerability, please discretely contact the development team, @xbacked on twitter via DM or discord mods.

We will ensure those who disclose vulnerabilities to us are compensated well, because protecting users' funds is critical to our mission and maintaining trust within the ecosystem.

Join the xBacked community

– The xBacked community is growing. Join us to ask questions and stay informed.
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