dForce USD

dForce USD, which trades under the ticker USX, is an omnichain crypto-collateralized dollar that the protocol mints natively on nine networks, from Ethereum and Arbitrum to BNB Chain, Polygon, Avalanche and Kava. A holder can create it two ways: through a single-collateral, risk-isolated vault, or by borrowing it against deposits in dForce's lending markets at market-driven rates. Either way the token is a claim redeemed through the smart contracts, over-collateralized by crypto rather than backed by a company's cash, and governed by holders of the DF token with no legal issuer standing behind it. Protocol-controlled liquidity and cross-chain bridging let USX move between its chains with little friction. It is a long-running DeFi stablecoin rather than a headline name, and its stability depends on the quality of its collateral and the soundness of the lending markets it is minted from.