bnUSD

Balanced Dollar (bnUSD)

—

This entry tracks Balanced v1 bnUSD(old), issued on ICON and moving to the distinct Sonic-based bnUSD through a 1:1 migration.

Frozen Archive

USD-Pegged Crypto-Backed Centralized-Dependent

25 Apr 2021

Price

N/A

Observed price unavailable

Market cap

$938.24K

0.00% 24h

Supply

— bnUSD

— 7d

DEWS

Peg

Liq

30d Excess

Price

N/A

Observed price unavailable

Market cap

$938.24K

0.00% 24H

Supply

— bnUSD

— 7D

30d Excess

—

MechanismCrypto CDPMintingGoverned CDP FreezeYesChains9 JurisdictionNot disclosed

MintingGoverned CDP FreezeYesChains9 JurisdictionNot disclosed

Abandoned

“The ICON dollar retires with Balanced v1”

bnUSD archived 2026-10-29

Balanced v2 launched on April 7, 2026 and the original v1 app is no longer supported. Issuer documentation sets v1.balanced.network to go offline on December 1, 2026, after which outstanding loans are liquidated and the contracts are made inaccessible ahead of ICON's permanent shutdown at the end of 2026. bnUSD(old) migrates 1:1 into the separate new bnUSD, but only from ICON, Stellar and Sui; holders on the legacy bridge deployments must bridge there first. Reported circulating supply was about $938K at capture, below its recorded peak of about $1.17M. Pharos has published no market price since CoinGecko's last quote on June 26, 2026, found no DEX pairs, and freezes v1 as an archived legacy asset.

Balanced v1 transition guide View on cemetery →

The Dollar Left Behind

This entry tracks bnUSD(old), the legacy Balanced v1 dollar issued on ICON since 2021 and minted only through the Balanced Loans and Peg Stability contracts, with xCall burn-mint representations on other chains. Balanced v2 launched on April 7, 2026 with a distinct Sonic-based bnUSD, and the issuer offers a 1:1 migration into it. The deadline matters: Balanced says v1 goes offline on December 1, 2026, when outstanding loans will be liquidated and the contracts made inaccessible ahead of ICON's announced end-2026 shutdown. Pharos no longer borrows the v2 collateral census for this token, because new-bnUSD reserves are not a claim on the legacy liability, so no backing composition is admitted and the backing pillar is bounded by that gap. Exit is equally thin, with no reviewed DEX route for the tracked supply. The token's debt ceiling now reads zero, but a single EOA owns the Governance SCORE that could raise it or replace mint-critical logic. The peg feed records no events, but its coverage is limited, so that clean record says little. For holders of the legacy token, the migration route and its December deadline are the exit that counts.

Updated 2026-10-27 · AI summary · drafted by claude-opus-5-5 · facts as of 2026-10-19

AI policy

CeFi-Dependent|Compare

Depeg Early Warning

Not applicablefrozen archive

Control evidence

bnUSD Mint Authority

Users mint bnUSD against collateral under governance, controlled by an EOA and two contracts; supply is unbounded under adverse authority.

Confidence: VerifiedControl posture: Single operator

Control map

IssuerGoverned CDP

ControlsDirect minter×2Governor EOA

SupplybnUSDUnbounded, adverse authority

Scoring breakdown

Derived posture Unknown

Component score Unavailable

The current Safety Score publication is unavailable; reviewed mint authority evidence remains available.

Primary controls (3)

Balanced Loans SCORE
Direct minter / Contract
icon / cx66d4d9...0cece1
MintCap-limited
At ICON block 118950736 on 2026-10-01, getDebtCeiling returned 0. The registered Loans and Peg Stability contracts remain the restricted native mint paths, and Governance can change the ceiling. Historical observation at block 116683553: 8,000,000 bnUSD.
Balanced Peg Stability SCORE
Direct minter / Contract
icon / cxa09dbb...2aafa6
MintCap-limited
At ICON block 118950736 on 2026-10-01, getDebtCeiling returned 0. The registered Loans and Peg Stability contracts remain the restricted native mint paths, and Governance can change the ceiling. Historical observation at block 116683553: 8,000,000 bnUSD.
Balanced Governance owner
Governor / Externally owned account
icon / hx80e312...d0e368
MintCan authorizeCustodySingle-key address - custody unverifiable
The Governance SCORE owns bnUSD and its single current EOA owner can execute Governance calls that raise the debt ceiling or deploy replacement mint-critical SCORE code without an on-chain vote delay.

