USDx is a decentralized and synthetic indexed stablecoin introduced by dForce as the first and cornerstone protocol. It is 1:1 pegged to a basket of constituent stablecoins, integrated with interest bearing capability. USDx's initial underlying portfolios include USDC, TUSD, PAX and DAI (1 USDx = 30% USDC, 30 %TUSD, 30% PAX and 10% DAI), which can be adjusted by on-chain governance. The synthetization and disaggregation of USDx is wholly on-chain to ensure maximized transparency, immutability and auditability.