FLEXUSD is a crypto-backed US dollar stablecoin. It has about $166M in circulation, ranking #40 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
What is FLEXUSD?
FLEXUSD is a crypto-backed US dollar stablecoin. It has about $166M in circulation, ranking #40 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
In the issuer's words: flexUSD is a multi-yield bearing stablecoin on Ethereum and smartBCH.
FLEXUSD supply history
FLEXUSD supply was flat over the past 30 days. Its peak was $196M in July 2023, and supply is 15% below that high.
Is FLEXUSD holding its peg?
FLEXUSD is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where FLEXUSD lives: supply by blockchain
FLEXUSD is spread across several networks. The largest, Ethereum, holds 56% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How FLEXUSD is backed
FLEXUSD is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Minting and redemption: Using the CoinFLEX app, users swap USDC to mint flexUSD 1:1. flexUSD can be redeemed for USDC 1:1 at any time.
FLEXUSD risks
A sharp crash in the crypto collateral can outrun liquidations and leave the system under-backed.
Bugs, governance attacks or bad price feeds can drain collateral or trigger wrongful liquidations.
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
FLEXUSD vs USDT and USDC
Similar crypto-backed stablecoins
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FLEXUSD FAQ
What is FLEXUSD?
FLEXUSD is a crypto-backed US dollar stablecoin. It has about $166M in circulation, ranking #40 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
Is FLEXUSD pegged 1:1 to the US dollar?
FLEXUSD targets 1 USD. At the last update it traded at $0.9991, a deviation of -0.09%, which we classify as "on peg".
What backs FLEXUSD?
FLEXUSD is a crypto-backed stablecoin. FLEXUSD is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Which blockchains is FLEXUSD on?
FLEXUSD is live on 2 blockchains. The largest by supply are Ethereum ($92.6M), smartBCH ($73.8M).
How much FLEXUSD is in circulation?
About $166M of FLEXUSD was in circulation at the last update, 0.0% over 30 days. That makes it the #40 stablecoin by supply among those we track.
Is FLEXUSD safe?
No stablecoin is risk-free. As a crypto-backed design, FLEXUSD's main risks are falls in collateral value that outpace liquidations, smart-contract and oracle failures, and, for hedged designs, negative funding rates or exchange counterparty risk. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.