Profile
USDp profile facts
Parallel USDp (USDp) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.
Other coins using the USDp ticker
- Pax Dollar (USDP) · Active · US Dollar. USDP is Paxos's regulated dollar.
- Polaris USDp (USDp) · Pre-launch · US Dollar. USDp (formerly pUSD) is Polaris's pre-launch Liquity-style CDP stablecoin minted against pETH.
- Collateral
- Overcollateralized basket of correlated USD stablecoins and yield-bearing wrappers routed through the Parallelizer Module: frxUSD, sfrxUSD, USDe, sUSDe on Ethereum; USDS, sUSDS on Base; USDe, sUSDe on HyperEVM; USDC and ygamiUSDC on Avalanche. Composition and exposure limits set by sPRL holders via DAO vote.
- Peg mechanism
- Parallelizer Module (a licensed fork of Angle Protocol's Transmuter) lets users mint and burn USDp at oracle value against a whitelisted overcollateralized basket, with adaptive fees that widen on depeg. Yield is delivered through a separate Savings Module wrapper (sUSDp); liquid USDp itself does not accrue yield.
- 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.
USDp quick answers
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What is Parallel USDp (USDp)?
USDp is Parallel's DAO-governed dollar minted against a whitelisted basket of overcollateralized stablecoins through a licensed Angle Transmuter fork. The static profile records its US Dollar peg mechanism as: Parallelizer Module (a licensed fork of Angle Protocol's Transmuter) lets users mint and burn USDp at oracle value against a whitelisted overcollateralized basket, with adaptive fees that widen on depeg.
Is USDp safe?
As of Oct 31, 2026, Pharos grades USDp C+ (61/100) 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 USDp?
Pharos records USDp's reserves as of Aug 20, 2026 as 37.9% sfrxUSD (Ethereum branch), 37.1% sUSDe (Ethereum + HyperEVM branches), 12.2% ygamiUSDC vault shares (Avalanche branch), and 5 smaller holdings. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Crypto-Collateralized.
Can USDp 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. Live freeze and blacklist events for USDp, when applicable, appear in the live dossier on this page.
How do you redeem USDp?
Under the route Pharos reviewed on Aug 12, 2026, any holder can redeem USDp for FRXUSD, SFRXUSD, USDE, and 5 other assets. Redemption settles atomically on-chain. The fee is variable or not fully published. Whether a given holder qualifies is set by the route's own terms, not by this summary.
