FAQ

Is this a stablecoin?

No. USDx is the Axis Dollar, a synthetic dollar, not a stablecoin. It is dollar-denominated and backed by a portfolio of assets held by the protocol, but it is not a bank deposit, not an insured product, and not a conventional collateralized stablecoin. Its backing is an actively-managed trading portfolio, so USDx carries risk and can lose value, and it is not designed as a payments instrument. See What is USDx?.

Is this a hedge fund?

No. Axis is a protocol, not a fund. You are not buying an interest in a fund, a share class, or a managed account. You hold USDx, a synthetic dollar, and you can stake it for sUSDx to become eligible for rewards. There is no subscription, no fund interest, and no claim on a manager's book; you interact directly with onchain contracts. See What is Axis?.

Why should I care?

Global assets, crypto, commodities, tokenized equities, and increasingly traditional assets, trade across many venues, currencies, and jurisdictions, and that liquidity is fragmented. As more of the world's assets move onchain, someone has to make those markets and move liquidity to where it is needed. That is what Axis does. See Size of the Opportunity.

How do I use it?

Three steps:

1. Get USDx. Acquire USDx on the secondary market, or, if you are an approved counterparty, mint it directly on the USDx Primary Market.

2. Stake for sUSDx. Stake USDx to receive sUSDx and become eligible for the protocol's reward distributions, holding USDx alone earns nothing.

3. Earn rewards. sUSDx grows in USDx terms as rewards accrue, with no rebasing and no manual claim required.

See Stake & Unstake USDx.

What are the risks?

Participation can result in partial or total loss. USDx backing is an actively-managed trading portfolio exposed to market, liquidity, execution, funding, venue, counterparty, custody, smart contract, and operational risk, and delta-neutral does not mean risk-free. Read the Risk Overview and the Disclosures before interacting.

Who's behind it?

Axis is built by a team with years of experience across leading firms in trading, stablecoins, and onchain markets, including experience at Circle, Tether, Alphanonce, QCP, hedge funds, Ondo, yield protocols, and leading centralized and decentralized exchanges.

Where can I access it?

Access to Axis interfaces is restricted in Belarus, Cuba, the Democratic Republic of the Congo, Iran, Libya, Myanmar, North Korea, Russia, Somalia, South Sudan, Sudan, Syria, the United States, and Yemen. USDx and sUSDx are not offered to US persons. They are also not offered anywhere that offering them would be unlawful. Availability also depends on the interface or service used, the applicable terms, and local law. See Disclosures.

What can I do with USDx?

USDx is built for onchain use. Its reserves are actively managed to stay liquid, which supports its adoption across DeFi, building onchain liquidity, integrating with onchain oracles, and serving as collateral in DeFi lending markets. The goal is for USDx to be a productive, dollar-denominated building block wherever onchain markets need liquidity.

What is the opportunity?

Tokenized and capital markets are enormous, and as they grow they will be fragmented across venues, currencies, and jurisdictions. Someone has to provide the liquidity that ties those markets together and lets capital move to where demand is. That is the role Axis is built to fill. See Size of the Opportunity.

Who backs Axis?

Axis is backed by Galaxy, OKX, FalconX, CMT Digital, and Steakhouse.