Overview

rUSD is a dollar stablecoin minted against HYPE5. Keep your index exposure and borrow dollars to spend, trade or save.

How it works#

• Deposit HYPE5 into your vault.
• Mint rUSD up to your HYPE5's value divided by 150%.
• Repay any time to unlock your HYPE5.
• If your vault falls below 150%, anyone can liquidate it.

Where rUSD comes from#

rUSD enters circulation in two ways, and each is backed:

• Borrowed through a vault. Every rUSD minted by the CDP is backed by at least 150 cents of HYPE5 per dollar, priced from a signed NAV on every action.
• Bought from the rUSD/USDC pool. At deploy, a one-time seed of 25,000 rUSD was minted and placed in a Uniswap v4 pool, priced from $1.0000 to $1.0010. That position belongs to a dead address, so no one can withdraw it. Seed rUSD only leaves the pool when someone pays USDC for it, and that USDC stays in the pool, so it can always be sold back for at least $1.0000.

Nothing else can mint rUSD. The seed can't be increased, and after it only the CDP mints.

Trading rUSD#

The rUSD/USDC pool is on Elysium's Uniswap v4 deployment, with a 0.01% fee. Until someone buys from the seed, the pool holds only rUSD. Its USDC side grows as people buy.

Why HYPE5#

Five liquid crypto assets make steadier collateral than any single one, and HYPE5 holds only spot tokens, so collateral seized in a liquidation is backed by real assets that can be sold.

Something unclear? Tell us.