Bima USBD (USBD) stablecoin analytics
USBD is Bima's Bitcoin-backed CDP stablecoin minted from overcollateralized BTC LST vaults under Liquity-style mechanics with a USDC/USDP/GUSD PSM.
Static Profile
Static stablecoin profile
Bima USBD (USBD) static profile: governance model Centralized (CeFi); backing model Crypto-Collateralized; peg US Dollar.
AI summary / Updated Jun 12, 2026
USBD is a Liquity-style BTC-LST CDP stablecoin whose 150% mechanics are undermined by high-risk wrapper collateral and a barely tested secondary market. Bima puts Bitcoin liquid staking and restaking derivatives into overcollateralized vaults, with permissionless redemption for...
AI summary · drafted by gpt-5-codex · reviewed by Codex data review on Jun 12, 2026 · facts as of Jun 12, 2026
- 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
- Peg Mechanism
- Liquity-style overcollateralized vaults with a 150% minimum collateral ratio; USBD can be redeemed permissionlessly for $1 of BTC-denominated collateral from the lowest-ratio vaults with a fee of coreRate + 75 bps; a 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.
Snippet Answer
Is USBD safe?
Pharos does not mark USBD as absolutely safe. Static metadata says Bima USBD uses a Centralized (CeFi) governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Next Actions
Exact bot target: /subscribe dews,depeg,safety usbd-bima
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Jun 12, 2026.
USBD quick answers
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 $1 of BTC-denominated collateral from the lowest-ratio vaults with a fee of coreRate + 75 bps; a Peg Stability Module...
What backs USBD?
Pharos classifies USBD backing as Crypto-Collateralized. Collateral, per the static profile: 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 Reserve evidence: live reserve feed configured.
Can USBD be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Live freeze and blacklist events for USBD, when applicable, appear in the dossier below.