Review notes & sources (7)

Tracked v1 bnUSD(old) minting is restricted on ICON to the registered Balanced Loans and Peg Stability SCOREs. At block 118950736 the token's debt ceiling read 0, replacing the historical 8,000,000 value; its Governance SCORE remains owned by a single EOA able to raise the ceiling or replace mint-critical SCORE logic.

Control posture

Material control is classified as concentrated in one issuer, protocol team, or operating entity.

CeFi-Dependent is the broader governance classification. Control posture describes more precisely where operational authority sits.

Control posture is not a Safety Score input. Economic Control is scored from the reviewed mint authority, oracle and bridge evidence.

Reviewed 2026-10-01

bnUSD Collateral pricing & liquidation

Standard external

12 branches price collateral from a standard external feed; loosest staleness bound 30d.

Oracle review: Verified

Max LTV66.67%

Min CR117.65%

Liquidation delayNone

Pricing path

SourcesBand Protocol ICX/USD via Balanced Oracle + Balanced Staking sICX/ICX rateBand Protocol BTC/USD via Balanced OracleBand Protocol ETH/USD via Balanced Oracle+7 more

AggregatorStandard external12 feeds · 12 branches

ConsumerLiquidation engine

Debt by branch

Largest 5 of 12

Balanced Loans sICX (Band ICX + staking rate)Pricing tier: Standard external96.3% of debtMin CR 117.65%
Balanced Loans BTC (Band)Pricing tier: Standard external2.83% of debtMin CR 117.65%
Balanced Loans ETH (Band)Pricing tier: Standard external0.39% of debtMin CR 117.65%
Balanced Loans BTCB (Band)Pricing tier: Standard external0.22% of debtMin CR 117.65%
Balanced Loans XLM (manual external price)Pricing tier: Single-source / laggy0.2% of debtMin CR 125%

+ 7 more branches under Feeds, parameters & failure behavior

Feeds, parameters & failure behavior

Feeds

ICON Band Oracle get_reference_data(ICX,USD) * Staked ICX Manager getTodayRate -> Balanced Oracle getLastPriceInUSD(sICX) -> Loans TokenUtils.getPriceInUSD · Band Protocol ICX/USD via Balanced Oracle + Balanced Staking sICX/ICX rate · ICON · 30m staleness bound
ICON Band Oracle get_reference_data(BTC,USD) -> Balanced Oracle getLastPriceInUSD(BTC) -> Loans TokenUtils.getPriceInUSD · Band Protocol BTC/USD via Balanced Oracle · ICON · 30m staleness bound
ICON Band Oracle get_reference_data(ETH,USD) -> Balanced Oracle getLastPriceInUSD(ETH) -> Loans TokenUtils.getPriceInUSD · Band Protocol ETH/USD via Balanced Oracle · ICON · 30m staleness bound
assetPeg(BTCB)=BTC -> ICON Band Oracle get_reference_data(BTC,USD) -> Balanced Oracle getLastPriceInUSD(BTCB) -> Loans · Band Protocol BTC/USD via Balanced Oracle (BTCB pegged to BTC) · ICON · 30m staleness bound
ICON Band Oracle get_reference_data(BNB,USD) -> Balanced Oracle getLastPriceInUSD(BNB) -> Loans TokenUtils.getPriceInUSD · Band Protocol BNB/USD via Balanced Oracle · ICON · 30m staleness bound
ICON Band Oracle get_reference_data(INJ,USD) -> Balanced Oracle getLastPriceInUSD(INJ) -> Loans TokenUtils.getPriceInUSD · Band Protocol INJ/USD via Balanced Oracle · ICON · 30m staleness bound
ICON Band Oracle get_reference_data(SUI,USD) -> Balanced Oracle getLastPriceInUSD(SUI) -> Loans TokenUtils.getPriceInUSD · Band Protocol SUI/USD via Balanced Oracle · ICON · 30m staleness bound
ICON Band Oracle get_reference_data(AVAX,USD) -> Balanced Oracle getLastPriceInUSD(AVAX) -> Loans TokenUtils.getPriceInUSD · Band Protocol AVAX/USD via Balanced Oracle · ICON · 30m staleness bound
assetPeg(mSUI)=SUI -> ICON Band Oracle get_reference_data(SUI,USD) -> Balanced Oracle getLastPriceInUSD(mSUI) -> Loans · Band Protocol SUI/USD via Balanced Oracle (mSUI pegged to SUI) · ICON · 30m staleness bound
External/manual updatePriceData authorized for provider string 'manual' -> Balanced Oracle externalPriceData(XLM) -> Loans getLastPriceInUSD(XLM) · Balanced Oracle external/manual price provider · ICON · 30d staleness bound
External/manual updatePriceData authorized for provider string 'manual' -> Balanced Oracle externalPriceData(SOL) -> Loans getLastPriceInUSD(SOL) · Balanced Oracle external/manual price provider · ICON · 30d staleness bound
External/manual updatePriceData authorized for provider string 'manual' -> Balanced Oracle externalPriceData(JITOSOL) -> Loans getLastPriceInUSD(JITOSOL) · Balanced Oracle external/manual price provider · ICON · 30d staleness bound

