USD8 Building
USD8 is a stablecoin with built-in DeFi insurance — USD8 usage history can be used to cover losses in supported defi protocols, across any position, up to 80%, completely free.
By simply holding and using Usd8, users get free insurance coverage for both their Usd8 as well as any other positions in covered defi protocols.
Claims can be made at anytime, 100% onchain and permissionless. Funds come from Usd8's Cover Pool - a high yield public vault.
The more you use USD8, the more you are covered.
Security
Security is the core of USD8. For every covered DeFi protocol we work alongside our audit partners to enforce rigorous audits and ongoing reviews. We accept independent security audits from OpenZeppelin. On top of that, we also accept SEAL Certification from Security Alliance when evaluating coverage for a protocol.
Use cases
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For passive DeFi users who want their savings protected - Swap your stablecoins for USD8 and deposit into our Protected Savings to earn yield(est. 3-5%) while being covered. If Protected Savings is hacked, you can claim upto 80% of your loss from the Cover Pool.
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For advanced DeFi users actively managing their own yield strategies - Hold USD8 (or USD8 LSTs with yield) and freely use any Covered DeFi Protocols, now all your positions are protected by the Cover Pool.
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For high-yield seekers with higher risk tolerance: deposit assets into our Cover Pool to share protocol revenue (estimated 15–30% returns). Be aware your assets might be used to offset losses from Covered DeFi Protocols, but our security team screens every covered protocol to reduce the chance of incidents.
Backed by USDC
USD8 can be minted 1:1 with USDC permissionlessly, these USDC collateral will be deployed to Defi platform for yield. Rest assured your USD8 is covered by the Cover Pool upto 80% incase anything goes wrong, you can redeem USD8 upto 80% value.
Redeem USD8 back to USDC will be also be permissionless, while we expect this process to be instant there might be a delay for large redeems because some external defi protocol might have a delay in their redeeming process, which is out of our control. However there will be an AMM pool available for swaps at anytime.