bUSD0 (formerly USD0++)

Overview

bUSD0 (Bond USD0) represents USD0 stablecoin locked until June 11, 2028. It remains transferable during this period, earning USUAL incentives and maturity yield. Users receive 1 USD0 for 1 bUSD0 at maturity. For early redemption, users need an equivalent amount of rt-USD0 - received at mint - which unlocks bUSD0 back into USD0 at a 1:1 rate anytime. Additionally, early redemption below peg can be made at a DAO set price floor.

bUSD0 Issuance

A holder of USD0 can deposit their USD0 into bUSD0 at any time:

1. Depositing USD0: The user deposits their USD0 to convert them into bUSD0.

2. 1:1 Issuance: bUSD0 are issued on a 1:1 basis with the deposited USD0. Along side with bUSD0 users also receive redemption token (rt-bUSD0) that allows them to leave bUSD0 at any time before the maturity date.

3. Bond Duration: bUSD0 has a maturity date (11 June, 2028) with guaranteed 1:1 redemption — or at any time by burning the redemption token.

bUSD0 Redemption

Users can exit their position in the following ways:

1) Redeem 1:1 back into USD0 using rt-bUSD0.

Provide an equivalent amount of rt-bUSD0 (the redemption-right token received at mint) to unlock bUSD0 at full value. Any missing rt-bUSD0 can be purchased on the secondary market.

2) Sell bUSD0 on the secondary market.

Because bUSD0 remains fully transferable, users can exit instantly at the market price whenever you choose.

3) Redeem at the DAO-defined floor price.

If bUSD0 trades below its projected remaining maturity value, users can redeem at a protocol-set floor price that reflects the remaining risk-free yield of USD0, ensuring a minimum guaranteed exit.

4) Wait until maturity.

At maturity, bUSD0 unlocks automatically and can be redeemed 1:1 back into USD0 without requiring rt-bUSD0.

bUSD0 (formerly USD0++)