UXD Protocol · interactive mechanism simulation

Users deposit collateral and mint UXD 1:1 — the protocol simultaneously opens an equal-size short perp on a derivatives venue (Mango Markets), so spot + short = a delta-neutral $1 of backing per UXD. Funding flows between the venue and the insurance fund; UXP is the recapitalization backstop of last resort. Edit the parameters, or stress-test the single-venue concentration risk that nearly broke the peg in Oct 2022.
Users deposit / redeem UXD program mint 1:1, cap $40M Mango Markets short perp venue Backing vault $0.0M spot + short Insurance fund $57.0M UXP backstop 0 UXP minted Peg & supply $1.0000 · 0.0M UXD
Deposits simulated
0
UXD supply
$0.0 M
Backing vault (frozen)
$0.0 M
Insurance fund
$57.0 M
Peg
$1.0000
Parameters — edit me
1.2/s
+0.4%
$57M
45%
$40M
Controls

Illustrative simulation. Defaults mirror the researched UXD Protocol mechanism (1:1 delta-neutral minting on Mango Markets, a $57M insurance fund from the 2021 UXP IDO, a guarded launch supply cap), but deposit sizes and timing are randomized for visualization — not live onchain data. The peg held through the real October 2022 Mango exploit because the insurance fund exceeded the frozen exposure; crank up "Mango exposure" or shrink the insurance fund and trigger the exploit to see the peg break and the UXP backstop recapitalize it. Part of The Onchain Experiment Atlas.