StandX DUSD

On StandX, an order-book perpetuals exchange live on BNB Chain and Solana, DUSD is the only currency the house will accept. Traders convert USDT or USDC into it before they can open a position, which makes the token the exchange's unit of account rather than a general-purpose dollar. It holds its peg through automated delta-neutral hedging on the collateral behind it, and it pays yield to holders automatically, with no staking or lockup required. StandX Issuer Ltd, a British Virgin Islands company, stands behind it, though it is unlicensed and supervised by no financial regulator. Redemption at par is open to onboarded users after full KYC, but US and UK persons are geo-blocked outright. Built by a team drawn from Binance's futures group and Goldman Sachs, DUSD is best understood as trading collateral that happens to earn, tightly bound to the venue that mints it.