LOS ANGELES, CA / ACCESSWIRE / March 23, 2023 / BankX has designed the most advanced, decentralized stablecoin system that gives individuals complete control allowing users to earn interest for minting the stablecoin rather than allowing companies like Tether to earn the interest instead.
Stablecoins in the market face a myriad of problems. Terra Luna, with no collateral, lost $60B as it went to zero. Silicon Valley Bank, while holding dollars backing USDC, went bankrupt. USDC also earns $1.6B a year from the dollars customers deposit to create their stablecoin. Other collateral-backed stablecoins, like DAI, can be liquidated. Every USD-backed stablecoin faces tremendous loss in purchasing power from inflation.
BankX is launching a silver-pegged, crypto-backed, blockchain-controlled, fully decentralized stablecoin that cannot be shut down or liquidated. Most importantly, BankX users earn interest for minting the stablecoin and the collateral used to create currency is never liquidated. The BankX stablecoin, XSD, tracks the value of 1 gram of silver, providing a much better store of value than the US Dollar, which is currently experiencing record-breaking inflation due to non-stop money printing.
BankX is on record predicting the downfall of other stablecoins and issues with the legacy banking system we are now witnessing. After nearly 2 years of research and development, BankX is set to solve the issues with stablecoins forever and liberate everyone from currency manipulation, theft, bank failures, inflation, and potential losses from using other stablecoins. BankX offers a unique stablecoin solution that puts individuals in full control of their finances, allowing them to earn interest for creating currency that holds its value and cannot be shut down.
BankX launches On Ethereum on March 23, 2023 at 1pm Pacific with launch on Binance coming soon.
Visit www.BankX.io to learn more.
Contact: Lance Parker, 1-310-702-8686, [email protected]
SOURCE: BankX