Tokens
UPD and sUPD explained
Tech Preview
Tokens are available on Sepolia testnet. Not for production use.
UPD - Universal Private Dollar
A stablecoin pegged 1:1 to USD.
| Property | Value |
|---|---|
| Peg | 1 UPD = 1 USD |
| Collateral | Over-collateralized with stETH |
| Yield | None (stable value) |
| Freezable | No |
Why stETH collateral? Every UPD is backed by more than $1 of stETH locked in smart contracts. No centralized reserves, no trust required - verify on-chain anytime.
Why non-freezable? Traditional stablecoins (USDC, USDT) can blacklist addresses. UPD has no such mechanism. Your funds remain accessible, always.
sUPD - Staked UPD
A yield-bearing wrapper around UPD.
| Property | Value |
|---|---|
| Underlying | UPD |
| APY | 8-10% target |
| Model | Share-based vault |
| Redemption | Instant for UPD |
How it works: Deposit UPD, receive sUPD shares. The vault generates yield through delta-neutral strategies. Your sUPD shares represent a growing claim on UPD.
Share-based model: Like other vault tokens, 1 sUPD doesn't equal 1 UPD. Instead, your shares represent a percentage of the vault. As yield accrues, each share is worth more UPD.
Using Both
- Hold UPD for stable value and private transactions
- Stake as sUPD to earn yield on idle funds
- Both work with UPP for privacy
Move freely between UPD and sUPD as your needs change.