XTUSD Stablecoin Safety Score & Risk Profile

Answer First

What is XTUSD?

XTUSD is XT.com/XSC's MakerDAO-style vault dollar, minted against overcollateralized XTDao crypto vaults with limited public on-chain tooling for Pharos. The static profile records its US Dollar peg mechanism as: XTDao CDP: users mint XTUSD against overcollateralized vaults; risky vaults are auctioned to keep collateral above outstanding debt. Secondary market and account liquidity run through XT.com, and Pharos does not model a fiat cash...

Is XTUSD safe?

Pharos does not assess XTUSD as safe: it holds an F Safety Score grade (39/100) in the latest published rating, which flags significant structural risk. Static metadata says XTUSD uses a Centralized (CeFi) governance model and Crypto-Collateralized backing, with curated reserve profile; the main caveat is that no direct freeze-control signal is recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.

Static Profile

Static stablecoin profile

XTUSD (XTUSD) static profile: governance model Centralized (CeFi); backing model Crypto-Collateralized; peg US Dollar.

Centralized (CeFi)Crypto-Collateralized US Dollar

AI summary / Updated Sep 7, 2026

AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026

Sources: XT.COM TAI to XTUSD announcement

Collateral: Overcollateralized XTDao vault collateral on XSC; issuer materials describe XT as the initial collateral asset with protocol support for additional collateral over time, but public live collateral composition remains hard to verify without XSC tooling.
Peg Mechanism: XTDao CDP: users mint XTUSD against overcollateralized vaults; risky vaults are auctioned to keep collateral above outstanding debt. Secondary market and account liquidity run through XT.com, and Pharos does not model a fiat cash redemption window.
Jurisdiction: Seychelles
Proof Of Reserves: No proof-of-reserves entry in the static profile.
Contracts: No contract deployments are listed in the static profile.

Next Actions

Compare XTUSD Telegram alerts Digest RSS API access

Exact bot target: /subscribe dews,depeg,safety xtusd-xt

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.

XTUSD quick answers

What is XTUSD?

Is XTUSD safe?

What backs XTUSD?

Pharos classifies XTUSD backing as Crypto-Collateralized. Collateral, per the static profile: Overcollateralized XTDao vault collateral on XSC; issuer materials describe XT as the initial collateral asset with protocol support for additional collateral over time, but public live collateral composition remains hard to verify... Reserve evidence: curated reserve profile.

Can XTUSD be frozen or blacklisted?

Based on tracked contract metadata and blacklist coverage, no direct freeze-control signal is recorded. Live freeze and blacklist events for XTUSD, when applicable, appear in the dossier below.

Waiting for initial data

Peg Data, Liquidity, and 3 more datasets has not populated yet.

XTUSD

XTUSD is XT.com/XSC's MakerDAO-style vault dollar, minted against overcollateralized XTDao crypto vaults with limited public on-chain tooling for Pharos.

Compare

XTUSD

—

USD-Pegged Crypto-Backed Centralized

XTUSD is XT.com/XSC's MakerDAO-style vault dollar, minted against overcollateralized XTDao crypto vaults with limited public on-chain tooling for Pharos.

Price

N/A

Market Cap

$1.25M

+0.00% 24h

Supply

— XTUSD

— 7d

— 30d

DEWS

Peg

Liq

30d Excess

USD-Pegged Crypto-Backed Centralized

Price

N/A

Market Cap

$1.25M

+0.00% 24H

Supply

— XTUSD

— 7D · — 30D

30d Excess

—

MechanismCrypto CDP MintingImmutable CDP FreezeNo Chains0 JurisdictionSeychelles MiCAOut of Scope

MintingImmutable CDP FreezeNo Chains0 JurisdictionSeychelles MiCAOut of Scope

XT.com XSC CDP Dollar

XTUSD is XT.com's exchange-issued dollar, and its live deployment on XSC is a Maker-style Vat carrying one debt-bearing collateral type: roughly 4.3 million XTUSD borrowed against Wrapped XT. What the on-chain read found is what is missing. No Spotter, price feed, or other update contract is authorized on that Vat. The collateral price sits at a fixed value with no identified mechanism to move it. No Cat, Dog, auction, or global-settlement module is authorized either. The 2022 announcement that promised a 150% minimum collateral ratio and an auction for risky vaults is half true: the 3% annual fee matches the Jug's duty exactly, so the interest accrues as advertised, while the auction it is supposed to protect has no contract standing behind it. The Median/OSM/Spotter stack that does exist on XSC is wired to the issuer's legacy TAI deployment, not to this one. Pharos caps the card on that finding: an opaque collateral-price path is a critical oracle signal, and it binds the N/A overall grade, because an unpriced, unliquidatable vault lacks the machinery a higher grade would measure.

