USDh.

USDh is a digital dollar, pegged 1:1 to the US dollar. The dollars behind it are lent to the US government.

At a glance#

Hamilton Prizes#

Holding USDh does not pay interest. Instead, the interest the US government pays on the reserves behind USDh will fund Hamilton Prizes.

Every so often, a few people who have held USDh for a while each receive a prize. Not every holder receives one.

Hamilton Prizes have not started yet. Before the first one, this page will set out the rules: who qualifies, how often prizes are given, and how the people who receive them are chosen.

Where it comes from#

Every USDh is made when someone puts in a dollar. Businesses that have signed up with the issuer, called Mint Users, put in dollars or USDC and get USDh 1:1. They can also give USDh back for dollars, 1:1. Supply started at zero and only grows when dollars come in.

Everyone else gets USDh by swapping for it, and leaves by swapping it back. See Get USDh.

What backs it#

The dollars behind USDh are held for safety and ease of exit, in dollars and in short loans to the US government. USDh is touched only if the US government restructures its debt. See Reserves.

What the contract can and can’t do#

• Freeze one address, or pause everything. Used for sanctions and emergencies. A frozen address keeps its balance.
• Never take your balance. There is no code to seize or move your USDh.
• Change only in public. The code behind the contract can be replaced, but only after 48 hours’ public notice. The address you hold never changes. See Contracts and security.