Profile
pmUSD profile facts
pmUSD (pmUSD) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg US Dollar.
- Collateral
- TokenBlender (TB) base token held on-chain in RAAC's RWf(x) Treasury; TB is minted against I-ON Digital's ION.au token held in the TokenBlender contract, and ION.au represents a gold-backed digital security and in-situ gold claim
- Peg mechanism
- RWf(x), an f(x) protocol fork, mints pmUSD as the fToken against TB / ION.au-linked collateral; xPM absorbs collateral-price volatility while pmUSD is configured for stable fNAV; minting and system operations are manager-only through authorized silo multisigs. PSM (Peg Stability Module) is the primary peg defense tool: arbitrageurs swap pmUSD → sUSDS at $1 face value when pmUSD trades at a discount on-chain; swaps are one-directional and pause if the sUSDS reserve falls below 20% of PSM assets
- Jurisdiction
- Not disclosed in the static profile.
- Proof of reserves
- Real-Time PoR by Chainlink Proof of Reserve / Instruxi (ion-por feed: 86400s heartbeat with 2% deviation threshold; measures I-ON Digital's total reserve, not a pmUSD-specific reconciliation against the ION.au tranche pledged to RAAC) Reserve source
- Contracts
- 1 deployment tracked across Ethereum.
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
pmUSD quick answers
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What is pmUSD?
pmUSD is RAAC's f(x)-fork dollar fToken minted against TokenBlender/ION.au gold collateral; xPM absorbs volatility and sUSDS-based PSM defends the peg. The static profile records its US Dollar peg mechanism as: RWf(x), an f(x) protocol fork, mints pmUSD as the fToken against TB / ION.au-linked collateral; xPM absorbs collateral-price volatility while pmUSD is configured for stable fNAV; minting and system operations are manager-only through authorized silo multisigs.
Is pmUSD safe?
As of Oct 25, 2026, Pharos grades pmUSD F (10/100) on its Safety Score. Pharos's reviews record that admin controls such as a pause or an upgradeable contract exist, though no power to freeze a specific holder was found, and any holder can use its reviewed redemption route. That is a low-band grade, which flags significant structural risk. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs pmUSD?
Pharos records pmUSD's reserves as of Sep 29, 2026 as 100% TokenBlender reserve backed solely by ION.au. Reserve evidence: Real-Time PoR. Pharos classifies the backing as Real-World Asset Backed.
Can pmUSD 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.
How do you redeem pmUSD?
Under the route Pharos reviewed on May 2, 2026, any holder can redeem pmUSD for sUSDS. Redemption settles atomically on-chain. The reviewed redemption fee is 0.25%. Whether a given holder qualifies is set by the route's own terms, not by this summary.
