StandX DUSD

StandX DUSD is a stablecoin issued by the StandX protocol, which focuses on perpetual futures, and aims to track the value of the US dollar. Users mint DUSD by depositing USDT. To keep the collateral unaffected by market direction, the project applies a delta-neutral strategy: deposited assets are directed into yield-generating positions such as liquid staking tokens and, at the same time, hedged against price risk with short positions opened in futures markets.

DUSD's yield comes from staking rewards and funding payments (funding rates) in futures markets and is distributed to holders through periodic on-chain snapshots; users do not need to lock the token separately for this. DUSD is also used as collateral on StandX's futures trading platform. DefiLlama classifies the token as a crypto-backed dollar stablecoin and tracks it on BNB Chain and Solana.

Delta-neutral models are exposed to factors such as funding rates turning negative, as well as counterparty and exchange risks; the dollar peg therefore needs to be read as a target. The DUSD price on Lzzo.com comes from DefiLlama reference data.