Profile
USBD profile facts
Bima USBD (USBD) static profile: governance model Centralized (CeFi); backing model Crypto-Collateralized; peg US Dollar.
- Collateral
- Bitcoin liquid staking/restaking derivatives and other approved BTC wrappers deposited into BIMA vaults; the Peg Stability Module can also hold approved stablecoins such as USDC, USDP, and GUSD for peg operations, though no PSM stablecoin balance is present in the reviewed composition (100% WBTC collateral wrapper).
- Peg mechanism
- Liquity-style overcollateralized vaults with a 150% minimum collateral ratio; USBD can be redeemed permissionlessly for BTC-denominated collateral from the lowest-ratio vaults. The branch-specific fee is capped fee-floor plus a decaying base rate that increases with the redemption itself; the Peg Stability Module adds near-1:1 USDC/USDP/GUSD swaps.
- Jurisdiction
- Not disclosed in the static profile.
- 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.
USBD quick answers
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What is Bima USBD (USBD)?
USBD is Bima's Bitcoin-backed CDP stablecoin minted from overcollateralized BTC LST vaults under Liquity-style mechanics with a USDC/USDP/GUSD PSM. The static profile records its US Dollar peg mechanism as: Liquity-style overcollateralized vaults with a 150% minimum collateral ratio; USBD can be redeemed permissionlessly for BTC-denominated collateral from the lowest-ratio vaults.
Is USBD safe?
As of Nov 8, 2026, Pharos grades USBD C (57/100) 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 USBD?
Pharos records USBD's reserves as of Jul 15, 2026 as 100% WBTC BIMA collateral wrapper. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Crypto-Collateralized.
Can USBD 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 USBD?
Under the route Pharos reviewed on Oct 9, 2026, any holder can redeem USBD for BTC. Redemption settles atomically on-chain. The reviewed redemption fee is at most 100%. Whether a given holder qualifies is set by the route's own terms, not by this summary.
