Last USDPrice

(USDXL)

Last USD (USDXL) is a decentralized, over-collateralized synthetic stablecoin native to the Last Network. It is designed to maintain a 1:1 parity with the US Dollar. Unlike traditional centralized stablecoins backed by fiat deposits, USDXL is minted by users who provide cryptocurrency collateral. To ensure stability and provide a secondary reserve, the protocol incorporates tokenized U.S. Treasuries as a hard backstop, protecting the peg against the volatility often associated with pure crypto-collateralized assets.

USDXL and LAST serve distinct roles within the ecosystem. USDXL is the stable synthetic asset intended for use in decentralized finance (DeFi) activities, payments, and yield generation. In contrast, LAST refers to the upcoming governance token of the network ecosystem. While users hold USDXL for stability and utility, the LAST token is typically associated with protocol governance, allowing holders to participate in decision-making processes regarding the future of the stablecoin and its infrastructure.

Users can mint USDXL through the primary lending protocol associated with the network. This process involves supplying supported cryptocurrency assets as collateral. Once the collateral is deposited, users can borrow or mint USDXL against their holdings. This over-collateralized model ensures that every USDXL in circulation is backed by a higher value of underlying assets, maintaining the integrity of the synthetic dollar and ensuring the system remains solvent even during market fluctuations.

The protocol provides a Stability Pool where users can deposit their USDXL. This pool plays a critical role in securing the ecosystem by facilitating necessary liquidations. In exchange for providing this liquidity, participants earn protocol fees and liquidation bonuses. Additionally, during initial growth phases, users may earn ecosystem points or other incentives for holding, minting, or providing liquidity on decentralized exchanges, which are often used to determine future reward eligibility.

Security is a primary focus for USDXL. To mitigate the de-pegging risks common in synthetic assets, the protocol employs a dual-backing system. It utilizes standard cryptocurrency collateral alongside Real World Assets (RWA), such as tokenized U.S. Treasuries. This combination provides a robust reserve that acts as a secondary backstop. Users should always verify official contract addresses through the network's verified channels to avoid phishing attempts and ensure they are interacting with the legitimate protocol.

Ecosystem points are part of an incentive program designed to reward active participants within the network. Users typically accumulate these points by performing actions such as minting USDXL, providing liquidity on supported decentralized exchanges, or participating in the Stability Pool. These points often act as multipliers for future rewards or potential airdrop eligibility. This system is designed to attract long-term liquidity and foster deep engagement across the network's broader decentralized finance infrastructure.