# 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.

<details>

<summary><strong>bUSD0 Issuance</strong></summary>

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.

</details>

<details>

<summary><strong>bUSD0 Redemption</strong></summary>

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.

</details>

{% content-ref url="/pages/jA9gCTlpvd8kcZidif4W" %}
[bUSD0 (formerly USD0++)](/smart-contracts/token-contracts/usd0++.md)
{% endcontent-ref %}


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