USDx is an ERC-20 stablecoin based on Ethereum. It is automatically minted from a basket of high-quality US dollar stablecoins through smart contract decentralization. Users can convert the component stablecoins into USDx by weight through the minting agreement (1 USDx = 0.35 USDC + 0.35 PAX + 0.3 TUSD), or you can burn USDx and get back a basket of constituent stablecoins. The minting and burning processes are all implemented on the chain, ensuring highly transparent, non-tamperable, and reviewable operations. In the future, the category and weight of constituent coins will be changed through community voting governance.