Claims as of September 7, 2026

Sources

XT.COM TAI to XTUSD announcement

Updated September 7, 2026 · AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026

Policy

Centralized (CeFi)|Compare

Key Links

Website Twitter

Collateralization

Overcollateralized

165.1%

Reviewed 2026-07-20

Custody

Undisclosed

Reserve custody is held by XTDao vault contracts on XSC; the account structure is undisclosed.

XTDao vault contracts on XSC—
Other
Undisclosed100%

SegregationUnknown

Bankr. remoteUnknown

RehypothecationUnknown

Providers1

ConfidenceManual review

Reviewed 2026-07-20

Non-indexed issuance chain

XTUSD primarily circulates on XSC, which is not EVM-indexed by Pharos. No on-chain contract is stored; supply and metadata are supplemented by external sources only.

Redemption backstop not modeled

XTUSD is tracked from market and issuer metadata, but Pharos has not source-reviewed a public holder redemption route for backstop scoring.

Context

XTUSD

Mint Authority

IssuerImmutable CDP

ControlsContractContractContract

SupplyXTUSDBounded admin

NRConfidence: Manual review

XTUSD is minted by a live MakerDAO DSS-style CDP system on XSC: users draw Vat credit against Wrapped XT (ilk XT-A) and the DaiJoin adapter 0xa57cde0585010aa1bcfadb3bf6f3445349bb98ab, the sole ward on the token, mints on exit. The 1,000,000,000 XTUSD per-collateral debt ceiling matches the issuer announcement and is effectively frozen because the deployer was revoked from every ward set and the only Vat wards are non-governance system contracts. The token and all system contracts are non-proxy with no upgrade path.

Scoring breakdown

Derived posture Unknown

Component score NR

The mint control posture is not rated because the review is missing, unknown, or unresolved.

Primary controls

XTDao DaiJoin (sole XTUSD ward, live)
Direct minter / Contract
xsc / 0xa57cde...bb98ab
MintCap-limited
Mints XTUSD on user exit against Vat dai drawn on collateral; bounded by the Vat ilk XT-A line of 1e54 rad (1,000,000,000 XTUSD) and the global Line of about 1.456e54 rad. No reviewed function on a current Vat ward can raise these ceilings, so the cap is effectively frozen.
XTDao Vat (CDP debt engine, live)
Minter admin / Contract
xsc / 0xf9d481...5e786b
MintCan authorize
Holds the XT-A debt ceiling (line = 1e54 rad) and global Line (~1.456e54 rad). Only Vat wards can file new ceilings or rely new adapters; the current wards are the Jug and the XT-A GemJoin, neither of which exposes such a call, and the deployer was revoked, so parameter governance is effectively frozen.
XTDao GemJoin XT-A (Wrapped XT collateral adapter)
Custodian / Contract
xsc / 0xdec7d8...b63d2e
MintNone
Custodies WXT collateral for ilk XT-A and holds a Vat ward for collateral accounting (slip); it cannot mint XTUSD and exposes no ceiling-raising call.
XTDao Jug (stability-fee module, Vat ward)
Other / Contract
xsc / 0x8276a3...e5eb0b
MintParameter-only
Accumulates the XT-A stability fee into Vat-internal dai owed to the vow; as a Vat ward it can alter system accounting but cannot directly mint XTUSD or raise the debt ceiling.

Methodology v9.91View methodology Version history →Reviewed 2026-07-27

XTUSD

Reserve quality

Opaque exit

1 reviewed reserve slice — no published exit timeline for any of the basket. 100% of the basket has no identified obligor.

