Recently, I saw the Nexus USDX stablecoin pop up while browsing X, so I clicked in to check out their blog. Just a quick summary to avoid forgetting in a couple of days.

Basically, it's their own stablecoin backed 1:1 by government bonds and cash, managed through M0. It can be directly exchanged from ETH for USDC or other tokens, and in the future, all on-chain transactions will default to using it for settlement.
That GYDS yield sounds pretty funny—distributed to builders and protocols based on TVL, not directly to retail investors. It means the more you use and integrate, the more you can indirectly earn from the government bond yield. Early on, they might leverage some NEX tokens, but the core idea is to motivate ecosystem builders to integrate and use more, creating a cycle.
The overall concept seems to be paving the way for their verifiable finance system, aiming to lock all liquidity within their ecosystem. The fragmented stablecoins outside are all settled here. It makes sense logically, but in crypto projects, they usually craft a compelling narrative first—how much yield can there really be in the end? Government bond yields are only around 4-5% now, so if the ecosystem doesn’t explode, it’s all for nothing.
Anyway, the project is still early, just a casual note for gossip.
#nexusUSDX