Plume USD (pUSD)
The RWAfi stablecoin to use to get real-world yield across the Plume ecosystem.
Overview
Plume USD is the premier stablecoin of the Plume ecosystem, designed to support seamless financial operations within Real World Asset Finance (RWAfi). Fully backed and deeply liquid, Plume USD plays a critical role in enabling secure payments, efficient trading, and robust collateralization across onchain apps on Plume.
If your organization is used to holding, minting, and deploying USDC, you will be clear to hold, mint, and deploy pUSD. While pUSD is the canonical stablecoin of the Plume ecosystem, used as the unit of account and collateral across DeFi protocols and applications, it is for all intents and purposes a simple way to reduce onboarding friction during capital deployment. It is 1:1 tied to USDC as it is a wrapper for it.
Chains Supported: Native minting and redemption on both Ethereum and Plume.
Composition
Plume USD maintains a 1:1 peg with the US dollar, backed by a reserve of the world’s most trusted stablecoins. This ensures deep liquidity, robust price stability, and unparalleled user confidence.
All pUSD minted must be backed by USDC deposited into a BoringVault.
Users can deposit USDC (or USDT) to mint pUSD; redemption is guaranteed at 1:1 in USDC.
Backing Assets: pUSD is backed 1:1 by USDC.
Conversion Logic: Nucleus, an onchain asset rebalancing system, dynamically manages the vaults and ensures there’s sufficient liquidity in USDC.
No Fees: Minting and redemption incur no protocol fees.
Stability
pUSD is completely stable, as it is based on USDC.
Stability Design: No algorithmic mechanism. Simply a fully collateralized wrapper.
No Native Yield: pUSD is not yield-bearing in its base form. Future staking wrappers are under design but explicitly opt-in and will not impact pUSD backing.
Risk Management
Collateral Risk: Full reliance on the solvency and liquidity of USDC. No overcollateralization, but immediate 1:1 convertibility.
Depeg Mitigation: Underlying treasury vault manager (Nucleus) rebalances to ensure users can redeem at a fair market price.
Oracle Dependency: The oracle source is permissionless and validated onchain to protect against manipulation.
How to mint pUSD
Connect your wallet
Enter your amount and Approve
Transfer
You now have minted pUSD in your wallet ready to explore the many DeFi use cases powered by Real World Assets on Plume.
Compliance
Legal Structure: pUSD is minted using the vault contract deployed by Nucleus. The underlying USDC is issued by Circle. No direct custodianship of fiat; pUSD simply wraps USDC with transparent, onchain backing.
Regulatory: pUSD is a non-interest-bearing tokenized wrapper on USDC. No fiat conversion or custody occurs within Plume.
Smart Contracts
Audits:
About Minting and Burning Plume USD
Minting and managing Plume USD will be seamless and intuitive:
Bridge and Mint: Move assets from Ethereum or other networks and mint Plume USD on Plume.
Supports USDC and USDT: Deposit popular stablecoins to mint Plume USD.
Swap Back: Convert Plume USD back into the stablecoins you deposited, whenever you need.
Planned update: Earn with Plume USD
Integrate Plume USD
Technical documentation and APIs to integrate Plume USD into your RWAfi apps on Plume will be made accessible at launch.
Brand assets
Last updated
