bnUSD: a stablecoin backed by crypto
A decentralised cryptocurrency tied to 1 USD that you can use wrapper-free on 12 blockchains.
Earn a passive income.
Supply bnUSD to the money market to earn interest and borrow other assets, and withdraw the instant you need it.
Borrow without any surprises.
Take advantage of bnUSD’s fixed 2% interest rate so the only thing you need to manage is your risk.
Transact with confidence.
Enjoy bnUSD’s stability and versatility for payments and trades across a wide range of blockchain ecosystems.
What is the
Balanced Dollar?
The Balanced Dollar (bnUSD) is a stablecoin, which means it tracks the price of 1 US Dollar. It uses crypto — not an algorithm — to guarantee its value, with support for a wide range of collateral types.
You can use bnUSD wrapper-free on every chain Balanced connects to. It’s over-collateralised, so the total supply cannot exceed the value that backs it.
Available on
Arbitrum
Avalanche
Base
BNB Chain
Hyperliquid
Injective
Optimism
Polygon
Solana
Sonic
Stellar
Sui
Supported collateral types
afSUI
AVAX
BNB
BTCB
cbBTC
ETH
haSUI
INJ
JitoSOL
mSUI
SOL
SUI
tBTC
vSUI
wBTC
weETH
wstETH
XLM
How bnUSD
maintains its value.
The Balanced Dollar is backed by volatile cryptoassets, so how does Balanced guarantee its value?
Loans are liquidated when bnUSD is worth more than 85% of the collateral that backs it, and the Stability Fund can stabilise short-term price fluctuations.
Stability Fund
The Stability Fund works behind the scenes with SODAX Intents to swap USDC and USDT 1:1 for bnUSD.
When the Stability Fund receives USDC or USDT, it holds them as collateral and mints bnUSD. When returned, the bnUSD gets burned and the stablecoins released. If bnUSD is not worth $1, SODAX uses the Stability Fund for arbitrage to stabilise the price.
If bnUSD is above $1
SODAX uses USDC and USDT to mint bnUSD 1:1, which it sells at a premium and repeats until no longer profitable.
If bnUSD is below $1
SODAX buys bnUSD at a discount, then swaps it 1:1 for USDC and USDT and repeats until no longer profitable.
What can you do with bnUSD?
Earn interest and borrow crypto.
Supply bnUSD to the money market to earn interest, and withdraw the instant you need to use it.
Use your bnUSD as collateral to borrow crypto at a variable interest rate, or borrow bnUSD for a fixed 2%. There’s a 0.1% borrow fee, and your debt will increase over time.
Trade and send across 12 chains.
Use bnUSD to swap between a growing range of assets, and as a stable currency for payments. It’s decentralised, and you can use it wrapper-free across 12 blockchains.
Use the Balanced Dollar stablecoin.
Earn, borrow, and trade bnUSD across 12 blockchains on Balanced.