USX

USX is a US dollar-pegged stablecoin issued by Solstice Finance, a Solana-based yield protocol. According to its official website, USX is the settlement asset of the Solstice ecosystem and has an over-collateralized structure; the reserves consist of audited cash, tokenized US Treasury securities and delta-neutral hedged positions. The website states that the reserves are continuously verified using a method it calls accountable proof of solvency and that pricing relies on multiple data sources.

USX holders can deposit the token into Solstice's yield vaults and choose strategies with different risk profiles: these include eUSX, which reflects delta-neutral arbitrage yield, structured credit products and a credit facility aimed at artificial intelligence infrastructure. The project description on CoinGecko, however, states that USX is over-collateralized with stablecoins such as USDT and USDC; this text follows the current official website.

DefiLlama tracks the asset under the name Solstice USX. Because other projects use the same USX symbol, the correct asset should be identified by its Solana contract address. Holding part of the collateral in derivatives positions brings funding rate and counterparty risks. The USX value on Lzzo.com is DefiLlama's US dollar reference and is for information only.