UTY

Unity (UTY)

· 53/100as of 2026-10-24

UTY is YieldPoint's market-neutral synthetic dollar: USDC on Base mints UTY 1:1; Avalanche and Katana are spokes; redemption is Base-only after 7 days.

USD-Pegged Crypto-Backed Centralized-Dependent

15 May 2025

Price

$0.9996

N/A

Market cap

$20.98M

+0.00% 24h

Supply

20.99M UTY

+0.00% 7d

+0.00% 30d

DEWSCalm9/100 · as of 2026-10-24

Peg

Liq48as of 2026-10-24

30d Excess

Price

$0.9996

N/A

Market cap

$20.98M

+0.00% 24H

Supply

20.99M UTY

+0.00% 7D · +0.00% 30D

30d Excess

MechanismHedged SyntheticMintingGoverned CDP FreezePossibleChains3 JurisdictionNot disclosed GENIUSNone Found AttestorNiche Issued2025

MintingGoverned CDP FreezePossibleChains3 JurisdictionNot disclosed GENIUSNone Found AttestorNiche Issued2025

Steady Peg, Seven-Day Exit

UTY (Unity) is YieldPoint's market-neutral synthetic dollar, minted 1:1 from USDC on Base and redeemable for USDC only on Base after a seven-day bonding period. Deposits are swept to managed custody and allocated across strategy modules that may include long-spot and short-perpetual hedges, on-chain lending, liquidity provision and structured yield. Pharos's chain census places the tracked circulating supply on Avalanche, where UTY is a LayerZero representation of tokens locked on Base, so a holder's path to also runs through that bridge. The peg record is steady: dozens of recorded deviations, the worst about 3%. Backing is the strongest pillar on the C- card but still mid-range, because the Accountable feed itemizes reserves by chain and settlement location (mostly Ethereum, Base and Avalanche) rather than by asset, leaving positions, hedge notionals and venue balances undisclosed. Economic control is held back by an undisclosed oracle topology: the issuer does not publish how the strategy is priced, what freshness bounds apply, or what fails over. Exit is the weakest pillar. A holder who wants out during stress either waits out the bonding period or sells into secondary markets. The peg has held when tested; the risk sits in the week-long bonding period and the bridge a holder must cross to reach USDC.

Claims as of 2026-10-19

Updated 2026-10-19 · AI summary · drafted by claude-opus-5-5 · facts as of 2026-10-19

AI policy

CeFi-Dependent|Compare

Backing evidence

UTY

1.097reserve to supply ratio

Review notes & sources (4)

Reviewed gaps

Hedge coverageNot disclosed
The cited strategy policy pairs long spot and short derivatives but publishes no complete current spot/derivative notionals or delta-adjusted all-venue denominator. A policy target cannot be entered as an observed ratio of 1.Source
Excess backingNot disclosed
The cited Accountable reserves/supply ratio measures aggregate solvency, not posted venue margin, maintenance requirements or excess margin headroom. The previously derived 9.749788 percent is not this metric.Source
Loss absorptionNot disclosed
Aggregate reserves above supply do not establish independently funded first-loss capital or its legally committed coverage. The cited risk disclosure and dashboard do not establish a complete funded loss waterfall; no positive share or zero is inferred.Source

XSY protocol mechanics (rules-driven strategy modules: long spot + short perpetual futures, on-chain lending, structured yield)

Reviewed 2026-07-20

UTY

Structure undisclosed

Held by

Copper Clearloop

Shares not disclosed

Undisclosed custodians for managed strategy assets

Reserves sit with one named custody provider and unidentified others; the account structure is undisclosed.

