Cygnus Finance Global USD

Cygnus Finance Global USD, cgUSD for short, is a yield-bearing stablecoin issued on the Base network and intended to be pegged to the US dollar. According to information on CoinGecko, the protocol is managed by Cygnus Information Limited, and its reserves consist of short-term US Treasury bills and assets with high credit ratings held off-chain. In this respect, it belongs to the group of stablecoins based on real-world assets.

The yield on cgUSD is reflected in holders' balances without a separate staking step: the token distributes interest income by increasing the amount in the wallet through a daily rebase. Because tokens whose balances change automatically can have compatibility issues with some decentralized finance protocols, its range of use depends on integrations. The token's liquidity on Base sits mainly in Curve pools.

The dollar peg of cgUSD depends on the existence and auditing of the off-chain reserves, counterparty risk related to the issuer, how the redemption process works and the depth of liquidity in the pools. The Lzzo.com page features DefiLlama's US dollar reference price; the chart is based on the same source's historical data.