WEUSD

· 43/100as of 2026-11-08

WEUSD is PicWe's omni-chain wrapper with disputed USDC-vs-USDT/MOVE backing and a recent off-peg market price.

Updated —

USD-Pegged Crypto-Backed Centralized-Dependent

26 Jun 2025

Price

$0.9897

N/A

Market cap

$490.37K

0.00% 24h

Supply

495.45K WEUSD

+1.04% 7d

+1.04% 30d

DEWSWatch21/100 · as of 2026-11-08

Peg

Liq

30d Excess

Price

$0.9897

N/A

Market cap

$490.37K

0.00% 24H

Supply

495.45K WEUSD

+1.04% 7D · +1.04% 30D

30d Excess

MechanismCustodial CashMintingPermissioned FreezePossibleChains5 JurisdictionNot disclosed GENIUSNone Found

MintingPermissioned FreezePossibleChains5 JurisdictionNot disclosed GENIUSNone Found

PicWe's Disputed Dollar Wrapper

WEUSD is PicWe's omni-chain dollar token, minted and redeemed through PicWe-operated contracts on BSC, Base, Arbitrum, Plume, and Movement. The backing claim is the problem. PicWe's current documentation describes 1:1 USDC mint and , earlier PicWe materials describe a basket of roughly nine USDT to one MOVE, and no attestation or itemized reserve inventory reconciles either story. Pharos' July 2026 contract reads deepen the doubt: the EVM mint contract held under one USDC against tens of thousands of WEUSD outstanding, and the Movement package that carries most of the supply stores dual MOVE and stablecoin reserve counters far below circulating supply. Pharos therefore treats the composition as a single unresolved envelope rather than a USDC link. Mint authority is uncapped and held by a PicWe admin key. The durable constraint is a backing claim that no published evidence reconciles.

Updated 2026-10-27 · AI summary · drafted by claude-fable-5-1 · facts as of 2026-09-07

AI policy

CeFi-Dependent|Compare

Exit evidence

Redemption route · Waiting for section

Redemption evidence loads when the Risk section approaches the viewport.

Control evidence

WEUSD Mint Authority

Permissioned minters create WEUSD, controlled by an EOA and four contracts; supply is unbounded under adverse authority.

Confidence: VerifiedControl posture: Single operator

Control map

IssuerPermissioned

ControlsMinter admin EOADirect minter×4Proxy admin EOA

SupplyWEUSDUnbounded, adverse authority

Scoring breakdown

Derived posture Unknown

Component score Loading

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

Primary controls (6)

PicWe WEUSD DEFAULT_ADMIN_ROLE and MINTER_ROLE holder
Minter admin / Externally owned account
bsc / 0xc12233...c0c0bc
MintDirectCustodySingle-key address - custody unverifiable
PicWe BSC published native mint/redeem contract
Direct minter / Contract
bsc / 0x5d54f1...3ef22c
MintDirect
PicWe Base published native mint/redeem contract
Direct minter / Contract
base / 0x5d54f1...3ef22c
MintDirect
PicWe Arbitrum published native mint/redeem contract
Direct minter / Contract
arbitrum / 0x5d54f1...3ef22c
MintDirect
PicWe Plume published native mint/redeem contract
Direct minter / Contract
plume / 0x5d54f1...3ef22c
MintDirect
PicWe WEUSD Movement package publisher
Proxy admin / Externally owned account
movement / 0xf39c26...641ff6
MintUpgrade-onlyCustodySingle-key address - custody unverifiable

Review notes & sources (18)

WEUSD has independent native issuance on BSC, Base, Arbitrum, Plume, and Movement. The PicWe admin EOA is an uncapped EVM native minter/admin across the four EVM deployments, while the Movement package publisher controls the native mint/redeem modules and their undelayed compatible upgrades. PicWe's self-built burn/mint bridge contract, relayer, and bridge-module upgrade surface are assessed separately under bridgeRouteRisk.

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

WEUSD

All burn & mint

5 routes on 5 chains, all issuer burn & mint.

Confidence: Verified

Routes by chain (5)

Equal widths, supply split unavailable

Review notes & sources (14)

WEUSD's bridge overlay is PicWe's own issuer-native burn-on-source / mint-on-destination route, distinct from the five deployments' independent native issuance assessed under Mint Authority. PicWe's cross-chain-transfer docs state that the source chain burns and the target chain mints through a self-built route with PicWe-operated keepers; no Wormhole, LayerZero, CCIP, canonical-rollup, or external validator network was found. Structured controls now cover the four EVM Cross-Chain contracts, the common PicWe admin EOA, the reviewed Base role-hash holder, the Movement cross-chain relayer, and the Movement package publisher's bridge-module upgrade authority. Keeper quorum, role semantics, replay protection, and complete operator membership remain unverified; the route has no verified independent prudential limit or third-party attestation.

