Reserves & Solvency
Real-time data on treasury, supply, and redemption value. No black boxes.
Live Metrics
Updated in real-time from on-chain data.
How the Solvency Pool Works
The Solvency Pool is the USDT reserve that backs pUSD redemptions. It grows through protocol revenue and is protected by the 3-month cliff and redemption epoch system.
Revenue Inflows
50% of all trading fees, 30% of subscription revenue, and 20% of marketplace fees flow directly into the Solvency Pool.
3-Month Cliff
pUSD must be held for 3 months from mint date before becoming eligible for USDT redemption. This prevents short-term extraction and allows the treasury to stabilize.
Dynamic Redemption Value
Redemption value = Pool USDT ÷ pUSD opting to redeem in that epoch. If the pool grows faster than redemptions, per-pUSD value increases.
Revenue Allocation
Pool: $2,500,000 USDT
Opting to Redeem: 8,200,000 pUSD
Value per pUSD: $0.30
Why the 3-Month Cliff Exists
Treasury Stability
Prevents rapid extraction that could deplete the pool before revenue has time to accumulate.
Aligned Incentives
Encourages users to contribute to platform growth rather than immediately exit.
Sustainable Economics
Ensures the redemption system can operate long-term without insolvency risk.
Trust Through Verification
Treasury data is verifiable on-chain. Third-party audits in progress.
On-Chain Verification
Treasury wallet addresses are public. Verify balances directly on the blockchain.
View DetailsSmart Contract Audits
Independent security audits of pUSD minting, redemption, and treasury contracts.
Real-Time Dashboard
Live metrics updated every block. No delayed or manipulated reporting.
View DetailsImportant Risk Disclosure
pUSD is NOT a stablecoin. Unlike USDC or USDT, pUSD does not maintain a 1:1 peg to USD. Its redemption value fluctuates based on treasury health and redemption demand.
Redemption value can be less than $1. If many users redeem simultaneously or treasury growth slows, the per-pUSD redemption value could decrease.
The 3-month cliff is enforced. You cannot redeem pUSD for USDT until 3 months after it was minted to your account.
pUSD is earned, not purchased. Your risk is limited to opportunity cost—the time and activity you invest in earning it. You never buy pUSD at a price that could result in principal loss.
Questions About Our Reserves?
We're committed to answering every question about how pUSD works. Check our FAQ or reach out directly.