USDX Protocol
USDX Protocol
Token: USDX


The Ultimate Stage of Stablecoin

ICO dates
Start date:
End date:

Registrated in: Singapore

Platform: Ethereum
Type: ERC20

PREMIUM ICO

USDX Protocol categories
Cryptocurrency
USDX Protocol whitepaper
USDX Protocol token sale
KYC passing required Yes | Whitelist Yes | Restriction for countries No
Tokens for sale 3,000,000,000
Token distribution in ICO
30%
30%
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Random whitepaper excerpts

Abstract
USDX is committed to developing the third generation Stablecoin
ecosystem, to make the blockchain economy simpler and more conve-
nient and to become the backbone infrastructure of the future blockchain
economy.
Cryptocurrencies’ rapid rise and promising future has attracted
great attention from speculators and, increasingly, from Wall Street. There
are rising expectations among academics and investors that virtual cur-
rencies will revolutionize the current financial system. However, the
high volatility associated with traditional cryptocurrencies like bitcoin
has crippled their adoption as a public medium of exchange.
Stablecoin was invented to solve the high volatility problem of tra-
ditional cryptocurrencies. It is a special type of cryptocurrency that has
its valued pegged to an index-most typically, the equivalent of one US
dollar.
The first generation of Stablecoin, represented by Tether, relies on a
centralized and collateral-based model where, in t...

Contents
1 Introduction:
The rise of stablecoins . . . . . . . . . . . . . . . . . . . . . . . 4
2 Why do we need stablecoin? . . . . . . . . . . . . . . . . . . . . 4
2.1 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2.2 Freedom . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
2.3 Ecosystem . . . . . . . . . . . . . . . . . . . . . . . . . . 6
3 The evolution of stablecoin in three generations . . . . . . . . . 7
3.1 Collateral-backed IOU . . . . . . . . . . . . . . . . . . . . 7
3.2 Collateral on blockchain . . . . . . . . . . . . . . . . . . 8
3.3 Elastic monetary policy based . . . . . . . . . . . . . . . 8
4 What is USDX? . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
4.1 Phase 1: Genesis . . . . . . . . . . . . . . . . . . . . . . 9
4.2 Phase 2: Stable . . . . . . . . . . . . . . . . . . . . . . . 9
5 USDY’s self-rebalancing mechanism . . . . . . . . . . . . . . . . 11
5.1 The economics of price stability . . . . . . . . . . . . . . 12...

1. Introduction:
The rise of stablecoins
Volatility has almost been a synonym of cryptocurrency and market par-
ticipants have become accustomed to the double-digit intraday percentage
fluctuation. For example, the price of Bitcoin surged from about $7,000 to
$20,000 in the last two months of 2017
1
. Cryptocurrencies today are treated
more like ’digital gold’ for speculation rather than as a medium of exchange.
It’s not just about making or losing money in the market-users of cryptocur-
rencies must endure large price swings even when they do not wish to take
an exposure.
When exchanges or individuals make a transaction in Bitcoin, they must
accept the delays caused by distributed bookkeeping. It usually takes hours to
fully confirm the transaction and the price will typically change dramatically
during the same period. This makes it challenging to conduct any business
with Bitcoin. After all: what kind of business would pay suppliers in a cur-
rency wit...

fee between crypto and fiat currency is k, and the handling fee between two
cryptocurrencies is negligible. In the first case, with the help of Stablecoin,
user pays a 2,000*k handling fee. In the second case, without Stablecoin, the
user will have to pay a handling fee of 14,000*k, which is seven times worse.
K can reach 5% in some Asian countries due to tight regulations.
Stablecoin is also an ideal candidate for the payment of various decentralized
applications. The token issued by a decentralized application is similar to the
stock of a company with price fluctuation dependent on the decentralized
application/company’s success and popularity, therefore meaning it is not
suitable for general purpose payment. For users, having a token that can
be used for different applications is much more convenient than having one
token for each application. Stablecoin can be used as a medium of exchange
to meet the payment needs of any decentralized application.
2.2. Freedom
We believe ther...

of coins and tokens, and one of the most important applications is that cryp-
tocurrency helps them to exchange and store their wealth with great freedom.
In a country with foreign exchange control, the government manages
both the flow of capital and the flow of information. The flow of capital is easy
to manage in a country with capital control because even sophisticated hedge
funds cannot move money in and out of the country at their will. However,
governments often lack an efficient method to regulate the flow of information;
more than a third of the employees in the financial and internet sectors acquire
information through the use of VPNs, despite government warnings against
the move.
Cryptocurrency effectively reduces the difficulty of capital movement to
the same level as movement of information.
Enabling wealth to circulate as easily as information is one of the major mis-
sions of cryptocurrency. And ultimately, cryptocurrency will depend on peo-
ple who value its appl...

