US Permissionless Dollar Price(USPD)

US Permissionless Dollar (USPD) is a decentralized, permissionless, and yield-bearing stablecoin designed to maintain a 1:1 peg with the US dollar. Its primary goal is to provide a stable, censorship-resistant digital dollar that is fully backed by on-chain collateral. USPD is built to serve the decentralized finance (DeFi) ecosystem, offering features for yield generation and privacy. Users can mint USPD by depositing staked Ethereum (stETH) as collateral into a smart contract. Each USPD token is over-collateralized by a minimum of 125% with ETH collateral. The stability of USPD is managed through a decentralized network of "Stabilizers" and a unique stabilizer mechanism, which helps it avoid reliance on centralized reserves. This system includes NFT-based stabilizer positions, automated collateral management, dynamic overcollateralization, and liquidation mechanisms, all designed to ensure the system can withstand market fluctuations. Key features of USPD include its full transparency, with all reserves verifiable on-chain in real time, allowing for public audits. It is designed to be decentralized and censorship-resistant, meaning users maintain control of their assets, and the token contract prevents freezing or seizing of funds. Anyone can participate in minting USPD or becoming a stabilizer without requiring permission. USPD also offers a native yield, allowing holders to automatically earn rewards from Ethereum's staking. The project aims to be compatible with multiple blockchain networks, enabling seamless asset bridging across the DeFi ecosystem. Its value is backed by on-chain ETH, making it independent of traditional financial systems. The project has discussed USPD v2, which aims to be the next generation of its decentralized stablecoin, focusing on an optimized token model for DeFi, enhanced yield mechanisms, and advanced privacy features. In December 2025, the protocol experienced an exploit, leading to the minting of unbacked USPD tokens and the draining of stETH. Following this, the team responded by alerting users and planning for USPD v2 with improved safeguards. Although liquidity and volume dropped after the incident, USPD reportedly maintained its 1 dollar peg. Some reports from approximately a month ago (January 2026) indicate that USPD tokens had stopped trading on certain exchanges. Learn more

Looking to buy How to buy USPD? The process is simple and hassle-free! You can easily purchase USPD on LBank by following our step-by-step buying guide. We provide detailed instructions and video tutorials showing how to register on LBank and use various convenient payment options.

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