Review on USDX by Stephen Toluwani
Project went down due to lack of Investors
The basic concept underlying the stable value of the USDX token was to get it pegged to the USD and collateralize same with the LHX token. Why it's concept to make it a stablecoin via this method was stupid is simply due to the undeniable fact that the LHX token was not much of anything that could make Investors interested in buying. Yes the token had it's very own Blockchain that allowed for transactions to be executed with no fees via it's wallet and a TPS higher than MasterCard and Visa combined, utility for the LHX was limited and maybe, marketing wasn't enough to get people understand why LHX was important (that's even if it was ever important). With the declining value of LHX came the end of USDX as it's stable value couldn't be maintained. The project is dead and closed somewhat because I can still see it's Android mobile wallet application on the Google Playstore whereas on its Telegram group, it has officially stated that the have ended support for the project in totality due to the low number of investors
Pros
- The project was very promising.
Cons
- The project couldn't get a lot of investors which led to the death of it
