Scroll (@Scroll_ZKP): USX: A private, gasless and spendable stablecoin

USX: A private, gasless and spendable stablecoin TL;DR @usxcapital is a fully collateralized neodollar built on Scroll Merges TradFi and DeFi strategies to deliver 10-15%* returns Privacy (via Scroll Cloak technology) and gasless transactions coming soon Spendable via payment partners by Q1 2026. Pre-deposits open on 14th October 2025 with 20x multiplier in points on the first $35 million. The Stablecoin Evolution Today's stablecoin landscape is fragmented, as users have to choose between yield-bearing tokens or spendable stablecoins like USDC or USDT which are usable in real life. Even if users deposit into yield-bearing vaults, they must jump through hoops, i.e, unstaking, converting to USDC/USDT, transferring to crypto card apps - all of this just to spend their “yield bearing” stablecoins. USX addresses this challenge by creating the first ever neodollar, a stablecoin that’s yield-bearing, private, and spendable. Scroll's Strategic Direction for the Neodollar For the past couple of years, we've been focused on building a chain that's secure, robust, and can handle the TPS needed to onboard new users to crypto. The launch of USX is our natural next step to leverage the tech layer and build products that bring real utility to end-users and offer the same experience people expect from money. USX will act as a foundation to continue growing the Scroll ecosystem as we strengthen our partnerships with payment providers and various DeFi protocols. Scroll is set to become the chain where stablecoin innovation thrives by combining our security with user-centric features like privacy and gasless transactions. Introducing USX & sUSX The USX ecosystem is built around two core tokens: USX: A stablecoin maintaining a stable peg to the US dollar and always redeemable 1:1 with USDC. Staked USX (sUSX): Users who stake their USX receive sUSX, enabling them to capture a share of protocol generated yield. Why use USX? Capital Efficiency The USX protocol generates yield through a blend of uncorrelated and risk-managed strategies. This yield is distributed to staked USX holders (sUSX). 2. Practical Privacy USX will be built to be private, possible only through integration with Cloak (Scroll's privacy layer). This solves the enterprise and user dilemma of privacy by facilitating transactions in a private ledger which is auditable. This is a unique feature among fully collateralized stablecoins. 3. Gasless Experience USX will leverage chain-level customizations and payment partner integrations in the future to deliver an experience that is gasless and seamless for real-life transactions. 4. Uncompromising Security We take security seriously. Alongside getting contracts audited by top-tier auditors like @zellic_io, the protocol includes: A dedicated onchain insurance fund, pooling 5% of generated yield for an extra layer of protection. A transparency dashboard that will be included to reflect principal and yield. Audited reports will be generated every two weeks. Architecture USX is minted by supplying USDC as collateral at a 1:1 ratio (1 USDC → 1 USX) through the smart contract vault powered by @blend_money. Single Collateral: The protocol only accepts USDC. More collateral options will be added later as it scales. Yield Distribution Contract: The protocol distributes yield generated by market strategies back to USX stakers, i.e, sUSX holders. Strategies The protocol generates returns via two channels: Offchain Market-Neutral Arbitrage: Partnered hedge funds use market-neutral trading strategies (including spot-futures arbitrage, cross-exchange arbitrage, and statistical arbitrage) that aim for consistent rewards regardless of crypto market direction. Onchain Delta-Neutral Strategies: Blend provides the onchain execution infrastructure that coordinates yield strategies through lending, tranching, and liquidity provision while enforcing automated policy and safety controls. Once USX goes live, a transparency dashboard will be created to reflect principal and yield. Audited reports of reserves are generated every 2 weeks and shared to users. Pre-deposit campaign USDC deposited during the pre-deposit campaign has no upper limit, with the first $35M receiving a 20x points multiplier. Once this soft cap is reached, all subsequent deposits will get smaller multipliers until USX officially launches. Deposits will be deployed in @MorphoLabs vaults powered by Blend. All pre-deposit participants will benefit from 1:1 creation/redemption with zero slippage. More information around points will be released soon. Integration Partnerships: USX will immediately be usable in the Scroll ecosystem, and accepted as collateral on @honeypop_app (Scroll’s native money market), which enables looping strategies. There are 2 payment partners which will integrate direct payments with USX by Q1 2026. Getting Started (pre-deposit campaign) Get USDC: Ensure you have USDC tokens on Scroll ready for depositing in the protocol. You can bridge to Scroll from the portal: https://portal.scroll.io/bridge Deposit USDC through the app’s website and choose the staking preference (auto stake or hold unstaked USX once mainnet is live) What’s next USX is scheduled for official launch in Q4 2025. The protocol is currently in closed testing with ecosystem partners to ensure a seamless rollout. Initially, USX will launch on Scroll and Cloak before expanding to other chains. Deposit USDC and get 20x points on the first $35M only at usx.capital Disclaimer *The 10-15% represents the intrinsic yield generated by the protocol (purely from strategies and not extra rewards or token incentives) from both partnered TradFi (offchain) and Blend (onchain). Based on past performance, these combined strategies have delivered an estimated 10-15% return/year. However, kindly note that past performance does not guarantee future results, as returns depend on both offchain and onchain market conditions. Please note that USX and sUSX each bear certain risks, given their complex nature. You should not mint or interact with these components if you are unfamiliar with cryptocurrencies or the risks involved. For our full risk disclosure statement, please refer to important legal disclosures and risk disclaimers.