Boundary

Boundary issues USBD, a verifiable dollar stablecoin aimed at institutions, on the logic of replacing trusted audits with onchain checks: reserves, net asset value and protocol state are disclosed daily onchain so anyone can confirm circulation matches collateral. The audience is asset managers, hedge funds and family offices, with KYC and KYB built into minting and redemption.

Collateral is over-funded and hedged: assets exceed circulating supply while direction-neutral positions offset price moves, and the protocol explicitly avoids recursive leverage, requiring every yield source to stay neutral. Yield sits not in USBD but in a wrapper, sUSBD, which tracks strategy net value when staked and carries an unstaking wait of zero to seven days. In May 2026 the project published the USBD and sUSBD design, making daily reserve proofs and NAV disclosure its main point of separation from incumbent stablecoins.