Summary:
Proposal to add USPD/USDC to the Gauge Controller.
References/Useful links:
• Website: https://uspd.io/
• Documentation: USPD Overview
• Github Page: Github
• Discord: USPD.io
Protocol Description:
USPD is a decentralized, permissionless, and natively yield-bearing stablecoin with on-chain proof of reserves, designed to maintain a stable 1:1 peg with USD through a unique stabilizer mechanism and ETH collateralization.
Every USPD token is backed by a surplus of ETH collateral (a combination of users’ stETH and Stabilizers ETH). The complex task of managing the collateral’s price volatility is handled entirely by a separate, professional network of “Stabilizers.”
Motivation:
For the USPD to bring our vision of a decentralised, permissionless medium of exchange to life, it is detrimental to have a deep, on-chain liquidity layer to maximise capital efficiency, tighten the spread and keep the peg stabile. However, deep liquidity doesn’t come overnight; one needs to bootstrap and keep the LP yields attractive enough to compensate liquidity providers for the opportunity cost of capital, especially at the early stages.
Gauge addition will allow USPD to incentivize LPs with CRV emissions, either through direct voting or indirect incentives for voters.
Specifications:
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Governance: Governance structure and tokenomics are being in works at the moment, more details will be revealed at the later stage.
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Oracles: Custom price oracle for minting/burning USPD - it validates its price against Chainlink and Uniswap.
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Audits: You can see audits here.
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Centralization vectors: USPD is a decentralized, permissionless protocol, minting is strictly limited to collateral minting (ie no USPD can be minted out of thin air).
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Market History: USPD soft-launched in September 2025; all of the issued USPD can be redeemed 1:1 for their stETH collateral. See system health and proof of reserves here.
Vote
We would be grateful if someone could assist with putting this gauge up for vote for us. Thank you for your support.