# Unitas Overview

### **1. General Overview**

Unitas is a yield infrastructure protocol for onchain finance built on a basket of delta-neutral strategies.

Capital is deployed across multiple market-neutral positions that generate yield from trading activity, funding rates and protocol fees while taking no directional exposure.

Strategies operate across different assets and integrations, with execution designed to capture revenue while managing price exposure.

| Metric            | Value                     | Notes                                    |
| ----------------- | ------------------------- | ---------------------------------------- |
| Core yield engine | Basket of strategies      | Market-neutral, no directional exposure  |
| Stablecoin        | **USDu** (soft-peg 1 USD) | Overcollateralized                       |
| Savings token     | **sUSDu**                 | Auto-compounds yield, increases in value |
| Launch chain      | Solana, BSC               | EVM expansion planned                    |

{% hint style="warning" %}
Security Notice: Please ensure that you interact only with the official smart contracts and receipt tokens listed below.
{% endhint %}

<table><thead><tr><th width="88.7421875">Token</th><th width="92.27734375">Chain</th><th width="475.99609375">Address</th><th width="111.27734375">Explorer</th></tr></thead><tbody><tr><td><strong>USDu</strong></td><td>Solana</td><td>9ckR7pPPvyPadACDTzLwK2ZAEeUJ3qGSnzPs8bVaHrSy</td><td><a href="https://solscan.io/token/9ckR7pPPvyPadACDTzLwK2ZAEeUJ3qGSnzPs8bVaHrSy">Link</a></td></tr><tr><td><strong>sUSDu</strong></td><td>Solana</td><td>9iq5Q33RSiz1WcupHAQKbHBZkpn92UxBG2HfPWAZhMCa</td><td><a href="https://solscan.io/token/9iq5Q33RSiz1WcupHAQKbHBZkpn92UxBG2HfPWAZhMCa">Link</a></td></tr><tr><td><strong>USDu</strong></td><td>BSC</td><td>0xea953ea6634d55dac6697c436b1e81a679db5882</td><td><a href="https://bscscan.com/token/0xeA953eA6634d55dAC6697C436B1e81A679Db5882">Link</a></td></tr><tr><td><strong>sUSDu</strong></td><td>BSC</td><td>0x385c279445581a186a4182a5503094ebb652ec71</td><td><a href="https://bscscan.com/token/0x385C279445581a186a4182a5503094eBb652EC71">Link</a></td></tr></tbody></table>

***

### **2. Yield Sources**

Unitas generates yield from a combination of delta-neutral strategies executed across supported markets.

Revenue is derived from:

* Trading fees from liquidity provisioning
* Trader PnL transferred to liquidity providers
* Funding rate payments from perpetual markets
* Protocol fees from minting, redemption and liquidation

Each strategy contributes to total protocol revenue, which is aggregated and redistributed.

***

### **3. Delta-Neutral Strategy Execution**

Unitas deploys collateral into spot holdings and offsets price exposure using derivatives.

General position construction:

Collateral asset acquired

* short perpetual positions sized to match exposure\
  ⇒ minimal delta exposure + yield from fees and funding

Execution is continuous, with rebalancing based on market conditions and exposure changes.

Result:

* Yield sourced from trading activity and funding
* Removed exposure to asset price movements
* Capacity linked to underlying market liquidity and demand

***

### 4. sUSDu: Yield-bearing Savings Token

Staking USDu mints **sUSDu**. Its exchange rate rises as the protocol redistributes:

* JLP fee carry
* Funding rate premiums from the short leg of the trade
* Protocol fees (mint/redeem/liquidation)
* Other market-neutral strategies

Historical APR in stable conditions: **8 – 15 %** (USD-denominated).

***

### 5. User Flow

<table><thead><tr><th>Action</th><th width="286.08984375">On-chain steps</th><th>Fee</th></tr></thead><tbody><tr><td>Mint USDu</td><td>Collateral → USDu, perp short opens</td><td>0 %</td></tr><tr><td>Stake to sUSDu</td><td>USDu deposited into a staking contract, sUSDu minted</td><td>0 %</td></tr><tr><td>Unstake</td><td>sUSDu burned → corresponding USDu enters a 7-day cooldown pool</td><td>0 %</td></tr><tr><td>Withdraw</td><td>Withdraw from cooldown pool</td><td>0 %, after initiating the cooldown, your USDu becomes withdrawable once the 7-day period has passed.</td></tr><tr><td>Redeem collateral</td><td>USDu burned, perps positions closed → collateral redeemed</td><td>0 %</td></tr></tbody></table>

***

### 6. Risk Management

| Risk              | Mitigation                                                      |
| ----------------- | --------------------------------------------------------------- |
| Price moves       | Hourly re-hedged perp shorts                                    |
| Trader PnL spikes | 10% of fees to Insurance Fund + circuit breaker                 |
| Venue failure     | Per-exchange hedge caps + OES (off-exchange settlement) custody |
| Smart contract    | Multiple audits                                                 |
| Regulatory        | Optional KYC gating, DAO-controlled lists                       |

***

### 7. Governance & Fee Split

* **Guardian Council (5/9 multisig)** – emergency powers.
* **Unipay DAO** – fee schedule, collateral onboarding.

Revenue flow:

* 80% → sUSDu holders
* 10% → Insurance Fund
* 10% → Treasury / buy-backs

***

### 8. Roadmap

| Milestone                          | ETA     | Status    |
| ---------------------------------- | ------- | --------- |
| USDu v1 (Solana)                   | Q3 2025 | Live      |
| Cross-chain USDu (LayerZero)       | Q4 2025 | Design    |
| Unipay Card (USDu spend)           | Q1 2026 | Prototype |
| Permissionless collateral adapters | 2026    | Research  |

***

### 9. Disclaimers

USDu **is not** a bank deposit nor government-insured. Holding USDu/sUSDu entails smart contract, counterparty, and market risks, including peg deviation or negative yield if perp volume collapses. \
Review the [Terms of Service](https://docs.unitas.so/resources/terms-of-service) before use.

***

### 10. Links

* Website: <https://unitas.so/>
* App: [https://app.unitas.so](https://app.unitas.so/buy)
* Docs: <https://docs.unitas.so/>
* GitHub: <https://github.com/Unipayfi>
* Email: <legal@unipay.fi>

***


# UP

UP Token Overview

**UP** is the native governance token of **Unitas**, designed to align long-term stakeholders with the sustainable growth of the protocol.

UP holders govern the evolution of Unitas by voting on key protocol parameters, including risk frameworks, economic policies, and the potential activation of protocol fee distribution.

Unitas does not employ token buybacks or artificial value mechanisms. Instead, UP’s long-term value is intended to be directly linked to the protocol’s real, transparent revenue generation.

***

### Design Principles

The UP token is designed around four core principles:

1. **Long-term Alignment**\
   UP rewards long-term participants who actively govern and support the protocol, rather than short-term speculative behavior.
2. **Revenue-Driven Value**\
   Any potential value accrual to UP is derived from Unitas’ real protocol revenue, not inflationary incentives or financial engineering.
3. **Governance First**\
   UP is fundamentally a governance token. All economic mechanisms, including fee distribution, are subject to on-chain governance approval.
4. **Transparency and Verifiability**\
   Unitas commits to honest, ongoing disclosure of protocol revenue and economic activity as the basis for governance decisions.

***

## Governance

UP holders may participate in governance to propose and vote on protocol changes, including but not limited to:

* Risk parameters for USDu / sUSDu
* Yield allocation policies
* Supported strategies and integrations
* Protocol fee structures
* Activation or modification of the protocol fee switch

All governance actions are executed through on-chain proposals and voting.

***

## sUP: Staked UP

To align governance participation with long-term commitment, UP can be staked to receive **sUP**.

* **sUP represents locked UP**
* **Only sUP holders are eligible for protocol fee distribution if enabled**
* Staking UP into sUP is voluntary and reversible, subject to protocol-defined lock and cooldown rules

sUP does not introduce additional supply and does not represent a separate token issuance.

***

## Fee Switch

### Overview

Unitas includes an optional **fee switch** mechanism that, if enabled through governance, allows protocol revenue to be distributed to sUP holders.

The fee switch is **not active by default** and requires an explicit governance proposal and approval to be enabled.

***

### Rationale

Unitas believes that protocol revenue distribution should only be activated once the system reaches sufficient scale, stability, and adoption.

Enabling a fee switch prematurely may compromise protocol resilience and long-term sustainability.