Asset mix

Time to liquidate

Unknown100%

Unidentified obligors100%

As of2026-07-20

Slices1

ConfidenceManual review

Slice detail & risk factors

Current Pharos reserve row retained as an issuer-managed placeholder; the reviewed source establishes the historical XTDao design but not a current composition snapshot.

The sole issuer-managed reserve row has no current, independently verifiable collateral identity or weight.

XTDao vault collateral (current composition unverified) · 100% · Other assets · Unknown · Very high risk
Obligor: XTDao vault collateral (initially the XT token) administered under XT.com/XSC
Risk factors: market · credit · liquidity · custody · smart contract · concentration

Reviewed 2026-08-08

XTUSD

Collateral pricing & liquidation

Opaque / unknown

Prices the collateral behind XTUSD and drives liquidations. A wrong or stale price leaves debt undercollateralized, so this is core solvency machinery.

The live XTUSD Vat 0xf9d4810f1b140d869d2f92ca8da1755ea55e786b on XSC carries a single debt-bearing ilk, XT-A (Wrapped XT collateral), with Vat.spot set to 3.4780667 ray at block 48187434 (2026-08-08), but no Spotter, pip, or other price-update contract is a current Vat ward: only the Jug and the XT-A GemJoin are…

Branches1

Feeds1

Min CR150%

Liq. delayNone

ConfidenceProbable

XT-A vault ilk (Wrapped XT)100% of debt
XT-A is the sole debt-bearing collateral branch: 4,325,685.429106121218664325 XTUSD of vault debt (Art) against WXT, byte-identical at block 48187434 (2026-08-08) and at blocks 48866032/48866034 (2026-09-01). Its 100.000% debt share is arithmetic, not inferred: Vat.debt equals XT-A Art x rate with a zero residual, leaving no room for a second debt-bearing ilk. The Vat's XT-A spot is 3.4780667 ray, but no current Vat ward can update it and no liquidation module is authorized to act on unsafe vaults. The issuer's 2022 announcement publishes a 150% minimum collateral ratio and 3% annual fee for XT-A; the Jug duty reads 1.000000000937303470807876289 ray, 3.0000% annualized, matching the announcement, with base 0 and rho 1768050306 (2026-01-10T13:05:06Z, the last drip), but the mat/liquidation ratio is not readable on-chain because no Spotter holding that ratio is wired to the live Vat.

Feeds, parameters & failure behavior

XT-A vault ilk (Wrapped XT)

Vat 0xf9d4810f1b140d869d2f92ca8da1755ea55e786b ilks("XT-A").spot returns 3.478066666666666666666666666 ray, byte-identical on datarpc1 and datarpc2 at blocks 48866032/48866034 (2026-09-01) and unchanged from the block-48187434 read of 2026-08-08 — 678,598 blocks and 24 days with no price movement whatsoever, which is what a spot with no authorized updater looks like. No Spotter, pip, OSM, or median contract is a Vat ward: wards() answers 1 only for the Jug 0x8276a38e484771ee1b14c60aaa85ab2147e5eb0b and the XT-A GemJoin 0xdec7d8fe3955ccbeb009e366c583fba2a9b63d2e, and 0 for the DaiJoin 0xa57cde0585010aa1bcfadb3bf6f3445349bb98ab, the vow 0x73c190d6be81bbe3cbe96bb83d8ab66f1c645160, the CDP manager 0x5611e8f241a6fd545b642dff90c6ad8c68f89b99, the deployer 0xE8864ba6b3A6e2f5104A0ECFFd90E2C9fd2cb4Dc, WXT 0x4b681a704664ce482c45ec16ac9ecc9b121fb037, and the Vat itself — the same answers at both the 2026-08-08 and 2026-09-01 blocks. Neither ward exposes a spot-poke path, and the Median-OSM-Spotter stack deployed on XSC is wired to the legacy TAI token 0x775c4bc7…, not to XTUSD or this Vat. Not-published: feed provider, feed address, heartbeat, staleness bound, and failover for the live path. · None identified: the XT-A collateral price is a static Vat.spot with no authorized updater · xsc

