Tangent

Tangent is a decentralized, over-collateralized stablecoin protocol. Its stablecoin, USG, is backed by productive collateral (Curve LP tokens, Pendle PTs) rather than idle reserves; the separate sUSG wrapper is the yield-bearing form.

Users deposit productive, yield-bearing collateral (Curve/Convex LP tokens, Pendle PTs, and similar assets) into Tangent's lending markets and mint USG against it, either keeping all collateral rewards under a dynamic interest rate or borrowing interest-free against a portion of the rewards. TAN token holders govern the protocol and share in its earnings.

Tangent is a decentralized finance protocol governed by TAN token holders as a DAO; no legal issuing entity for USG has been identified.