Balanced Loans mSUI (Band SUI peg)Pricing tier: Standard external0.02% of debtMin CR 125%
Balanced Loans BNB (Band)Pricing tier: Standard external0.02% of debtMin CR 117.65%
Balanced Loans INJ (Band)Pricing tier: Standard external0.01% of debtMin CR 117.65%
Balanced Loans SUI (Band)Pricing tier: Standard external0.01% of debtMin CR 117.65%
Balanced Loans SOL (manual external price)Pricing tier: Single-source / laggy0% of debtMin CR 125%
Balanced Loans AVAX (Band)Pricing tier: Standard external0% of debtMin CR 117.65%
Balanced Loans JITOSOL (manual external price)Pricing tier: Single-source / laggy0% of debtMin CR 125%

Balanced Loans sICX (Band ICX + staking rate)

sICX · max LTV 66.67% · MCR 117.65% · On-chain getLiquidationRatio=117.65% and getLockingRatio=150% (implies max LTV 66.6667%) at ICON block 116171048.

Balanced Loans liquidate(owner, amount, collateralSymbol) is permissionless when position standing is LIQUIDATE. The liquidator burns bnUSD and receives discounted collateral after liquidator and DAOfund fee slices configured per symbol. · liquidation delay None

First-line backstop is open-market liquidators who burn bnUSD for discounted collateral. There is no Stability-Pool-style dedicated bnUSD backstop pool on the Loans SCORE. Residual debt after collateral is exhausted is recorded as per-collateral bad debt (DebtDB) and can later be cancelled by burning bnUSD via cancelBadDebt.

sICX has no secondary oracle failover. BalancedOracleImpl prices sICX as Staking.getTodayRate * Band ICX/USD. getPrice rejects updates older than the global last-update threshold (1,800 seconds / 30 minutes at the pinned block). Loans liquidations call getLastPriceInUSD and inherit that staleness gate.

Loans operations including liquidate and borrow are gated by checkStatus()/loansOn(). Undercollateralized remainder after full collateral liquidation is written to bad debt rather than socialized across other positions; cancelBadDebt burns bnUSD to reduce that balance. No separate global shutdown cascade was observed in the Loans v1.3.0 interface beyond status gating and bad-debt accounting.

Balanced Loans BTC (Band)

BTC · max LTV 66.67% · MCR 117.65% · On-chain getLiquidationRatio=117.65% and getLockingRatio=150% (implies max LTV 66.6667%) at ICON block 116171048.

BTC prices match Band get_reference_data(BTC,USD) at the pinned block (rate and timestamp). BalancedOracleImpl uses Band when no Pyth mapping is present for the peg symbol. The global last-update threshold is 1,800 seconds; no secondary failover path is configured for this Band-only branch.

Balanced Loans ETH (Band)

ETH · max LTV 66.67% · MCR 117.65% · On-chain getLiquidationRatio=117.65% and getLockingRatio=150% (implies max LTV 66.6667%) at ICON block 116171048.