***

### Activation Conditions

The activation of the fee switch will be proposed as **Unitas’ first governance proposal**, and may only be considered once all of the following conditions are met:

1. **Scale**
   * USDu supply surpasses **$1 billion**
2. **Revenue Maturity**
   * Protocol cumulative lifetime revenue exceeds **$100 million**
3. **Distribution Readiness**
   * USDu is integrated on at least **3 of the top 5 centralized exchanges**, measured by derivative trading volume

These conditions are objective, measurable, and publicly verifiable.

***

### Fee Distribution

If the fee switch is enabled:

* Protocol revenue may be distributed **quarterly**
* Distribution is made **pro-rata to sUP holders**
* Distribution parameters (percentage, cadence, scope) are governed by on-chain proposals

There is **no guaranteed yield**, fixed return, or obligation to distribute fees.

***

## Protocol Revenue

Protocol revenue may be generated from multiple sources, including but not limited to:

* Yield strategy fees
* Minting and redemption fees
* Payment and settlement fees
* Institutional and enterprise services

All protocol revenue will be transparently disclosed and used as the basis for governance decisions related to the fee switch.

***

## Tokenomics

* Total supply: 1B UP
* Circulating supply at TGE: 12.6%
* Allocation:
  * Ecosystem & Community: 45%
  * Liquidity & Exchange Programs: 18%
  * Investors: 22%
  * Team & Advisors: 15%
* Ecosystem & Community allocation supports:
  * Units based rewards distribution
  * Ecosystem expansion and integrations
* Liquidity & Exchange Programs allocation supports:
  * Exchange integrations
  * Market making
  * Liquidity provisioning

<figure><img src="/files/F4yYsuQpBG9nsuzXuqbj" alt="" width="563"><figcaption></figcaption></figure>

***

## Vesting

* Team & Advisors:
  * 12 month cliff
  * 24 month vesting duration
  * Linear unlock after cliff
* Investors:
  * 12 month cliff
  * 24 month vesting duration
  * Linear unlock after cliff
* Vesting aligns token distribution with:
  * Long-term protocol development
  * Governance participation

<figure><img src="/files/7TycsaXGW7JwXgUIDO4u" alt="" width="563"><figcaption></figcaption></figure>


# Tokenomics

<figure><img src="/files/fWESIIWvboLRFuwn8goJ" alt=""><figcaption></figcaption></figure>

### Allocation

#### Core Contributors

This portion of the UP allocation represents the distribution to the Unitas core contributors, including the founding team and advisors who have been responsible for building and operating the protocol.

All core contributor tokens are subject to a **1-year cliff**, followed by **linear monthly vesting over 3 years**.\
No core contributor tokens are unlocked prior to the completion of the 1-year cliff.

The vesting schedule is designed to align long-term incentives with sustained protocol development and execution.

***

#### Investors

The investor allocation represents token rights granted to investors who supported the early development and launch of the Unitas protocol.

All investor tokens are subject to a **1-year cliff**, followed by **linear monthly vesting over 2 years**.\
No investor tokens are unlocked prior to the completion of the 1-year cliff.

This structure ensures long-term alignment between investors and the growth of the Unitas network.

***

#### Foundation

The Foundation allocation will be used to support initiatives that expand the adoption and operational capacity of the Unitas protocol.

These tokens may be used for protocol development, security audits, risk management initiatives, infrastructure costs, and other activities that support the long-term sustainability of the Unitas ecosystem.

***

#### Ecosystem & Community

A significant portion of the UP supply is allocated to ecosystem and community development.

These tokens are intended to support user incentives, ecosystem growth initiatives, partnerships, integrations, and other programs designed to expand the Unitas network over time.

Ecosystem and community tokens are released progressively in accordance with the protocol’s distribution schedule to ensure alignment with long-term network growth.

***

#### Token Generation Event (TGE)

The Unitas Token Generation Event (TGE) is scheduled for **February 2026**.

Unlock schedules for **Core Contributors** and **Investors** commence from the TGE date and follow the vesting structures described above.


# XGLD

### Overview

XGLD is a yield-bearing gold asset issued by Unitas. It is backed by Tether Gold (XAUt), with yield generated through Unitas strategies and reflected through XGLD NAV growth over time.

XGLD expands the Unitas product suite beyond USDu into yield-bearing assets backed by real world collateral.

The asset is designed around 3 core components:

| Component         | Role                               |
| ----------------- | ---------------------------------- |
| XGLD              | Yield-bearing gold asset           |
| XAUt              | Underlying collateral backing XGLD |
| USDT              | Borrow asset and strategy capital  |
| Unitas strategies | Yield source                       |

XGLD uses XAUt as collateral, borrows USDT against it and deploys the borrowed USDT into Unitas strategies. Yield generated by those strategies is distributed to XGLD through NAV appreciation.

### Supported Chains

| Chain     | XGLD Support                  |
| --------- | ----------------------------- |
| BNB Chain | Native minting and redemption |
| Base      | LayerZero OFT                 |

XGLD is live on BNB Chain with native minting and redemption.

Base deployments use LayerZero OFT, powered by USDT0 and XAUt0.

<table><thead><tr><th width="87.2586669921875">Token</th><th width="67.724853515625">Chain</th><th width="476.364501953125">Address</th><th width="118.34716796875">Explorer</th></tr></thead><tbody><tr><td>XGLD</td><td>BSC</td><td>0xe60106a5cAb7e7C64830919d36Ab20CaAf50Ac91</td><td><a href="https://bscscan.com/token/0xe60106a5cAb7e7C64830919d36Ab20CaAf50Ac91">Link</a></td></tr><tr><td>XAUt</td><td>BSC</td><td>0x21cAef8A43163Eea865baeE23b9C2E327696A3bf</td><td><a href="https://bscscan.com/token/0x21cAef8A43163Eea865baeE23b9C2E327696A3bf">Link</a></td></tr><tr><td>XGLD</td><td>Base</td><td>0xeA953eA6634d55dAC6697C436B1e81A679Db5882</td><td><a href="https://basescan.org/token/0xeA953eA6634d55dAC6697C436B1e81A679Db5882">Link</a></td></tr></tbody></table>

### User Access

There are 2 primary ways to access XGLD:

| User Type         | Access                        |
| ----------------- | ----------------------------- |
| Whitelisted users | Mint and redeem XGLD directly |
| Regular users     | Swap USDT or XAUt for XGLD    |

Minting and redemption require whitelisting.

Regular users can access XGLD through secondary markets on supported networks.

### Minting Flow

Whitelisted users can mint XGLD on BNB Chain.

1. User deposits XAUt
2. Unitas mirrors the XAUt on a CEX via OES
3. Unitas posts XAUt as collateral and borrows USDT
4. User receives XGLD

<figure><img src="/files/hvfy5GR4nYtKYfsCsSW8" alt=""><figcaption></figcaption></figure>

### Yield Distribution

XGLD yield is generated by using XAUt as collateral and deploying the borrowed USDT into conservative strategies.

1. XAUt is held by the XGLD Fund Vault
2. XAUt is mirrored for CEX execution through OES
3. USDT is borrowed against XAUt through BYBIT Stake & Borrow
4. Borrowed USDT moves to the USDT Fund Vault
5. USDT is deployed into a basket of delta-neutral strategies
6. Strategy returns accrue to XGLD through NAV appreciation

OES coordinates the exchange execution flow. User funds are not deposited to centralized exchanges for strategy execution.

### Redemption Flow

Whitelisted users can redeem xGLD for XAUt.

1. User initiates redemption
2. Redemption enters a 7-day cooldown
3. Strategy exposure is reduced as needed
4. XAUt is released through the Redemption Contract
5. User claims XAUt after the cooldown

### Fees

| Action     | Fee  |
| ---------- | ---- |
| Minting    | 0%   |
| Redemption | 0.1% |

The redemption fee primarily covers transaction slippage and operational costs when Unitas adjusts positions and releases collateral.

### Risk Controls

xGLD uses conservative borrowing and active monitoring.

Key controls include:

* XAUt used as collateral
* USDT borrowed at conservative LTV
* Borrow positions monitored continuously
* Borrowed USDT deployed through Unitas strategies
* Positions repaid when required to reduce liquidation risk
* OES used for mirrored exchange execution
* Multisig controls for key actions
* Real-time monitoring by the Unitas trading team

OIn practice, xGLD prioritizes solvency, redemption capacity and controlled exposure. Strategy deployment only occurs within defined collateral limits and can be reduced as market conditions change.


# How to Buy USDu

USDu, the yield-bearing stablecoin issued by Unitas, can be acquired on the secondary market or minted directly through the Unitas protocol.

{% embed url="<https://www.youtube.com/watch?v=ClcqfHUHNuc>" %}

Via the [Unitas dApp](https://app.unitas.so/buy) interface, non-whitelisted users can seamlessly acquire USDu by exchanging other stablecoins (e.g. USDC, USDT) through integrated onchain liquidity sources.

