Last USD (USDXL) stablecoin analytics
USDXL is Last's synthetic dollar minted as CDP-style debt against blue-chip collateral on HypurrFi (Aave-V3 fork on HyperEVM), with no public redemption rail.
Static Profile
Static stablecoin profile
Last USD (USDXL) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.
AI summary / Updated May 15, 2026
Last USD (USDXL) is a CDP-style synthetic dollar minted on HypurrFi (Aave V3 fork on HyperEVM), drawn against HYPE, HYPE LSTs, UBTC, and ETH collateral with liquidation as the only peg defense. Last USD (USDXL) is a crypto-collateralized synthetic dollar minted on HypurrFi, an...
AI summary · drafted by claude-opus-4-7 · reviewed by @TokenBrice on May 15, 2026 · facts as of May 15, 2026
- Collateral
- Position-backed synthetic dollar minted against blue-chip overcollateralized positions on HypurrFi's Aave V3 fork on HyperEVM, with protocol-owned liquidity and stablecoin reserves including USDT0 supporting secondary liquidity. Eligible borrow collateral includes HYPE and HYPE LSTs, bridged BTC, and ETH.
- Peg Mechanism
- Users open overcollateralized CDP-style borrows on HypurrFi and mint USDXL against their position; repayment burns the synthetic dollar. Liquidations and protocol-owned liquidity defend the peg, but public docs do not describe an enabled direct 1:1 holder redemption against issuer reserves.
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- 2 deployments tracked across HyperEVM and Hyperliquid L1.
Snippet Answer
Is USDXL safe?
Pharos does not mark USDXL as absolutely safe. Static metadata says Last USD uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with curated reserve profile; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Next Actions
Exact bot target: /subscribe dews,depeg,safety usdxl-last
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated May 15, 2026.
USDXL quick answers
What is Last USD (USDXL)?
USDXL is Last's synthetic dollar minted as CDP-style debt against blue-chip collateral on HypurrFi (Aave-V3 fork on HyperEVM), with no public redemption rail. The static profile records its US Dollar peg mechanism as: Users open overcollateralized CDP-style borrows on HypurrFi and mint USDXL against their position; repayment burns the synthetic dollar. Liquidations and protocol-owned liquidity defend the peg, but public docs do not describe an enabled...
What backs USDXL?
Pharos classifies USDXL backing as Crypto-Collateralized. Collateral, per the static profile: Position-backed synthetic dollar minted against blue-chip overcollateralized positions on HypurrFi's Aave V3 fork on HyperEVM, with protocol-owned liquidity and stablecoin reserves including USDT0 supporting secondary liquidity. Eligible... Reserve evidence: curated reserve profile.
Can USDXL be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Live freeze and blacklist events for USDXL, when applicable, appear in the dossier below.