ETH prices match Band get_reference_data(ETH,USD) at the pinned block (rate and timestamp). BalancedOracleImpl uses Band when no Pyth mapping is present for the peg symbol. The global last-update threshold is 1,800 seconds; no secondary failover path is configured for this Band-only branch.

Balanced Loans BTCB (Band)

BTCB · max LTV 66.67% · MCR 117.65% · On-chain getLiquidationRatio=117.65% and getLockingRatio=150% (implies max LTV 66.6667%) at ICON block 116171048.

BTCB is pegged to BTC in BalancedOracle assetPeg and therefore reuses Band BTC/USD. No independent secondary failover path is configured. Staleness is enforced by the global 1,800-second last-update threshold.

Balanced Loans BNB (Band)

BNB · max LTV 66.67% · MCR 117.65% · On-chain getLiquidationRatio=117.65% and getLockingRatio=150% (implies max LTV 66.6667%) at ICON block 116171048.

BNB prices match Band get_reference_data(BNB,USD) at the pinned block (rate and timestamp). BalancedOracleImpl uses Band when no Pyth mapping is present for the peg symbol. The global last-update threshold is 1,800 seconds; no secondary failover path is configured for this Band-only branch.

Balanced Loans INJ (Band)

INJ · max LTV 66.67% · MCR 117.65% · On-chain getLiquidationRatio=117.65% and getLockingRatio=150% (implies max LTV 66.6667%) at ICON block 116171048.

INJ prices match Band get_reference_data(INJ,USD) at the pinned block (rate and timestamp). BalancedOracleImpl uses Band when no Pyth mapping is present for the peg symbol. The global last-update threshold is 1,800 seconds; no secondary failover path is configured for this Band-only branch.

Balanced Loans SUI (Band)

SUI · max LTV 66.67% · MCR 117.65% · On-chain getLiquidationRatio=117.65% and getLockingRatio=150% (implies max LTV 66.6667%) at ICON block 116171048.

SUI prices match Band get_reference_data(SUI,USD) at the pinned block (rate and timestamp). BalancedOracleImpl uses Band when no Pyth mapping is present for the peg symbol. The global last-update threshold is 1,800 seconds; no secondary failover path is configured for this Band-only branch.

Balanced Loans AVAX (Band)

AVAX · max LTV 66.67% · MCR 117.65% · On-chain getLiquidationRatio=117.65% and getLockingRatio=150% (implies max LTV 66.6667%) at ICON block 116171048.

AVAX prices match Band get_reference_data(AVAX,USD) at the pinned block (rate and timestamp). BalancedOracleImpl uses Band when no Pyth mapping is present for the peg symbol. The global last-update threshold is 1,800 seconds; no secondary failover path is configured for this Band-only branch.

Balanced Loans mSUI (Band SUI peg)

mSUI · max LTV 66.67% · MCR 125% · On-chain getLiquidationRatio=125.0% and getLockingRatio=150% (implies max LTV 66.6667%) at ICON block 116171048.

mSUI uses assetPeg SUI and therefore the Band SUI/USD path inside BalancedOracleImpl. No independent secondary failover is configured for this peg. Staleness is enforced by the global 1,800-second last-update threshold observed on Balanced Oracle at the pinned block.

Balanced Loans XLM (manual external price)

XLM · max LTV 66.67% · MCR 125% · On-chain getLiquidationRatio=125.0% and getLockingRatio=150% (implies max LTV 66.6667%) at ICON block 116171048.

Same permissionless Loans liquidate(owner, amount, collateralSymbol) path as Band-priced collaterals; liquidator burns bnUSD for discounted collateral when standing is LIQUIDATE. · liquidation delay None

Open-market liquidators burning bnUSD are the first-line backstop; residual bad debt after collateral exhaustion is tracked per collateral and reducible via cancelBadDebt bnUSD burns. No dedicated Stability Pool backstop is present on Loans.

At the pinned block getExternalPriceProvider(XLM) returned 'manual' and getSymbolLastUpdateThreshold(XLM) returned 2,592,000,000,000 microseconds (30 days). ExternalOracle stores the last pushed rate without a Band/Pyth failover. This is a single privileged/manual update path with a very long staleness bound.

