IDRXPrice

(IDRX)

IDRX is a blockchain-based stablecoin project specifically designed to bridge the traditional Indonesian financial system with the decentralized Web3 ecosystem. The primary function of the IDRX token is to serve as a digital representation of the Indonesian Rupiah (IDR), maintaining a 1:1 peg to the national currency. It is developed by PT IDRX Indo Inovasi, a digital asset startup based in Indonesia. The project is built on the Polygon network, leveraging its infrastructure to provide high-speed transactions and lower operational costs compared to traditional banking or other blockchain networks. While its current foundation is on Polygon, the development team has expressed intentions to expand to other blockchain networks to enhance interoperability and accessibility across the broader cryptocurrency landscape. A core focus of the IDRX project is regulatory compliance and transparency. To ensure trust, the project maintains reserves held in transparent financial institutions, which are subject to regular third-party audits. These audits are intended to verify that every token in circulation is fully backed by an equivalent amount of fiat currency. From a security perspective, IDRX implements several measures to protect its ecosystem and users. These include smart contract audits to identify potential vulnerabilities and the integration of Know Your Customer (KYC) procedures for its users. The project also utilizes a 24-hour timelock feature on certain transactions and requires multi-member approval for sensitive operations to prevent unauthorized access or manipulation. In terms of utility, IDRX is designed for a variety of use cases within the Web3 space. It acts as a stable asset for users navigating decentralized finance (DeFi) applications, such as decentralized exchanges, lending protocols, and liquidity pools. It is also intended for use in day-to-day economic activities, including merchant services and global remittances, providing a digital alternative for those who wish to transact in Rupiah-denominated assets without the typical volatility of other digital currencies. The project is led by Co-Founder and CEO Nathanael Christian. The organization aims to promote financial inclusion in Indonesia and support the sovereignty of the Rupiah as the country moves toward a more digitized economy. By providing a stable and secure digital asset, IDRX seeks to facilitate the adoption of blockchain technology for both retail users and institutional participants within the Indonesian market. Learn more

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