Grouped USD Token

Demex's primary stablecoin that is 1:1 USD-backed for a better deposit experience

Introduction

Demex uses the Demex Grouped USD token (or "Grouped USD Token" or "$USD") as its primary stablecoin for perpetual trading.

It is automatically minted 1:1 without any fees when a user deposits the underlying USD stablecoin from supported networks, regardless of the amount.

Currently, Grouped USD Token is backed 1:1 by USDC and axlUSDC from all major chains.

View the full list of supported USD constituent assets and their supply on Carbonscan.

If you have existing stablecoins that are not converted to Demex Grouped USD yet, read the migration guide here.

Why use the Grouped USD Token instead of USDC?

While the Grouped USD Token only contains USDC tokens as underlying at the moment, more types of stablecoins will be added in the future as more regulated stablecoins launch. Furthermore, this allows USDC from any chain to be treated as the same token on the Demex L1 chain.

These stablecoins can then be deposited into Demex without any slippage or fees regardless of size, improving the onboarding experience. This is only possible because the Grouped USD Token acts as a basket of different regulated stablecoins.

Demex has a strict criteria for whitelisting constituents and has on-chain safety features.

Example

If Demex only accepts native USDC from a particular network like Arbitrum, a user holding a large amount (like $1 million) of USDC on Osmosis or Base, may incur significant fees to bridge and swap it to native USDC on Arbitrum to deposit into Demex.

With Grouped USD, the user can directly deposit any amount of USDC into Demex, without swapping or bridging to other networks, getting its full value onto Demex.

Depositing and Withdrawing

Deposits

Any stablecoins from the basket of constituent assets that are deposited into Demex are automatically converted to Grouped USD at a 1:1 rate. Simply select the preferred stablecoin type and chain when depositing. There are 0 fees involved in auto-conversion into Grouped USD.

Withdrawals

Grouped USD Tokens are automatically converted to any of the underlying tokens at a 1:1 rate. Simply select the preferred stablecoin type and chain when withdrawing. There are 0 fees involved in auto-conversion from Grouped USD.

Rebalancing

Each token has a different amount of liquidity available for withdrawals. If there is insufficient liquidity for a particular token, you may have to wait some time for the liquidity to increase.

This can happen when the liquidity is still undergoing rebalancing, or when other a users just withdrew a large amount of one type token from Demex.

View the current ratio of underlying assets available in USD on Carbonscan.