CONTROLLED PILOT · TESTNET ONLY · NOT LIVE FOR VALUE

USDXX WHITE PAPER

The digital dollar
built to prove.

USDXX is a proposed digital dollar by LYNXX. One USDXX is designed to be worth one US dollar, with a real dollar held for every USDXX. This paper explains how it is designed to work, what has been built and tested, and what must be in place before launch.

Version 0.1 · draft for review · October 2026

Not launched yet. USDXX runs only on test networks. No real money is involved. This paper describes a design, not a live product.

1Summary

USDXX is a digital dollar. It is meant for paying and settling, not for speculation. Its value is designed to stay at one US dollar because every USDXX is created only when a dollar is received, and removed when that dollar is paid back out.

  • Backed 1:1. Reserves are held separately from company money, in cash and short-term U.S. government assets.
  • Simple to use. People use USDXX through their Indexx account in Indexx Pay. They need no crypto wallet and pay no network fees.
  • Provable. Every payment gets a public receipt on the blockchain, and total supply can be checked against reserves.
  • Controlled. Creating or removing USDXX always needs two of three company signers. No server can do it alone.
  • Compliance first. Issuance is planned through a licensed issuer partner, under the rules of each market served.
  • Still a pilot. Everything in this paper has been built and tested on test networks only.

2Why USDXX

Digital dollars are already widely used. Three gaps still keep them from serving people and businesses well. USDXX is designed to close all three together.

GapThe problemThe USDXX answer
TrustHolders need to know every token can be turned back into a dollar.Separate 1:1 reserves, a monthly independent report as the target, and supply shown next to reserves.
AccessExchanges, payment companies and shops need the same dollar across borders and blockchains.One asset identity on every approved chain, with simple ways to pay in and cash out.
OperationsAn issuer needs compliance, treasury, security and support that grow together.A whole operating system: reserves, redemption, controls and monitoring, not only a smart contract.

3What USDXX is

Three names are used in this paper. They sit at three layers.

USDXX

The digital dollar. It is what people hold, send and cash out.

Indexx Pay

Where people buy, spend, send and receive USDXX with their Indexx account.

LYNXX

The company behind USDXX. It holds the technology and the partnerships.

USDXX is not an investment and is not meant to rise in value. It has no fixed or limited supply. It is never created from nothing: not from mining, not from games, and not from promotions.

4Reserves and redemption

The design target is that reserves are always worth at least as much as all USDXX in existence. Reserves belong to holders as backing. They are not company operating cash and not fundraising capital.

Reserve assetPurpose
Cash and bank depositsReady money for same-day cash-outs.
Short-term U.S. TreasuriesThe main reserve asset.
Overnight Treasury repo and government money market fundsAllowed only as liquidity tools.

No part of the reserve is held in Bitcoin or any other asset whose price moves sharply. An independent reserve report every month is the target, with USDXX in circulation shown next to dollars in reserve.

At launch, creating and redeeming USDXX directly would run through a licensed issuer partner for approved participants, with a target of same-day to next-day payment.

5How supply works

There is no set number of USDXX. Supply grows when dollars come in and shrinks when they go out.

  1. Dollars come in

    Someone buys USDXX. Their dollars go into the separate reserve account.

  2. USDXX is created

    The same amount of USDXX is created. Never more than the dollars received.

  3. USDXX is used

    It is sent, spent and received like money, at any hour.

  4. Someone cashes out

    Their USDXX is removed and the dollars are paid back from the reserve.

During launch a safety limit applies to the total supply, so the system starts small while every part is checked. The limit is raised step by step after reviews. It does not make USDXX scarce and does not change its value.

6How payments work

People use USDXX like ordinary money. The blockchain work happens behind the scenes, in three stages.

Instantly

The payment moves in the Indexx Pay ledger

No crypto wallet, no network fee and no blockchain words for the customer.

Within seconds

A receipt is written to the blockchain

Each payment gets its own public proof. The company pays the fee. No names, emails or account numbers are published.

Once a day

Supply is settled on the blockchain

All balances are compared with the blockchain. One change is proposed, and two of three company signers must approve it.

Because sending and spending happen inside the ledger, they are instant and free. The blockchain is used for proof and for settlement, once a day, for everyone at once. If the blockchain is slow, payments still work; only the receipt arrives later.

7Technology

USDXX is made of a small number of contracts, each with one job. In the pilot they run on test versions of Ethereum and Base.

PartWhat it does
USDXX tokenThe money itself. Its code cannot be changed after it is deployed. It has separate roles for administration, creating, pausing and freezing, a pause switch, a lawful freeze, and a supply limit for launch.
BridgeMoves USDXX between blockchains by removing it on one and creating the same amount on the other, so the total never changes. It carries a limit per transfer and refuses repeated or untrusted messages.
MessengerCarries the bridge message between blockchains. It is built on LayerZero’s official contracts and only trusts its own partner on the other chain.
Payment recorderWrites one receipt for each payment and refuses duplicates. Its key can write receipts and nothing else.
Customer walletsGive each Indexx Pay customer their own USDXX address on the blockchain, managed by the company Safe.
Company SafeA shared company account that owns every contract. Any action needs two of its three signers.

One USDXX on every chain

USDXX has one identity across blockchains. Moving it between chains uses three steps, so nothing is ever created twice.

  1. Remove

    The sender’s USDXX is removed on the chain it is leaving.

  2. Verify

    LayerZero’s independent verifier checks that the message is genuine.

  3. Create

    Exactly the same amount is created on the other chain.

8Controls

One rule guides every control: money moving between customers never waits for approval, and money being created, removed or controlled always does.

