sYUSD, issued by Aegis Vault Ltd., is a tokenized yield-bearing vault interest that represents a proportional, auto-compounding share of the staking pool underlying Aegis YUSD, a U.S. dollar (USD) pegged stablecoin backed by a delta-neutral Bitcoin strategy [S1][S2][S3].

Holders stake YUSD to receive sYUSD, an ERC-4626 vault token whose exchange rate appreciates as yield accrues, beginning at 1 sYUSD equal to 1 YUSD and rising thereafter [S2][S3]. Yield derives from market-neutral Bitcoin perpetual funding-rate capture and basis trading, holding BTC spot and selling COIN-M perpetuals; generated profits deposit into the staking contract every 7 days, increasing backing rather than minting tokens, with reward snapshots every 8 hours [S4][S5][S3][S2].

Aegis Vault Ltd. is incorporated under British Virgin Islands law with registration number 2163500 and issues the tokens under parameters approved by Aegis DAO Foundation, a Cayman Islands foundation handling governance [S6][S7][S8]. The British Virgin Islands Financial Services Commission (FSC) and Cayman Islands Monetary Authority (CIMA) frameworks apply respectively [S9][S8]. sYUSD is a staked, yield-bearing vault token; direct minting of underlying YUSD requires KYC verification through a compliance partner, while DEX acquisition requires none [S5][S10]. Unstaking sYUSD triggers a 7-day cooldown before conversion back to YUSD [S2]. Deposits are held offchain with institutional custodians Fireblocks, Copper, and CEFFU using off-exchange settlement, with assets stated to remain segregated [S4][S5][S11].

sYUSD is implemented as an ERC-4626 vault token with deposit and redeem functions supporting ERC-2612 Permit signatures, deployed on Ethereum and BNB Chain [S2][S12]. Underlying YUSD mints against USDT, USDC, or DAI deposited into the Aegis Mint smart contract [S5][S10]. Reserves and exchange positions publish in real time via a proof-of-reserves dashboard and API [S1][S11].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://aegis.im/" },
    { id: "S2", url: "https://docs.aegis.im/tokens/syusd-yield-bearing-token" },
    { id: "S3", url: "https://docs.aegis.im/overview/profit-distribution-mechanism" },
    { id: "S4", url: "https://docs.aegis.im/get-started/aegis-solution" },
    { id: "S5", url: "https://docs.aegis.im/aegis-faq/how-does-yusd-work" },
    { id: "S6", url: "https://docs.aegis.im/legal/know-your-customer-kyc-and-anti-money-laundering-aml-policy" },
    { id: "S7", url: "https://legal.aegis.im/knowledge-base/terms-of-service-of-aegis-dao-foundation/" },
    { id: "S8", url: "https://legal.aegis.im/article-categories/cima/" },
    { id: "S9", url: "https://legal.aegis.im/" },
    { id: "S10", url: "https://docs.aegis.im/aegis-faq/how-can-i-buy-yusd" },
    { id: "S11", url: "https://docs.aegis.im/overview/real-time-proof-of-reserves" },
    { id: "S12", url: "https://docs.aegis.im/smart-contracts" },
  ]}
/>


Tokenized funds

Aegis issues YUSD, a Bitcoin-backed synthetic dollar that earns yield from BTC perpetual funding rates by holding spot positions hedged with COIN-M futures, distributing rewards weekly to holders.

Aegis is a decentralized stablecoin platform issuing Bitcoin-backed YUSD that generates yield through delta-neutral trading strategies. The protocol distributes funding-rate payments from Bitcoin perpetual markets to stablecoin holders, with sYUSD as an auto-compounding staked variant.

Aegis was founded by a team of financial industry veterans and backed by Dewhales Capital and Profluent Ventures.

website

twitter

Stablecoin issuers

Aegis

Aegis Staked YUSD (sYUSD) is a tokenized fund share issued by Aegis through Aegis Vault Ltd.

Each token is a direct claim on the issuer.

The fund is open-ended and invests in crypto assets.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can subscribe and redeem in YUSD, with a YUSD 1 minimum and instant subscription settlement, and holders have a right to redeem at net asset value with two-to-five-business-day settlement.

Aegis Vault Ltd. is incorporated in the British Virgin Islands.

Holder terms are governed by the law of the British Virgin Islands.

sYUSD has been issued on Ethereum as an ERC-4626 token since June 2025.

Aegis Staked YUSDsYUSD

All metrics