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About Last USD
USDXL (Last USD) is a yield-bearing hybrid stablecoin native to the Last ecosystem, operating as a cashflow-generating asset across the HyperEVM and Hyperliquid networks. It utilizes a dual-backing mechanism that allows users to mint USDXL against over-collateralized blue-chip crypto assets, while protocol and chain revenue are directed toward purchasing tokenized U.S. Treasuries to back additional issuance. This architecture supports a stable, exportable asset that distributes rewards to participants within the decentralized finance (DeFi) ecosystem.
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