Profile
stcUSD profile facts
Staked Cap USD (stcUSD) static profile: governance model CeFi-Dependent; backing model Real-World Asset Backed; peg CUSD-denominated NAV.
Variant relationship
Staked Cap USD (stcUSD) is modeled as a strategy vault variant of Cap cUSD (CUSD). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
- Collateral
- ERC-4626 staked cUSD shares backed by Cap's reserve basket and operator-lending framework; yield comes from reserve yield and overcollateralized operator borrowing
- Peg mechanism
- Users stake cUSD for stcUSD; the stcUSD exchange rate appreciates versus cUSD as idle-reserve yield and operator repayments accrue (per Cap's stcUSD mechanics docs, operators repay a fixed underwriting premium to underwriters and a dynamic hurdle rate to stcUSD holders: the greater of a protocol-set benchmark floor and the market rate, plus a utilization component), and final USD exit inherits cUSD proportional basket redemption and Cap's slashing protections
- Jurisdiction
- Not disclosed in the static profile.
- Proof of reserves
- No proof-of-reserves entry in the static profile.
- 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.
stcUSD quick answers
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What is Staked Cap USD (stcUSD)?
stcUSD is Cap's ERC-4626 staked wrapper of cUSD; share price accrues reserve and operator-lending yield, with cUSD-tier proportional-basket exit risk. The static profile records its CUSD-denominated NAV accounting mechanism as: Users stake cUSD for stcUSD; the stcUSD exchange rate appreciates versus cUSD as idle-reserve yield and operator repayments accrue (per Cap's stcUSD mechanics docs, operators repay a fixed underwriting premium to underwriters and a dynamic hurdle rate to stcUSD holders: the greater of a protocol-set benchmark floor and the market rate, plus a utilization component), and final USD exit inherits cUSD proportional basket redemption and Cap's slashing protections.
Is stcUSD safe?
As of Oct 24, 2026, Pharos grades stcUSD C- (51/100) 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 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 stcUSD?
Pharos records stcUSD's reserves as of Jul 15, 2026 as 100% cUSD ERC-4626 vault shares and operator-lending receivable. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Real-World Asset Backed.
Can stcUSD 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 stcUSD?
Under the route Pharos reviewed on May 17, 2026, any holder can redeem stcUSD for a single stable asset, such as cash or a stablecoin. Redemption settles atomically on-chain. 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.