Status-gated Loans operations plus per-collateral bad-debt accounting; no additional global multi-collateral socialization path was observed in Loans v1.3.0 beyond cancelBadDebt.

Balanced Loans SOL (manual external price)

SOL · max LTV 66.67% · MCR 125% · On-chain getLiquidationRatio=125.0% and getLockingRatio=150% (implies max LTV 66.6667%) at ICON block 116171048.

At the pinned block getExternalPriceProvider(SOL) returned 'manual' and getSymbolLastUpdateThreshold(SOL) returned 2,592,000,000,000 microseconds (30 days). ExternalOracle stores the last pushed rate without a Band/Pyth failover. This is a single privileged/manual update path with a very long staleness bound.

Status-gated Loans operations plus per-collateral bad-debt accounting; no additional global multi-collateral socialization path was observed in Loans v1.3.0 beyond cancelBadDebt.

Balanced Loans JITOSOL (manual external price)

JITOSOL · max LTV 66.67% · MCR 125% · On-chain getLiquidationRatio=125.0% and getLockingRatio=150% (implies max LTV 66.6667%) at ICON block 116171048.

At the pinned block getExternalPriceProvider(JITOSOL) returned 'manual' and getSymbolLastUpdateThreshold(JITOSOL) returned 2,592,000,000,000 microseconds (30 days). ExternalOracle stores the last pushed rate without a Band/Pyth failover. This is a single privileged/manual update path with a very long staleness bound.

Status-gated Loans operations plus per-collateral bad-debt accounting; no additional global multi-collateral socialization path was observed in Loans v1.3.0 beyond cancelBadDebt.

Review notes & sources (23)

bnUSD loan collateral is priced on ICON through Balanced Oracle v1.3.0 (cx133c...), which Loans calls via getLastPriceInUSD. At ICON block 116171048 the debt-bearing inventory is dominated by sICX (~96.3%), which uses Band ICX/USD times the staking sICX rate under a 30-minute global staleness gate; other Band-priced collaterals match Band feeds directly, while SOL/XLM/JITOSOL use long-threshold manual external prices.

Balanced Loans sICX (Band ICX + staking rate): ICON Balanced Loans collateral market for sICX priced through Balanced Oracle (Band Protocol path) with per-symbol liquidation ratio 117.65% and permissionless liquidate(); residual bad debt is cancellable by burning bnUSD.
Balanced Loans BTC (Band): ICON Balanced Loans collateral market for BTC priced through Balanced Oracle (Band Protocol path) with per-symbol liquidation ratio 117.65% and permissionless liquidate(); residual bad debt is cancellable by burning bnUSD.
Balanced Loans ETH (Band): ICON Balanced Loans collateral market for ETH priced through Balanced Oracle (Band Protocol path) with per-symbol liquidation ratio 117.65% and permissionless liquidate(); residual bad debt is cancellable by burning bnUSD.
Balanced Loans BTCB (Band): ICON Balanced Loans collateral market for BTCB priced through Balanced Oracle (Band Protocol path) with per-symbol liquidation ratio 117.65% and permissionless liquidate(); residual bad debt is cancellable by burning bnUSD.
Balanced Loans BNB (Band): ICON Balanced Loans collateral market for BNB priced through Balanced Oracle (Band Protocol path) with per-symbol liquidation ratio 117.65% and permissionless liquidate(); residual bad debt is cancellable by burning bnUSD.
Balanced Loans INJ (Band): ICON Balanced Loans collateral market for INJ priced through Balanced Oracle (Band Protocol path) with per-symbol liquidation ratio 117.65% and permissionless liquidate(); residual bad debt is cancellable by burning bnUSD.
Balanced Loans SUI (Band): ICON Balanced Loans collateral market for SUI priced through Balanced Oracle (Band Protocol path) with per-symbol liquidation ratio 117.65% and permissionless liquidate(); residual bad debt is cancellable by burning bnUSD.
Balanced Loans AVAX (Band): ICON Balanced Loans collateral market for AVAX priced through Balanced Oracle (Band Protocol path) with per-symbol liquidation ratio 117.65% and permissionless liquidate(); residual bad debt is cancellable by burning bnUSD.
Balanced Loans mSUI (Band SUI peg): ICON Balanced Loans collateral market for mSUI priced through Balanced Oracle (Band Protocol path) with per-symbol liquidation ratio 125.0% and permissionless liquidate(); residual bad debt is cancellable by burning bnUSD.
Balanced Loans XLM (manual external price): XLM collateral on ICON Balanced Loans uses Balanced Oracle external/manual price updates (getExternalPriceProvider=XLM -> 'manual') with a 2,592,000-second (30-day) per-symbol last-update threshold, then the shared permissionless liquidate path.
Balanced Loans SOL (manual external price): SOL collateral on ICON Balanced Loans uses Balanced Oracle external/manual price updates (getExternalPriceProvider=SOL -> 'manual') with a 2,592,000-second (30-day) per-symbol last-update threshold, then the shared permissionless liquidate path.
Balanced Loans JITOSOL (manual external price): JITOSOL collateral on ICON Balanced Loans uses Balanced Oracle external/manual price updates (getExternalPriceProvider=JITOSOL -> 'manual') with a 2,592,000-second (30-day) per-symbol last-update threshold, then the shared permissionless liquidate path.

