Bond USD0 (bUSD0) quarantined stablecoin record
Live tracking temporarily paused
Temporarily withheld because permitted runtime sources do not provide a positive circulating supply or market cap.
Effective 2026-07-15; review due 2026-08-15
Answer first
What is Bond USD0 (bUSD0)?
bUSD0 is Usual's bond-leg wrapper of USD0, splitting deposited USD0 into a fixed-notional bond token plus a separate early-exit right redeemable at maturity. The static profile records its USD0-denominated NAV accounting mechanism as: Depositing 1 USD0 mints 1 bUSD0 plus 1 rt-bUSD0 early-exit right; before June 11, 2028 par redemption requires both tokens, while bUSD0 alone redeems 1:1 for USD0 at maturity and may trade below par before then.
Is bUSD0 safe?
Bond USD0 is not in Pharos's active universe. Temporarily withheld because permitted runtime sources do not provide a positive circulating supply or market cap.
Profile
bUSD0 profile facts
Bond USD0 (bUSD0) static profile: governance model CeFi-Dependent; backing model Real-World Asset Backed; peg USD0-denominated NAV.
Variant relationship
Bond USD0 (bUSD0) is modeled as a bond variant of Usual USD (USD0). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
AI summary / Updated Oct 19, 2026
bUSD0 is Usual's bond-leg wrapper of USD0: a fixed-notional bond maturing June 11, 2028 that trades as a discount instrument before that date. It replaced USD0++ under Usual's UIP-12 governance proposal of December 2025, which moved early-exit rights into a separate token. Depositing one USD0 now mints one bUSD0 plus one rt-bUSD0 early-exit right. Par redemption before maturity requires both, while bUSD0 alone redeems 1:1 for USD0 only at maturity and can trade below one dollar until then.
AI summary · drafted by claude-opus-5-5 · facts as of Oct 19, 2026
- Collateral
- Locked USD0 bond position backed by the Usual USD0 reserve stack; bUSD0 is the fixed-notional bond leg formerly known as USD0++
- Peg mechanism
- Depositing 1 USD0 mints 1 bUSD0 plus 1 rt-bUSD0 early-exit right; before June 11, 2028 par redemption requires both tokens, while bUSD0 alone redeems 1:1 for USD0 at maturity and may trade below par before then
- Jurisdiction
- Not disclosed in the static profile.
- Proof of reserves
- No proof-of-reserves entry in the static profile.
Next actions
This record preserves static and historical context; live actions are available only for active assets.
Source: Pharos registry profile fields. This inactive record does not participate in current live monitoring; the summary above was last updated Oct 19, 2026.
bUSD0 quick answers
What is Bond USD0 (bUSD0)?
bUSD0 is Usual's bond-leg wrapper of USD0, splitting deposited USD0 into a fixed-notional bond token plus a separate early-exit right redeemable at maturity. The static profile records its USD0-denominated NAV accounting mechanism as: Depositing 1 USD0 mints 1 bUSD0 plus 1 rt-bUSD0 early-exit right; before June 11, 2028 par redemption requires both tokens, while bUSD0 alone redeems 1:1 for USD0 at maturity and may trade below par before then.
Is bUSD0 safe?
Bond USD0 is not in Pharos's active universe. Temporarily withheld because permitted runtime sources do not provide a positive circulating supply or market cap.
What backs bUSD0?
Pharos records bUSD0's reserves as of Feb 16, 2026 as 100% USD0 locked in the bUSD0 bond contract. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Real-World Asset Backed.
Can bUSD0 be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, admin controls such as a global pause or an upgradeable contract are recorded, but the review found no active power to freeze or seize a specific holder's balance on material deployments. bUSD0 is outside active monitoring; this static record preserves the reviewed control context.