Protocol Information
thUSD is a yield-bearing stablecoin backed by thBILL (tokenized U.S. Treasury exposure) and a hedged physical-gold carry strategy; yield accrues to holders who stake into sthUSD.
Category:RWA
Sub Category: Tokenized Trading Strategies
Audits:
Methodology
TVL: thUSD TVL equals circulating thUSD supply, built from the reserve side. On-chain reserves held in the thUSD reserve wallet — thBILL (valued at thBILL contract NAV via convertToAssets, not market price), USDC and USDT — are reported as those assets. The remainder of supply is backed by physical gold purchased and leased through StoneX and Monetary Metals and hedged with CME gold futures, and is reported as thUSD. thBILL held in the reserve is also tracked by the Theo Network thBILL adapter, which is flagged doublecounted under the Theo Network parent.View code on GitHubCompetitors
Frequently Asked Questions
What is Theo Network thUSD's TVL?
Theo Network thUSD currently has $132.27m in total value locked.
What chains does Theo Network thUSD operate on?
Theo Network thUSD operates on Ethereum. Ethereum holds the largest share at 100%.
How does Theo Network thUSD's TVL compare to similar protocols?
Among RWA protocols tracked by DefiLlama, Theo Network thUSD ranks #12 by TVL. The category holds $4.587b across 172 protocols, and Theo Network thUSD accounts for 2.9% of that total. Other leading protocols include Invesco USTB, Ethena USDtb, Re, Huma, Anemoy Capital, OpenTrade, Plume Vaults, Frax USD, Usual USD0, and Sky RWA.