Introduction to XIDR Stablecoin
XIDR is an Indonesian Rupiah (IDR) stablecoin launched by StraitsX (PT Xfers StraitsX Indonesia, a subsidiary of Fazz Financial Group Pte Ltd in Indonesia). Its core objective is to peg to the Indonesian Rupiah at a 1:1 ratio, providing an efficient and cost-effective digital form of the Rupiah for the blockchain ecosystem. XIDR was officially launched on November 18, 2021, aiming to provide financial services to the unbanked and underbanked population in Indonesia and to promote the development of local fintech, blockchain, and digital assets sectors.
XIDR operates on two mainstream blockchains: the ERC-20 compatible Ethereum network and the ZRC-2 standard Zilliqa network, ensuring its broad interoperability across different ecosystems.
Uses and Value of XIDR
As a stablecoin, XIDR's primary value lies in its role as a stable store of value and unit of account denominated in Indonesian Rupiah within the digital assets market. Its main uses include:
- Medium of Exchange: Can be used in cryptocurrency trading pairs as a digital alternative to the Indonesian Rupiah.
- DeFi Applications: Provides liquidity, lending, and other operations within decentralized finance (DeFi) protocols.
- Fast Transfers: Enables low-cost, high-efficiency fund transfers globally.
As of the time of writing, StraitsX platform data shows that the total market capitalization of XIDR is 2,038,739,343 XIDR.
How to Acquire and Trade XIDR
1. Minting and Redemption via StraitsX Platform
Individual users can directly mint (exchange IDR for XIDR) and redeem (exchange XIDR back to IDR) XIDR through the official StraitsX platform. These operations are typically free of charge, though on-chain transactions may incur certain network fees.
2. Decentralized Exchanges (DEXs)
XIDR can be traded on decentralized exchanges that support Ethereum (ERC-20) and Zilliqa (ZRC-2) networks. Common supported platforms include:
- Ethereum Network: Uniswap
- Zilliqa Network: Zilswap, HaloDAO, VexSwap, LiteDex, Savvix, DFX finance
Users need to connect to these DEXs using a compatible Web3 wallet (such as MetaMask for ERC-20, or a Zilliqa native wallet for ZRC-2) to exchange XIDR for other crypto assets.
3. Centralized Exchange Platforms
Due to XIDR's relatively small circulating supply and trading volume, its listing on mainstream centralized exchanges is limited. Some platforms may provide XIDR price information or support its deposits and withdrawals, but may not necessarily offer active trading pairs. Please verify the listing status and liquidity of relevant platforms before trading.
4. Wallet Support
Any ERC-20 compatible Ethereum wallet (such as MetaMask, Trust Wallet, etc.) and ZRC-2 compatible Zilliqa wallet support XIDR storage and management. For users seeking higher security, hardware wallets like Ledger and Trezor are also reliable options for storing XIDR.
Important Note
As a stablecoin, XIDR's primary function is to maintain its value peg to the Indonesian Rupiah, not to serve as a speculative investment asset. Its price fluctuations are usually small, but temporary de-pegging may occur under extreme market conditions. Always conduct your own research and assess risks before engaging in any transactions.
