BYUSD vaults
About BYUSD vaults
Bybit USD BYUSD is used in 1 stablecoin vault with $66.6K TVL. The largest vault is Dolomite: BYUSD.
1 vault is excluded from this ranking due to minimum TVL requirements or risk issues.
About Bybit USD
BYUSD is a stablecoin issued by Bybit, the cryptocurrency exchange. It is currently deployed on Berachain and is part of Bybit's Web3 stablecoin initiative. Details about reserves and redemption mechanisms are limited to exchange disclosures.
BYUSD is a fiat-backed stablecoin issued by Bybit, one of the world's largest centralised cryptocurrency exchanges. Each BYUSD token is pegged 1:1 to the US dollar and backed by Bybit's fiat reserves. The token is currently deployed on Berachain, where it serves as a liquidity asset within the ecosystem.
Mechanism
BYUSD is a centralised, fiat-collateralised stablecoin in the same category as USDT and USDC. Bybit maintains reserves verified through its ongoing Proof of Reserves programme, audited by Hacken, with reported reserve ratios consistently above 100%.
On Berachain, BYUSD can be used as accepted collateral to mint HONEY (Berachain's native stablecoin) through the HoneySwap dApp. Deep BYUSD liquidity pools also help anchor HONEY's peg by providing low-slippage redemption routes.
Key properties
- Centralised issuance by Bybit exchange
- 1:1 USD backing with fiat reserves
- Monthly/regular Proof of Reserves audits via Hacken
- Currently deployed on Berachain; usable as collateral for HONEY minting
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Performance and risk
The vaults on the listing are limited to the current category. See all vaults.
| 3M price | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dolomite: BYUSD Unknown vault protocol | 25.4%* | 23.9%* | 14.3%* | 4.0 | 5.4% | 0.0% | BYUSD | $66.60K $37.50M | 1.1 | --- | Unknown | Unknown |  |
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