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xBacked

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Stablecoin · XBKD · Algorand

Decentralized stablecoin platform on Algorand.

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About

xBacked is a decentralized stablecoin protocol on Algorand, similar in design to MakerDAO. Users lock collateral (ALGO, goBTC, etc.) to mint the xUSD stablecoin. The protocol uses over-collateralization and liquidation auctions to maintain the peg.

Tags

stablecoinCDPdecentralizedxUSD
Brickwise summary

Maker-style decentralized stablecoin on Algorand. Mint xUSD against ALGO and other collateral.

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Brickwise is not affiliated with xBacked. Information is editorial research, not financial advice or endorsement.

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