What is USDaf?

For the first time ever, borrow with user-set fixed interest rates against BTC + Stables.

Borrow against:

Bitcoin

• wBTC (Wrapped Bitcoin)

• tBTC (Threshold Bitcoin)

Yield Bearing Stablecoins

• sUSDS (Savings Sky Dollar)

• sfrxUSD (Staked Frax USD)

• scrvUSD (Savings Curve USD)

• ysyBOLD (Yearn Savings BOLD)

Target Addressable Market of $24 billion+ of assets.

Borrowing on your terms, custom fixed interest rates — adjustable at any time.

Not looking for a loan? USDaf can be purchased in the open market and used to earn on your stables! https://swap.cow.fi/#/1/swap/USDC/usdaf

USDaf is Powered by Liquity v2 — Like Liquity v1 and v2, USDaf is entirely immutable and decentralized, meaning that the system is entirely permissionless and non-upgradeable.

USDaf and the Liquity v2 codebase have been audited 10 separate times ranging from a variety of private audits (Dedaub, YAudit/Electisec, Chainsecurity, Coinspect, Certora, Recon) to public $350k audit competitions (Cantina). All audits can be found here.

What is a Yield-Bearing Stablecoin?

A yield-bearing stablecoin generates passive income for its holders through mechanisms such as staking or depositing into savings contracts within decentralized finance (DeFi) protocols. These stablecoins are typically represented by specific tokens that accrue yield over time.

When you use a yield-bearing stablecoin with USDaf, the yield you earn is IN ADDITION to the native yield of the yield-bearing stablecoin itself.

At the time of writing, this is the native yield of each yield-bearing stablecoin: