Last USD USDXL Price

Last USD ($USDXL) is a decentralized stablecoin native to the Hyperliquid Layer-1 blockchain, a platform optimized for perpetual futures trading with high throughput and minimal fees. Launched in 2024, $USDXL is designed to maintain a 1:1 peg with the U.S. dollar, providing a stable asset for decentralized finance (DeFi) applications within Hyperliquid’s ecosystem. 

Unlike fiat-backed stablecoins, $USDXL is minted through over-collateralized positions, where users deposit assets like HYPE, WHYPE, or bridged tokens (e.g., ETH, BTC) into smart contracts, ensuring stability through algorithmic mechanisms and liquidity pools. The token serves as a core medium for trading, lending, and liquidity provision on Hyperliquid’s decentralized exchange (DEX), HyperSwap V3, where it pairs with assets like $UBTC for efficient market access. 

$USDXL holders can participate in yield farming by depositing into stability pools, earning rewards from trading fees and protocol incentives, often amplified by Hyperliquid’s gasless transaction model powered by Account Abstraction. The stablecoin’s integration with Hyperliquid’s HyperBFT consensus ensures near-instant finality, making it ideal for high-frequency trading and dApp interactions. Security is reinforced through audited smart contracts and real-time monitoring, addressing risks like depegging or liquidation cascades. 

Beyond Hyperliquid, $USDXL’s cross-chain potential via bridges like LayerZero allows interaction with other DeFi ecosystems, enhancing its utility for payments and collateral. The protocol’s governance is community-driven, with plans to introduce $USDXL-based voting for fee adjustments and ecosystem grants. By offering a reliable, low-volatility asset in a performance-driven blockchain, $USDXL caters to traders, developers, and yield seekers aiming to leverage Bitcoin-centric DeFi without centralized dependencies, fostering a transparent and scalable financial environment.

What is unique about Last USD (USDXL)?

$USDXL is a Hyperliquid-native stablecoin, pegged to USD via over-collateralized minting, optimized for gasless DeFi trading, yield farming, and cross-chain interoperability, with community governance enhancing its decentralized stability.

Who are the founders of Last USD (USDXL)?

The founders of Last USD are anonymous, developed under the Hyperliquid team with no specific individuals publicly named.

Who are the backers/investors of Last USD (USDXL)?

The backers of Last USD are not explicitly disclosed, relying on community-driven support within the Hyperliquid ecosystem, with no named institutional investors.