The decentralized & permissionless stablecoin with on-chain proof of reserves.
USPD can be minted by depositing ETH into the smart contract. Depositors receive USPD proportionally to the USD value of their deposited ETH. ETH can be redeemed from the smart contract by burning a corresponding amount of USPD. USPD cannot be frozen or seized.
Stabilizers guarantee a constant USD value of the stETH in USPD’s reserves and earn 27% interest. On top of the earned interest, stabilizers can also choose to over-collateralize their on-chain margin. Or they can also hedge their ETH with short futures and put options.
USPD ensures full transparency by maintaining real-time visibility of its reserves, fostering trust and reliability among users.
USPD is designed with an over-collateralized structure, providing a robust buffer against market volatility and enhancing stability.
USPD operates on a non-custodial basis, ensuring that users retain complete control over their assets without intermediary oversight.
USPD allows for seamless and unrestricted conversion to and from ETH at any time, offering unparalleled flexibility and accessibility.
Decentralized nature makes USPD assets immune to freezing, guaranteeing uninterrupted access and control for users, regardless of external factors.
USPD does not have any exposure to banks or the traditional financial system.
USPD
USDC
DAI
FDUSD
Decentralized
Yes
No
Yes
No
Transparent Reserves
Yes
No
No
Yes
Independent from Banks
Yes
No
Yes
No
Sovereign & Unregulated
Yes
No
No
Yes
Deposit ETH to get equivalent USPD. Redeem ETH by burning USPD. USPD can be minted by depositing ETH into the smart contract. Depositors receive USPD proportionally to the USD value of their deposited ETH.
ETH can be redeemed from the smart contract by burning a corresponding amount of USPD. A fee of 10 basis points is charged on deposits and redemptions and put into an insurance fund. USPD cannot be frozen or seized. Its smart contract is not ownable or upgradeable. All ETH held by the smart contract is automatically converted into stETH to provide ~4% annual yield.
USPD remains stable during crypto bull markets. Rising ETH prices generate excess collateral. Excess collateral covers short losses.
USPD remains stable during crypto bear markets. Falling ETH prices generate short profits. Short profits top up collateral.
USPD’s upper issuance limit increases in lockstep with the capital available for hedging. You can become an LPs Permissionless Technologies by locking USPD into a smart contract for 1-4 years and receive 27% APY. Not available for US persons.
CEO & Founder of
Morpher, Quantiacs
10+ years in quant finance
MS Technical Mathematics
Managing Partner
CMCC Global & Crest
Pioneer of on-chain analysis
BS Engineering
CTO of
Morpher, Bitcoders
Teaching blockchain to 130k developers
MS Computer Science