Confidence: Manual review

Providers (1)

Copper Clearloop (off-exchange settlement and custody)
Custodian
Share not disclosed

Review notes & sources (5)

The source review reopened the cited flow and Accountable surfaces, XSY risks and current YieldPoint terms on 2026-10-20. Current first-party flow docs identify a custodian wallet without naming Ceffu; the unsupported provider attribution is removed, not treated as proof that Ceffu is absent. Copper is expressly mentioned in the OES risk disclosure and appears as a small dashboard location bucket. The issuer claims segregated bankruptcy-remote custody where OES is used but separately acknowledges assets can be held directly at exchanges without OES. Neither source partitions the entire current strategy book by provider/account or supplies the complete governing account agreements. Therefore conditional OES protections cannot establish whole-book segregation or bankruptcy remoteness; both aggregate fields are unknown, while those scoped issuer claims, counterparty risk and the original review start are preserved. Current location buckets are not custody-protection or instrument-maturity proofs.

Reviewed 2026-07-20

Exit evidence

Redemption route · Waiting for section

Redemption evidence loads when the Risk section approaches the viewport.

Control evidence

UTY

Mint Authority

Users mint UTY against collateral under governance, controlled by a 3/4 Safe and a contract; supply is unbounded but reconciled or supervised.

Confidence: VerifiedControl posture: Single operator

Control map

IssuerGoverned CDP

ControlsDirect minterMinter admin Safe3/4Minter admin EOA×3

SupplyUTYUnbounded, reconciled or prudentially supervised

Scoring breakdown

Derived posture Unknown

Component score Loading

The current Safety Score publication is loading; reviewed mint authority evidence is shown below.

Primary controls (5)

UTY Base collateralized vault mint path
Direct minter / Contract
base / 0xba5153...c127eb
MintCap-limited
deposit() and mint() require Base USDC assets and enforce maxTotalAssets; the current cap is uint256 max and the owner or any MANAGER_ROLE member can change it.
UTY Base vault UUPS owner Safe
Minter admin / Safe
base / 0xb237eb...bc2cca
MintCan authorizeSetupSafe, 3/4 thresholdSafe modules/guardNo modules or guards detected
UTY Base MANAGER_ROLE member 0xa695
Minter admin / Externally owned account
base / 0xa695bb...5e3016
MintParameter-onlyCustodySingle-key address - custody unverifiable
UTY Base MANAGER_ROLE member 0x7387
Minter admin / Externally owned account
base / 0x738742...5C6f2C
MintParameter-onlyCustodySingle-key address - custody unverifiable
UTY Base MANAGER_ROLE member 0xd2d1
Minter admin / Externally owned account
base / 0xd2d180...1d3211
MintParameter-onlyCustodySingle-key address - custody unverifiable

Review notes & sources (12)

Base is the sole native UTY issuance chain: the UUPS ERC-7540 vault accepts Base USDC through collateralized deposit()/mint() and has a mutable maxTotalAssets cap. The Base owner is a 3-of-4 Safe with no observed modules or guard; any of the three Base MANAGER_ROLE members can also raise the cap without delay. Avalanche and Katana are LayerZero OFT bridge representations and their bridge administration is assessed under Bridge Risk.

Control posture

Material control is classified as concentrated in one issuer, protocol team, or operating entity.

CeFi-Dependent is the broader governance classification. Control posture describes more precisely where operational authority sits.

Control posture is not a Safety Score input. Economic Control is scored from the reviewed mint authority, oracle and bridge evidence.

Reviewed 2026-08-16

UTY

Opaque / unknown

UTY mint and redeem quotes rely on an undisclosed pricing method.

Oracle review: Verified

Pricing path

SourcesUndisclosed

AggregatorOpaque / unknown

ConsumerMint / redeem quote

Review notes & sources (5)

UTY's documented Base mint path deposits USDC 1:1 and sweeps the backing to a custodian-managed strategy. XSY discloses exchange-level liquidation risk for managed short hedges, but public sources do not identify the strategy price-feed topology, freshness bounds, or fallback controls.

Reviewed 2026-07-14

UTY

Mostly lock & mint

3 routes on 3 chains, mostly external lock & mint (2). 2 third-party (67%).

