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



# Quill USD (USDQ)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** Decentralized (DeFi)

**Status:** active

## Overview

Quill's USDQ deploys Liquity V2's immutable {{term:cdp}}CDP{{/term}} on Scroll with wETH/wstETH/weETH/SCR collateral; accepting the host chain's own token introduces a reflexivity loop. Quill Finance deploys Liquity V2's immutable {{term:cdp}}CDP{{/term}} blueprint on Scroll, minting USDQ against wETH, wstETH, weETH, and — notably — SCR, Scroll's own native token, which injects a layer of alt-L1 governance token risk that Liquity's Ethereum-native design never contemplated. At roughly $132K in circulation, USDQ is a micro-cap stablecoin on a Stage 0 zk-rollup, meaning both the dollar and the chain it lives on are still proving themselves. The collateral mix earns an alt-lst-bridged-or-mixed classification: LST derivatives are reasonable CDP fodder, but accepting SCR as collateral ties the stablecoin's health to the market sentiment of the very chain hosting it — a reflexivity loop that gets uncomfortable in a drawdown. Immutable code and Liquity-style dynamic {{term:redemption}}redemption{{/term}} fees preserve the decentralization credentials, with no admin keys or multisig to intervene when collateral ratios tighten and {{term:liquidation}}liquidations{{/term}} fire. The thesis is that Scroll needs a native {{term:overcollateralization}}overcollateralized{{/term}} dollar and Liquity's battle-tested architecture is the safest way to build one — but with supply this thin, the real test is whether anyone shows up to use it.

## Collateral

wETH, wstETH, weETH, and SCR in overcollateralized CDP markets on Scroll

## Peg Mechanism

Overcollateralized CDP with user-set interest rates and direct on-chain redemption for underlying collateral; Stability Pools absorb liquidations per collateral market

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| scroll | `0xdb9e8f82d6d45fff803161f2a5f75543972b229a` | 18 |

## Live Data

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