Basix is a synthetic dollar protocol on Arbitrum, designed to provide users with embedded basis yield from low volatility strategies across spot and perpetual decentralized exchanges (DEXs). The protocol issues Basix USD (USDx), a synthetic dollar. Basix improves on the user experience and efficiency by offering direct deposit and redemption of USDC as collateral with plan to extend its services to other crypto assets like Basix BTC (BTCx).