WXT (Wrapped XT, ilk XT-A) · MCR 150% · The 150% minimum collateral ratio and 3% annual fee come from the issuer's 2022 launch announcement, not from a live Spotter read; the live Vat has no Spotter ward, so mat is not readable on-chain (the Jug duty independently matches 3.0000% annualized, with base 0, at blocks 48187434 and 48866032). Live Vat ilk XT-A parameters, re-read on two independent XSC RPCs (datarpc1 block 48866032, datarpc2 block 48866034, 2026-09-01) and byte-identical to the block-48187434 read of 2026-08-08: line 1,000,000,000 XTUSD (1e54 rad), dust 10 XTUSD (1e46 rad), spot 3.4780667 ray, rate 1.109768838172783259552580622 ray, Art 4,325,685.429106121218664325, Vat-internal debt Art x rate = 4,800,510.892960037551764310893306 XTUSD against a global Line of 2,000,000,000 XTUSD, so the ilk ceiling matches the announced 1,000,000,000 XTUSD design and is not breached. debtSharePct 100 no longer rests on transaction-history inference: Vat.debt reads 4800510892960037551764310893306021067552105717710150 rad, exactly XT-A's Art x rate, so every unit of Vat-internal debt is XT-A debt and no other ilk carries any.

The issuer announcement describes an auction mechanism that handles risky vaults, but no liquidation module (Maker-style Cat/Dog or Flip/Clip auction contract) is a current Vat ward at block 48187434. Only the Jug and the XT-A GemJoin are authorized, and vault collateral seizure (Vat.grab) requires Vat auth, so no on-chain liquidation path is operable on the live deployment. No liquidation timer, grace period, or auction window stands on that path either, because no module exists to start one: liquidationDelaySec 0 records the absence of a delay parameter, not an ability to liquidate promptly. Not-published: liquidation trigger conditions and auction parameters. · liquidation delay None

The Jug's vow() resolves to 0x73c190d6be81bbe3cbe96bb83d8ab66f1c645160, so Vat-internal surplus/debt accounting exists, but no flapper/flopper auction pair, stability pool, insurance fund, or committed bad-debt buyer was identified among authorized contracts, and the issuer publishes none. Not-published: any auction-based or fund-based liquidation backstop.

No oracle feed is identifiable on the live path. Among all probed system contracts (deployer, DaiJoin, CDP manager, Jug, GemJoin), only the Jug and the XT-A GemJoin are Vat wards at block 48187434, and neither exposes a file/poke that can update Vat.spot, so the XT-A spot of 3.4780667 ray has no identified on-chain update mechanism, no heartbeat, and no staleness rejection. The Median→OSM→Spotter stack visible on XSC is wired only to the legacy TAI deployment (token 0x775c4bc7…), not to the XTUSD token 0x1a6131ea… or the live Vat, and the issuer announcement names no oracle provider, feed address, heartbeat, or failover. Not-published: any feed identity or failover for the live path.

Vat.live() = 1 at block 48187434 and no global-settlement (End-like) module is authorized on the live Vat; the issuer publishes no shutdown, settlement, write-off, or bad-debt socialization procedure, and with no operable liquidation module an undercollateralized vault has no identified on-chain resolution path. Not-published: shutdown and bad-debt handling.

Reviewed 2026-09-01

Mechanism review

Crypto-Collateralized (CDP)Reviewed 2026-07-20

Reviewed 2026-07-20 by Kimi mechanism-review lane mech-2. The XTUSD mechanism was reconstructed on-chain on XSC (chainId 520) at pinned block 47623618 via datarpc1.xsc.pub, because the only issuer documentation is the 2022 XT.COM launch announcement (re-fetched and read this session via curl with a browser user-agent…

How crypto-collateralized (cdp) stablecoins work

Backing mechanics

Measured from the protocol

Collateralization at market price: 114.2%
Collateralization at spot price: 110.1%
Collateralization over circulating supply: 345.9%
VOW surplus share of debt: 0.523
System debt xt: $4.8M
Circulating supply xt: $2.3M

Reviewed gaps (2)

Liquidation capacity ratio
Not applicable
Branch isolation
Not applicable

Reviewed 2026-07-20

Regulatory standing

Out of Scope

XTUSD is out of MiCA scope.

MiCA (EU)

StatusOut of Scope

Control posture

DAO governed

Code

DAO

Multisig

Regulated

Operator

Wrapper

PostureDAO governed

TaxonomyCEFI

ScopeLOCAL

Scoring roleDESCRIPTIVE

XTUSD control posture: DAO governed. This classification is descriptive; V9 Economic Control is scored through mint, oracle, and bridge evidence.

