How it works
Shared reserve
How we back branded dollars and put their backing to work.
Our dollars share a reserve and are backed 1:1 by its selected asset. Minting deposits that asset, such as USDG or USDC, to create a balance of branded dollars. The app shows the available reserve for your network.
The deposited backing can earn yield while the dollars circulate. For a standalone stablecoin, that income accrues to its treasury. For dollars held in an asset market, it goes to the market's liquidity providers, less a protocol share. Holding the dollar alone does not earn this yield.
Backing and market price serve different roles. The reserve backs the dollar; buyers and sellers determine the price of the asset traded against it. See Platform basics for an example.