pUSD is the yield-bearing stablecoin issued by the Polaris Protocol, minted against pETH collateral on Ethereum.
pUSD is the yield-bearing stablecoin at the center of the Polaris Protocol, minted by users who open collateralized debt positions using pETH as collateral. It is designed to hold its dollar peg while distributing yield generated by the protocol's bonding curve and conversion mechanics.
Unlike stablecoins backed by offchain assets such as Treasury bills, pUSD derives its yield from onchain collateral activity, with revenue routed through the protocol. It is currently live on the Polaris Sepolia testnet ahead of a planned mainnet launch.
| Attribute | pUSD | LUSD | USDe | |
|---|---|---|---|---|
| Provider | |  |  | |
| Founded | 2025 | 2020 | 2023 | |
| Sells To | — | — | B2B | |
| Pricing Model | — | — | Transaction Fees | |
| Ownership | Venture-backed | — | Venture-backed |
Provider
Founded 2025
Sells To —
Pricing Model —
Ownership Venture-backed
Provider
Founded 2020
Sells To —
Pricing Model —
Ownership —
Provider
Founded 2023
Sells To B2B
Pricing Model Transaction Fees
Ownership Venture-backed
USDY is Ondo Finance's yield-bearing token secured by short-term US Treasuries that accrues yield daily to holders.
AUSD is a US-dollar-backed stablecoin minted one-to-one with USD fiat and issued by Agora.
YLDS is an SEC-registered yield-bearing stablecoin on Provenance Blockchain that pays recurring interest to holders.
sUSDS is the yield-bearing stablecoin of Sky Protocol that accrues the governance-set Sky Savings Rate.
USDY is Ondo Finance's yield-bearing token secured by short-term US Treasuries that accrues yield daily to holders.
USDC is a regulated, fully reserved stablecoin issued by Circle for global payments and 24/7 settlement.
AUSD is a US-dollar-backed stablecoin minted one-to-one with USD fiat and issued by Agora.
YLDS is an SEC-registered yield-bearing stablecoin on Provenance Blockchain that pays recurring interest to holders.
