Profile
pUSD profile facts
Plume USD (pUSD) static profile: governance model Centralized (CeFi); backing model Crypto-Collateralized; peg US Dollar.
Variant relationship
Plume USD (pUSD) is modeled as a pure wrapper variant of USD Coin (USDC). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
Other coins using the pUSD ticker
- Polymarket USD (PUSD) · Active · US Dollar. PUSD is Polymarket's USDC-backed prediction-market account token on Polygon.
- Collateral
- 1:1 backed by USDC deposited into a Nucleus BoringVault
- Peg mechanism
- Mint/redeem at 1:1 for USDC on Ethereum or Plume with no protocol fees. Cross-chain redemption can take up to 12 hours; the issuer documents a predicate-proxy mint gateway with off-chain compliance checks.
- Jurisdiction
- Marshall Islands
- Proof of reserves
- No proof-of-reserves entry in the static profile.
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
pUSD quick answers
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What is Plume USD (pUSD)?
pUSD wraps USDC 1:1 in Plume-managed Nucleus BoringVaults, with no protocol mint/redemption fees; cross-chain redemption can remain pending for up to 12 hours. The static profile records its US Dollar peg mechanism as: Mint/redeem at 1:1 for USDC on Ethereum or Plume with no protocol fees. Cross-chain redemption can take up to 12 hours; the issuer documents a predicate-proxy mint gateway with off-chain compliance checks.
Is pUSD safe?
As of Oct 24, 2026, Pharos grades pUSD C- (52/100) on its Safety Score. Pharos's reviews record that the issuer or an admin can freeze individual holders' balances, and direct redemption is limited to customers the issuer has verified. That is a middle-band grade: it meets baseline expectations but carries meaningful weaknesses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs pUSD?
Pharos records pUSD's reserves as of Sep 21, 2026 as 72.5% Native USDC held by pUSD BoringVaults on Ethereum and Plume and 27.5% Bridged USDC.e held by the pUSD BoringVault on Plume. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Crypto-Collateralized.
Can pUSD be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded.
How do you redeem pUSD?
Under the route Pharos reviewed on Mar 23, 2026, customers the issuer has verified can redeem pUSD for USDC. Settlement is same-day. The reviewed terms charge no percentage redemption fee. Whether a given holder qualifies is set by the route's own terms, not by this summary.
