Verified Minter Contracts can mint USDV using STBT as collateral.
Token contracts on any USDV-enabled blockchain can send remint requests to the vault to atomically burn-and-swap USDV from one color to another.
Tokens are freely transferred between wallets within or between blockchains.
All tokenized assets and generated yields are stored in a globally unique Vault on Ethereum, the most secure and decentralized L1 chain on the market.
The Vault issues, tracks, and updates the mint of each color. The mint of each color is the sum of circulation for a given color across all chains.
This mint is used to calculate the contribution of a given color to the global circulation across all blockchains, which is used to calculate yield shares.
After USDV is minted in the Vault, it is atomically transferred to the Minter’s wallet on the primary chain, from where it can be transferred to other chains or wallets.
USDV contracts are compatible with the widely adopted token standards (e.g. ERC20 on EVM) with administrative features for compliance requirements. It will also include signature-based permit (EIP2612) interfaces on EVM chains.
USDV is deployed omnichain, and each USDV contract deployment manages local chain coloring state. The coloring information is used to implement reminting.