USDx stablecoin from FxDAO protocol is now live on Soroswap Finance, the first DEX on Soroban Blockchain, with a $190,000 TVL liquidity pool for the XLM/USDx pair. Users can issue USDx by locking Lumens as collateral in FxDAO vaults for liquidity without selling assets. The article guides on acquiring, swapping, and providing liquidity for USDx on Soroswap.
Soroswap Finance announces the integration of USDx from FxDAO protocol, featuring a major $190,000 TVL liquidity pool for the XLM/USDx pair amid $385k total TVL. USDx is a revolutionary stablecoin issued via FxDAO's decentralized lending protocol, where users lock Lumens collateral (minimum 115% ratio) to mint USDx or other currencies without selling assets, plus governance participation. The tutorial covers obtaining USDx on Soroswap by swapping tokens, providing liquidity to earn fees, or holding as stable value. Detailed steps for FxDAO include connecting Stellar wallets like Lobstr or Freighter, creating vaults, managing debt/collateral, and confirming transactions. Soroswap enables seamless swaps across AMMs like SDEX or Phoenix, with verification on Stellar Explorer. Developed by Palta Labs, Soroswap sets benchmarks for fast, low-fee DeFi on Soroban.