#### Here's how it works:

* The user selects a stablecoin they wish to convert into USDu via the Unitas UI.
* This approach abstracts away the complexity of manual trading, allowing users to simply use stablecoins as input assets.
* The resulting onchain imbalances create arbitrage opportunities for whitelisted market makers, who can then proceed with the minting process.
* Minting USDu involves sending eligible backing assets to the Unitas protocol to receive newly issued USDu.
* Redeeming USDu involves burning USDu to withdraw the underlying backing assets.

Only whitelisted institutional participants can directly mint or redeem via the Unitas Mint Portal or API. Access to this functionality is gated and managed via allowlist controls to ensure system integrity and capital efficiency.


# How to Stake USDu

Staking USDu enables holders to receive the protocol's generated rewards

### Overview

Staking **USDu** lets you earn protocol fees sourced from Unitas’s multi‑strategy Δ‑neutral vaults. In return, you receive **sUSDu:** a liquid receipt token that auto‑accrues yield and can be used across DeFi.

{% embed url="<https://www.youtube.com/watch?v=79Qb_m_ORiA>" %}

## Step By Step Guide

#### 1) Connect Your Wallet

1. Visit <https://app.unitas.so/earn>
2. Click: **Connect Wallet**.
3. Choose your wallet (e.g. Phantom, Backpack, or other) and approve the connection.

#### 2) Enter Stake Amount

1. The dashboard shows your **USDu balance** and **current APY**.
2. Input how many USDu you’d like to stake, or click **MAX**.

#### 3) Review & Confirm

1. Check the **Estimated sUSDu** you’ll receive.
2. Gas fee displayed (≈ 0.0001 SOL).
3. Click **Stake** → approve the transaction in your wallet.

#### 4) Track Your Yield

*After confirmation (≈ 1–2 s):*

* Your **sUSDu balance** appears in the portfolio panel.
* Yield auto‑compounds hourly; balance increases without further action.

#### 5) Unstake / Redeem

1. Go back to the "Earn" page, switch to **Unstake** tab.
2. Choose sUSDu amount ➜ click **Unstake**.
3. **7‑day cooldown** starts; after it ends, click **Withdraw** to receive USDu.

> **Fast Exit:** For urgent liquidity, you can swap sUSDu → USDu on Jupiter (may incur slippage).


# How to Buy XGLD

XGLD, the yield-bearing gold issued by Unitas, can be acquired on the secondary market or minted directly through the Unitas protocol.

1. **Connect Wallet**

Go to the official [**XGLD dApp**](https://evm.unitas.so/xgld), click **"Connect Wallet,"** and choose **BSC** or **Base**, and then sign the confirmation in your wallet.

*Note: XGLD currently only supports these two networks; connecting to any unsupported network will hide your XGLD assets and features.*

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2. **Buy XGLD**

Click **"Buy XGLD"** on the homepage to enter the swap interface. Enter the amount of **XAUt** you wish to spend (or switch to other supported tokens), click **"Review swap"** to check the quote, and then click **"Start swapping"** to authorize and sign the transaction in your wallet.

*Note: This feature integrates the LI.FI router and requires an EIP-7702 Smart Account. If not yet activated, a prompt will guide you to set it up. Alternatively, you can click the bottom banner to trade directly on* [*PancakeSwap*](https://pancakeswap.finance/swap?chain=bsc\&outputCurrency=0xe60106a5cAb7e7C64830919d36Ab20CaAf50Ac91\&inputCurrency=0x21cAef8A43163Eea865baeE23b9C2E327696A3bf)*.*

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<figure><img src="/files/ksvxXSV3eQHc18rV586w" alt=""><figcaption></figcaption></figure>

3. **Check Portfolio & Earnings**

Return to the XGLD main page post-transaction to track your assets and earnings data in real-time:

* **Future 1-Year Yield**: Click to estimate expected yields over different future time horizons (based on current holdings and APY; for reference only).

<figure><img src="/files/jEs1sGrG2WBhN1s6Ek9D" alt=""><figcaption></figcaption></figure>

* **XGLD Holdings:** Current value of your XGLD holdings

<figure><img src="/files/fSAzBeZpfibNsdmdLnrw" alt=""><figcaption></figcaption></figure>

* **Earnings**: Displays the accrued, un-claimed book earnings from your current holdings.

<figure><img src="/files/9gvHeh1AEIaTiGuIZTUk" alt=""><figcaption></figcaption></figure>

* **Yesterday's**: Click to view cumulative realized earnings over different historical periods.

<figure><img src="/files/1yHIHAJqGsCpzcw7BWAi" alt=""><figcaption></figcaption></figure>

*Note: All displayed earnings are calculated based on XAUt standard and converted to USD value using XAUt's real-time market price. Consequently, your earnings value will fluctuate dynamically with XAUt market prices.*


# How to Bridge XGLD

If you hold XGLD on Base and wish to swap or redeem it for XAUt, please bridge your XGLD to the BSC network first.

1. **Access the Bridge**

Click Bridge XGLD on the XGLD dApp page, or go directly to the [Stargate Bridge](https://stargate.finance/?srcChain=base\&srcToken=0xeA953eA6634d55dAC6697C436B1e81A679Db5882\&dstChain=bsc\&dstToken=0xe60106a5cAb7e7C64830919d36Ab20CaAf50Ac91).

<figure><img src="/files/n8zRz8R1GXNPM0tz2Dxl" alt=""><figcaption></figcaption></figure>

2. **Connect Wallet**

Click Connect Solana Wallet. On the side panel, select the EVM network and connect your active EVM wallet.

<figure><img src="/files/wFnAZSOqboN9FSxIonol" alt=""><figcaption></figcaption></figure>

3. **Execute Transfer**

Enter the amount of $XGLD tokens you wish to bridge, then click Transfer. Confirm the transaction in your wallet and wait for it to be processed on-chain.

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4. **Verify Transaction**

Once complete, you will receive a pop-up notification, and the updated balance will be displayed below the Transfer module.

<figure><img src="/files/GxXFjjVWW3pdMmLW3CX6" alt=""><figcaption></figcaption></figure>


# Delta-Neutral Stability

### **1. What is Delta?**

Delta is a fundamental concept in financial derivatives, representing the rate of change of an option's price relative to the price of its underlying asset. For example, a delta of 0.5 means that if the underlying asset's price changes by $1, the option's price changes by $0.50. Delta is widely used in hedging strategies to manage risk effectively. Learn more about delta in this [Investopedia article](https://www.investopedia.com/terms/d/delta.asp).

***

### **2. Delta-Neutral Hedging in** USDu

USDu employs a basket of **delta-neutral strategies** to stabilize its collateral base and ensure peg stability. This means the protocol maintains a balance between the value of its collateral assets (e.g., SOL, ETH) and the futures positions held to hedge against price fluctuations. By offsetting potential gains or losses from underlying assets, delta-neutral hedging allows USDu to maintain a consistent 1:1 peg with 1 USD.

***

### **3. Why Delta-Neutral?**

1. **Removed market exposure**: by using hedging strategies, USDu ensures that collateral value remains stable even during market fluctuations.
2. **Capital Efficiency**: unlike traditional CDP stablecoins, USDu's basket of delta-neutral strategies reduces the amount of locked collateral, enabling scalability without sacrificing security.
3. **Scalability**: with access to both decentralized (DEX) and centralized (CEX) liquidity, USDu can scale into billions without dependence on traditional financial systems or real-world assets.

***

### **4. How it Works**

1. **Collateral Management**: USDu primarily uses SOL as collateral, along with BTC and ETH, to maintain a diverse asset base.
2. **Hedging Mechanism**: The protocol utilizes futures contracts on highly liquid platforms to neutralize price volatility of the collateral assets.
3. **Stability Enforcement**: Smart contracts monitor and adjust positions dynamically, ensuring consistent stability for USDu holders.

<br>


# Off Exchange Settlement

### Secured Asset Custody

Unitas employs **Off-Exchange Settlement (OES)** providers to safeguard collateral while accessing centralized exchange liquidity for hedging strategies.

Currently, Unitas works with two leading institutional custodians: [**Ceffu**](https://www.ceffu.com/) and [**Copper**](https://copper.co/).

* Both are independent, non-US based custodians focused exclusively on digital asset custody and settlement.
* Protocol assets are **never beneficially owned** or controlled by the OES providers; they remain fully attributable to Unitas users at all times.
* Assets are held in segregated accounts and only deployed via pre-approved trading instructions to support Unitas’ delta-neutral strategies.

