---
title: "Pareto USP (USP) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usp-pareto-credit/"
description: "Build-time stablecoin profile for Pareto USP (USP). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Pareto USP (USP)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Pareto USP is a dollar token backed mostly by private credit vault exposure, with small liquid stablecoin buffers and verified-user-only mint and redeem. Pareto USP is a dollar token backed mostly by Pareto credit vault exposure, with small liquid stablecoin buffers. Verified users can mint and redeem, but open-market holders still depend on liquidity or onboarding, so Pharos models the issuer route with that access caveat. The reserve profile is the main tradeoff: credit exposure may produce useful yield elsewhere in the system, but private credit is not the same as holding {{term:treasury}}Treasury{{/term}} bills or cash behind a redeemable stablecoin, and {{term:redemption}}redemption{{/term}} runs through a permissioned path rather than open arbitrage.

## Collateral

USDC and USDS collateral deployed into Pareto credit vaults (private-credit lending pools), liquid buffers, and a stability fund

## Peg Mechanism

Verified users mint and redeem USP 1:1 against stablecoin collateral through Pareto, while secondary-market holders rely on DEX liquidity

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x97ccc1c046d067ab945d3cf3cc6920d3b1e54c88` | 18 |

## Live Data

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