CandleFocus Carrot Swap launches xUSD, a USDC- and USDT-backed stablecoin, on Neo X
2024-09-23
Author: Content Editor
Carrot Swap has launched its stablecoin, xUSD, on Neo X, which is backed by USDC and USDT on other blockchain networks. The cross-chain bridge has successfully processed over 50,000 transactions and is a fork of ZetaChain's mechanism. Each xUSD token is collateralized 1:1 by the underlying asset and can be redeemed for USDT or USDC on supported cross-chain networks. If there is not enough liquidity of the chosen stablecoin, Carrot Swap provides alternatives to fulfill the redemption. Carrot Swap is an AMM-based non-custodial exchange that offers cross-chain bridging, swapping, and liquidity pool provision.
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