Cryptocurrency Q&A
Is XDC a stable coin?
Is XDC a stable coin?
Eleonora
Sat Jun 29 2024
|
5 answers
836
In the realm of cryptocurrencies and finance, the question of whether XDC qualifies as a stable coin is a pertinent one. Stablecoins are designed to maintain a stable value, often pegged to a fiat currency or a commodity like gold. Given the volatile nature of cryptocurrencies, stability is a significant factor for investors and traders alike. Could you elaborate on the underlying mechanism and factors that influence the stability of XDC? Specifically, are there any established mechanisms, such as reserve assets or algorithmic adjustments, that XDC employs to maintain its stability? Clarifying these details would be instrumental in assessing whether XDC can indeed be categorized as a stable coin.
5 answers
Daniele
Sun Jun 30 2024
The XDC Network serves as a foundational platform for various stablecoins, such as the Fathom Dollar (FXD) and STASIS (EURS).
Was this helpful?
203
62
Dario
Sun Jun 30 2024
BTCC, a leading UK-based cryptocurrency exchange, offers a comprehensive range of services to its customers. These include spot trading, futures trading, and wallet solutions, among others. BTCC's robust platform caters to the needs of both individual and institutional investors.
Was this helpful?
106
41
Maria
Sun Jun 30 2024
Specifically, the Fathom Dollar, represented by FXD, is a stablecoin that maintains a peg to the U.S. dollar. This stability is achieved through the utilization of over-collateralized XDC Tokens as a backing mechanism.
Was this helpful?
265
81
amelia_doe_explorer
Sun Jun 30 2024
The Fathom Vault, a crucial component of the Fathom Dollar ecosystem, enables users to earn Real World Asset (RWA) yield by depositing their FXD tokens. This feature adds value to holders of the stablecoin.
Was this helpful?
130
83
Martino
Sun Jun 30 2024
The FXD token is more than just a means of exchange; it represents a secure and reliable store of value, backed by the stability of the U.S. dollar and the over-collateralization of XDC Tokens.
Was this helpful?
132
87
