Our stablecoins
Branded dollars, shared reserves, and conversion.
A branded stablecoin has its own name and symbol, but shares USDG backing with the other brands registered in its reserve. Each branded unit represents a claim designed around one USDG. It does not represent a separate reserve account for its holder.
Mint, convert, or redeem
Use the homepage swap widget and choose the payment and receive tokens. USDG into a brand mints; a brand into USDG redeems; two brands in the same reserve convert. The Stablecoins directory lists issued brands and links to their details.
| Action | Example | What moves |
|---|---|---|
| Mint | Deposit 100 USDG; receive 100 Brand A units. | Backing enters the reserve. |
| Convert | Exchange 100 Brand A for 100 Brand B. | A units are burned and B units minted; backing stays put. |
| Redeem | Return 100 branded units to request 100 USDG. | Tokens are burned and available backing is paid out. |
Same-reserve conversion exchanges equal units without a market trade or conversion fee. Gas still applies. It cannot remove reserve risk: Brand B draws on the same backing as Brand A.
Where the yield goes
The reserve tracks each brand's outstanding supply and earned yield separately. Earnings are attributed to the supply outstanding as yield accrues, including tokens held in liquidity pools. Before a conversion changes those balances, existing earnings are credited to their original brand. Converting today does not transfer yesterday's earnings.
Yield goes to the brand's treasury and configured distribution; holders' tokens do not appreciate like yield-vault shares. Recorded reserve losses must be recovered before new growth is counted as distributable yield.
Redemption depends on backing
Withdrawals may need funds recalled from the yield source. Losses or unavailable liquidity can make a redemption fail or pay below par. The current conversion flow does not enforce a minimum redemption payout. A claim on USDG also does not guarantee USDG's dollar price.