XSGD is a Singapore Dollar (SGD)-backed stablecoin developed by StraitsX, a subsidiary of Xfers, aimed at enhancing the efficiency of cross-border payments and decentralized finance (DeFi) applications in Southeast Asia.

Key Features of XSGD on Avalanche:

• Multi-Chain Availability: XSGD is available on multiple blockchains, including Ethereum, Polygon, Hedera, Zilliqa, and Avalanche.

• Integration with Avalanche: In 2024, StraitsX expanded XSGD's ecosystem by integrating it into Avalanche's Contract Chain (C-Chain). This integration leverages Avalanche's high transaction throughput and low fees to enhance XSGD's utility in DeFi applications.

• Liquidity on Avalanche DEXs: XSGD is supported on Avalanche-based decentralized exchanges (DEXs) like Balancer v2 and Pharaoh, offering users deep liquidity and efficient trading pairs such as XSGD/USDC and XSGD/WAVAX.

Benefits of XSGD on Avalanche:

• Enhanced DeFi Participation: Avalanche's fast transaction finality and low fees make it an ideal platform for XSGD, enabling users to participate in DeFi activities with greater efficiency.

• Deep Liquidity: Integration with Avalanche DEXs ensures that users can execute large trades with minimal slippage, improving the overall trading experience.

• Yield Opportunities: Users can engage in yield farming and liquidity provision using XSGD on Avalanche, potentially earning rewards while contributing to the DeFi ecosystem's liquidity.

By incorporating XSGD into Avalanche's DeFi landscape, StraitsX aims to provide users with a stable, efficient, and compliant digital currency option, enhancing the accessibility and utility of Singapore Dollars in the blockchain space.