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



# Polymarket USD (PUSD)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

An application-tier dollar balance token mapped to USDC on Polygon, with risk concentrated in the Polymarket app rails rather than a new reserve.

Polymarket USD is the dollar balance token used around Polymarket deposits and withdrawals on Polygon. Its collateral story is simple: the token is intended to map to USDC and USDC.e in Polymarket rails, so reserve risk is mostly wrapper, {{term:bridge}}bridge{{/term}}, and app-access risk rather than a new asset mix. Pharos enables curated reserve validation against the Polygon contract and keeps the {{term:redemption}}redemption{{/term}} path documented through Polymarket docs. The token functions as an application dollar, not an independent issuer reserve.

## Collateral

USDC and bridged USDC.e backing on Polygon used for Polymarket prediction-market account balances

## Peg Mechanism

Minted when users deposit supported USDC into Polymarket rails and redeemable back to USDC through the Polymarket application flow

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| polygon | `0xc011a7e12a19f7b1f670d46f03b03f3342e82dfb` | 6 |

## Live Data

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