USD8
USD8 is a stablecoin that doubles as DeFi protection — your USD8 usage history works like an insurance, covering losses in supported defi protocols, across any position, up to 80%, completely free.
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.
Multi-Collateral
USD8 is backed by a carefully selected basket of stablecoins, reducing the protocol’s exposure to any single asset and making USD8 more resilient to de-pegging events.
- When launched, new USD8 will be minted and redeemed in the same proportions as the collaterals in the basket.
- Each collateral’s weight in the basket may be adjusted based on its ongoing risk profile.
We are currently finalizing the collateral basket. Details will be announced soon.