How it works
The ARSx platform allows users to deposit ARS in the ARSx system to receive ARSx tokens in return.
Process step by step
Minting (Deposit Flow)
Users can mint ARSx tokens by depositing Argentine Pesos into our designated bank account:
User initiates a bank transfer to our official ARSx bank account using a unique CVU (Clave Virtual Uniforme).
The CVU is linked to the user’s wallet address via our onboarding process. This allows us to automatically identify the sender.
Upon receiving the deposit, our system verifies the transaction and triggers a minting process.
ARSx tokens are minted on-chain and sent directly to the user’s wallet address.
Every ARSx token minted corresponds to 1 Argentine Peso held in reserve. No tokens are created without matching collateral.
Using the tokens
Once the user has their tokens, they can use them to:
Transact instantly with other wallets, both locally and globally
Store value on-chain, pegged to the Argentine Peso
Remit funds across borders with minimal friction and cost
Pay for goods and services on platforms that accept ARSx
Interact with smart contracts and on-chain applications
Access decentralized finance (DeFi) protocols and explore new financial strategies
ARSx tokens are standard ERC-20 tokens, meaning they can be freely used in any ERC-20-compatible application, such as DEXs, wallets, or lending protocols.
We are actively working to expand the utility of ARSx across the ecosystem. This includes:
Swap Pools: Enabling low-cost swaps between ARSx and major crypto assets (e.g. USDC, ETH)
Lending Protocols: Supporting ARSx as collateral and enabling advanced DeFi strategies using yield-bearing or leveraged positions
Liquidity Pools: Offering returns by pairing ARSx with USD-pegged stablecoins and other assets
Redeeming (Withdrawal Flow)
To withdraw Argentine Pesos from the system, users redeem their ARSx tokens:
User transfers tokens to the ARSx smart contract burner address.
The smart contract burns the ARSx tokens.
Our system processes a bank transfer, sending the equivalent ARS amount to the user’s registered bank account.
ARSx is only burned when funds are guaranteed to be returned to the user in the traditional banking system.
Security and Compliance
Proof of Reserve: Our system is regularly audited, and every minting event corresponds to an actual deposit. Reserve balances are transparently published.
KYC/AML: CVU linkage ensures compliance with local financial regulations.
Smart Contract Transparency: ARSx contracts are open-source and verifiable on-chain.
Bank Integration: All fiat operations are handled through regulated and compliant banking partners.
Supported Chains
ARSx will initially launch on Base and World Chain, with support for additional blockchains planned in the near future.
Each supported chain operates with its own designated bank account for minting and proof-of-reserve verification. This ensures that all ARSx tokens are fully backed on a per-chain basis, maintaining transparency and accountability. At this stage, there is no official interoperability layer between chains. This means ARSx cannot be transferred directly from one chain to another.
We recognize the importance of seamless cross-chain functionality. As the ecosystem matures, we plan to integrate a secure interoperability protocol that enables users to move ARSx between supported blockchains safely and efficiently, without compromising the integrity of reserves.
Proof of reserve
To guarantee that every ARSx token in circulation is fully backed by real Argentine Pesos, we rely on a Proof of Reserve (PoR) system that is automated, transparent, and verifiable on-chain.
Our Proof of Reserve mechanism is powered by Chainlink nodes, which independently verify the balance of the designated bank accounts associated with each supported blockchain. These trusted oracles retrieve real-world data and publish it directly on-chain, ensuring that:
ARSx can only be minted when matching collateral is confirmed in a regulated bank account
Anyone can independently verify that the circulating supply of ARSx never exceeds the actual fiat reserves
Proof of Reserve updates occur regularly and automatically, without manual intervention
By leveraging Chainlink’s decentralized oracle network, we eliminate the need for users to "trust us", instead, they can verify reserve data transparently at any time, directly on the blockchain.
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