plUSD vaults
- This stablecoin does not have a price feed available at the moment and we are unable to display peg/depeg rates.
About plUSD vaults
Trevee Plasma USD plUSD is used in 2 stablecoin vaults with $13.5M TVLacross 2 protocols. The largest vaults are Staked Plasma USD, Trevee plUSDand the most popular vault protocols are Midas and Euler. The last 30 days' average yield is -4.6%.
About Trevee Plasma USD
Trevee Plasma USD (plUSD) is a meta-stablecoin backed 1:1 by USDT on the Plasma L1 chain. Deposits are deployed into Aave and Fluid for yield. Previously known as Rings Protocol.
plUSD is issued by Trevee (previously known as Rings Protocol) on the Plasma L1 blockchain, a chain purpose-built for stablecoins.
Mechanism
- Backed 1:1 by USDT — users deposit USDT to mint plUSD
- Deposits are deployed into Aave and Fluid for yield
- splUSD (Staked Plasma USD) is the yield-bearing version that auto-compounds returns
- Midas RWA provides the vault infrastructure
This is NOT a Liquity fork — it is a USDT-backed meta-stablecoin.
Status
Effectively dead — CoinGecko shows ~$8.4M market cap but trading stopped ~2 months ago. DeFiLlama shows Trevee Earn TVL collapsed from ~$54M peak (Sept 2024) to ~$950.
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Performance and risk
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| 3M price | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Trevee plUSD Euler | 0.0% | 0.0% | 0.0% | 0.0 | 0.0% | --- | plUSD | $2.90M $2.90M | 0.003 | 0.0%/ 0.0% | Capped | Negligible |  | ||
Staked Plasma USD Midas | -5.9% | -95.7% | 5.3% | -2.0 | 108.2% | -53.7% | plUSD | $10.60M $56.14M | 1.0 | --- | Unknown | Low |  |
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