***

### Risk Management

Unitas recognizes two primary risks when operating with OES providers:

#### 1. Accessibility and Availability

* Unitas depends on OES providers for timely **deposit, withdrawal, and delegation** of collateral to/from exchanges.
* Any degradation in this process may temporarily slow hedging or settlement workflows.
* Importantly, such issues **do not affect the collateral backing of USDu**, only the speed of mint/redeem operations.
* Unitas actively monitors OES availability and maintains redundant connectivity across both Ceffu and Copper to minimize impact.

#### 2. Settlement Performance in Exchange Failure

* In case of an exchange default, Unitas relies on OES providers to facilitate the transfer of collateral and settle PnL without delay.
* Leading custodians like Ceffu and Copper require exchanges to pre-post collateral with them, enabling efficient resolution under their rolling settlement cycles (typically 4–8 hours).
* By maintaining hedges across multiple exchanges, Unitas reduces dependency on any single venue.

***

### Additional Benefits

* **Liquidity Access**: OES providers allow Unitas to connect seamlessly with multiple CEX venues, ensuring deep orderbook liquidity without moving assets directly onto exchanges.
* **Operational Efficiency**: With OES, mint/redeem flows for USDu and sUSDu are **on-demand and cost-efficient**, avoiding unnecessary blockchain transactions or gas costs.
* **Counterparty Diversification**: Through custodians, Unitas can expand hedging access beyond centralized exchanges to OTC and institutional counterparties when needed, further mitigating risk.

***

### Why It Matters

OES is the backbone of Unitas’s yield-bearing stablecoin design:

* **USDu** stays fully collateralized off-exchange, ensuring user funds remain secure and transparent.
* **sUSDu** holders capture the yield generated by a basket of delta-neutral strategies (funding rate arbitrage + exchange fee flows), while custody and settlement risks are minimized through trusted partners.


# Overview

Backing, Custody, and Security Overview

### **Overview**

**Unitas** is dedicated to delivering a secure, transparent, and yield-bearing dollar stack. **USDu**, our core stablecoin, targets a robust 1 USD soft-peg through on-chain collateral plus a basket of delta-neutral strategies. Yield is streamed to **sUSDu**, the savings token, so users earn without leaving the peg.

***

### **Backing Mechanism**

| Component                    | Role in Stability                                                                                                        | Notes                                 |
| ---------------------------- | ------------------------------------------------------------------------------------------------------------------------ | ------------------------------------- |
| **Decentralised collateral** | SOL, ETH, WBTC and JLP (index of SOL/ETH/WBTC/USDC/USDT) are locked on-chain; over-collateralisation > 102 %.            | Verifiable 24/7 on Solana explorer.   |
| **Delta-neutral hedges**     | Short perpetual futures on top CEX venues neutralise price risk and harvest funding-rate carry.                          | Executed via Off-Exchange Settlement. |
| **Real-world utility**       | USDu is natively spendable with the upcoming **Unitas Card**, closing the loop between DeFi yield and everyday payments. | Settlement in fiat at POS.            |

***

### **Custody Model**

| Layer                             | Custody Approach                                                                                                                     | Transparency                                          |
| --------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------- |
| **On-chain vaults**               | Multisig-governed contracts hold collateral; addresses displayed live in Docs.                                                       | Everyone can self-verify balances.                    |
| **Off-Exchange Settlement (OES)** | Collateral mirrors held with **Copper**, **Ceffu**, etc., enabling hedging on CEXs while assets stay in segregated MPC cold storage. | OES balances included in monthly Transparency Report. |

Key principles: asset segregation, multi-provider redundancy, and hourly liquidity monitoring to ensure hedge capacity even in stressed markets.

***

### **Security Measures**

* **Smart-contract audits** — Multiple independent firms plus standing bug-bounty.
* **Redundant oracles** — Chainlink + Pyth feeds with fallback logic to guard against outages.
* **Real-time risk engine** — Bots track funding rates, collateral ratios, and margin health; automatic deleverage/top-up before thresholds.
* **Extreme-volatility design** — Circuit-breakers and insurance fund (10 % of fee flow) cover tail events.

***

### **Transparency & Reporting**

* **Monthly Transparency Report** (blog post) publishes:
  * Total collateral by asset & venue
  * Open perp hedge sizes & net delta
  * Insurance-fund and treasury balances
* **Live dashboard** shows multisig vault balances and key risk metrics.
* Road-map item: zk-attested proof-of-reserves once the ZK module is production-ready.

***

### **Why It Matters**

* **Peg robustness** — Over-collateralisation + delta-neutral hedging keeps USDu around 1 USD even in volatile markets.
* **Native yield** — Funding-rate and JLP fee carry flow through to sUSDu, turning “dollars” into an on-chain savings instrument.
* **Composability** — Fully on-chain design lets builders integrate USDu into lending, payments, and DeFi primitives.

Through these mechanisms, **Unitas** pairs advanced financial engineering with decentralised transparency, offering a secure, scalable, and user-centric dollar for the next generation of global payments and DeFi applications


# Off-Exchange Settlement (OES) in Unitas

Unitas uses Off-Exchange Settlement to combine on-chain transparency with the deep liquidity of top centralized exchanges (CEXs). By routing collateral through custodians such as **Copper** and **Ceffu**, the protocol can hedge USDu with delta-neutral shorts while keeping user assets in segregated cold storage.

***

### How OES Works

| Phase                        | What Happens                                                                                                                                                                         |
| ---------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |
| **1 Collateral Mapping**     | Onchain collateral: USDC, USDT, SOL, ETH, WBTC, etc; is deposited into Copper / Ceffu. The custodian credits a 1:1 balance inside its vault system; the coins remain offline.        |
| **2 Delta-Neutral Hedging**  | Using the mapped collateral, Unitas opens short perpetual futures positions on selected CEXs. The pair “long spot + short perp” neutralises price risk and earns funding-rate yield. |
| **3 Settlement & Liquidity** | Custodians batch-settle PnL and margin flows, while Unitas bots rebalance hedge sizes (≈ hourly) to keep net exposure near zero and ensure ample liquidity for USDu redemption.      |

***

### Advantages

1. **Access to Deep Liquidity** – CEX orderbooks support larger hedge sizes, letting USDu scale without DEX slippage limitations.
2. **Lower Counterparty Risk** – Assets stay in multilateral-MPC vaults; only signed instructions leave the custodian.
3. **Capital Efficiency** – Off-exchange margining reduces on-chain gas costs and idle collateral.
4. **Regulatory Alignment** – Copper, Ceffu and peers run under robust compliance regimes, easing institutional onboarding.

***

### Transparency & Security

* **Monthly Transparency Report** – A blog post and CSV break down OES balances, hedge sizes and Insurance Fund totals.
* **Real-time Multisig Dashboards** – Vault addresses are displayed in the [Docs](https://docs.unitas.so/mainnet-program-and-address-index) and on the [Transparency Dashboard](https://app.unitas.so/dashboard/transparency). Anyone can verify balances on Solana at any time.
* **Independent Audits & Bug Bounty** – All core contracts are audited and covered by a standing bounty.
* **Redundant Oracles & Risk Engine** – Chainlink + Pyth feeds with fallback logic; bots auto-deleverage or top-up margin before risk thresholds.
* **Real-time Proof of Solvency** - Unitas has launched a [PoS dashboard](https://accountable.unitas.so/) in collaboration with Accountable.
* **Third Party Reserves Reports**: Independent weekly USDu collateral reports by ht digital are visible on the [Transparency Dashboard](https://app.unitas.so/dashboard/transparency).

***

### Why It Matters

Off-Exchange Settlement lets **USDu** stay fully collateralised and liquid, while **sUSDu** holders capture JLP fee flow and positive funding rates, without leaving collateral on centralized exchange's hot wallets. By blending decentralized accounting with centralized liquidity, Unitas delivers a secure, scalable foundation for stable, yield-bearing dollars and global payments.


# Minting USDu

This section describes how USDu is minted, how collateral is utilized, and how assets move through the Unitas architecture once minting occurs.

<figure><img src="/files/j8dk0esg4ZUracehdjSq" alt="" width="563"><figcaption></figcaption></figure>

## Overview

USDu is a digital dollar issued by Unitas and backed by a delta-neutral strategy. The protocol separates user access from collateral operations to ensure orderly capital flows and risk management.

Most users do not mint USDu directly. Instead, they acquire USDu through secondary markets. Direct minting and redemption are restricted to whitelisted participants.

This design allows Unitas to control collateral inflow, hedging operations, and liquidity management without exposing users to operational complexity.

### Who Can Mint USDu <a href="#h-who-can-mint-usdu" id="h-who-can-mint-usdu"></a>

Only whitelisted addresses are permitted to mint or redeem USDu. These participants typically include liquidity managers, protocol controlled accounts, or partners responsible for maintaining market depth.

