X Libra USD

X-Libra USD is an innovative fully collateralized stablecoin that anchors the LPs of USDT and USDC, providing complete stability through automatic stabilization mechanisms and full collateralization.

Mint:

xUSD is an unrestricted stablecoin that can be minted without any restrictions on minting users. Any address can be minted using USDC or USDT, and the corresponding xUSD can be obtained immediately after minting, relying entirely on its own stabilization mechanism and collateral assets to ensure the stability of the currency value.

Burn:

The burn of xUSD is limited to the casting account, and the upper limit of the destruction limit is also equivalent to the casting limit of this account. This can prevent certain situations of destruction arbitrage and protect the rights and interests of casting users.

Basic mechanism:

During minting, the protocol converts the user's USDT or USDC into USDT/USDC's LP, and then provides the user with corresponding xUSD stablecoins based on the value of the LP. The burning process is the opposite of the minting process. The security of the protocol relies on the stability of two stablecoins (USDT,USDC). If one stablecoin loses its anchor, the protocol will use an emergency pause mechanism to release liquidity and ensure the security of assets in the protocol.