bUSD0 is the bond version of USD0. You lock your dollar balance for a period, and in exchange you earn a steady coupon paid in USUAL. At maturity, your USD0 comes back to you 1-to-1.
As a DeFi bank, Usual offers bUSD0 as a yield-bearing alternative to simply holding USD0. Think of it as a term savings account: you commit to leaving your balance for a period, and you get paid for that commitment.
The essentials
What it is | A bond-style position in USD0 |
Yield paid in | USUAL (daily coupon) |
Maturity date | 11 June 2028 |
Redemption at maturity | 1 bUSD0 = 1 USD0, guaranteed |
Early exit | Possible (see below) |
Transferable | Yes, fully liquid |
How it works in one minute
You deposit 1 USD0 into bUSD0
You receive 1 bUSD0 and 1 rt-bUSD0
bUSD0 earns a daily coupon in USUAL until maturity
At maturity, 1 bUSD0 redeems for 1 USD0 automatically
If you want to exit early, there are three options — see Staking, unstaking, and early exit
Why two tokens?
When you deposit USD0 into bUSD0, the platform gives you two tokens:
bUSD0 — your yield-bearing position. Earns a daily USUAL coupon.
rt-bUSD0 — your "early exit ticket". Required to recombine your position back into USD0 before maturity.
Splitting the position into two tokens gives you flexibility. You can sell one without selling the other, keep the yield stream and sell the exit ticket, or keep the exit ticket and sell the yield stream.
Who bUSD0 is for
You already hold USD0 and want it to earn more than a plain savings account
You are comfortable committing your balance until or near maturity for the best outcome
You want exposure to USUAL price upside alongside your fixed-income position
Who bUSD0 is not for
A quick history note
bUSD0 was previously called USD0++. It was renamed to bUSD0 (bonded USD0) via UIP-12 in November 2025. All USD0++ holders were automatically migrated to bUSD0. If you see "USD0++" mentioned anywhere, it refers to the same product under its old name.
Note: bUSD0 is a multi-year commitment. Read the yield mechanism and early exit options carefully before depositing a large amount.
Technical note (for DeFi users): bUSD0 is a Liquid Bond Token (LBT) in Usual's LDT/LBT framework. Non-rebasing, fixed-notional (1 bUSD0 = 1 USD0 at maturity). Minting splits 1 USD0 into 1 bUSD0 + 1 rt-bUSD0. The daily USUAL coupon is distributed from the bTOKEN emission bucket (~130K USUAL/day post-UIP-11). Addresses: bUSD0 0x35D8949372D46B7a3D5A56006AE77B215fc69bC0, rt-bUSD0 0x82DCA22b48B14DE38ccf83B03330120c4b8acFe9. See the docs.
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