Reviewed 2026-08-16

WEUSD

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 · PermissionlessBridged · RestrictableBridged · Permissionless×2

Reviewed deployments (4)

BSCCanonical · Permissionless
ArbitrumBridged · Permissionless
BaseBridged · Permissionless
MovementBridged · Restrictable

Transfer posture reviewed 2026-07-22.

Review notes & sources (22)

WEUSD remains Possible because its material Movement implementation is mutable; an active holder blacklist or arbitrary-target burn has not been established. The 2026-10-19 census places 94.8441% on Movement, 4.3694% on BSC, 0.4914% on Arbitrum and 0.2952% on Base. The dominant legacy Movement package is 0xed805e77c40d7e6ac5cd3e67514c485176621a2aa21e860cd515121d44a2f83d and catalogued current package 0xf39c2674014dc3b3af9fd77f31ac69aa9398d8031f2c13a73fccbaca65641ff6. At ledger 230069132, block 102194701, 2026-10-19T06:15:54.992205Z, PackageRegistry respectively records compatible policy1 / upgrade_number17 and policy1 / upgrade_number0; publisher authentication keys remain nonzero. Current-package weusd stores MintRef, TransferRef and BurnRef, with burn friend-only to mint/redeem and cross-chain modules and no public freeze function established. The material legacy ABI additionally exposes public weusd::deprice(address,u64,&signer), and its friend utils exposes public entry deprice with the same arbitrary-target argument shape plus initialize_admin(address,&signer) and get_admin(). These signatures require investigation beyond merely noting friend-only burn; their bodies are not published in the on-chain package source/source map. At the pinned ledger the legacy publisher has no utils::AdminConfig resource (direct REST 404 and full resource inventory); its separate price_oracle admin does not establish a utils admin. The module address table contains only the publisher and 0x1, and get_admin takes no caller/address input. [INFERENCE] The missing publisher admin state prevents an active legacy utils authority; no live Yes path is asserted from this alone. A nonpersistent simulation at version 230095764 using the actual publisher public key and a zero signature reached VM validation but returned INVALID_MAIN_FUNCTION_SIGNATURE for utils::deprice(publisher,1), not a successful holder intervention. This result does not rule out invocation through a Move script. Publisher-controlled compatible module replacement independently establishes Possible. Mint/redeem and cross-chain pause/unpause do not independently establish a holder-transfer freeze. Existing EVM reviews found fixed ERC20Burnable/AccessControl/Permit mint-only privilege, allowance-gated burnFrom, no holder blacklist/freeze/pause and zero implementation slot on BSC at block 113074656 (2026-07-30T20:34:28Z). Plume totalSupply at block 100304588 (2026-10-19T06:17:16Z) was 12.200567 WEUSD, approximately 0.002488% of same-day listed 490369.799840 supply; it is peripheral. No parent is declared. Reserves remain unreconciled: public 100% USDC claims do not match the reviewed dual MOVE/stablecoin state or establish a measured >50% reserve exposure. Any qualifying upstream risk is secondary to direct Possible.

Reviewed 2026-10-19

WEUSD

No public auth found

GENIUS (US): None foundPathway unresolved

Issuer disclosures

Reserve attestation: Not found
Redemption policy: Published
Reserve disclosure: Not recorded

WEUSD has no public GENIUS authorization on record.

Review notes & sources (13)

GENIUS review notes

Reviewed 2026-10-28. PicWe docs describe 1:1 USDC minting and USDC redemption with a 1% redemption fee while the FAQ claims instant fee free 1:1 redemption; the published route converts only into USDC, a digital asset. PicWe FAQ decentralization claims coexist with emergency pause controls, and no disclosure names a legal WEUSD issuer, so no issuerEntity is supplied. The PicWe Wallet terms bind only Copariot Labs for a non-custodial wallet service and do not create a WEUSD issuance obligation. Base coin notices record disputed backing and a market price below one dollar; that is a peg quality issue and not a statutory classification ground. No exact token public GENIUS approval, application, state qualification, foreign registration or enforcement action was found in the checked sources, and GENIUS remains pre-effective in the reviewed primary sources.

