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xAssets

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xASSETS

Decentralized Synthetic Assets Platform on CrossFi Chain

xassets.ms

Overview​

What is xAssets?

xAssets is a decentralized application (dApp) within the CrossFi ecosystem, designed for issuing and exchanging synthetic assets, as well as providing convenient access to decentralized trading and risk management.

With xAssets, users can easily mint the overcollateralized stablecoin XUSD, trade synthetic analogs of traditional financial instruments, and manage their assets without KYC requirements.

Documentation

For a detailed technical overview of all components, please refer to the full xAssets documentation.

Key Features of xAssets​

Mint (Issuing XUSD against collateral)​

The Mint function allows users to lock up crypto assets and issue XUSD — a stablecoin used for trading synthetic assets or performing other operations within the ecosystem.

Currently Supported Assets:

  • XFI - Native CrossFi token (currently the only supported collateral)

Potential Future Support:

  • WETH - Wrapped Ethereum
  • WBTC - Wrapped Bitcoin
  • WSOL - Wrapped Solana

How it works:

  1. Asset Selection & Deposit - The user selects and deposits assets into the Collateral Pool
  2. Collateralization Calculation - A smart contract calculates the allowable amount of XUSD to mint based on the collateralization ratio
  3. XUSD Issuance - The user receives XUSD, which can now be used for trading or swapping

Swap (Exchanging synthetic assets)​

With the Swap function, users can exchange XUSD for various synthetic assets (e.g., xAAPL, xXAU, and others) that closely follow real-world asset prices via oracle data. This mechanism enables access to global markets directly from the CrossFi blockchain.

How it works:

  1. Asset Selection - The user selects XUSD and the desired synthetic asset for the swap
  2. Token Processing - The protocol burns a portion of the XUSD (reducing system debt) and mints the chosen synthetic token based on oracle-provided pricing
  3. Asset Delivery - The synthetic asset is sent directly to the user's wallet

Swap Restrictions and Fees​

  • After a swap, the destination synthetic asset becomes temporarily restricted until settlement completes.
  • Settlement delay: ~3 minutes. The final received amount may be recalculated at settlement using the latest oracle price.
  • Fees (per docs):
    • Protocol Fee — portion directed to the protocol treasury
    • Rewarder Fee — distributed among debt position holders
    • Burn Fee — permanently burns a portion to reduce total system debt
    • A small amount of XFI is attached by the user to pay the gas for permissionless settlement
  • Slippage/limits: the swap interface uses minAmountOut (slippage protection) and supports previewSwap to estimate output. Final settlement amount may differ due to oracle updates.

Supported Synthetic Assets​

  • XAU (Gold)
  • AAPL (Apple Inc.)
  • NVDA (NVIDIA Corporation)
  • AMZN (Amazon.com, Inc.)
  • MSFT (Microsoft Corporation)
  • NFLX (Netflix, Inc.)

References: Swap → Swap Settlement; Swap → Restrictions; Developer → Exchanger/SynthDataProvider

Trade​

The Trade function enables users to speculate on price movements using virtual leverage, without needing to borrow real funds. All profits and losses are reflected in the collective debt pool.

Current Status
  • Status: Deployed on mainnet
  • Availability: Will be connected and activated after DeFi ecosystem launch
  • Mechanism: Perpetual margin trading occurs against a collective debt pool (counterparty is XUSD issuers)
  • Price feeds: Uses on-chain oracle feeds for real-time pricing

Escrow​

The Escrow function is designed for temporarily locking assets to facilitate complex financial operations such as options, futures, and other contract-based agreements requiring asset guarantee.

Current Status

Status: ✅ Live on Mainnet - Fully operational and available for use

Key Features:

  • On-chain marketplace to buy/sell commodities for XUSD with dispute resolution via a Guardian
  • Security deposit: currently 20% of offer price for both buyer and seller (may be adjusted by the team)
  • Deal data stored on IPFS, URIs recorded on-chain (immutability; public visibility)

Collateral & Debt Mechanisms​

Collateral Pool​

🏦 What is the Collateral Pool?

The Collateral Pool is the aggregate of all user-deposited assets used as backing for minted XUSD. It serves as the backbone for ensuring the stability of the stablecoin and system operations.

💰 Currently Supported Assets

  • XFI - Native CrossFi token

🔮 Potential Future Support

  • WETH - Wrapped Ethereum
  • WBTC - Wrapped Bitcoin
  • WSOL - Wrapped Solana

Debt Pool​

Important Mechanism

The Debt Pool is the total collective debt generated by all users who mint XUSD. It fluctuates based on traders' profits and losses. As traders earn profits, the overall debt increases; losses reduce it. This ensures fair redistribution of risk and responsibility across all participants.

Risk Controls & System Stability​

Health Factor (HF)​

The Health Factor indicates the safety level of a user's position. If the HF drops below 1, the position becomes subject to liquidation.

Health Factor Formula

HealthFactor=(CollateralValue/DebtValue)∗LiquidationRatioHealth Factor = (CollateralValue / DebtValue) * LiquidationRatio

Users are encouraged to monitor their HF to avoid liquidations and ensure collateral safety.

Burn Fee​

🔥 Burn Mechanism

Each Swap operation includes a burn mechanism where a portion of the involved tokens is permanently destroyed.

⚖️ System Stability

This helps reduce overall debt and stabilize XUSD by limiting synthetic supply growth.

Benefits and Business Impact​

Platform Benefits​

🌍 Global Market Access

xAssets offers decentralized access to global financial markets along with fast, low-cost transactions powered by the CrossFi blockchain.

🔒 User Control

The platform's design ensures that users maintain complete control over their assets through smart contract operations, making the processes of minting, swapping, and trading both intuitive and secure.

💼 Business Impact

From a business perspective, xAssets enhances the utility of the native token XFI, increases liquidity by boosting Total Value Locked (TVL), and creates a revenue stream through swap and trading fees.

🚀 Ecosystem Growth

These factors not only strengthen the CrossFi ecosystem but also contribute to sustained growth and innovation.

Key Advantages​

Why Choose xAssets?
  • No KYC requirements for accessing global markets
  • Overcollateralized stablecoin ensuring system stability
  • Synthetic assets tracking real-world prices via oracles
  • Decentralized trading without traditional intermediaries
  • Smart contract security with transparent operations
  • Cross-ecosystem integration within CrossFi Chain

xAssets represents the future of decentralized synthetic assets, providing users with unprecedented access to global financial markets while maintaining the security and transparency of blockchain technology.

Oracles and Price Updates​

Oracle Providers:

  • The protocol uses trusted oracles: DIA Oracle and Stork Oracle for price feeds of real-world assets and swap settlement

Technical Details:

  • The oracle adapter exposes getPriceWithTimestamp(token) and precision() (equals 1e18)
  • Update Frequency: 120 seconds (2 minutes)
  • Settlement uses the latest available oracle price after the delay period