wzdUSD

wzdUSD is a share of the Yield Engine's pool, on Solana.

Not live for customers. Deposits and redemptions are not open.

What it is

• Each wzdUSD is one share of the pool's main tranche.

• Its value is the pool's share price: the pool's net asset value divided by the number of shares. Holding wzdUSD means holding a balance of shares times that price.

• As the pool earns, the share price rises. If the pool loses more than its first-loss buffer, the share price falls.

What it is not

wzdUSD is not a stablecoin. It does not promise to be worth exactly US$1, and it can be worth less. If you want a token designed to stay at US$1, hold USDC.

How it is backed

• wzdUSD is minted when shares in the pool are locked behind it, and burned when they are redeemed.

• The transparency page is designed to show, as each part goes live, that wzdUSD supply never exceeds the shares behind it.

Using wzdUSD

• Redeem it for its share of the pool, once redemptions open.

• Borrow against it through the Credit Engine, once that opens.

Status

In development.