Metal Dollar (XMD) takes center stage as the primary trading pair within the Exchange segment of Metal X.

Metal Dollar derives its intrinsic value from a diversified reserve comprising established, non-algorithmic bank-backed stablecoins. This basket of stability includes stalwarts such as USDC, PYUSD and PAX. The worth of XMD is intricately tied to this basket, offering a robust safeguard against the risks associated with reliance on a single stablecoin.

Introduction To Metal Dollar

The open internet has transformed the way we connect and share information, enabling instant and secure communication. With the advent of blockchain technology and cryptographic assets, we are now entering a new era of the open internet, where individuals can exchange value with the same ease and cost-effectiveness. The Metal Dollar (XMD) aims to realize the vision of an open internet of value exchange by providing a stablecoin that facilitates efficient and inclusive digital transactions.

The Emergence of Metal Dollar

Born out of the need for stability and reliability in the crypto market, the Metal Dollar (XMD) introduces a unique approach to stablecoins. By leveraging the XPR Network, a decentralized and independent blockchain network, Metal Dollar offers a secure, transparent, and efficient ecosystem for digital transactions. Its value is pegged to a basket of established, non-algorithmic bank reserve-backed stablecoins like USDC, PYUSD, and PAX, providing stability and reducing risks associated with single-issuer or algorithmic stablecoins.

Metal Dollar's Mission

The mission of Metal Dollar is to create a stablecoin that offers unparalleled stability, transparency, and efficiency for digital transactions. It aims to provide individuals and businesses with a reliable medium of exchange, store of value, and unit of account that can be seamlessly integrated into their daily lives. Metal Dollar strives to foster financial inclusion, eliminate artificial economic borders, and empower individuals to participate in the global marketplace.

Metal Dollar's Vision

The vision of Metal Dollar is to revolutionize the open internet of value exchange by creating a stablecoin that enables individuals worldwide to transact and exchange value with the same ease and affordability that the internet has enabled for the sharing of information. Metal Dollar aims to be at the forefront of the movement towards a more inclusive, efficient, and empowering global economy.

Stability Mechanisms

Metal Dollar is designed to maintain a stable value by utilizing a basket of established, non-algorithmic bank reserve-backed stablecoins. This diversified backing reduces the risks associated with relying on a single stablecoin for stability. The basket includes widely recognized stablecoins such as USDC, PYUSD, and PAX, ensuring a robust foundation for the Metal Dollar's value.

Efficient and Secure Transactions

Metal Dollar leverages the XPR Network to provide fast confirmation times, high transaction throughput, and low transaction fees. Users can enjoy efficient and cost-effective digital transactions, making Metal Dollar an ideal solution for micropayments, remittances, and other transactional use cases. The XPR Network's advanced cryptography and secure identity verification mechanisms ensure the integrity and security of transactions.

Transparent and Decentralized Governance

Metal Dollar embraces a decentralized governance model through the Metal DAO (XMT) token. XMT token holders can propose and vote on key decisions related to the Metal Dollar protocol, including the composition of the stablecoin basket. This transparent and community-driven governance model ensures that the stability and integrity of the Metal Dollar are maintained in a democratic and inclusive manner.

Metal Dollar (XMD) Functionality

Basket Backing and Stability

Metal Dollar is backed by a basket of established, non-algorithmic bank reserve-backed stablecoins. The value of XMD is pegged to this basket, which includes USDC, USDT, TUSD, and PAX. This diversified backing ensures stability by mitigating the risks associated with relying on a single stablecoin. The Metal DAO community has the power to propose and vote on changes to the stablecoin basket, ensuring adaptability to market dynamics.

Integration with the XPR Network Ecosystem

Metal Dollar seamlessly integrates with the XPR Network ecosystem, offering enhanced functionality and interoperability. XMD serves as the primary trading pair on Metal X, the blockchain's decentralized exchange platform, streamlining trading and creating a more efficient market. Additionally, Metal Dollar can be utilized for various transactions within the XPR Network ecosystem, fostering a vibrant and diverse digital economy.

Metal Dollar Use Cases

Payments

Metal Dollar provides a stable and efficient medium of exchange for everyday payments. Users can adopt Metal Dollar as a payment option, offering a reliable digital currency that can be easily integrated into existing payment systems. The stability and low transaction fees of Metal Dollar make it an ideal choice for merchants and consumers alike.

Remittances

Metal Dollar offers a stable and low-cost alternative for remittances, allowing individuals to transfer value across borders with ease. By leveraging the efficiency and cost-effectiveness of Metal Dollar, users can bypass traditional remittance channels and benefit from fast and affordable cross-border transactions.

E-commerce

Metal Dollar serves as a secure and stable digital currency for e-commerce transactions. By using Metal Dollar, online merchants can eliminate the volatility risks associated with other cryptocurrencies, providing a seamless and reliable payment option for global customers. Metal Dollar's integration with the XPR Network enables merchants to accept payments from a wide range of customers and expands their reach in the digital marketplace.

Trading on Metal X

Metal Dollar (XMD) serves as a primary trading pair on Metal X, the decentralized exchange (DEX) built on the XPR Network. Users can leverage Metal Dollar as a stable and reliable asset for trading various cryptocurrencies on the DEX.

By using XMD as a trading pair, users can benefit from the stability and liquidity provided by Metal Dollar. This enables seamless and efficient trading experiences, reducing the volatility risks associated with other cryptocurrencies. Traders can easily navigate the Metal X platform, conducting transactions with ease and confidence.

Metal Dollar's integration with Metal X expands the range of trading opportunities for users within the XPR network ecosystem. It provides a reliable and stable medium of exchange, facilitating the smooth flow of value between different digital assets. Traders can enjoy fast confirmation times, high transaction throughput, and low transaction fees while participating in the vibrant Metal X marketplace.

The availability of XMD as a trading pair on Metal X enhances the overall liquidity and trading ecosystem of the XPR Network. It contributes to the growth and development of a dynamic decentralized marketplace, where users can explore a wide range of trading opportunities while enjoying the stability and convenience offered by Metal Dollar.

How to Mint Metal Dollar?

The creation of XMD is a straightforward process for users, achieved by depositing or bridging supported stablecoins (USDC, PYUSD and PAX) onto the XPR Network.

Minting and Redeeming Metal Dollar (XMD) is accessible through the dedicated minting modal on MetalX.com. To access the modal, simply click on the 'Mint Now' button.

Within the modal, you have the option to either mint or redeem Metal Dollars (XMD).

This minting procedure operates via a secure smart contract, delivering the twin benefits of transparency and security for every transaction. Conversely, users retain the flexibility to redeem their XMD holdings for the constituent stablecoins within the basket, enabling them to efficiently manage their digital assets and maintain liquidity.

Alternatively, you can mint XMD on the Metal Dollar page as well.

A Closer Look at the Exchange

In the next Learn episode, we'll embark on an exploration of the foundational pillar of Metal X - the exchange portion, and how to connect to it with your Webauth Wallet.