USDu

USDu is the unit meant to move around one dollar. It does not rebase and its holder does not receive strategy income merely by waiting.

A user who wants the income deposits USDu and receives sUSDu. The share price rises only when a rewarder transfers earned USDu into the staking pool.

That accounting boundary matters: market price can move independently from the staking exchange rate, so USDu peg performance and sUSDu strategy performance answer different questions.

Most users swap into USDu on a market. Direct minting and collateral redemption are reserved for approved institutions, market makers and protocol accounts.

On BSC every order carries an expiry, nonce, signer, beneficiary and collateral route. Per-block caps slow throughput, while administrators decide assets, custodians, signers, limits and operational roles.

Collateral such as JLP and major assets creates a long position. Unitas opens short perpetuals and rebalances them around hourly so price moves offset each other.

The hedge can drift between adjustments; funding can reverse; an exchange, custodian or bot can fail. “Market neutral” describes continuous work, not a vault immune to liquidation or loss.

Documents describe multisig vaults plus off-exchange settlement through Copper, Ceffu and trading venues. Custodians mirror balances so positions can trade while assets remain in segregated cold storage.

This reduces direct exchange custody but adds legal and operational counterparties. A dashboard is evidence only when every vault, mirror, hedge and issued token reconciles at the same timestamp.

Unstaking burns sUSDu and moves the corresponding USDu into a withdrawal contract. The documented cooldown is seven days, during which that amount no longer earns strategy rewards. The withdrawal returns USDu tokens, not cash.

An urgent holder can sell sUSDu if a market exists, accepting price impact. Historical APR of 8-15% in stable conditions is an observation, not a floor.

The BSC token owner can replace the single minter and cannot renounce ownership. Minting contracts have gatekeeper and admin roles; staking includes blacklist and balance-redistribution powers.

The terms first say Unipay cannot unilaterally alter balances, then reserve power to freeze, burn or restrict tokens without notice for suspected breaches. Both statements belong in the control story.

The terms describe burning USDu for a pro-rata share of collateral, subject to protocol rules and throttles. Public users, however, are told direct redemption is allowlisted, so secondary liquidity may be their practical exit.

Unipay gives no guarantee of the one-dollar peg or positive yield, excludes deposit insurance and limits liability. USDu is a managed claim path through code and contracts, not cash in a protected bank account.