Classification details

Material control is classified as exercised through an onchain governance process rather than one operator or signer group.

The CEFI taxonomy is the broader protocol classification from flags.governance. Control posture is the finer description of where operational authority sits.

Control posture is not a Safety Score input. Mint Authority and the applicable oracle and bridge evidence provide the reviewed facts used by V9 Economic Control.

View methodology

Freeze & seizure

Not freezable

The reviewed deployments expose no issuer freeze, seizure, or holder blacklist path.

Verified 2026-09-21 at XSC block 49439522: XTUSD 0x1a6131eaf7edd96afa10fc75b0d79dd814d19ed0 had runtime code hash…

Freeze powerNot freezable

BasisSourced review

Reviewed 2026-09-21

Market

Activity

History

News

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Peers

Taxonomy

All US Dollar stablecoins Centralized (CeFi) stablecoins Crypto-Collateralized stablecoins

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XTUSD quick answers

What is XTUSD?

Is XTUSD safe?

What backs XTUSD?

Can XTUSD be frozen or blacklisted?

Based on tracked contract metadata and blacklist coverage, no direct freeze-control signal is recorded. Live freeze and blacklist events for XTUSD, when applicable, appear in the dossier below.

Answer First

What is XTUSD?

Is XTUSD safe?

Static Profile

Static stablecoin profile

XTUSD (XTUSD) static profile: governance model Centralized (CeFi); backing model Crypto-Collateralized; peg US Dollar.

Centralized (CeFi)Crypto-Collateralized US Dollar

AI summary / Updated Sep 7, 2026

AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026

Sources: XT.COM TAI to XTUSD announcement

Collateral: Overcollateralized XTDao vault collateral on XSC; issuer materials describe XT as the initial collateral asset with protocol support for additional collateral over time, but public live collateral composition remains hard to verify without XSC tooling.
Peg Mechanism: XTDao CDP: users mint XTUSD against overcollateralized vaults; risky vaults are auctioned to keep collateral above outstanding debt. Secondary market and account liquidity run through XT.com, and Pharos does not model a fiat cash redemption window.
Jurisdiction: Seychelles
Proof Of Reserves: No proof-of-reserves entry in the static profile.
Contracts: No contract deployments are listed in the static profile.

Next Actions

Compare XTUSD Telegram alerts Digest RSS API access

Exact bot target: /subscribe dews,depeg,safety xtusd-xt

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.

XTUSD quick answers

What is XTUSD?

Is XTUSD safe?

What backs XTUSD?

Can XTUSD be frozen or blacklisted?

Based on tracked contract metadata and blacklist coverage, no direct freeze-control signal is recorded. Live freeze and blacklist events for XTUSD, when applicable, appear in the dossier below.

XTUSD (XTUSD) stablecoin analytics

What is XTUSD?

Is XTUSD safe?

Static stablecoin profile

XTUSD quick answers

XTUSD (XTUSD) stablecoin analytics

XTUSD

XTUSD

XT.com XSC CDP Dollar

Key Links

Collateralization

Custody

Mint Authority

Reserve quality

Collateral pricing & liquidation

Mechanism review

Backing mechanics

Measured from the protocol

Reviewed gaps (2)

Regulatory standing

Control posture

Freeze & seizure

News

Explore Next

XTUSD quick answers

What is XTUSD?

Is XTUSD safe?

Static stablecoin profile

XTUSD quick answers

XTUSD

XTUSD

XT.com XSC CDP Dollar

Peg Stability

Key Links

Reserve Composition

Collateralization

Custody

DEWS: Depeg Early Warning System

Mint Authority

Reserve quality

Collateral pricing & liquidation

Mechanism review

Backing mechanics

Measured from the protocol

Reviewed gaps (2)

Regulatory standing

Control posture

Freeze & seizure

Market Data

Supply by Chain

Liquidity by Protocol

News

Explore Next

XTUSD quick answers

Peg Stability

Reserve Composition

DEWS: Depeg Early Warning System

Market Data

Supply by Chain

Liquidity by Protocol