Metal Dollar

Metal Dollar (XMD) is a stablecoin index composed of reserve-backed US dollar assets. Governed by the Metal DAO, it offers on-chain transparency, 1:1 redeemability, and serves as the primary trading pair on Metal X.

Originally launched on the XPR Network, XMD is powered by zero gas fees, making it uniquely attractive for high-frequency trading, cross-border transfers, and everyday payments without the cost burden typical of other blockchain ecosystems.

XMD is fully collateralized by a diversified basket of non-algorithmic, fiat-backed stablecoins, such as USDC (Circle), PYUSD (PayPal), and USDP (Paxos). By aggregating multiple issuers, XMD minimizes reliance on any single counterparty while maintaining a 1:1 soft peg to the U.S. dollar. Smart contracts handle minting, redemption, and rebalancing, ensuring a trustless, auditable, and efficient system.

XMD is the primary trading pair on Metal X, the largest decentralized exchange on XPR Network by Metallicus, offering deep liquidity and fast, feeless trades. As part of the broader XPR Network ecosystem, XMD also supports settlement, DeFi protocols, cross-border payments, and e-commerce, all with instant finality and no gas costs.

Governance is driven by Metal DAO (MTL), where token holders vote on protocol upgrades, asset composition, and integrations. Financial institutions can submit proposals to Metal DAO to have their own stablecoins included in the XMD reserve basket, creating a compliant, interoperable path to digital asset issuance and indexation.

With a focus on performance, security, and decentralized oversight, Metal Dollar (XMD) serves as a foundational stablecoin layer for the next generation of internet-native finance, bridging traditional reserve-backed stability with scalable, gasless blockchain infrastructure.