USD Somnia(USDso)

Stablecoin Information

USDso is a USD-pegged stablecoin available on the Somnia network. Minting and redemption are operated by Frax through its FraxNet branded-stablecoin program: USDso is collateralized 1:1 by frxUSD held in a Frax-operated BrandedCustodian vault on Somnia, with frxUSD's reserves consisting primarily of tokenized US Treasuries (BUIDL, USTB, USCC, WTGXX, JTRSY) and cash equivalents.

Category:fiat-backed

Minting and RedemptionMinting and redemption are handled by Frax on Somnia through the BrandedCustodian (an ERC-4626 vault): frxUSD is deposited 1:1 to receive USDso, and USDso can be burned via the same vault to receive the equivalent frxUSD. Cross-chain mint and redeem with USDC on supported chains is provided through Frax's orchestration API and CrossChainRouter.

Audits:No