Following EURA's success as the leading Euro stablecoin (constituting 60% of onchain Euro DEX trades), we recently expanded our offering with USDA, our new U.S. Dollar stablecoin.
With the USD's central position in the crypto market, this new stablecoin expands our reach to a wider audience compared to EURA (prev. agEUR).
Yet, the market is flooded with an abundance of USD stablecoins, with new ones emerging monthly. For users, whether you’re an individual or a professional such as a crypto treasury manager, choosing the right stablecoin is a complex decision.
So, why choose USDA over another stablecoin? What makes it the premier choice?
Unwavering stability
It might sound paradoxical but the ability to maintain stability and ensure a 1:1 peg with the underlying asset remains a differentiating factor in the realm of stablecoins.
The first thing we expect from a stablecoin is reliability. It should be a no-brainer.
When choosing USDA, you get a battle-tested and multi-audited stablecoin infrastructure designed to withstand any adverse market condition.
USDA relies on Angle's proprietary Price Stability Module (PSM) incorporating advanced anti-depeg mechanisms.
This risk management framework, created in August 2023 and continuously refined, draws upon three years of research & development on EURA and insights gained from recent stablecoin depeg incidents such as USDC in March 2023.
Native yield
Stablecoins are supported by a reserve of assets. These assets in the backing generate yield. However, major stablecoin projects do not redistribute it.
Angle automatically allocate the yield generated by the assets in USDA’s reserves (DeFi assets, others liquid stablecoins and real-world assets (RWAs) such as tokenized government bonds) to its users.
By using USDA, you can easily & passively earn a yield on your USD stablecoins on the Ethereum, Arbitrum, Base and Optimism networks. You simply need to exchange your USDA for stUSD — a staked version of USDA — by depositing them into Angle savings product.
It’s permissionless. There is no minimum deposit, no lockup period, no deposit fees, and no withdrawal fees.
Yield is always appreciated, but it can also sometimes be a source of concern. Where does it come from? Is it sustainable?
Since USDA is your new reliable stablecoin, we decided to offer you the utmost risk-adjusted yield achievable coming from the returns generated by the DeFi and tokenized TradFi assets in the backing. With stUSD, you will enjoy the highest secure yield effortlessly, requiring no action from you.Additionally, by holding stUSD, you gain exposure to RWAs in the backing, such as tokenized BlackRock ETFs, and benefit from their yields.
Transparency
Stablecoins are frequently criticized for their lack of transparency and the opacity surrounding their reserves, which underpin their peg to the dollar.
USDA is transparent. Its infrastructure has undergone multiple audits, and several bug bounty programs have been run on it. Everything run on smart contracts and is fully visible onchain.
You can track collateral reserves behind each USDA in real-time by checking USDA’s Balance Sheet on Angle website. Don’t trust, verify!
Institutional-grade risk management
Many stablecoins have failed to maintain their peg due to poorly designed mechanisms or nonexistent asset liability management.Ensuring that a stablecoin maximizes its risk-adjusted returns and maintains its peg at scale requires professional management and advisory.
Steakhouse Financial experts, a financial advisory for DAOs, advises Angle on managing the reserves supporting USDA, guaranteeing an institutional-grade experience for every USDA holder.
Easy access
Why launching a stablecoin if it's not easily accessible?
Unlike many other stablecoin projects, getting USDA will be as simple as a swap.
We decided to make USDA as liquid as one of the most liquid stablecoin on the market: USDC. You will be able to swap your USDC to USDA, and vice versa, at 0 fees, instantly. Getting in is as easy as getting out.
You can get USDA by swapping your assets on the Angle app or on DEXs such as Uniswap, 1inch, ParaSwap and Odos. You can also borrow USDA directly on Morpho Blue.
Finally, various on-ramp will soon offer the possibility to buy USDA with fiat.
Composability
Rather than building everything ourselves, we have chosen to work with experts in their fields.
Real-world assets (RWAs) used as USDA collaterals are tokenized by Backed Finance.
Steakhouse Financial advises Angle on reserve risk management.
Another example of DeFi-composability is Morpho that provides the lending and borrowing infrastructure of USDA on Ethereum. With Morpho Blue — a permissionless lending protocol with customizable risk parameters — you can easily lend USDA and earn yield, or borrow USDA against a large set of collaterals such as liquid restaking tokens (LRTs).
Forex & remittences
More than a stablecoin, USDA is a DeFi Superconductor that will facilitate onchain forex remittances with faster and cheaper transactions.
EURA, our Euro stablecoin, is already the preferred route to exchange any USD to Euro stablecoins. With USDA and EURA, we will be able to offer onchain trades at the same price as traditional forex platforms between our two stablecoins, but also between any Euro and USD stablecoins.USDA is the most complete stablecoin providing everything you could expect from a stablecoin.
USDA is dollar-based, reliable, yield-generating, easily accessible, decentralized and transparent. It gives access to RWAs. Plus, USDA advocates for a cause with a clear objective: to facilitate onchain forex and money transfers. What more is there to ask for?
