apxUSD

apxUSD is a synthetic dollar stablecoin designed to track the value of one US dollar and to circulate across decentralized and centralized finance platforms. It is issued by the Apyx protocol, which presents itself as the first stablecoin backed by preferred equity in publicly listed companies that hold digital assets on their balance sheets and pay monthly cash dividends. The token is aimed at users who want a dollar-denominated instrument that can move freely through DeFi and CeFi without itself distributing yield.

The Apyx protocol acquires preferred shares issued by what it calls Digital Asset Treasuries, companies listed on public markets that hold digital assets and pay dividend income on those shares; these preferred shares serve as collateral backing apxUSD at a ratio the protocol describes as over 100 percent. apxUSD itself does not pass yield to holders; instead, users who want exposure to the underlying dividend income must lock apxUSD into a separate ERC-4626 vault token called apyUSD. The token exists across multiple networks including Ethereum, BNB Chain, Solana, and Base, and the protocol manages collateral quality through daily net-asset-value reporting, issuer-concentration limits, liquidity thresholds, and stress testing.

The data stored for apxUSD does not include a protocol fee stream, so fee-based measures such as revenue or fee yield are not available on this page and cannot be calculated from the figures provided. The protocol's economic activity is linked to the off-chain dividend income flowing from preferred shares, which is redirected into the apyUSD vault rather than distributed to apxUSD holders. The circulating stablecoin supply stood at approximately 312,863,600 tokens at the most recent point-in-time reading, and that figure declined by roughly 4.45 percent over the trailing 30 days.