Metal Dollar (XMD) stablecoin analytics
Answer First
What is Metal Dollar (XMD)?
XMD is Metallicus's basket-backed dollar token on XPR Network, reserved by USDC, PYUSD, and Paxos-dollar stablecoins managed by the issuer. The static profile records its US Dollar peg mechanism as: Basket-backed stablecoin index on XPR Network, with mint and redeem flows intended to keep XMD near one U.S. dollar against the underlying stablecoin basket
Is XMD safe?
XMD holds a C Safety Score grade (59/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Metal Dollar uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Metal Dollar (XMD) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.
AI summary / Updated Sep 7, 2026
Metal Dollar is Metallicus's basket-backed dollar token on XPR Network, minted and redeemed 1:1 against whitelisted reserve stablecoins held in the xmd.treasury contract. Issuer materials describe a USDC, PYUSD, and Paxos-dollar basket, but Pharos' August 2026 on-chain read of the treasury tells a narrower story: about 96% is XUSDC, a Metallicus bridge wrapper over Circle's USDC, and the remaining roughly 4% is MPD, a Metallicus-issued dollar token that no public disclosure mentions and that carries no published...
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
Sources: XPR Network explorer - xmd.treasury and XPR Network: What is Metal Dollar (XMD)
- Collateral
- Reserve basket of dollar stablecoins used by Metal Dollar, including USDC, PYUSD, and Paxos-dollar components such as USDP / XPAX
- Peg Mechanism
- Basket-backed stablecoin index on XPR Network, with mint and redeem flows intended to keep XMD near one U.S. dollar against the underlying stablecoin basket
- Jurisdiction
- United States
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- No contract deployments are listed in the static profile.
Next Actions
Exact bot target: /subscribe dews,depeg,safety xmd-metal-dollar
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
XMD quick answers
What is Metal Dollar (XMD)?
XMD is Metallicus's basket-backed dollar token on XPR Network, reserved by USDC, PYUSD, and Paxos-dollar stablecoins managed by the issuer. The static profile records its US Dollar peg mechanism as: Basket-backed stablecoin index on XPR Network, with mint and redeem flows intended to keep XMD near one U.S. dollar against the underlying stablecoin basket
Is XMD safe?
XMD holds a C Safety Score grade (59/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Metal Dollar uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs XMD?
Pharos classifies XMD backing as Crypto-Collateralized. Collateral, per the static profile: Reserve basket of dollar stablecoins used by Metal Dollar, including USDC, PYUSD, and Paxos-dollar components such as USDP / XPAX Reserve evidence: live reserve feed configured.
Can XMD be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for XMD, when applicable, appear in the dossier below.
