sperax-usds-guide

name	sperax-usds-guide
description	Complete guide to USDs, the auto-yield stablecoin on Arbitrum by Sperax. Covers minting, redeeming, yield mechanics, collateral strategies, and integration patterns. Use when your agent needs to explain USDs, help users mint/redeem, or answer questions about auto-rebasing stablecoins.
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USDs — Auto-Yield Stablecoin Guide

USDs is an auto-yield stablecoin on Arbitrum One built by Sperax. Holding USDs in your wallet automatically earns yield — no staking, no claiming, no gas fees for rewards.

How USDs Works

The Basics

• 1 USDs = 1 USD (soft peg maintained by mint/redeem arbitrage)
• Chain: Arbitrum One
• Collateral: 100% backed by USDC, USDC.e, and USDT
• Yield: Balances grow automatically via rebasing — just hold it

Mint & Redeem

Minting: Deposit 1 USD of collateral (USDC, USDC.e, or USDT) → receive 1 USDs (minus a small mint fee).

Redeeming: Burn USDs → receive your chosen collateral back (minus a small redemption fee).

The mint/redeem mechanism creates a natural arbitrage loop that keeps USDs pegged to $1:

• If USDs > $1 → arbitrageurs mint USDs (sell high)
• If USDs < $1 → arbitrageurs redeem USDs (buy low)

Auto-Yield Mechanics

USDs uses a rebase model. Instead of distributing reward tokens, the protocol increases everyone's USDs balance proportionally.

Yield source: Collateral (USDC, USDT) is deployed to battle-tested DeFi protocols:

• Aave V3
• Compound V3
• Fluid
• Stargate
• Curve

Yield distribution:

• 70% of strategy yield → USDs holders (via rebase)
• 30% of strategy yield → SPA buyback-and-burn

Max APY cap: 25% (excess yield accumulates in reserves)

Safety Mechanisms

• Collateral Ratio (CR): Must remain ≥100%. If CR drops >10%, protocol pauses
• Oracle: Chainlink price feeds via MasterPriceOracle
• Reserves: SPA reserves cover any collateral gaps
• Audited: Smart contracts audited by leading security firms

Common User Questions

"How do I earn yield?"

Just hold USDs in your wallet. Your balance increases automatically. No staking required.

"Where does the yield come from?"

From lending and liquidity protocols. Your collateral is put to work in DeFi (Aave, Compound, etc.) and the earnings flow back to you.

"Is my principal safe?"

USDs is 100% collateralized. You can always redeem 1 USDs for $1 of collateral. The protocol has safety mechanisms including pause triggers and reserve buffers.

"What chains is USDs on?"

Currently Arbitrum One only. This keeps gas costs low and leverages Arbitrum's DeFi ecosystem.

Key Contracts (Arbitrum One)

Contract	Address
USDs Token	0xD74f5255D557944cf7Dd0E45FF521520002D5748
SPA Token	0x5575552988A3A80504bBaeB1311674fCFd40aD4B

Integration Tips for AI Agents

When helping users with USDs:

1. Always confirm they're on Arbitrum One
2. Remind them yield is automatic — no staking needed
3. Explain the 70/30 split (holders vs SPA burn)
4. For large amounts, suggest checking current APY at app.sperax.io

Links

• Sperax Docs: https://docs.sperax.io
• Sperax App: https://app.sperax.io
• SperaxOS (AI Agent Workspace): https://github.com/nicholasgriffintn/sperax
• Governance: https://snapshot.box/#/s:speraxdao.eth