Reviewed 2026-07-28

bnUSD

Mostly validator network

9 routes on 9 chains, mostly external validator network (8). 8 third-party (89%).

Confidence: Verified

Routes by chain (9)

Equal widths, supply split unavailable

Review notes & sources (11)

bnUSD is natively minted on ICON at canonical SCORE cx88fd7df7ddff82f7cc735c871dc519838cb235bb. Every reviewed off-ICON deployment is a burn-mint representation settled through Balanced's xCall messaging. The ICON SCORE's live getConnectedChains inventory names the tracked Archway and Havah contracts; Archway identifies cw_xcall as the CW20 minter with no cap, while Havah exposes the expected xCall and xCallManager contracts. Those deployments now join the registered Pharos chain mappings and authored contracts instead of falling into the unmatched-label pool. The previously reviewed Base, Avalanche, Arbitrum, BSC, Optimism, and Injective routes retain their verified xCall controllers. Caveat: a separate v2 facilitator-minted Balanced Dollar exists on Sonic (0x94dc79ce9c515ba4ae4d195da8e6ab86c69bfc38) per SODAX documentation and the coin's reserve review; it is not part of DefiLlama stablecoin id 204 and remains outside this ICON-hub route inventory pending a coordinated series and supply-netting review.

Reviewed 2026-08-11

bnUSD

Freezable

A reviewed issuer or protocol control can freeze or seize this token in holders' wallets.

Sourced review

Power and scope

PowerFreezable

Review notes & sources (7)

At ICON block 115645618, the canonical bnUSD SCORE was active and registered Balanced Governance as its owner. The exact v1.1.2 deployed archive exposes govTransfer, which only Governance may use to move bnUSD from an arbitrary source address, and calls checkStatus before ordinary transfers. The exact v1.0.3 Governance archive has owner-only control paths, and its active owner is a single EOA. This is a direct canonical holder-control surface; upstream reserve exposure remains separate.

Reviewed 2026-07-15

Primary issuance lives on ICON

bnUSD is minted on ICON (canonical contract cx88fd7df7ddff82f7cc735c871dc519838cb235bb). Balanced uses its xCall infrastructure to extend the same supply to other chains, so the Archway, Havah, EVM, and Injective contracts tracked here are cross-chain burn-mint representations of the ICON-issued supply. ICON, Archway, and Havah deployments were added after their chain mappings and connected-contract identities were verified on 2026-08-11; these chains do not have token-pool providers, so contract-level runtime balance queries remain unsupported.

Balanced v1 transition and v2 launch

Balanced v2 launched on April 7, 2026 and the original v1 app is no longer supported. Issuer documentation asks holders to withdraw or migrate before v1 goes offline on December 1, 2026; after that date, outstanding loans will be liquidated and contracts made inaccessible ahead of ICON's announced end-2026 shutdown. This entry tracks v1 bnUSD(old), not the distinct Sonic-based new bnUSD. The Sonic v2 reserve census does not establish backing or redemption capacity for the tracked legacy liability.