Confidence: Verified

Routes by chain (3)

Equal widths, supply split unavailable

Review notes & sources (10)

UTY uses LayerZero OFT in a Base hub-and-spoke design. Base is the sole native issuance chain: the ShareOFTAdapter at 0xc6fe7c5010621ab3ca5f4c018fad632f78b4d3f1 locks canonical UTY on outbound transfers and unlocks it on valid return, while Avalanche and Katana mint/burn OFT representations against that locked balance. Current heads show the spoke supplies equal the adapter's locked balance. Bridge owner/upgrade, peer, lockbox, and send-side ULN/DVN controls are route-scoped below; the bridge tier remains external-lock-mint.

Reviewed 2026-08-16

UTY

Possible

An admin control could restrict holders, but the review found no active power to freeze or seize a specific holder's balance on its material deployments. Typical cases are a global transfer pause, an upgradeable token contract, or a blacklist role that exists but is unassigned.

Sourced review

Power and scope

PowerPossible

ScopeCanonical · RestrictableBridged · Restrictable

Reviewed deployments (2)

BaseCanonical · Restrictable
AvalancheBridged · Restrictable

Transfer posture reviewed 2026-07-20.

Review notes & sources (7)

UTY supply is 100% on Avalanche (census 2026-10-19). At Avalanche block 97944394 (2026-10-19), the UUPS proxy 0xba515304d8153c4b162dc79f867e152df9c127eb stored implementation 0x79fc5fd276c03aaa8418871ce3a5c5767a0241ef and owner() = 0xb237eb3c71a0f351bd121b0c467248473fbc2cca, a chain-local 3-of-4 Safe; that implementation has no paused() selector. The Base deployment (same owner, implementation 0xf2f6e1a62d3d1f0efb01c28e485f1dc8b173ce2b, paused() = false) exposes pause/unpause. No implementation exposes a holder blacklist, freeze, seizure, or forced-transfer function. Owner-replaceable logic, together with the Base global pause, is a direct Possible control rather than a direct Yes. Katana was not re-verified because its RPC was unavailable.

Reviewed 2026-10-19

UTY

No public auth found

GENIUS (US): None foundPathway unresolved

Issuer disclosures

Reserve attestation: Real-time. Attestor: Accountable (Niche attestor). Cadence: Real-time.
Redemption policy: Published
Reserve disclosure: Published, open the disclosure

UTY has no public GENIUS authorization on record.

Review notes & sources (16)

GENIUS review notes

Re-verified 2026-10-07. The existing non-payment-token/not-applicable row treated UTY as a yield product with minting unavailable to the general public. Current YieldPoint documentation separates fixed USDC-denominated UTY from yield-bearing yUTY and matches the catalog UTY contract 0xba515304d8153c4b162dc79f867e152df9c127eb on Base, Avalanche and Katana. issuerEntity is newly set to XSY Foundation, the exact legal platform/token-services counterparty in the current Terms of Use. No issuer domicile is inferred from the Cayman arbitration seat. The specific U.S. Person restriction applies to yield-bearing tokens; it is not proof that UTY itself is excluded from U.S. access. Applicability changes conservatively to unclear/no-public-authorization-found because fixed USDC exchange and payment design do not establish the statutory monetary-value redemption obligation. The researcher's shipped Payable Router and hosted x402 endpoint claims are corrected: those facilities are under development, although token-level authorization standards are documented as live. No monthly independent reserve attestation was located; the Accountable hub/cache supplies public reserve data instead.

Reviewed 2026-10-07

Key links

Website Twitter Docs

Proof of Reserves

Real-Time PoR by Accountable

View reserves

Contracts

3 deployments tracked across Avalanche, Base, and Katana.

Primary contract

Avalanche

0xba51...27eb

View on Avalanche explorer

Avalanche0xba51...27eb

Base0xba51...27eb

Katana0xba51...27eb

Supply & Liquidity

History

Explore

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Move from this coin into the next useful surface: peer benchmarks, taxonomy cohorts, or live trackers that add context to what you just read.

