USDh
The dollar that lends to governments.
Governments pay interest to borrow it. Most of that interest funds a monthly prize draw for holders. Or stake it as sUSDh and earn 7% APY.
03 · The lender
You’re the lender.
You always were. You just never got paid.
What governments pay to borrow dollars3
Your stablecoin today0%
United States4.05%
UAE5.40%
Brazil5.90%
Turkey7.01%
Nigeria7.05%
Egypt7.32%
Bahrain8.95%
What the US paysThe extra other governments pay
sUSDh lends to a selection of these · 7% APY4See every government →
For centuries, ordinary people lent to governments and lived on the interest.
The biggestborrowers on earth.
Brooklyn Bridge, 1883. Built with money the city borrowed.
Then a bank got in between.
- 1648A Dutch water board bond. It still pays interest.5
- 1790Hamilton turns America’s war debts into bonds.
- 1825New York borrows to dig the Erie Canal.
- 1883Brooklyn and New York borrow for the bridge.
- 1917Millions of Americans buy Liberty Bonds.
04 · The borrowers
What they owe their lenders today.6
Three kinds of borrower. Hamilton lends to two.
This year the US spent $1.97 trillion more than it collected.
That’s $5.9 billion a day, borrowed.
- $29.9TThe USBorrows in the dollars it prints.USDh lends here
- $3.2TOther governments, in money they can’t printMostly dollars. That’s why they pay more.
sUSDh lends here - ~$47TOther governments, in their own moneyTheir currency, their rules.Hamilton doesn’t lend here
05 · The risk
Countries don’t go bankrupt. They restructure.
There’s no bankruptcy court for a country. When one can’t pay, it renegotiates with its lenders.
- 1A payment is missedThe government can’t pay on time.
- 2TalksIt sits down with its lenders.
- 3New termsUsually a cut and more time to pay.
- 4Payments resumeUnder the new terms.
Who carries it? sUSDh does. USDh, only if the US does.
USDhsUSDhOne restructuring touches one loan, not both.
Exit in 30 days, or sooner through the exit pool. How exits work →
06 · Your move