---
title: "Bond USD0 (bUSD0) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/busd0-usual/"
description: "Build-time stablecoin profile for Bond USD0 (bUSD0). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Bond USD0 (bUSD0)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** CeFi-Dependent

**Status:** active

## Overview

bUSD0 is Usual's bond-leg wrapper of USD0; before maturity it behaves like a discount bond, not a spot dollar. bUSD0 is Usual's fixed-notional USD0 bond, formerly USD0++, with a June 11, 2028 maturity. It is backed by locked USD0 but does not behave like a spot stablecoin before maturity: par exit requires both bUSD0 and the separate rt-bUSD0 early-exit right, while secondary-market bUSD0 can trade below one dollar. Yield is paid through USUAL coupons rather than dollar NAV growth, so the risk is a mix of USD0 reserve quality, Usual DAO parameter risk, and liquidity/discount risk before maturity. Par {{term:redemption}}redemption{{/term}} requires both tokens, and the underlying USD0 reserve is itself an {{term:rwa}}RWA{{/term}} {{term:treasury}}Treasury{{/term}} claim.

## 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

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x35d8949372d46b7a3d5a56006ae77b215fc69bc0` | 18 |
| arbitrum | `0x2b65f9d2e4b84a2df6ff0525741b75d1276a9c2f` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/busd0-usual.