---
title: "Axis USD (USDx) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usdx-axis/"
description: "Build-time stablecoin profile for Axis USD (USDx). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-10-02"
---



# Axis USD (USDx)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

USDx turns Axis's venue-held trading portfolio into a transferable dollar-targeted token, with market-neutral hedges intended to offset directional inventory exposure. Accountable independently observes exchange-account reserves, but its cryptographic reporting does not establish legal segregation, complete hedge coverage or a funded loss-absorption layer. Direct redemption requires an approved primary-market account and an operator-settled signed order, so smaller holders depend on secondary-market liquidity. The governance Safe can expand roles and capacity without a delay even though proxy upgrades pass through a separate timelock. Published portfolio categories explain gross asset form, while unresolved venue identities, margin headroom and custody disclosures limit how much protection can be inferred from them.

## Collateral

Issuer asset-form snapshot dated October 2, 2026: liquid hedge inventory 70.73%, stablecoins and settlement tokens 21.41%, yield-bearing and staked collateral 6.25%, fiat cash and FX balances 1.31%, and tokenized Treasuries or reserve-backed cash equivalents 0.30%. These are gross backing shares before hedge offsets, not net-risk or per-token allocations.

## Peg Mechanism

Approved primary-market accounts sign EIP-712 orders against USDC or USDT collateral; authorized operators settle minting and redemption atomically onchain. Offchain RFQ pricing reflects portfolio unwind costs, and the contract does not independently value collateral using an external oracle. Retail holders rely on secondary markets. Indicative instant and seven-day redemption bands are not committed capacity or settlement guarantees.

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| British Virgin Islands | N/A | N/A |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xa1fa7777974312f7d801a8880714a218f76233f8` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/usdx-axis.