pUSD

pUSD is an algorithmic stablecoin, governed by the protocol to maintain stability through incentive-based mechanisms and flexible collateral management. Its design allows the protocol to dynamically respond to market conditions while optimizing capital efficiency.

pUSD is backed by USDC at launch, ensuring a stable entry point and user confidence. Over time, the protocol may evolve its collateral model to increase capital efficiency and unlock more flexible yield mechanisms.

Launch Collateralization: 1:1 backed by USDC.e

Adaptive Collateralization: The protocol aims to optimize the ratio of backing assets to minted pUSD, balancing stability with protocol growth.

Reward Claim Fee: A time-weighted claim fee applies to rewards. Currently, the fee is set to 20%, but may be changed to support long-term protocol health and sustainability.