  1. Customer payments

    Buying, sending, paying, refunds and cash-out requests.

    Instant. No company approval is needed, because the money already exists and is backed.

  2. Automatic jobs

    Writing receipts and proposing the daily settlement.

    Run by keys that cannot create, move or freeze USDXX.

  3. Creating or removing USDXX

    The daily settlement, pausing the bridge, changing who is in control.

    Two of three company signers must approve.

  4. Unusually large or odd changes

    A daily change above the set limit.

    Stopped. People review it before anything is proposed.

Two of three signers means one stolen key is not enough, one absent person does not block the others, and every change is seen by a second person.

9Privacy

The blockchain shows what proves the system is sound, and nothing that identifies a person.

Public

Total supply, creation and removal of USDXX, and a receipt for each payment with its kind, amount and time.

Private

Names, emails and account numbers. Accounts appear only as scrambled codes that cannot be read back.

Each receipt carries a fingerprint of the full receipt the customer sees, so a customer can show that their receipt matches the public record.

10Compliance

USDXX follows the rules of each market it enters, through a licensed issuer partner. It does not rely on regulatory grey areas.

MarketFrameworkWhat it asks for
United StatesGENIUS ActA permitted-issuer framework with 1:1 reserves, anti-money-laundering duties and the ability to freeze when the law requires.
European UnionMiCAE-money token rules: issuer authorisation, reserve and redemption duties.
Hong KongStablecoins OrdinanceLicensing by the HKMA for issuing and offering fiat-referenced stablecoins.

Identity checks apply to cashing out and to larger activity. Sanctions screening, limits and review of unusual activity are part of the design. Which countries are served, and how, is for legal counsel to confirm before launch.

11USDXX Earn

Holding USDXX pays no interest. It is a payment asset that stays at one dollar.

USDXX Earn is a separate program that people may choose to join. A customer locks USDXX for 3, 6 or 12 months and receives a reward each month. The proposed rates are 7%, 9% and 12% a year. Rewards are paid by Indexx Pay from a budget set aside in advance, not by the USDXX issuer and not from the reserve. When the budget cannot cover a new lock, new locks are refused.

Proposed, not live. Earn rates, terms and eligibility depend on legal approval and may differ by country.

12USDXX and BTCY

BTCY is the reward token of Bitcoin Yay. Its price moves, and it carries no promise of one dollar. USDXX and BTCY are different things, and they connect by one rule.

A dollar must come in before any USDXX goes out.

BTCY becomes USDXX only when it is sold to a real buyer. The buyer’s dollars go into the reserve, and the same amount of USDXX is created. USDXX is never created directly from mining or from the Alchemy feature, because that would create USDXX with no dollar behind it.

13The testnet pilot

The design in this paper has been built and run on test networks, with test money only.

2test blockchains

Ethereum Sepolia and Base Sepolia, with the same contract addresses on both.

33 of 33bridge transfers delivered

None lost and none doubled. The total supply matched exactly at the end.

2 of 3signers for every change

The company Safe owns the token, bridge and messenger. The deployer holds nothing.

51 of 51automated tests passing

Covering the token, the bridge, the payment recorder and the backend.

The pause switch and the limit per bridge transfer were both tested on the live test contracts, and both refused as designed. Four faults were found and fixed during the pilot, before any real money.

14Roadmap and launch gates

StageTargetWhat happens
DesignQ3–Q4 2026Legal route, issuer and bank partners, architecture and audit plan.
BuildH1 2027Reserve reconciliation, security audit and sandbox.
LaunchH2 2027Private beta with the first exchange or wallet partner.
Scale2028 onwardsMore payment corridors, more blockchains, treasury tools for institutions.

Four gates before real money

No USDXX is issued for value until all four gates are closed.

  1. Assurance

    An independent audit of the contracts, an internal code review and a security review of the backend, followed by a bug bounty.

  2. Control

    A real-money company Safe held by three people on three devices, keys kept in a vault, no server able to create USDXX, and LayerZero’s security settings chosen explicitly.

  3. Reserves

    Reserve bank, custody, attestation and licensed-issuer partners signed. Reserves shown to cover every USDXX, and checked every month.

  4. Compliance

    Legal sign-off on the issuer, on redemption and on the countries served. A sanctions-screening provider chosen. Treasury and accounting review.

15Risks

USDXX is designed to be stable, but no design removes every risk. The main ones are listed here in plain words. The full Risk Disclosure Statement goes further.

Regulation
Rules for stablecoins are new and differ by country. They can change what USDXX may offer, where, and to whom.
Partners
USDXX depends on a licensed issuer, reserve banks, custodians and payment providers. Losing one can pause buying or cashing out.
Reserve assets
Even cash and short-term government debt carry bank, market and timing risk.
Technology
Smart contracts, bridges and servers can have faults. Audits reduce this risk; they do not remove it.
Operations
Mistakes in settlement or key handling are possible. Two-of-three approval, limits and daily checks are there to catch them.
Freezing
USDXX can be frozen when a court or regulator lawfully requires it.
Timing
Dates in this paper are targets. Each stage waits for partners, legal clearance and security testing.

16Important notice

This paper is for information only. USDXX is a proposed reserve-backed digital dollar by LYNXX, in a controlled testnet pilot. It is not live for value. The one-dollar target, the reserve model, redemption, rates, dates and figures in this paper are design targets. They depend on partner, legal and regulatory review and may change.

Nothing in this paper is an offer or a solicitation, and nothing in it is investment, legal or tax advice. USDXX is not an investment and is not meant to rise in value.

Version 0.1 · draft for review · October 2026