imToken and Tokenlon Announce Their Support for USDx
Today, imToken, the world’s largest Ethereum wallet, and Tokenlon (built-in DEX of imToken), announce their support for USDx and various open finance solutions offered by dForce. This will allow imToken users to transact USDx on Tokenlon against ETH, USDT, USDC, TUSD, PAX and DAI, earn yields with USDx, or borrow USDx at a competitive rate.
Interest-Bearing Stablecoin USDx
USDx has been introduced by dForce as the first and cornerstone protocol, which is a decentralized and synthetic indexed stablecoin with interest bearing capability. USDx is pegged into a basket of constituent stablecoins (1 USDx = 0.3 USDC + 0.3 TUSD + 0.3 PAX + 0.1 DAI) at a pre-determined weighting, which can be adjusted via on-chain governance. USDx carries a number of benefits including interest-bearing capability (through Lendf.Me), simple and robust trust model, risk diversification to avoid single-point failure, multi-layer insurance mechanism, and decentralized governance.
Lending Market — Lendf.Me
Lendf.Me is a lending platform integrated with USDx，it is developed by dForce community, allowing USDx holders to earn compounded yields by supplying USDx to the protocol with instant withdrawal liquidity (subject to available amount of USDx in the pool). It also allows you to borrow USDx against ETH collateral and take advantage of the upside of ETH.
About imToken
imToken is the world’s largest Ethereum digital asset wallet, with millions of high net-worth users worldwide, access to 30,000 tokens and internationally recognized security features as a digital asset management tool. imToken 2.0 International introduces a number of new features including support for multi-chain wallet (Bitcoin assets), Tokenlon, and DApps.
Check out more about imToken
Website: https://token.im
Blog: https://medium.com/@imToken
Telegram: https://t.me/imTokenGroup
Twitter: @imTokenOfficial
Check out more about dForce
Published at Sat, 10 Aug 2019 16:22:18 +0000
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