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Conference Highlights – XUSD in CrossFi Ecosystem
Uruba Niazi

VP of Marketing - Content

29 May 2024
2 min read
0 comments

Phillip Alexeev, Chief Growth Officer at CrossFi, addressed the CrossFi Changes Everything 2024 conference in Vietnam to talk about the XUSD coin and its utility in the CrossFi ecosystem.

XUSD is our most important and innovative product. What is XUSD? XUSD is an over-collateralized, decentralized Crossfi native stablecoin. We have built XUSD to be one of the most robust solutions in the crypto space, intending to make it the number one stablecoin in the crypto industry.

What are the use cases for XUSD?

There are three main use cases: 

  • The first is for daily payments. You can send XUSD to each other as peer-to-peer payments. Alternatively, you can use XUSD within our flagship application to pay with it using either our virtual or physical cards that Alexander just demoed for you. 
  • The next use case, which is also quite interesting, is an arbitrage opportunity. You can lock your XFI; you can create XUSD. You can then trade XUSD for any number of tokens, generate profits, bring that back into XUSD, and then use that XUSD to unlock your XFI again. 
  • And then one of the most utilitarian use cases for XUSD is the crypto markets. The crypto market tends to fluctuate up and down. And so sometimes what you seek in your financial safety is something stable. And so by converting your tokens to XUSD, you can be sure that your tokens are not fluctuating up and down; they are staying consistent and safe from any market fluctuations, and so you can take some financial safety in that. 

 

How to get XUSD?

There are two main ways that you can get your hands on CrossUSD. 

  • The first is by minting it. All you have to do to mint XUSD is lock your XFI, and because it’s over-collateralized, remember you lock three times the amount of XFI required to generate one XUSD. Then you generate your XUSD; you can buy and sell different tokens with it, bring that back into XUSD, and then use the XUSD to unlock your XFI coins, effectively generating a profit. 
  • The other way to get XUSD is to swap any token into XUSD using the Xswap solution, which I will tell you about right now. So, not only are we building this revolutionary technology and making it super simple for you guys to get your hands on it, but we are also building real utility into the CrossFi ecosystem to take advantage of this extraordinary solution. 

We've built two utilitarian products for you: Xswap and Foland. Xswap allows you to take your XUSD, stake it in our liquidity pool, generate your liquidity pool token, and then generate revenue by holding it from all of the transactions on Xswap.

The other way you can get utility out of your XUSD is to stake it in Foland into our lending market and generate a percentage of all those transactions. Again, we're building amazing technology, making it super simple for you guys to get your hands on it, and giving you real-life utility.

"Vietnam is one of the most important communities in the CrossFi ecosystem, so the entire Crossfi team has traveled here today to be with you".

Phillip Alexeev

Chief Growth Officer

Phillip also announced that the new Foland app will be launched this year in Q3, and he looks forward to the public's access to it soon!

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