Regular users acquire USDu through swaps on supported liquidity venues, including the Unitas application and decentralized exchanges.

Minting occurs in two scenarios:

* When secondary market liquidity is insufficient to support demand
* When a whitelisted participant deposits capital directly into the protocol to avoid slippage

In both cases, minting adds new USDu into circulation while ensuring that corresponding collateral enters the asset flow.

### Adding Collateral <a href="#h-adding-collateral" id="h-adding-collateral"></a>

When a whitelisted participant mints USDu, they deposit USDC into the protocol. This USDC becomes the backing for newly issued USDu and is routed through the Unitas asset flow.

From this point forward, the protocol manages allocation, custody, hedging, and yield generation automatically.

### Mint Asset Flow <a href="#h-asset-flow-after-minting" id="h-asset-flow-after-minting"></a>

Once USDC enters the system, it is processed through two coordinated paths designed to generate yield while maintaining delta neutrality.

#### **1. Strategy Deployment**

Deposited USDC is allocated across a basket of delta-neutral strategies.

A portion of capital is deployed into liquidity provisioning positions such as JLP, which act as collateral and generate revenue from trading activity.

Other allocations may include positions designed to capture funding rates and additional yield sources across supported integrations.

Collateral assets generate revenue from:

* Trading fees
* Trader PnL
* Funding payments
* Liquidations

Revenue from all strategies is aggregated and contributes to protocol yield distributed to sUSDu.

#### **2. Hedging and Custody**

Capital allocated to hedging is routed to [institutional custody](https://docs.unitas.so/off-exchange-settlement) through Ceffu.

Funds remain segregated and are mirrored to the protocol’s Binance sub-account via [MirrorX](https://www.ceffu.com/solutions/mirrorx).

This capital is used as margin for short perpetual positions that offset the price exposure of underlying collateral assets. Hedge size is determined by the exposure of each strategy and adjusted continuously to maintain alignment. Margin levels and exposure are monitored in real time.

#### **3. Resulting Position**

After deployment and hedging, the protocol holds:

* Collateral positions across multiple strategies
* Hedge margin in segregated institutional custody
* Short perpetual positions offsetting asset exposure

All of the onchain multising addresses can be found on the [transparency dashboard](https://app.unitas.so/dashboard/transparency).

### Yield Routing <a href="#h-yield-routing" id="h-yield-routing"></a>

Revenue generated by the strategy flows into the protocol and is distributed according to system rules. Majority of the revenue (80%) is deposited into the staking contract, increasing the value of sUSDu overtime.

An additional portion (20%) is allocated to the protocol treasury along with an insurance fund, which acts as a buffer during periods of negative funding rates or in case the strategy incurs losses.

### Liquidity Management <a href="#h-liquidity-management" id="h-liquidity-management"></a>

Unitas actively monitors USDu liquidity across supported markets. If imbalances occur, the protocol can mint or redeem USDu through whitelisted accounts to restore depth and ensure smooth user access.

This mechanism allows USDu to maintain reliable market liquidity without exposing users to redemption risk or operational delays.

### Summary <a href="#h-summary" id="h-summary"></a>

Minting USDu is a controlled process that prioritizes solvency, transparency and risk management.

Whitelisted participants deposit collateral into the protocol. The protocol allocates that collateral across yield-generating and hedging strategies, maintains institutional-grade custody and routes revenue to sUSDu holders.


# Staking USDu

This section explains how staking USDu works, how sUSDu accrues value, and how rewards are distributed.

### Overview

sUSDu is the staked version of USDu. Its value increases overtime as yield is earned and deposited into the staking contract.

Staking is the mechanism through which users access the yield generated from the strategies performed by Unitas. Users deposit USDu into the staking contract and receive newly-minted sUSDu, which represents a proportional claim on the yield produced by the protocol’s market-neutral operations.

Overtime, Unitas compounds yield directly into the staking pool. As revenue is added, the amount of USDu backing each unit of sUSDu increases. Users realize yield through appreciation in the sUSDu's exchange rate, relative to USDu.

Staking is optional. Users who hold USDu without staking do not receive yield.

### Staking Workflow

#### **1. Staking USDu**

Users stake USDu by depositing it into the staking contract.

Upon deposit:

* USDu is locked in the staking contract
* sUSDu is minted and transferred to the user
* The user’s sUSDu balance represents their share of the staking pool

The total supply of sUSDu and the total USDu held by the staking contract are tracked continuously.

#### **2. Earning Yield**

Yield generated by the protocol's strategies is periodically transferred into the staking contract in the form of USDu.

Sources of yield include:

* Revenue from trading activity across liquidity provisioning strategies, including positions such as JLP hedging
* Funding rate payments associated with hedged positions
* Revenue from additional delta-neutral strategies deployed across supported integrations

When revenue is deposited:

* The USDu balance of the staking contract increases
* The sUSDu to USDu exchange rate increases
* No new sUSDu is minted during reward distribution

This mechanism ensures that all stakers benefit proportionally from the protocol's revenue.

#### **3. Unstaking USDu**

To exit staking, users burn their sUSDu and initiate an unstaking request.

The unstaking process includes a cooldown period:

* sUSDu is burned at the current exchange rate
* The corresponding amount of USDu is placed into a dedicated withdrawal contract
* A 7-day cooldown applies before withdrawal is available

After the cooldown period, users can withdraw their USDu from the withdrawal contract.

During the cooldown, the user's USDu is no longer earning yield.

### Key Components

#### **1. Staking Contract**

The staking contract manages:

* USDu deposits
* sUSDu minting and burning
* Exchange rate accounting
* Reward accumulation

It enforces the rules governing staking, unstaking and reward distribution.

#### **2. Reward Distribution**

All staking rewards are paid in USDu.

Rewards are deposited directly into the staking contract. This increases the total USDu backing sUSDu and causes sUSDu’s value to rise over time.

This design avoids emissions, variable payout schedules or manual reward claims.

#### 3. Risk and Design Considerations

The staking system is designed to provide predictable behavior under all market conditions.

Key properties include:

* Rewards are additive and do not reduce principal
* Users cannot owe funds to the protocol through staking
* Yield accrues only when the underlying strategy produces revenue
* The cooldown period helps manage liquidity and system stability

### FAQ

| Question                                       | Answer                                                                                                                              |
| ---------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------- |
| Do I need to stake USDu to earn yield?         | Yes. Yield accrues only to users who stake USDu and hold sUSDu.                                                                     |
| Why is there a cooldown period for unstaking?  | The 7-day cooldown allows the protocol to manage liquidity and unwind positions without disrupting system stability.                |
| Where is my USDu during the cooldown?          | After unstaking is requested, USDu is placed in a dedicated withdrawal contract until the cooldown period ends.                     |
| Can I sell sUSDu before the cooldown finishes? | sUSDu may be transferable if secondary markets exist, but Unitas does not guarantee liquidity for sUSDu outside the staking system. |
| Can staking result in a negative balance?      | No. Staking rewards are additive, and users cannot owe funds to the protocol.                                                       |
| What asset are rewards paid in?                | All rewards are paid in USDu and compounded into the staking contract.                                                              |

<br>


# Mainnet Program & Address Index

#### 🛠️ Core Programs

| Program          | Address                                        |
| ---------------- | ---------------------------------------------- |
| Guardian Program | `GRAD6oot2mhagh3UmoqCmLkiW3G2cFS5bh9x6VbYEZxW` |
| USDu Program     | `USDuuELLS5piwJ7vmMoKByqxaguyZov7CxKQHYRBvo5`  |
| sUSDu Program    | `SUSD2TSk8DJodCkPviKb2okzbeQ597kCBjLVjq3G7pp`  |
| Vault Program    | `VALT7AM76ZWfRhjVeYQRrLvNRLvqBzNs8dTsAcLW3jj`  |
| Token Program    | `TokenkegQfeZyiNwAJbNbGKPFXCWuBvf9Ss623VQ5DA`  |

***

#### 💵 USDu Configuration

<table><thead><tr><th>Component</th><th width="448.90625">Address</th></tr></thead><tbody><tr><td>USDu Config</td><td><code>om3x6puF7Beqxc1WYPCYBWwUZMZ77hYk7AsMEbi8Fez</code></td></tr><tr><td>USDu Token Mint</td><td><a href="https://solscan.io/token/9ckR7pPPvyPadACDTzLwK2ZAEeUJ3qGSnzPs8bVaHrSy"><code>9ckR7pPPvyPadACDTzLwK2ZAEeUJ3qGSnzPs8bVaHrSy</code></a></td></tr></tbody></table>

