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



# Initia iUSD (iUSD)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Single-chain Initia wrapper of bridged Agora AUSD; reserve yield diverted to ecosystem incentives, redemption routes back through AUSD. iUSD is the native dollar on Initia, the new Move-based Cosmos L1. Each iUSD is backed 1:1 by Agora's AUSD bridged in via LayerZero, so the ultimate reserve trace is Agora's short-dated U.S. Treasuries, repos, and cash custodied at State Street under VanEck management. Unlike standard fiat-backed stables, the reserve yield is redirected by Initia into ecosystem incentives — Echelon lending, liquidity programs, and Cabal vaults — rather than paid to holders. Supply is small (~$4M) and the chain is brand new, so resilience scoring leans on AUSD's transparency rather than an Initia-issued attestation. Holder redemption ultimately routes back through the LayerZero bridge to Agora's USD redemption window. Reserve trace runs into AUSD's {{term:treasury}}T-bills{{/term}} and cash at State Street with VanEck-managed {{term:custody}}custody{{/term}}, with the {{term:bridge}}bridge{{/term}} layer and Agora's {{term:redemption}}redemption{{/term}} window owning the exit path.

## Collateral

1:1 reserve in Agora AUSD bridged to Initia via LayerZero; AUSD itself is backed by short-dated U.S. Treasury bills, overnight reverse repos, and cash held in a bankruptcy-remote Delaware Statutory Trust managed by VanEck and custodied by State Street

## Peg Mechanism

iUSD is a single-chain wrapper of bridged Agora AUSD on Initia. Each iUSD is minted against an equal amount of AUSD locked at the Initia LayerZero bridge endpoint; reserve yield from the underlying AUSD is redirected by Initia into ecosystem incentives (Echelon lending, liquidity programs, Cabal vaults) rather than to holders. Holder redemption ultimately depends on the AUSD bridge and Agora's direct USD redemption.

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| initia | `0x6c69733a9e722f3660afb524f89fce957801fa7e4408b8ef8fe89db9627b570e` | 6 |

## Live Data

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