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Hex Trust launches USDX, the first native stablecoin on Flare, backed 1:1 by USD. USDX can be staked in Clearpool’s T-Pool for real-world yield without lock-ups. USDX aims to enhance Flare’s DeFi ecosystem, supporting lending and borrowing. Hong Kong-based digital asset custodian, Hex Trust Group, has launch ed USDX, the first native stable coin on the Flare network. The move by Hex Trust Group will bolster the decentralized finance (DeFi) ecosystem on Flare, a layer-1 blockchain tailored for data-intensive applications. USDX stablecoin by HT Digital Assets USDX, developed by HT Digital Assets, Hex Trust’s tokenization ecosystem, is a stablecoin backed 1:1 against the U.S. dollar or equivalently valued assets. The stablecoin’s reserves primarily consist of 1-3 month Treasury Bills, held securely by regulated tier-1 financial institutions, ensuring stability and trust in the stablecoin’s value. The stablecoin is designed to s...

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company. The Cosmos ecosystem has been gaining traction of late, partly due to its community’s decision to slash the inflation rate cap from 20% to 10% but also due to the growing adoption of DYDX, Celestia, and Kuji. Native issuance of USD Coin (USDC) via Noble and CCTP built on a Cosmos SDK chain has benefited the ecosystem. One beneficiary of growing interest in Cosmos could be Eclipse Fi, a multi-chain token launch protocol seeking to restore the reputation of a genre notorious for unfair allocations and pump-and-dump schemes. It aims to become the leading launch platform for the Cosmos ecosystem and up-and-coming EVM layer-2s. Thankfully, its aspirations are backed by Features that address the industry’s shortcomings.  Its strong ties with Cosmos-based decentralized exchange...