***

#### 🔒 sUSDu Configuration

<table><thead><tr><th width="240.3125">Component</th><th>Address</th></tr></thead><tbody><tr><td>sUSDu Config</td><td><code>DyiptL8AUJjxqphpkWAcVbFrA53EawpyaJ1VzDi8YoLc</code></td></tr><tr><td>sUSDu Token Mint</td><td><a href="https://solscan.io/token/9iq5Q33RSiz1WcupHAQKbHBZkpn92UxBG2HfPWAZhMCa"><code>9iq5Q33RSiz1WcupHAQKbHBZkpn92UxBG2HfPWAZhMCa</code></a></td></tr><tr><td></td><td></td></tr></tbody></table>

***

#### 🏦 Vault Configuration

| Component                           | Address                                        |
| ----------------------------------- | ---------------------------------------------- |
| Vault Config                        | `ENcCimzGPU6dNih1qnsSShTYBu9rRERnF4Wwx7BVVt7h` |
| Vault State                         | `Fx6AsfJ5GGzUyYgNAaGehG1PSQTG1e7qNwSCJ8vXJ9SX` |
| Vault USDu Token Account            | `EVEzWZKQHRjsaE9LohshP6fDtizij6WSRYHWBFf9hiqz` |
| Vault sUSDu Token Account           | `7ngbTXfv6ey9N6AprMSjJ4X8ifZepWo7fXsrpsUhK3NS` |
| Vault Stake Pool USDu Token Account | `CFgrWjb9DYKVqf7QyQfmwjboDDkXpFHQ6292rnYxrjsa` |
| Vault Storage USDu Token Account    | `xyLZUzaaFdn9tuoBAM7qLNEh5HFkTyjXFoSqoC4WBwb`  |

***

#### 💼 Fund & Custody

| Component      | Address                                        |
| -------------- | ---------------------------------------------- |
| Fund Custodian | `CbweCuhzGXjYXhNGLXKCLpVuJTgDFptpVTRafWL1JeEq` |

***

#### 💰 Collateral Operations

| Component             | Address                                        |
| --------------------- | ---------------------------------------------- |
| Collateral Depositor  | `GsL9xwpJ3Le2Yt2VcYhzZCMBdC4EWAiF1C6XsNTfqC4U` |
| Collateral Withdrawer | `AV4gM8KBkB1JfHZVu5Ya9Xy1UULBG3xqmTnTT6u7qkKA` |

### **MultiSign Address List**

*(strategy code-names removed for public sharing)*

<table><thead><tr><th>Purpose</th><th width="292.3515625">Address</th><th>Notes</th></tr></thead><tbody><tr><td><strong>Deposit Address ①</strong></td><td><code>4EdDmLUwbt1EjvAuMeAcWZgsX9ws4fPgAdZN4zcU3id4</code></td><td>Primary deposit wallet (strategy A)</td></tr><tr><td><strong>Deposit Address ②</strong></td><td><code>4ErgvxsdJJyZagNU62kJjKJoo7dBzWSWZwqPNmuHsCqW</code></td><td>Secondary deposit wallet (strategy B)</td></tr><tr><td><strong>Vault A (multisig)</strong></td><td><code>AR2ZCCyB5nXb7TesCz2pcCWbQsH8TAwixetDRrm3Z9wr</code></td><td>Multisig vault holding strategy A JLP</td></tr><tr><td><strong>Vault B (multisig)</strong></td><td><code>8Qo4oKTM5jiZEAKzhBLKwTKjCJrDHsUUux5K5DaQDxLR</code></td><td>Multisig vault holding strategy B JLP</td></tr><tr><td>Vault C (multisig)</td><td><code>5ZbLoA6DSnXoDeU7jsdmmkua4X1ugHUFYzbByzrbJDST</code></td><td>Multisig vault holding strategy C JLP</td></tr><tr><td>Vault D(multisig)</td><td><code>3KGc9HPrLEsxsJ1d4kWCz5GcDykygjsRQtUUfLa7p5T1</code></td><td>Multisig vault holding strategy D JLP</td></tr><tr><td>Vault E(multisig)</td><td><code>GdzTHK2Uxya7JogM5r9poEMA3HFcgTZmiMLC6Agqx8c</code></td><td>Multisig vault holding strategy E JLP</td></tr><tr><td>Vault F(multisig)</td><td><code>6REMwMUhkh9PLNGxRUsue49otacp76pAWAU3C7itQ4AP</code></td><td>Multisig vault holding strategy F JLP</td></tr><tr><td>Vault G(multisig)</td><td><code>2FxcFypgGwKDjeH1veV671DQw7CJQT4h7wgHtCAxKV3M</code></td><td>Multisig vault holding strategy G JLP</td></tr><tr><td><strong>Fund Vault (multisig)</strong></td><td><code>EjwCRUh3HhBaR7vaTrFzuNpDAnTX9h3ddZuiQgKqCadz</code></td><td>Mint/Redeem assets reside here</td></tr><tr><td><strong>Guardian Admin</strong></td><td><code>HZQdNWYBv23A3cfCAWDm4BQJ7XVARtDGJKhezmwvzfxo</code></td><td>Role-assignment / revoke multisig</td></tr><tr><td><strong>Emergency Vault Admin</strong></td><td><code>2QfKMyrkFNACCmPw1EHCAxcH7MHvsChuR9MduWk6TfD6</code></td><td>Super-admin for incident recovery</td></tr><tr><td><strong>Collateral Ops (Mint/Redeem executor)</strong></td><td><code>USDUY49DCh6wAHvx5jZn1xHSyDc8fvMa7YBnFi1aYEy</code></td><td>Executes collateral in/out flows</td></tr><tr><td><strong>Reward Distributor</strong></td><td><code>USDUY49DCh6wAHvx5jZn1xHSyDc8fvMa7YBnFi1aYEy</code></td><td>Auto-distribution of yield to holders</td></tr><tr><td><strong>Reserve Fund</strong></td><td><code>DLzMXMSZLW8QEx563QBZNca8Gg6NrHGJZdJJ3Y4rcKEe</code></td><td>Insurance vault for emergency payouts</td></tr><tr><td><strong>Dev Admin</strong></td><td><code>3fKaQf2uLSped6HUEPQkQtTpPo1xnhZRsmfW7htFBBuQ</code></td><td>Developer-level maintenance multisig</td></tr></tbody></table>

> Strategy identifiers (e.g., “A/B”) are placeholders only; internal codenames have been removed for confidentiality.


# Get sUSDu LP on Pendle (BSC)

Task Link: https\://app.pendle.finance/trade/pools/0x3b5f4ac56dab45f43dbad9b41c6a57f0f85fbb4c/zap/in?chain=bnbchain

1. Click **Connect Wallet** and ensure you are using a **BSC (BNB Chain)** compatible wallet.

<figure><img src="/files/Stqhp1VGOh31HWfy4egD" alt=""><figcaption></figcaption></figure>

2. Check the box to agree to the Terms of Service and Privacy Policy.

<figure><img src="/files/19hcRblHf36TvQ2vetl4" alt=""><figcaption></figcaption></figure>

3. Choose your preferred BSC wallet from the list.

<figure><img src="/files/34tHBK1YYOjbs63zEoOG" alt=""><figcaption></figcaption></figure>

4. Under the **Zap-Deposit** tab, enter the amount of **sUSDu** you wish to deposit.

<figure><img src="/files/yGai8enfLAZTFTPFGHK6" alt=""><figcaption></figcaption></figure>

5. If the button displays **Switch to BNB Chain**, click it to update your wallet network.

<figure><img src="/files/KMmHbPthYnVmVRv82jsu" alt=""><figcaption></figcaption></figure>

6. Click **Approve sUSDu** to authorize the protocol to use your funds.

<figure><img src="/files/ba98kzvCUE9KpddpxI5v" alt=""><figcaption></figcaption></figure>

7. Once approved, click **Zap In** to complete the transaction.

<figure><img src="/files/51a2mLNn90RoWoH1w1AR" alt=""><figcaption></figcaption></figure>

8. A success banner will appear once your **sUSDu LP** has been successfully added. Your points earned during the holding period will update the following day.

<figure><img src="/files/wU2AzmRg62bkmYCymQkS" alt=""><figcaption></figcaption></figure>

9. To retrieve your assets, select **Zap-Withdraw**, check **LP sUSDu (USDu)**, and follow the prompts to **Approve** and **Withdraw**.

