NXUSD is a crypto-backed US dollar stablecoin. It has about $7.8M in circulation, ranking #142 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is NXUSD?
NXUSD is a crypto-backed US dollar stablecoin. It has about $7.8M in circulation, ranking #142 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: NXUSD is an over-collateralized USD-pegged stablecoin minted by Nereus Finance.
NXUSD supply history
NXUSD supply grew 0.1% over the past 30 days, to $7.8M. Its peak was $9.2M in April 2023, and supply is 16% below that high.
Is NXUSD holding its peg?
NXUSD is trading more than 2% above its target. That can happen when supply is scarce or redemptions are paused, or because the token accrues value. Check the issuer's documentation.
Where NXUSD lives: supply by blockchain
Supply is concentrated: Avalanche holds 100% of all NXUSD. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How NXUSD is backed
NXUSD 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: Collateral tokens are deposited on Nereus Finance.A debt allocation is assigned to the borrower with ZERO INTEREST, plus an origination fee of 0.5% is charged.NXUSD tokens are deposited into the borrower's wallet.
Reserve reports and audits: docs.nereus.finance
NXUSD 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.
With $7.8M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
NXUSD vs USDT and USDC
Similar crypto-backed stablecoins
See all →
NXUSD FAQ
What is NXUSD?
NXUSD is a crypto-backed US dollar stablecoin. It has about $7.8M in circulation, ranking #142 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is NXUSD pegged 1:1 to the US dollar?
NXUSD targets 1 USD. At the last update it traded at $1.0220, a deviation of +2.20%, which we classify as "above peg".
What backs NXUSD?
NXUSD is a crypto-backed stablecoin. NXUSD 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 NXUSD on?
NXUSD is live on 1 blockchain. The largest by supply are Avalanche ($7.0M).
How much NXUSD is in circulation?
About $7.8M of NXUSD was in circulation at the last update, +0.1% over 30 days. That makes it the #142 stablecoin by supply among those we track.
Is NXUSD safe?
No stablecoin is risk-free. As a crypto-backed design, NXUSD'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. Its supply is small, so liquidity can be thin. It currently shows "above peg" on our peg monitor. This page is information, not investment advice.