USDX

USDX is the Nexus Exchange's native margin and quote currency, pegged 1:1 to the US dollar. Every market on the Exchange is denominated and margined in USDX, so traders hold a single collateral asset across spot and perpetual futures.

What makes USDX different

• Yield on idle capital. USDX earns yield from US Treasury bills on balances that aren't actively deployed — not from new token issuance or inflationary rewards.
• An exchange primitive. USDX exists to make the Exchange work well for traders: one unified collateral and quote asset, composable with the EVM ecosystem on the Nexus blockchain.
• Backed and pegged 1:1 to USD.

What USDX is not

USDX is not a standalone DeFi stablecoin protocol or a yield product. It is the collateral and quote layer of the Exchange.

Learn more

USDX backs every position on the Exchange — see Margining for how collateral and leverage work, and Quickstart to fund an account and place your first order.