<figure><img src="/files/8Q3ogn3Sj2Ry1uOQlHtp" alt=""><figcaption></figcaption></figure>


# Get sUSDu YT on Pendle (BSC)

Task Link: https\://app.pendle.finance/trade/markets/0x3b5f4ac56dab45f43dbad9b41c6a57f0f85fbb4c/swap?view=yt\&chain=bnbchain

1. Under the **YT-Swap-Buy YT** tab, enter the amount of **sUSDu** you wish to spend.

<figure><img src="/files/gjjhpaewzNy2ZD24Kdil" alt=""><figcaption></figcaption></figure>

2. Click **Approve sUSDu** to authorize the protocol to use your funds.

<figure><img src="/files/Pc5dJ85BcQT0RY3vkgjM" alt=""><figcaption></figcaption></figure>

3. Once approved, click **Swap** to complete the transaction.

<figure><img src="/files/kYR8nsicDfwej5lYxjcn" alt=""><figcaption></figcaption></figure>

4. Once the success banner appears, your **sUSDu YT** purchase is complete. Your points earned during the holding period will update the following day.

<figure><img src="/files/WHUvCwsomqUj6kKMvhZT" alt=""><figcaption></figcaption></figure>

5. To swap back to sUSDu, go to the **YT-Swap-Sell YT** tab on the same page, enter the amount of **YT sUSDu (USDu)**, and follow the prompts to **Approve** and **Swap**.

<figure><img src="/files/z45onaEt2HssZSJ9E43t" alt=""><figcaption></figcaption></figure>


# Get USDu-USDT LP on PancakeSwap (BSC)

Task Link: https\://pancakeswap.finance/liquidity/pool/bsc/0x8AAB5522d601BBB85501d703B55a272E47852120

1. Click **Add Liquidity** to enter the setup page.

<figure><img src="/files/X4LM0j3dgTICzmuRjDHL" alt=""><figcaption></figcaption></figure>

2. Click **Connect Wallet** and ensure you are using a **BSC (BNB Chain)** compatible wallet.

<figure><img src="/files/zuPMhxF65VOKEXstbZpf" alt=""><figcaption></figcaption></figure>

3. Choose your preferred BSC wallet from the list and connect to the EVM chain.

<figure><img src="/files/5c6TSnyPD2DlvBvlGBKv" alt=""><figcaption></figcaption></figure>

4. Enter the amount of **USDT** and **USDu** you wish to deposit.

<figure><img src="/files/Xs4ybr0xDAl8vcFK5FD4" alt=""><figcaption></figcaption></figure>

5. Adjust the price range to your preference, then **Approve** both **USDT** and **USDu**.

**Note:** To ensure liquidity efficiency and qualify for points, the price range must be set between **0.9998～1.0001** of the current market price.

<figure><img src="/files/WM4TQZkRTe9XpCNgNulp" alt=""><figcaption></figcaption></figure>

6. Once approved, click **Add** to review the transaction details.

<figure><img src="/files/t8KjwdlL6GMhjQV9zOMe" alt=""><figcaption></figcaption></figure>

7. Click **Add** to finalize the transaction.

<figure><img src="/files/RHMTuY0AsJ3uo4wiCjgA" alt=""><figcaption></figcaption></figure>

8. A success window will appear once your **USDT-USDu LP** is successfully added. Points earned during the holding period will update the following day.

<figure><img src="/files/4W6xATk72F2TuKpAiuvl" alt=""><figcaption></figcaption></figure>

8. Click **Pool Detail** to return to the previous page.

<figure><img src="/files/A7jeQvlhgzuZsk5mkzcP" alt=""><figcaption></figcaption></figure>

10. You can view your liquidity positions at the bottom of the page. To remove liquidity, simply click the minus (-) icon when needed.

<figure><img src="/files/HCN9vE47fram3mtj4qJy" alt=""><figcaption></figcaption></figure>


# Terms of Service

*Last Updated: 8 June 2025*

Welcome to **Unitas**, the stablecoin module operated by **Unipay Pte. Ltd.** (the “**Company**,” “**Unipay**,” “**we**,” “**our**,” or “**us**”). These Terms of Service (the “**Terms**”) govern your access to and use of our websites, dashboards, APIs, documentation, and the associated smart‑contract systems that issue and manage the **USDu** and **sUSDu** digital tokens (collectively, the “**Services**”). By accessing or using any part of the Services, you agree to be bound by these Terms. If you do not agree, do not use the Services.

> **Key Token Definitions**
>
> * **USDu** — a crypto‑native, dollar‑referenced stablecoin minted and redeemed via the Unitas smart contracts.
> * **sUSDu** — a staked version of USDu that accrues proportional protocol yield; 1 sUSDu automatically redeems to a growing amount of USDu over time.

***

### 1. Eligibility and Compliance

1.1 **Age & Capacity.** You must be at least 18 years old and have legal capacity to enter into a binding agreement.

1.2 **Jurisdictional Restrictions.** The Services are not offered to any person located in, or resident or citizen of, a jurisdiction where such access or use is prohibited by applicable law (including, without limitation, residents or citizens of Cuba, Iran, North Korea, Syria, Crimea, the U.S. state of New York, or any other embargoed/sanctioned jurisdiction).

1.3 **KYC/AML.** We may, at any time, require identity verification, sanctions screening, or source‑of‑funds checks. Failure to provide satisfactory information may result in refusal, suspension, or termination of access.

***

### 2. The USDu & sUSDu Tokens

2.1 **Smart Contracts.** USDu and sUSDu are issued, staked, and redeemed solely via open‑source smart contracts deployed by Unipay on supported blockchains (currently Solana, with planned support for Ethereum and BNB Chain). Unipay cannot unilaterally modify user balances.

2.2 **Minting USDu.** Subject to eligibility checks, users may deposit approved collateral assets through the mint function of the smart contract, receiving an equivalent amount of USDu minus any applicable fees.

2.3 **Staking to sUSDu.** Users may convert USDu to sUSDu via the stake function. The exchange rate **USDu ↔ sUSDu** increases as the protocol distributes yield to the sUSDu pool.

2.4 **Redeeming.**

* **Unstake:** Burn sUSDu to receive USDu at the current exchange rate.
* **Redeem:** Burn USDu to withdraw the pro‑rata share of underlying collateral, subject to protocol rules and throttles.

2.5 **No Guarantee of Peg or Yield.** While Unipay employs delta‑neutral hedging and other risk‑mitigation strategies, we do **not** guarantee that USDu will maintain a 1 USD value or that yield on sUSDu will be positive. You assume all market, smart‑contract, and regulatory risks.

***

### 3. Your Responsibilities

3.1 **Self‑Custody.** You are solely responsible for safeguarding the private keys, seed phrases, or other credentials that grant access to your tokens. Loss of credentials may result in irreversible loss of USDu/sUSDu.

3.2 **Taxes.** You are responsible for all tax obligations arising from your transactions with USDu and sUSDu.

3.3 **Prohibited Conduct.** You agree **not** to:

* Violate any applicable law, regulation, or sanctions program;
* Engage in market manipulation, wash trading, or fraudulent activity;
* Use the Services to transmit proceeds of crime or illicit funds;
* Interfere with, disrupt, or attempt unauthorized access to the Services.

***

### 4. Fees and Costs

4.1 **Protocol Fees.** Interactions may incur mint/redeem fees, staking performance fees, or withdrawal penalties as displayed in the UI before confirmation.

4.2 **Network Costs.** You are responsible for blockchain transaction fees (gas) and any third‑party costs.

***

### 5. Suspension & Termination

We may suspend or terminate your access to all or part of the Services, or freeze, burn, or otherwise restrict USDu/sUSDu under your control, without prior notice if we reasonably believe you have violated these Terms or applicable law.

***

### 6. Intellectual Property

Except for OSS components licensed under their respective open‑source licenses, all content, trademarks, and proprietary technology underlying the Services belong to Unipay or its licensors. You may not copy, modify, or distribute such materials without prior written consent.

***

### 7. Disclaimers

**THE SERVICES ARE PROVIDED “AS IS” AND “AS AVAILABLE,” WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED.** To the maximum extent permitted by law, Unipay disclaims all implied warranties of merchantability, fitness for a particular purpose, and non‑infringement. Unipay does not warrant that the Services will be uninterrupted, error‑free, or secure, or that any smart contract is free of vulnerabilities.

***

### 8. Limitation of Liability

To the maximum extent permitted by law, Unipay and its affiliates shall **not** be liable for any indirect, incidental, special, consequential, or punitive damages, or for any loss of profits, data, or goodwill, arising out of or related to the Services or these Terms. Aggregate liability shall not exceed (a) USD 100 **or** (b) the total fees paid by you to Unipay in the 12 months preceding the event giving rise to the claim, whichever is greater.

***

### 9. Indemnification

You agree to indemnify, defend, and hold harmless Unipay and its affiliates from and against any claims, losses, damages, liabilities, and expenses (including reasonable attorneys’ fees) arising from your use of the Services or violation of these Terms.