Key links

Website Twitter Docs App

bnUSD Contracts

9 deployments tracked across ICON, Archway, Havah, and Base, plus 5 more.

Primary contract

ICON

cx88fd...35bb

View on ICON explorer

ICONcx88fd...35bb

Archwayarchwa...sxz7

Havahcx4b40...c7cc

Base0x78b7...3708

Avalanche0xdbdd...c699

Arbitrum0xa67f...946e

BSC0xc651...9206

Injectivefactor...3r9j

Optimism0xdccd...247b

Contract addresses (9)

ICON cx88fd7df7ddff82f7cc735c871dc519838cb235bb
Archway archway1l3m84nf7xagkdrcced2y0g367xphnea5uqc3mww3f83eh6h38nqqxnsxz7
Havah cx4b40466250f9ccf04cc92da1b6633968ba3ec7cc
Base 0x78b7cd9308287deb724527d8703c889e2d6c3708
Avalanche 0xdbdd50997361522495ecfe57ebb6850da0e4c699
Arbitrum 0xa67f4b09eed22f8201ee0637cbe9d654e63f946e
BSC 0xc65132325bd4fcf2ec5f3a9375487163b6999206
Injective factory/inj14ejqjyq8um4p3xfqj74yld5waqljf88f9eneuk/inj1qspaxnztkkzahvp6scq6xfpgafejmj2td83r9j
Optimism 0xdccd213951d8214fbaca720728474e2cef9d247b

Supply & Liquidity

Data frozen on 2026-10-29. Pharos no longer collects new metrics for this asset.

History

Data frozen on 2026-10-29. Pharos no longer collects new metrics for this asset.

Explore

Explore next

Move from this coin into the next useful surface: peer benchmarks, taxonomy cohorts, or live trackers that add context to what you just read.

Peers

All US Dollar stablecoins

DAI

Taxonomy

All US Dollar stablecoins CeFi-Dependent stablecoins Crypto-Collateralized stablecoins

Trackers

Stablecoin safety scores DEX liquidity rankings Depeg tracker See all CDP stablecoins

Actions

Open bnUSD in live compare Browse stablecoin comparisons Read the daily digest Use the Pharos API

Profile

bnUSD profile facts

Balanced Dollar (bnUSD) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.

CeFi-Dependent Crypto-Collateralized US Dollar

Collateral: Tracked v1 bnUSD(old) is backed through the ICON Balanced Loans and Peg Stability contracts. The Sonic SODAX borrower-collateral census describes the distinct new bnUSD and is not a verified composition of this legacy liability.
Peg mechanism: The legacy ICON token uses Balanced Loans and Peg Stability contracts and xCall burn-mint representations. Issuer documentation offers a 1:1 migration into the distinct new bnUSD; current v2 Stability Fund capacity is not attributed to this legacy token.
Jurisdiction: Not disclosed in the static profile.
Proof of reserves: No proof-of-reserves entry in the static profile.
Contracts: 9 deployments tracked across ICON, Archway, Havah, and Base, plus 5 more.

Source: Pharos registry profile fields. This inactive record does not participate in current live monitoring.

bnUSD quick answers

What is Balanced Dollar (bnUSD)?

This entry tracks Balanced v1 bnUSD(old), issued on ICON and moving to the distinct Sonic-based bnUSD through a 1:1 migration. The static profile records its US Dollar peg mechanism as: The legacy ICON token uses Balanced Loans and Peg Stability contracts and xCall burn-mint representations.

Is bnUSD safe?

Balanced Dollar is a frozen Pharos archive, not a current safety endorsement. The archived static profile records a CeFi-Dependent governance model, Crypto-Collateralized backing, curated reserve profile, and notes that issuer or admin freeze controls are recorded.

What backs bnUSD?

The archived Pharos profile records bnUSD's reserves in its review of Oct 9, 2026 as 100% Unclassified legacy bnUSD backing. Reserve evidence: curated reserve profile. Pharos classifies the backing as Crypto-Collateralized.

Can bnUSD be frozen or blacklisted?

Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. bnUSD is a frozen Pharos archive; the recorded history below is read-only.