USDu (Unitas)

USDu is a soft-pegged, over-collateralized US dollar stablecoin issued by the Unitas protocol. Unitas's official documentation lists the Solana and BNB Chain contract addresses in the catalogue entry as USDu's official contracts; this page therefore describes Unitas USDu. USDU Finance, which DefiLlama tracks on Ethereum and which has a similar name, is a different project.

According to the documentation, collateral is placed in spot assets and price risk is offset with derivatives positions, with the aim of generating yield without taking directional risk. Yield comes from liquidity provision fees, funding rate payments in futures markets and the protocol's minting, redemption and liquidation fees. By staking USDu, users receive sUSDu, which grows in value over time; the yield accrues to this staked version, not directly to USDu.

Although the description on CoinGecko states that USDu is backed by cash and short-term Treasury securities, the current official documentation describes the collateral structure in terms of delta-neutral strategies; this text follows the official documentation. A reversal of funding rates, as well as exchange and custody risks, can affect the peg; according to the Rugcheck warning on CoinGecko, the creator of the Solana contract has powers such as minting new tokens and restricting transfers. The USDu value on Lzzo.com is based on DefiLlama's US dollar reference and is for information only.