Cod3x USD (cdxUSD) is a crypto-backed US dollar stablecoin. It has about $1.1M in circulation, ranking #214 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is cdxUSD?
Cod3x USD (cdxUSD) is a crypto-backed US dollar stablecoin. It has about $1.1M in circulation, ranking #214 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: cdxUSD is an overcollateralized CDP stablecoin native to the Cod3x ecosystem, pegged to the US Dollar and minted against crypto collateral in the Cod3x lending markets.
cdxUSD supply history
cdxUSD supply was flat over the past 30 days. It is at or near its all-time high.
Is cdxUSD holding its peg?
cdxUSD is trading more than 2% below its target, so treat it as depegged. Check the issuer's announcements and redemption status before acting.
Where cdxUSD lives: supply by blockchain
Supply is concentrated: Base holds 100% of all cdxUSD. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How cdxUSD is backed
cdxUSD 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: Users deposit crypto collateral to mint cdxUSD and repay cdxUSD to redeem their collateral.
cdxUSD 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 $1.1M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
At the last update cdxUSD traded at $0.1769 against a target of 1.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
cdxUSD vs USDT and USDC
Similar crypto-backed stablecoins
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cdxUSD FAQ
What is cdxUSD?
Cod3x USD (cdxUSD) is a crypto-backed US dollar stablecoin. It has about $1.1M in circulation, ranking #214 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is cdxUSD pegged 1:1 to the US dollar?
cdxUSD targets 1 USD. At the last update it traded at $0.1769, a deviation of -82.31%, which we classify as "depegged".
What backs cdxUSD?
cdxUSD is a crypto-backed stablecoin. cdxUSD 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 cdxUSD on?
cdxUSD is live on 1 blockchain. The largest by supply are Base ($6.2M).
How much cdxUSD is in circulation?
About $1.1M of cdxUSD was in circulation at the last update, 0.0% over 30 days. That makes it the #214 stablecoin by supply among those we track.
Is cdxUSD safe?
No stablecoin is risk-free. As a crypto-backed design, cdxUSD'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 "depegged" on our peg monitor. This page is information, not investment advice.