uxd

ChainCatcher news, Latin American cryptocurrency service provider Ripio has announced the launch of the USD stablecoin UXD. The company stated on Thursday that in Argentina, where the annual inflation rate has reached 115%, Ripio users can already purchase the UXD stablecoin, also known as Criptodólar. This stablecoin is also available in Brazil and is hosted on LaChain.It is reported that LaChain is a Layer 1 blockchain focused on Latin America, launched by Ripio in June in collaboration with SenseiNode, Num Finance, Cedalio, and Buenbit. The company also plans to integrate UXD into its Ripio card.

ChainCatcher news, the decentralized stablecoin protocol UXD Protocol stated on Twitter that it has deposited 5 million USDC from its treasury into Flux Finance to earn interest, and the earnings will be used to buy back UXP tokens.It is reported that [Flux Finance](https://www.rootdata.com/zh/Projects/detail/Flux Finance?k=Njc5OA==) allows lenders to provide stablecoins (USDC and DAI) to earn yields by supporting permissionless assets like stablecoins and permissioned assets like tokenized securities, while borrowers can use tokenized government bonds as collateral. Flux was initially developed by [Ondo Finance](https://www.rootdata.com/zh/Projects/detail/Ondo Finance?k=MzEyOQ==). (Source link)

ChainCatcher news, yield aggregator Tulip and stablecoin provider UXD have resumed their token-related services from Mango Markets. According to previous reports, Tulip received approximately $2.5 million in affected funds from the over $100 million attack on Mango and temporarily disabled withdrawals from its strategy vault. Meanwhile, UXD was affected by nearly $20 million in funds from Mango and suspended UXD minting to minimize risk. (source link)

ChainCatcher news, according to the official Twitter of UXD Protocol, the total amount of funds affected by the Mango attack incident for the Solana ecosystem algorithmic stablecoin protocol UXD Protocol is $19,986,134.9037.UXD Protocol stated: "Our insurance fund is sufficient to cover the losses. UXD is fully secured, and once Mango Markets recovers from the exploit, users will be able to redeem. The total amount of the insurance fund is $53,527,304.7757. UXD Protocol has suspended UXD minting to minimize risk. Once we confirm that the issues with Mango Markets are resolved, the minting function will be re-enabled. Meanwhile, users can exchange UXD for USDC on Jupiter Exchange. There is enough liquidity for UXD holders to redeem USDC at par value." (source link)

Chain Catcher news, the new public chain Sei focused on DeFi announced today that the Solana ecosystem algorithmic stablecoin UXD Protocol is launching UXD on the new public chain Sei.Sei stated that the integration of the UXD stablecoin, as a fundamental component of DeFi, will provide Sei users with a permissionless, decentralized, and stable unit of account. Additionally, UXD is the first Cosmos-native stablecoin deployed on Sei. (Source link)