Design Objectives
Peg integrity Maintain one‑to‑one redemption between kUSD and reserve stablecoins under normal operation.
Separation of concerns Keep peg stability in kUSD, place yield and strategy variance only in locked‑kUSD.
Verifiable routing Emit on‑chain evidence for deposits, locks, redemptions, NAV updates, and Safety Buffer changes.
Standards first SPL on Solana, ERC‑20 and ERC‑4626 on EVM and BNB Chain for maximum composability.
Cross‑chain composability Enforce global supply and collateral invariants across all deployments.
kUSD is a multi‑chain stablecoin minted at par against reserve stablecoins and designed for broad DeFi composability. Yield is opt‑in through a separate transferable share token, kUSD, which represents a vault share of the delta‑neutral vault. The vault harvests systematic on‑chain cash flows from perpetual DEX strategies and accrues them to the share token’s exchange rate (kUSD price).
On Solana, kUSD is a SPL token with mint, lock, and redeem flows enforced by programs that emit an auditable state. On EVM and BNB Chain, kUSD is an ERC/BEP‑20 and an ERC/BEP‑4626 vault share, mirroring the same semantics. Global supply is constrained by chain‑agnostic invariants and Safety Buffer rules that prioritize redemptions at par.
Last updated 18 hours ago.