Peers

Taxonomy

All US Dollar stablecoins CeFi-Dependent stablecoins Crypto-Collateralized stablecoins

Trackers

Stablecoin safety scores DEX liquidity rankings Depeg tracker See all delta-neutral stablecoins

Actions

Open UTY in live compare Set UTY Telegram alerts Browse stablecoin comparisons Read the daily digest Use the Pharos API

Safety

C-· 53/100

as of 2026-10-24

Peg Liquidity48· as of 2026-10-24 DEWSCalm· 9/100 · as of 2026-10-24

Backing mechanics

1.097reserve to supply ratio

Details & sources (4)

Reviewed gaps

Hedge coverageNot disclosed
The cited strategy policy pairs long spot and short derivatives but publishes no complete current spot/derivative notionals or delta-adjusted all-venue denominator. A policy target cannot be entered as an observed ratio of 1.Source
Excess backingNot disclosed
The cited Accountable reserves/supply ratio measures aggregate solvency, not posted venue margin, maintenance requirements or excess margin headroom. The previously derived 9.749788 percent is not this metric.Source
Loss absorptionNot disclosed
Aggregate reserves above supply do not establish independently funded first-loss capital or its legally committed coverage. The cited risk disclosure and dashboard do not establish a complete funded loss waterfall; no positive share or zero is inferred.Source

XSY protocol mechanics (rules-driven strategy modules: long spot + short perpetual futures, on-chain lending, structured yield)

Reviewed 2026-07-20

Access posture

Loading published access posture…

Regulatory standing

No public auth found

GENIUS (US): None foundPathway unresolved

Issuer disclosures

Reserve attestation: Real-time. Attestor: Accountable (Niche attestor). Cadence: Real-time.
Redemption policy: Published
Reserve disclosure: Published, open the disclosure

UTY has no public GENIUS authorization on record.

Details & sources (16)

GENIUS review notes

Reviewed 2026-10-07

Price Transparency

$0.9996

—Sources 0/3

Sources

Key links

Website Twitter Docs

Proof of Reserves

Real-Time PoR by Accountable

View reserves

Contracts

Avalanche0xba51...27eb

Base0xba51...27eb

Katana0xba51...27eb

News

Loading recent events…

Evidence index

Backing

CustodyStructure undisclosed

Exit

Redemption routeWaiting for section

Control

Mint AuthorityMint score loading
Price feedOpaque / unknown
Bridging & deploymentsMostly lock & mint
Freeze & seizurePossible

Profile

UTY profile facts

Unity (UTY) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.

CeFi-Dependent Crypto-Collateralized US Dollar

Collateral: USDC deposits swept to managed custody and allocated across strategy modules that may include long-spot/short-perpetual hedges, on-chain lending, liquidity provision, and structured yield; current asset and hedge weights are not publicly itemized.
Peg mechanism: Deposit USDC on Base to mint UTY 1:1; backing is swept to managed custody for strategy modules that may include long-spot/short-perpetual hedges, lending, liquidity provision, and structured yield. Base-only redemption requests burn UTY and release USDC after the 7-day bonding period.
Jurisdiction: Not disclosed in the static profile.
Proof of reserves: Real-Time PoR by Accountable Reserve source
Contracts: 3 deployments tracked across Avalanche, Base, and Katana.

Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.

UTY quick answers

What is Unity (UTY)?

UTY is YieldPoint's market-neutral synthetic dollar: USDC on Base mints UTY 1:1; Avalanche and Katana are spokes; redemption is Base-only after 7 days. The static profile records its US Dollar peg mechanism as: Deposit USDC on Base to mint UTY 1:1; backing is swept to managed custody for strategy modules that may include long-spot/short-perpetual hedges, lending, liquidity provision, and structured yield.

Is UTY safe?

As of Oct 24, 2026, Pharos grades UTY C- (53/100) 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 UTY?

Pharos records UTY's reserves as of Sep 1, 2026 as 44.8% Ethereum, 37.9% Base, 17.2% Avalanche, and 3 smaller holdings. Reserve evidence: Real-Time PoR by Accountable. Pharos classifies the backing as Crypto-Collateralized.

Can UTY 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 UTY?

Under the route Pharos reviewed on Oct 2, 2026, any holder can redeem UTY for USDC. Settlement takes multiple days. 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.

Unity (UTY)

Steady Peg, Seven-Day Exit

Backing evidence

Backing mechanics

Custody