BabelFish

BabelFish is a stablecoin aggregation protocol on Rootstock that absorbs USD-pegged stablecoins from multiple chains into one collateral basket and issues the meta-stablecoin XUSD one-to-one, letting users deposit accepted stablecoins, receive XUSD, move it across supported protocols and chains, or redeem at will. Governance sits with FISH holders, who vote on which stablecoins enter the basket, lending ratios, and budget allocation, with basket composition and limits adjusted by vote, and minting and redemption executed instantly by contract.

Basket constituents include Sovryn DLLR, bridged USDT, USDC, and DAI, and Money on Chain's DOC. Third-party rating platform Pharos gave it a D safety grade in October 2026. It also notes that DEX liquidity is concentrated in Sovryn alone, leaving collateral price depth dependent on a single venue. Basket addresses and balances are checkable in a block explorer, letting holders verify composition themselves.