Circle USYC protocol
Overview
Circle USYC is an ERC-20 token issued by Circle (originally created by Hashnote, which Circle acquired in January 2025) that represents ownership in a tokenized money market fund investing in short-term U.S. Treasuries and reverse repurchase agreements. It falls under the Real-World Assets (RWA) category and is used to provide on-chain exposure to low-risk government debt yield.
Within the DeFi Intel graph, Circle USYC connects to 4 tracked entities, most strongly to Ethereum, Solana, BNB Chain.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 4 of 4 total).
| Relation | Connected entity | Confidence |
|---|---|---|
deployed_on | Ethereum | 95% |
deployed_on | Solana | 90% |
deployed_on | BNB Chain | 85% |
audited_by | Halborn | 70% |
Frequently asked questions
What is Circle USYC?
Circle USYC is a tokenized short-term U.S. Treasury fund by Circle, designed to offer yield on-chain to holders while maintaining redemption at par.
How does Circle USYC generate yield?
Yield is generated from the underlying portfolio of short-term U.S. Treasury securities, distributed to token holders via a net asset value (NAV) mechanism that increases over time.
Is Circle USYC a stablecoin?
No, Circle USYC is not a stablecoin; its value fluctuates slightly with the accrual of yield, but it is designed to maintain a stable NAV near $1 per token.
What is Circle USYC connected to?
In the DeFi Intel knowledge graph, Circle USYC is linked to 4 other tracked entities, most strongly to Ethereum, Solana, BNB Chain.
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