flex
USD
The world's first interest-earning stablecoin
The first of its kind, flexUSD is fully backed and redeemable with USDC and pays interest 3 times a day on chain.
Don't Mean to FLEX
Numbers aren’t everything, but sometimes they speak louder than words.
Don't Mean to FLEX
Numbers aren’t everything, but sometimes they speak louder than words.
7 DAY AVERAGE (APY)
16%
Market Cap
$320M
Total Interest Paid
$29M
Fully collateralized
flexUSD is fully backed and redeemable anytime at 1:1 with USDC.
Compound your interest 3x a day
Earn yield every 8 hours and get paid straight into your wallet of choice with no lockup periods and full access to your coins at all times.
Trading collateral
flexUSD can be used as collateral to trade any of our derivatives markets. Meaning you can trade crypto and earn interest at the same time.
Stablecoin Comparisons
| USDT | USDC | BUSD | FRAX | GUSD | ||
|---|---|---|---|---|---|---|
| Fully Collateralized | ||||||
| Pays interest daily | ||||||
| Multi-Network | ||||||
| Market Cap | $320M | $72B | $36B | $13B | $351M | $122M |
| flexUSD | USDT | USDC | BUSD | FRAX | GUSD | |
|---|---|---|---|---|---|---|
| Fully Collateralized | ||||||
| Pays interest daily | ||||||
| Multi-Network | ||||||
| Market Cap | $320M | $72B | $36B | $13B | $351M | $122M |
Want to learn more?
Let us run you through it
How to Mint flexUSD and Other flexAssets
November 15th, 2021
FAQ
A stablecoin is a type of cryptocurrency that aims to offer price stability, typically aiming to be 1:1 with the US Dollar.
Stablecoins offer the same benefits of any cryptocurrency – instant processing & 24/7 & 365 accessibility but also offer the peace of mind from the lack of volatility that fiat currencies offer.
flexUSD is fully backed by USDC, meaning, in order to get flexUSD you must swap USDC for it.
flexUSD automatically takes that USDC and deploys it into our Repo Market, where anyone who trades on CoinFLEX is able to borrow it. This turns flexUSD holders into lenders in our Repo Market.
To borrow from our Repo Market, traders pay what is called a ‘funding rate’ to the lenders (flexUSD holders).
This funding rate is paid every hour from the borrowers and creates the interest for flexUSD holders, which gets paid every 8 hours, directly into your wallet.
No! flexUSD will never pay a negative interest rate, meaning that even on its worst days you earn the same as holding USDC elsewhere — zero. On a good day, flexUSD can pay up to 20% APY. You can view the historic rates of flexUSD here.
Within CoinFLEX, flexUSD can be used:
To earn interest every 8 hours
As collateral for trading futures
As collateral for the AMM+
flexUSD has automated a ‘delta neutral basis trade’
In simple terms, this is a risk free trade where you profit from the price difference between the spot price and futures price of an asset whilst not taking any exposure to the ‘price risk’ of said asset.
The primary risk you have from holding flexUSD is what is known as ‘counterparty risk’ to CoinFLEX. This is the risk that CoinFLEX ceases to exist, stops operating, or steals users funds – we may be biased but we believe this risk is very low
1) Deposit USDC to CoinFLEX (learn how to do that here)
2) Go to https://coinflex.com/flexassets
3) Select ‘mint’
4) Enter the amount of USDC you want to exchange for flexUSD
5) Click ‘confirm’ and you’re good to go!
1) Go to https://coinflex.com/flexassets
2) Select ‘redeem’
3) Enter the amount of your flexUSD holdings that you want to ‘redeem’
4) Click ‘confirm’ & your USDC will be added back to your account during the next redemption period (which happens every 8 hours)
a) For immediate redemption click on the drop down menu by ‘You will receive:’ and select ‘immediate redemption’.
b) This will give you your USDC straight away for a small fee.
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