This product is still under development.
The current stablecoin landscape, with a market cap of over $120 billion, is dichotomous, with one end of the spectrum filled with fully centralized stablecoins backed by cash or cash equivalents (USDC) and the other end filled with fully decentralized stablecoins that are either algorithmic (RAI, OHM) or backed by collateral as defined in a protocol (DAI, LUSD).
The CelsiusX actively managed stablecoin employs a novel approach that uses transparent, auditable vaults containing crypto assets that are overcollateralized to mint a CelsiusX stablecoin (cxUSD). The CelsiusX stablecoin (cxUSD) will provide a transparent, auditable, and efficient new stablecoin into the DeFi ecosystem to complement existing solutions like fiat backed stablecoins (USDC) and algorithmic, decentralized stablecoins (DAI, OHM). cxUSD will combine transparency, by way of a visible collateral manager, with dynamically collateralizing Celsius’s large asset base to create a more accessible stablecoin to the DeFi ecosystem and for Celsius users.
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