The CDP Stablecoin, Redefined.
All Yield to PEG

Hyperstable (USH) is a crypto-backed, over-collateralized, and decentralized stablecoin designed to trade at one US Dollar. It's backed by cryptocurrency collateral, requires over-collateralization to account for volatility, and operates in a fully decentralized manner with non-custodial vaults.

Users can deposit accepted collateral types to mint (create) USH tokens. The system is over-collateralized, meaning the backing collateral always needs to have a higher value than the amount of USH in circulation. Interest rates are adjusted on-chain automatically by the system, and anyone can trigger liquidations when positions become undercollateralized.

vePEG is what you receive when you lock PEG tokens. The benefits include:

• Governance power: Vote on emissions
• Revenue sharing: Earn 100% of protocol revenue from interest and liquidation fees
• Incentives: Receive additional protocol incentives
• Dilution protection: Protected from dilution via rebases

Lock periods range from 1 week to 1 year, with longer locks providing higher voting power. You can also enable Auto-Max Lock to maintain maximum voting power without decay.

Hyperstable offers two main bonus incentives:

Borrowing Rebate: A borrowing incentive paid in PEG tokens to USH borrowers, distributed weekly to help offset interest payments and promote protocol growth.

Referral Bonus: Referrers earn PEG tokens based on USH borrowed using their referral code, distributed weekly to referrers, incentivizing user acquisition.

Referrers earn PEG tokens based on USH borrowed using their referral code, distributed weekly to referrers, incentivizing user acquisition.

Yes, Hyperstable has undergone comprehensive security audits by industry-leading firms including 0x52, 0xKato, 0xWeiss, Anthias, and Pashov Audit Group. All audit reports are publicly available at github.com/hyperstable/audits

There are three main types of users who benefit from Hyperstable:

1. Borrowers: Borrow USH against supported collateral types at competitive rates, with borrowing rebates to offset interest costs. Perfect for those seeking leverage, hedging strategies, or looking to unlock capital from their crypto holdings.
2. Liquidity Providers: Earn PEG tokens by providing liquidity and staking LP tokens in farming pools.
3. PEG Holders: Lock tokens into vePEG to earn 100% of protocol revenue, receive incentives, vote on emissions, and get protected from dilution via rebases.

Getting started is simple:

1. Borrow: Use the Borrow interface to borrow USH against your crypto collateral
2. Farm: Provide liquidity to earn PEG tokens through farming rewards
3. Lock: Lock your PEG tokens to earn protocol revenue

Each action has its own dedicated interface in the Hyperstable app, making it easy to participate in any aspect of the protocol.

Hyperstable stands out through several key features:

• Dual-token system: USH stablecoin and PEG governance token working together
• Revenue generation: vePEG holders earn 100% of protocol revenue in USH
• Active incentives: Minting and referral bonuses promote growth
• Aligned incentives: Bonus rebates create long-term alignment between users and protocol success

For comprehensive information about Hyperstable, please check out our documentation: Hyperstable Docs. You can also review our security audits at GitHub.