---
title: "Galaxy USDC Quality (gUSDCq) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/gusdcq-galaxy/"
description: "Build-time stablecoin profile for Galaxy USDC Quality (gUSDCq). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-10-02"
---



# Galaxy USDC Quality (gUSDCq)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Galaxy USDC Quality compounds USDC lending interest through a Galaxy-curated Morpho V2 strategy. Holders own proportional vault shares whose value can fall when lending losses are recognized, rather than a direct claim on the parent issuer's reserves. The current immediate custody and lender positions are observable on-chain, but independent vault financial assurance, legal segregation and insolvency priority are not established. Ordinary redemptions depend on idle assets and the selected liquidity adapter; permissionless force-deallocation can recover other available market assets but cannot turn borrowed positions into immediately available dollars. Owner and curator addresses have no deployed code at the reviewed block, so the record does not grant multisig or institutional key-custody credit. The separately issued Base vault is excluded from this Ethereum instrument.

## Collateral

USDC-denominated idle balances and lender positions in Galaxy-curated Morpho markets. Borrower collateral, valuation and market liquidity vary; the share does not represent cash held solely at the parent issuer.

## Peg Mechanism

ERC-4626 deposits exchange USDC for NAV-bearing shares. Borrower interest and configured fee-share accrual change assets per share; realized lending losses can reduce NAV. Withdraw/redeem burns shares for idle USDC and liquidity from the configured adapter; force-deallocation is separate and cannot create liquidity in fully borrowed markets.

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x91600e31fbedc72433d4a57f16639cfe661be7d8` | 18 |

## Live Data

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