equity in Space X.
As Stablecoin gains momentum, the user base will broaden and a large
amount of data will be collected, which will lead to exciting new business
models. Because the community is open to all, it will inspire the imagination
and creativity of teams around the world. To accelerate this process, we will
incubate, invest and collaborate with other companies on different projects,
develop various virtual assets and create a truly decentralized, virtual world
with enormous economic value.
3. The evolution of stablecoin in
three generations
After studying the present and the past of Stablecoin, we put forward
the evolution logic of ’three generations’. History suggests that the third
generation Stablecoin will be the final form of Stablecoin.
Collateral-backed IOU
Tether/Sweetbridge/Arccy
Collateral-backed on blockchain Maker/Havven/Augmint/BitShares
Elastic monetary supply based Basecoin/Fragments/Carbon/Kowala
3.1. Collateral-backed IOU
The...

If Tether oversupplies USDT, all the holders will suffer the dire consequences.
Regulatory risk refers to the fact that, since any legal currency Tether
collects can only be placed in a bank account, Tether’s bank account could be
frozen at any time by regulators for reasons such as Anti-Money Laundering
(AML)
2
.
Tether refused to cooperate with accountants and did not provide suffi-
cient data for annual auditing, which led to the accounting firm cutting off
all ties with the company, and the market’s confidence in USDT was shaken.
In addition, some analysts pointed out that when the price of Bitcoin falls, a
large quantity of USDT is usually issued, questioning whether they are simply
’printed’ without collateral. Regulatory risk has emerged and, according to
Tether officials, a Taiwanese account has been frozen.
As these events have demonstrated, the root cause of all Tether’s contro-
versies is ’centralization’, since it is the only entity overseeing the ...

through an ’Algorithmic central bank’ that automatically expands and con-
tracts the supply of tokens. In the early days, it might have taken some time
for people to comprehend the complexity of the mechanism and fluctuation
of exchange rate, similar to people’s reaction to Bitcoin’s value proposition in
2010, but when market liquidity reaches a certain threshold, the algorithm-
based decision-making principles will be perceived as ultra-effective. Most
importantly, there is no systematic risk like moral hazard or volatile collateral
value that comes with a collateral-based system, so once the critical point of
market liquidity has been reached, the Stablecoin will become just as well
recognized as BTC and possess eternal legitimacy.
Due to the superior properties of third generation Stablecoin, numerous
companies are trying to create their version of third generation Stablecoin,
and the most outstanding of all is USDX.
Our vision is to create a Stablecoin that has fast transaction ...

USDX Protocol Roadmap

1
Q1, 2018
Stablecoin Begins. Setting up foundation in Singapore.Setting up community.
2
Q2, 2018
Setting up USDX fund. Expanding community scale. Starting to develop an independent public blockchain.

3
Q3, 2018
Setting up foundation branch in Korea. Landing on the Korean market.
4
Q4, 2018
Introducing protocol of main function on the independent public blockchain.
5
Q1, 2019
The Dark Knight. The test network being released.
6
Q2, 2019
Launching public chain mUSDY generation.
7
Q3, 2019
Building D-apps developer dplatform. Launching D-wallet.
8
Q4, 2018
Establishing an institution about making traditional assets
up to the blockchain.
9
Q1,2020
The Dark Knight Rises.Improving the protocol performance.

10
Q2, 2020
Enriching the D-apps.Improving the speed of network.
11
Q3, 2020
Improving the scale and security and preparing for a broader ecosystem.
12
Q4, 2020
Establishing the decentralized exchanges. Enriching Stablecoins pegging to other indexes.
Richard Tiutiun
Richard Tiutiun Chief Technology Officer

Dennis S. Lee
Dennis S. Lee Chief Strategy Officer

Nina Ni
Nina Ni Chief Public Relation Officer

Simon Nie
Simon Nie Lead Engineer

Vincent Deng
Vincent Deng Engineer

Sam Lee
Sam Lee Engineer

Julie He
Julie He Legal Intern

Xiahong Lin
Advisors Xiahong Lin Founder of Bodhi

Alan Wunsche
Advisors Alan Wunsche CEO of TokenFunder

Patrick Dai
Advisors Patrick Dai Founder of Qtum

Patrick Dai
Patrick Dai
Founder of Qtum
Co-Founder
Founder of QTUM Blockchain
Investor and Project Advisor
Sam Lee
Sam Lee
Engineer
Director of Research Strategic Coin
Sea Country Manager
Director of Research Strategic Coin
VP of Hardware
Xiahong Lin
Xiahong Lin
Founder of Bodhi
Project Lead & Founder