Axis vaults
About Axis
Axis offers the USDx synthetic dollar and the sUSDx rewards vault, where USDx holders receive a growing claim on USDx rewards.
The current listing contains $41.9M TVL in 1 vault with a TVL-weighted average APY of 22.4% (annualised, last 30 days).
Axis operates a market-neutral arbitrage strategy and issues USDx, its synthetic dollar. Its published trading strategy overview describes cross-venue and cross-currency arbitrage as the core strategies, supported by delta-neutral hedging and funding-rate arbitrage. Users can stake USDx into the Axis Rewards Vault and receive sUSDx, a position whose USDx value grows as rewards vest into the vault. Axis says that rewards are discretionary, are not a fixed yield promise, and depend on the protocol's funding and vesting decisions.
The reviewed deployments are the current V2 sUSDx vault on Ethereum and the legacy V1 vault on Plasma. Axis's staking contract reference identifies both contracts. V2 uses an asynchronous redemption request, cooldown, servicing and claim flow. V1 instead has a configurable cooldown: direct redemption is available while the cooldown is disabled, otherwise a holder must complete its cooldown and unstake flow. Holders remain exposed to USDx market and liquidity risk, reward-delivery risk, and any applicable redemption delay.
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| 3M price | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Staked USDx Axis | 22.4% | --- | 1.9% | 65.8 | 0.3% | 0.0% | USDx | $41.93M $41.93M | 0.1 | 0.0%/ 0.0% | Unknown | Severe |  |
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