Questions
The basics#
What is USDh?
A digital dollar, pegged 1:1 to the US dollar. The dollars behind it are lent to the US government. You can hold it, send it and swap it.
What is sUSDh?
What you hold after you stake USDh. It lends to other governments, in dollars, and builds up rewards. Your sUSDh balance stays the same; what each one is worth in USDh goes up.
Does holding USDh pay me anything?
No interest is paid to holders. The interest on the reserves will fund Hamilton Prizes: every so often, a few people who have held USDh for a while each receive a prize. Hamilton Prizes have not started yet. The rules will be on USDh before the first one.
How long does it take to leave sUSDh?
30 days. You ask to unstake, wait 30 days, then claim your USDh. Asking again while you wait restarts the clock for the whole amount.
Is there a minimum?
Not to hold, swap or stake.
Do I need an account or an identity check?
No, not to hold, swap or stake. Making and giving back USDh directly with the issuer is for businesses only, and they do need identity checks.
Which blockchain?
Ethereum.
The hard questions#
Are sUSDh rewards guaranteed?
No. They change over time, can stop, and can be zero. Nobody owes you any rewards.
Who decides the sUSDh reward rate?
The staking protocol, not the USDh issuer. For now Publius Foundation oversees it: a protocol wallet that needs several signatures approves the rate on the blockchain. The contract won’t accept a rate above its cap, 25% a year by default. Raising the cap takes 48 hours’ public notice. Every decision is public. See Check it yourself.
Can I lose money?
Yes. USDh is not a bank deposit and is not insured, and its peg can slip. If you stake, you also carry the risk of the governments sUSDh lends to. See Risks.
What if a government doesn’t pay?
Countries don’t go bankrupt. They restructure their debt, and lenders usually take a loss. If a government sUSDh lends to restructures, sUSDh takes the loss on that loan. USDh is not exposed to it.
What if the issuer goes bust?
Holders would be unsecured creditors of the issuer. The reserves are not held in trust for holders. See Legal.
Has anyone checked the reserves?
Holdings are published in the app, and supply is public on Ethereum. Monthly reports by an independent firm are planned and will be published in the app.
Have the contracts been audited?
An independent audit is planned. The firm and the full report will be listed on Contracts and security. Until then, you can check the contracts yourself: see Check it yourself.
Can someone freeze or take my USDh?
An address can be frozen, and everything can be paused, for sanctions or emergencies. Nobody can take your balance. There is no code to do it.
Why can’t I use it in the US, the UK or the EU?
USDh is not offered there, or in other restricted countries. See who can use USDh.