***

### 10. Governing Law & Dispute Resolution

10.1 **Governing Law.** These Terms shall be governed by, and construed in accordance with, the laws of **Singapore**, without regard to its conflict‑of‑laws principles.

10.2 **Informal Resolution.** Before initiating arbitration, you and Unipay agree to first attempt in good faith to resolve any dispute within 30 days after written notice.

10.3 **Arbitration.** Any dispute, controversy, or claim arising out of or relating to these Terms or the Services that cannot be resolved informally shall be **finally settled by arbitration** under the **Singapore International Arbitration Centre (SIAC) Rules**. The tribunal shall consist of **one arbitrator** appointed in accordance with the SIAC Rules. The seat of arbitration shall be Singapore and the language shall be English.

10.4 **Class Action Waiver.** All proceedings shall be conducted on an individual basis. You waiver any right to participate in a class or representative action.

10.5 **Exceptions.** Either party may seek injunctive relief or refer disputes that fall within the jurisdiction of a small‑claims court to such court.

***

### 11. Updates to These Terms

We may modify these Terms at any time. The updated Terms will become effective when posted on our documentation site or otherwise communicated to you. Your continued use of the Services after such posting constitutes acceptance of the revised Terms.

***

### 12. Contact

Questions? Email **<legal@unipay.fi>**.


# Privacy Policy

### Overview

This Privacy Policy explains how **Unipay Pte. Ltd.** ("**Unipay**," "**we,**" "**our,**" or "**us**") collects, uses, discloses, and protects information when you access or use our websites, dashboards, APIs, smart‑contract interfaces, documentation, or any other online product or service linked to this policy (collectively, the **"Services"**).

> **Key Tokens**
>
> * **USDu** — dollar‑referenced stablecoin issued via the Unitas smart contracts.
> * **sUSDu** — staked yield‑bearing derivative of USDu.

***

#### 1. Scope

This policy applies to Personal Data processed by Unipay when you:

1. Visit our sites or social media pages;
2. Access dashboards, developer portals, or APIs;
3. Mint, stake, redeem, or otherwise interact with USDu and sUSDu via our UIs;
4. Join community calls, events, or surveys;
5. Contact us directly.

It **does not** apply to third‑party wallets, dApps, or websites that integrate with Unitas.

#### 2. Information We Collect

| Category                     | Examples                                                                 | Purpose                                            |
| ---------------------------- | ------------------------------------------------------------------------ | -------------------------------------------------- |
| Wallet Data                  | Public blockchain address, on‑chain transactions                         | Core functionality, analytics, fraud detection     |
| KYC/AML Data (when required) | Name, DOB, nationality, government ID, proof of address, source‑of‑funds | Regulatory compliance                              |
| Contact Data                 | Email address, social‑media handle                                       | Support, service notices, marketing (with consent) |
| Usage Data                   | IP, browser, device ID, pages visited, cookies                           | Site analytics, performance, security              |
| Communications               | Support tickets, survey responses                                        | Customer service, product improvement              |

#### 3. How We Use Data

* Operate and maintain the Services;
* Comply with legal obligations (KYC/AML, sanctions, tax);
* Protect security and integrity, prevent fraud;
* Communicate with you (support, updates, technical notices);
* Improve and develop new features;
* Market our Services with appropriate consent.

#### 4. Legal Bases (GDPR‑style)

* Contractual necessity
* Legal obligation
* Legitimate interests (not overridden by your rights)
* Consent (for optional marketing)

#### 5. Sharing & Disclosure

We **do not sell** Personal Data. We share only:

1. With vetted service providers (cloud, KYC vendors, analytics);
2. Within the Unipay corporate group;
3. To comply with law or valid legal requests;
4. In a merger, acquisition, or asset sale (subject to confidentiality);
5. With your consent or at your direction.

#### 6. International Transfers

Data may be transferred to jurisdictions such as Singapore, the United States, or others where our providers operate, protected by lawful transfer mechanisms (e.g., SCCs).

#### 7. Security

We employ encryption in transit, access controls, routine audits, and vendor due diligence. No system is 100 % secure.

#### 8. Retention

Personal Data is kept only as long as necessary, including to meet legal and accounting requirements (e.g., AML laws may mandate 5‑10 years).

#### 9. Your Rights

Depending on your jurisdiction, you may request access, correction, deletion, restriction, portability, or object to certain processing. Withdraw consent anytime. Email us to exercise rights.

#### 10. Children

Services are not directed to minors under 18. We do not knowingly collect data from children.

#### 11. Changes

We may update this policy. Material changes will be posted here. Continued use after the effective date constitutes acceptance.

#### 12. Contact

**Email: <legal@unipay.fi>**


# Audits

### Overview

Security and transparency are core priorities for Unitas. The protocol undergoes independent security reviews to assess contract correctness, risk exposure, and adherence to best practices across supported execution environments.

Unitas does not treat audits as a one-time requirement. Reviews are part of an ongoing process to validate critical logic, minimize attack surfaces, and ensure that contract behavior aligns with documented design assumptions.

### Completed Audits

Unitas contracts have undergone independent audits across both SVM and EVM environments.

#### **SVM Contracts**

1. **Scalebit:**&#x20;

{% file src="/files/waAyqqWUfWf1ZUf2CmrK" %}

2. **Oaksecurity:**&#x20;

{% file src="/files/kXTnpPI9f3bUrsS0b1z6" %}

#### **EVM Contracts**

1. **Scalebit:**

{% file src="/files/ebfYZLySPjk6B4zwiiBC" %}

2. **Slowmist:**

{% file src="/files/4rhAxNz9krFa7CR273xv" %}

Each audit evaluated the relevant contract set deployed on its respective execution environment.

### Transparency and Review Process

Audit reports are published to provide visibility into the review process and identified findings. Where applicable, remediation steps and design adjustments were implemented before mainnet deployment.

Audits complement Unitas’ broader transparency framework, which includes real-time solvency verification, visible collateral flows, and third-party reserve attestations. Together, these measures support a protocol design that prioritizes verifiability, accountability, and operational security.


# Brand

### <https://github.com/UnipayFI/Brandkits>


# FAQ

#### 1. How can I acquire USDu if I am not whitelisted to mint?

Most users acquire USDu through DEX liquidity pools. USDu is available via swaps on the Unitas application and supported decentralized exchanges such as Orca. Direct minting and redemption are restricted to whitelisted participants.

***

#### 2. What is the difference between holding USDu and staking it into sUSDu?

USDu is the base stable asset. Holding USDu provides price stability but does not earn yield.\
sUSDu is the staked version of USDu. Users who stake USDu receive sUSDu, which accrues value over time as yield is earned and deposited into the staking contract.

***

#### 3. How does sUSDu generate yield?

sUSDu earns yield from the revenue generated by the USDu strategy. This includes trading fees and funding rate payments associated with a basket of delta-neutral strategies involving the JLP position. Yield is deposited into the staking contract in the form of newly minted USDu, increasing the value of sUSDu over time.

***

#### 4. How is USDu kept stable while still earning yield?

USDu is backed by a delta-neutral position. JLP provides fee-based revenue, while short perpetual positions offset the price exposure of the underlying assets. This removes directional risk while allowing the protocol to capture trading-driven revenue.

***

#### 5. Can I redeem USDu directly with the protocol?

Only whitelisted addresses can mint or redeem USDu directly with the protocol. Regular users enter and exit USDu through swaps on supported liquidity pools.

***

<br>

#### 6. What happens to my USDu when I stake it into sUSDu?

When you stake USDu, it is deposited into the staking contract and sUSDu is minted to your address. Your USDu becomes part of the staking pool and begins accruing yield. The value of sUSDu increases as revenue is added to the pool.

***

#### 7. How do I unstake sUSDu, and is there a cooldown?

To unstake, users burn sUSDu and initiate a withdrawal request. A 7-day cooldown applies before USDu can be withdrawn. During the cooldown, the USDu is held in a dedicated withdrawal contract and no longer earns yield.

***

#### 8. Where can I verify the collateral backing USDu and sUSDu?

Users can verify collateral and solvency through Unitas’ transparency dashboard. These include onchain multisig holdings, custodial balances, and cryptographic proofs provided through third-party verification partners.

***

#### 9. How does Unitas manage risk during volatile or low funding conditions?

Risk is managed through continuous monitoring of collateral composition, hedge alignment, and liquidity conditions. Revenue from JLP trading activity helps offset periods of reduced funding, and an insurance fund provides an additional buffer during adverse conditions.

***

#### 10. What happens if the yield strategy underperforms?

A portion of protocol revenue is allocated to an insurance fund. This fund is used to smooth returns when revenue temporarily declines or hedging costs increase. Users cannot owe funds to the protocol through USDu or sUSDu.

<br>