---
title: "Aegis YUSD (YUSD) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/yusd-aegis/"
description: "Build-time stablecoin profile for Aegis YUSD (YUSD). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-06-03"
---



# Aegis YUSD (YUSD)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

A delta-neutral BTC-collateralized synthetic dollar with best-in-class proof-of-reserves but a poor C- grade — yield is funding-rate roulette priced into the score.

Aegis YUSD is a {{term:delta-neutral}}delta-neutral{{/term}} stablecoin built entirely on BTC — spot long at Fireblocks, Copper, and Ceffu under institutional {{term:custody}}custody{{/term}} hedged by COIN-M {{term:perpetual}}perpetual{{/term}} shorts — which means the C- grade is the market's verdict on using an active {{term:basis-trade}}basis-trade{{/term}} position as collateral. Dozens of historical depeg events with a worst excursion of +1705 bps tell the story of a token whose peg stability is a function of {{term:funding-rate}}funding-rate{{/term}} economics and exchange availability, not reserve quality. Real-time proof-of-reserves through Accountable is genuinely best-in-class transparency — you can watch the positions live, which is more than Ethena offers — but transparency doesn't reduce the underlying risk of CEX custody concentration. The grade sits in poor territory because the funding-rate yield is priced against the scenario where negative rates eat the insurance fund faster than it refills.

## Collateral

Bitcoin held in institutional custody (Fireblocks, Copper, CEFFU); delta-neutral hedge via COIN-M perpetual futures; funded by user deposits of USDT, USDC, or DAI converted to BTC

## Peg Mechanism

Delta-neutral hedging: BTC spot long + COIN-M perpetual short; 1:1 redemption via Aegis Mint contract; funding rate yield distributed to registered YUSD holders; insurance fund backstop for extreme events

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| British Virgin Islands | N/A | N/A |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x4274cd7277c7bb0806bd5fe84b9adae466a8da0a` | 18 |
| bsc | `0xab3dbcd9b096c3ff76275038bf58eac10d22c61f` | 18 |
| avalanche | `0xca2671dcd031a72359f456c212f62a9bda737cd7` | 18 |

## Live Data

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