Aegis YUSD

Aegis YUSD is a stablecoin designed to keep its value as close as possible to one US dollar at all times, making it useful for anyone who wants to hold or transact in a dollar-denominated digital asset without exposure to the price swings common in cryptocurrencies. The project targets people who want the stability of a dollar peg while still earning a yield on their holdings. It operates across several blockchain networks, including Ethereum, BNB Chain, and Avalanche.

YUSD is backed one-for-one by Bitcoin held in custodial vaults, with smart contracts governing the reserves. To neutralize the price risk that Bitcoin itself carries, the Aegis protocol runs a delta-neutral hedging strategy using Bitcoin-margined perpetual contracts, so that a rise or fall in Bitcoin's price does not move the dollar value of the collateral backing each YUSD. The token has no independent consensus mechanism of its own; it settles on whichever host blockchain a user holds it on.

The data stored for this asset does not include a fee stream, revenue figures, or protocol earnings, so fee-based measures that appear on other asset pages on this site are not applicable here. The yield that holders are described as receiving would in practice derive from the funding rates generated by the perpetual-contract hedging positions, but no figures for that yield are present in the stored data. The 30-day change in stablecoin circulating supply is effectively zero (negative four millionths of a percent over the last 30 days), indicating the outstanding supply has been nearly flat during that window.