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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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USPD Beta now live on Mainnet+++
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How USPD Works
Scroll down to learn how minting USPD works, how Stabilizers provide overcollateral, how Liquidations and Overcollateralization stabilize the system.

The Problem: Volatile Assets

Meet Alice. She has 1 ETH worth $4,000, but she's tired of the constant price volatility. She wants stable purchasing power without giving up the benefits of DeFi.

Limited Stablecoin Options

Alice's options are limited: centralized stablecoins require trust in banks, while other decentralized options either don't generate yield or require complex position management. She needs something better.

User

Enter USPD

USPD offers what Alice needs: a permissionless, yield-bearing stablecoin. She can mint USPD with her ETH and let the system handle everything else. No position management required.

User
USPD Logo

Behind the Scenes: Stabilizers

What makes this possible? Stabilizers - sophisticated actors who have already deposited ETH into the system and set their desired collateralization ratios. They provide the overcollateral that backs USPD.

Stabilizer
User

Stabilizer Escrow

10 ETH
Available Collateral
Ready to Match Users
150% Ratio

Alice Mints USPD

Alice simply deposits her 1 ETH (worth $4,000) to mint 4,000 USPD. The system automatically matches her with available stabilizer collateral. It's that simple - no complex setup required.

Stabilizer
User

Stabilizer Escrow

10 ETH
Available Collateral

Position Escrow

1 ETH
Alice ETH
0 ETH
Stabilizer Match

Alice Wallet

0 ETH
ETH
0 USPD
USPD
Auto-Matching Available
150% Ratio

Automatic Collateral Matching

The system automatically matches Alice's 1 ETH with 0.5 ETH from the stabilizer's pool, creating 150% overcollateralization. This happens instantly and automatically.

Stabilizer
User

Stabilizer Escrow

9.5 ETH
Remaining Available

Position Escrow

1 ETH
Alice ETH
0.5 ETH
Stabilizer Match

Alice Wallet

0 ETH
ETH
0 USPD
USPD
Automatically Achieved
150% Ratio

Alice Receives USPD

With 1.5 ETH now securing the position (worth $6,000), Alice receives 4,000 USPD in her wallet. She now has stable purchasing power that generates yield automatically.

Stabilizer
User

Stabilizer Escrow

9.5 ETH
Remaining Available

Position Escrow

1.5 ETH
Total Collateral

Alice Wallet

0 ETH
ETH
4,000 USPD
USPD
Secured & Earning Yield
150% Ratio

No Management Required

Alice is done! She has 4,000 USPD that maintains its $1 peg and generates yield automatically. The stabilizers handle all the complex position management behind the scenes.

Stabilizer
User

Stabilizer Escrow

9.5 ETH
Unallocated

Position Escrow

1.5 ETH
Total Collateral

User Wallet

0 ETH
ETH
4,000 USPD
USPD
Stabilizer's Preference
150% Ratio
ETH Price: $4,000
150% Collateralized

Price Goes Up

The price of ETH increases to $4,800. The system remains healthy and is even more overcollateralized. Alice's USPD is safe and stays pegged to the USD. She receives rebasing rewards through stETH.

User

USPD System Pool - All Stabilizers

ETH Price: $4,800 (+20%)
System Health: Excellent

Automatic Yield Generation

As the underlying stETH collateral earns staking rewards and ETH appreciates, Alice's USPD automatically grows in value. She doesn't need to manage anything - the yield is built into her stablecoin balance.

User

USPD System Pool

Alice Wallet

0 ETH
ETH
4,080 USPD
USPD (Growing)
From stETH Staking Rewards
Native Yield: +2% APY

What If ETH Price Drops?

Alice doesn't need to worry about price drops. The system's pooled collateral model and liquidation mechanisms ensure her USPD remains stable and redeemable, even during market volatility.

System Under Pressure

When ETH drops to $3,200, some stabilizer positions become undercollateralized. But Alice's USPD remains safe - it's backed by the entire pool of stabilizers, not just one position. The system automatically rebalances.

User

USPD System Pool - Multiple Stabilizers

Alice Wallet

0 ETH
ETH
4,000 USPD
USPD (Safe)
ETH Price: $3,200 (-20%)
System Health: Stressed

Liquidation Mechanism

When stabilizer positions become undercollateralized, liquidators step in. They buy USPD (often at a discount) and use it to close bad positions, earning a profit while removing unhealthy collateral from the system.

Liquidator

System Rebalancing in Progress

Bad Debt Being Cleared
Liquidation Active

System Self-Heals

Through liquidations, the system automatically removes undercollateralized positions and reduces USPD supply. This brings the system back to health. New stabilizers can step in to provide fresh collateral.

USPD System Pool - Healthy & Rebalanced

Ready for New Users
System Health: Restored

Alice's USPD Remains Safe

Throughout all the market volatility and system rebalancing, Alice's 4,000 USPD remained stable and redeemable. She never had to monitor positions or manage collateral - the system handled everything.

Redeeming USPD Anytime

Alice can redeem her USPD for ETH at any time when the system is healthy. The pooled collateral model ensures there's always sufficient backing, even if individual stabilizer positions come and go.

User

USPD System Pool - Always Available

Alice Wallet

0 ETH
ETH
4,000 USPD
USPD
1 USPD = $1 of ETH
Always Redeemable

How Stabilizers Earn Yield

For those interested in becoming stabilizers: providing collateral to back USPD isn't just a public service - it's a sophisticated yield strategy that can generate 20-35% APY through delta-neutral positions.

The Delta-Neutral Strategy

To remain market-neutral against their long ETH exposure, Stabilizers open a short position on a perpetual futures exchange. This hedges against ETH price volatility.

Delta-Neutral Strategy

Long ETH
Short ETH

Earning Funding Fees

In most market conditions, traders who are short ETH are paid funding fees by those who are long. This provides a consistent yield, averaging around 11% annually.

Funding Fees

Short ETH
Funding Fees
~11% APY

The Power of Leverage

This strategy is highly capital-efficient. Stabilizers only need to provide a fraction of the capital for the short position they open, effectively leveraging their capital.

Leverage

%
Margin
%
Short Position
Capital Efficiency
~3x Leverage

Choose Your Strategy

Stabilizers can choose their level of risk. A conservative 2x leveraged short can yield ~22% APY, while a more aggressive 3x leverage can yield ~33% APY.

Strategy Comparison

Risk-Averse
2x * 11% =
22% APY
Risk-On
3x * 11% =
33% APY

Ready to Earn?

Become a Stabilizer today to start earning a competitive, delta-neutral yield while helping to secure the USPD ecosystem.

Final Yield

~20-35% APY
Delta-Neutral

Questions?

If you have any questions, feel free to join our Telegram community