---
title: "Metal Dollar (XMD) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/xmd-metal-dollar/"
description: "Build-time stablecoin profile for Metal Dollar (XMD). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Metal Dollar (XMD)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Metallicus's basket dollar wraps USDC, PYUSD, and Paxos-dollar exposure on XPR Network — convenient as an index, hard to verify outside CoinGecko.

Metal Dollar is a basket-backed dollar token on XPR Network, with public materials pointing to USDC, PYUSD, and Paxos-dollar components as the reserve set held in issuer {{term:custody}}custody{{/term}}. Pharos admits it through CoinGecko's price and market-cap path because XPR Network is not currently supported for contract coverage. The structure gives XMD upstream exposure to centralized stablecoin issuers while leaving direct holder-control semantics hard to verify from Pharos' chain set, and no public {{term:attestation}}attestation{{/term}} feed itemizes the basket weights. It is useful basket-stablecoin coverage, but Pharos keeps dependency weights coarse until reserve composition and redemption depth are disclosed more granularly.

## 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

| Country | Regulator | License |
| --- | --- | --- |
| United States | N/A | N/A |

## Live Data

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