CXDR Preliminary Whitepaper: Building a Diversified Stablecoin for a Global Economy
I’m excited to share the first public draft of the CXDR white‑paper, now live on canhav.com. CXDR is the fiat‑backed stablecoin that tracks the IMF’s Special Drawing Rights (SDR) basket rather than a single currency, giving businesses and DeFi builders a built‑in hedge against dollar‑only exposure. The document outlines CXDR’s reserve model (103 % collateral in five major currencies), multi‑sig treasury controls, and roadmap to on‑chain roll‑ups for sub‑cent transfers.
Why release a “preliminary” paper?
Stablecoin rules are hardening fast. In Europe, MiCA’s stable‑value provisions took effect last year; North America, the GCC and several APAC regulators are drafting similar frameworks. Rather than wait for every jurisdiction to settle, we’re publishing our architecture early so developers, auditors, and policymakers can see where we’re headed and help us stress‑test assumptions.
What’s coming in the next revision
Over the next quarter, I’ll extend the paper in three key areas:
Regulatory alignment — mapping CXDR’s governance, segregation of reserves, and disclosure cadence directly to MiCA Title III as well as draft bills in Canada and the U.S.
Layer‑2 implementation details — benchmarking leading roll‑ups and specifying the settlement path we’ll use for high‑volume, low‑fee payments.
Expanded use‑case library — concrete flows for FX‑hedged payroll, SDR‑denominated derivatives, and balanced‑currency treasuries for DAOs and multinational firms.
Moreover, I’ve also fold in the community’s open‑source security reviews and publish a public issues log so anyone can track progress.
How you can help
If you issue payments, build DeFi protocols, or set policy around digital assets, we’d value your critique. You can download the PDF on the canhav website and annotate sections directly, or reach out to me directly at waz@canhav.com
The aim is simple: ship a fully compliant, transparently collateralized, and globally neutral stablecoin that meets modern payments' needs, not just crypto trading.
Stay tuned for the next iteration, and thank you for helping shape CXDR into the diversified standard the market has been missing!