Reviewed 2026-10-28

Backing disclosure conflict and active depeg

WEUSD trades near $0.91 while PicWe's current docs describe 1:1 USDC backing and older PicWe-linked materials describe a roughly 9 USDT + 1 MOVE basket. Treat the peg and redemption model as disputed until PicWe publishes reconciled reserve evidence.

Key links

Website Twitter Docs

WEUSD Contracts

5 deployments tracked across BSC, Base, Arbitrum, and Plume, plus 1 more.

Primary contract

BSC

0xdd73...9d56

View on BSC explorer

BSC0xdd73...9d56

Base0xdd73...9d56

Arbitrum0xdd73...9d56

Plume0xdd73...9d56

Movement0xf39c...1ff6

Contract addresses (5)

BSC 0xdd73ea766b80417c0607a3f08e34a0c415d89d56
Base 0xdd73ea766b80417c0607a3f08e34a0c415d89d56
Arbitrum 0xdd73ea766b80417c0607a3f08e34a0c415d89d56
Plume 0xdd73ea766b80417c0607a3f08e34a0c415d89d56
Movement 0xf39c2674014dc3b3af9fd77f31ac69aa9398d8031f2c13a73fccbaca65641ff6

Supply & Liquidity

History

Explore

Explore next

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

All US Dollar stablecoins

Taxonomy

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

Trackers

Stablecoin safety scores DEX liquidity rankings Depeg tracker See all fiat-backed stablecoins

Actions

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

Safety

D· 43/100

as of 2026-11-08

Peg Liquidity DEWSWatch· 21/100 · as of 2026-11-08

Access posture

Loading published access posture…

Regulatory standing

No public auth found

GENIUS (US): None foundPathway unresolved

Issuer disclosures

Reserve attestation: Not found
Redemption policy: Published
Reserve disclosure: Not recorded

WEUSD has no public GENIUS authorization on record.

Details & sources (13)

GENIUS review notes

Reviewed 2026-10-28

Price Transparency

$0.9897

HighSources 1/3

Sources

Protocol Redemption

Key links

Website Twitter Docs

WEUSD Contracts

BSC0xdd73...9d56

Base0xdd73...9d56

Arbitrum0xdd73...9d56

Plume0xdd73...9d56

News

Loading recent events…

Evidence index

Exit

Redemption routeWaiting for section

Control

Mint AuthorityMint score loading
Bridging & deploymentsAll burn & mint
Freeze & seizurePossible

Profile

WEUSD profile facts

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

CeFi-Dependent Crypto-Collateralized US Dollar

Collateral: PicWe's current public docs describe WEUSD as minted and redeemed 1:1 against USDC during Phase 1, while the mint-authority review and earlier PicWe materials describe basket-style backing around 9 USDT + 1 MOVE. Pharos treats the backing model as disputed until PicWe reconciles the documentation with on-chain and market evidence.
Peg mechanism: Issuer-operated mint/redeem route through PicWe contracts. Current PicWe docs describe 1:1 USDC mint and redemption, but earlier basket materials and persistent secondary-market pricing near $0.91 indicate unresolved redemption/backing ambiguity.
Jurisdiction: Not disclosed in the static profile.
Proof of reserves: No proof-of-reserves entry in the static profile.
Contracts: 5 deployments tracked across BSC, Base, Arbitrum, and Plume, plus 1 more.

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

WEUSD quick answers

What is WEUSD?

WEUSD is PicWe's omni-chain wrapper with disputed USDC-vs-USDT/MOVE backing and a recent off-peg market price. The static profile records its US Dollar peg mechanism as: Issuer-operated mint/redeem route through PicWe contracts.

Is WEUSD safe?

As of Nov 8, 2026, Pharos grades WEUSD D (43/100) 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 low-band grade, which flags significant structural risk. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.

What backs WEUSD?

Pharos records WEUSD's reserves as of Jul 30, 2026 as 100% PicWe WEUSD backing (docs 100% USDC claim; Movement dual MOVE+stablecoin mint-state; unreconciled). Reserve evidence: curated reserve profile. Pharos classifies the backing as Crypto-Collateralized.

Can WEUSD 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 WEUSD?

Under the route Pharos reviewed on May 11, 2026, any holder can redeem WEUSD for USDC. Redemption settles atomically on-chain. The reviewed redemption fee is 1%. Whether a given holder qualifies is set by the route's own terms, not by this summary.

WEUSD

PicWe's Disputed Dollar Wrapper