🌊What is CruiseFi and USDx?

CruiseFi is building a new stablecoin, USDx, backed by your conviction in ETH.

Existing stablecoins like Dai, LUSD are all backed by liquidation, an overly sensitive risk backstop. The result in unnecessary collateral loss for borrowers, who can see their entire position wiped out from a temporary price fluctuations. When prices recover, liquidated borrowers are left with huge losses.

Meanwhile, lenders are left with low returns. The low returns stem from liquidation's zero conviction nature: by removing all risk form lenders, liquidation also removes all return. Lending on platforms like Aave has become less attractive as a result, with returns below the rate of USD inflation.

CruiseFi's native stablecoin, USDx, solves both these problems:

• For borrowers, USDx enables borrowing without worrying about collateral loss from sudden or temporary price movements.

• For lenders, USDx produces yields in excess of inflation and US Treasuries, through its unique risk management system.

Underpinning the protocol is a new derivative asset, called the "Price Recovery Token", or PRT, which tokenizes long term conviction in ETH, and consequently allows for higher returns for lenders, and safer leverage for borrowers.