apxUSD

About apxUSD

APX USD is a decentralized stablecoin designed to maintain a stable value equal to the US Dollar and is the primary stable asset of the Apyx Finance ecosystem. Rather than getting its value by being mined or through proof-of-work, apxUSD gets its value through over-collateralized reserves held in trust. The concept behind apxUSD is simple: The collateral backing the stablecoin will be used to generate yield for the Apyx Finance project while simultaneously serving as a stable dollar-pegged medium of exchange for payments, DeFi transactions or treasury operations. Another benefit of apxUSD is that it will not be limited to a single blockchain; rather, it is built to function across multiple networks including Ethereum and other compatible chains. To create (mint) an apxUSD stablecoin, an individual must first deposit an accepted form of collateral into the protocol. The protocol will then utilize that collateral in order to provide a stable price for the apxUSD stablecoin and ensure that at any point in time the individual who minted the apxUSD will have a way to redeem their apxUSD stablecoin.