yzUSD, issued by Yuzu Money, is a U.S. dollar (USD) referencing stablecoin that constitutes the senior, overcollateralized tranche of the Yuzu Alpha vault, targeting a value of one USD per token through onchain collateral deployed across third-party protocols [S1].

yzUSD targets a value of 1 USD and is backed by onchain collateral allocated to U.S. Treasury Bills, A-grade investment credit, overcollateralized loans, leveraged positions, funding-rate arbitrage, and cross-chain stablecoin arbitrage across protocols including PayPal, Sky, Ethena, Maple, OpenEden, Ripple, Hyperliquid, Aave, Morpho, Euler, and Pendle [S1]. The senior tranche is overcollateralized at 103.3%, with the junior tranche yzPP absorbing first-loss risk [S1]. A staked variant, syzUSD, accrues yield [S1].

Yuzu Money presents yzUSD as the senior tranche token of the Yuzu Alpha vault, structured so that the junior yzPP tranche bears first loss while the senior tranche remains overcollateralized [S1]. The issuer states its infrastructure serves neobanks, wealth managers, and accredited investors [S1]. Redemptions are described as usually 24 hours but up to three days [S1]. Custody of wallet infrastructure uses Fordefi MPC, certified SOC 2 Type II, with audits by Pashov Audit Group and Dedaub and real-time threat monitoring by Hypernative [S1].

yzUSD is the senior token of the Yuzu Alpha vault, with the staked variant syzUSD described as ERC-4626 and the junior tranche yzPP issued alongside it onchain [S1]. Minting and redemption are gated to eligible participants, with redemption settlement usually 24 hours but up to three days [S1]. A Proof-of-Reserves and Proof-of-Solvency dashboard is referenced [S1].

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# Outstanding supply Methodology

## Overview

Outstanding supply measures the circulating supply of stablecoins issued by a project. It excludes stablecoins that have been authorized but not issued, or that are held in the issuer’s treasury. It tends to serve as a proxy for the issuer’s revenue-generation capacity, as the collateral backing the outstanding supply is often invested in yield-bearing assets, such as U.S. Treasuries.

## Data sources

- Smart contract events capturing token issuance and redemption
- Token account balances and program instructions for non-EVM chains
- Token metadata for decimal precision and asset identification
- Token price feeds for USD conversion

## Common calculation approaches

### Event-based issuance tracking
For many stablecoin issuers, cumulative supply is determined by monitoring token issuance and redemption events. `Mint` and `Burn` events are extracted from the smart contracts of issuers such as Circle and Ethena to maintain a running total of net supply. Similar logic is applied to `Transfer` events involving the zero address for issuers like World Liberty Financial to identify changes in the circulating supply.

### Balance-based snapshot aggregation
Outstanding supply is also derived from daily snapshots of token holdings across various blockchains. On Solana, the total supply is aggregated from program instructions for issuers like Tether and Circle by summing the balances of all active token accounts. This method allows for the identification of circulating tokens while ensuring that assets held in known treasury or non-circulating addresses are excluded.

### Debt-based calculation with exclusions
For issuers with debt-based models, outstanding supply is calculated by identifying total minted debt and subtracting idle balances. For example, total debt is obtained from the `debt` function in `VAT` contracts for Sky, with assets held in bridge contracts or lending modules subsequently excluded to arrive at the net circulating amount.

**Note:** The calculation approaches and protocol examples above are representative patterns. Individual protocol implementations may vary.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Circulating supply of stablecoins issued by the project.

Outstanding supply

Stablecoins

Yuzu Money wraps some of the highest yielding DeFi strategies into a single overcollateralized stablecoin (yzUSD). DeFi offers high yields and composability, but it's complex and challenging. It has a steep learning curve and an ever-evolving ecosystem requiring constant research with persistent risks. Yuzu Money aims to bring the best of DeFi to everyone by wrapping curated high yield DeFi strategies in a single stablecoin (yzUSD) layered with institutional grade risk mitigation.

website

documentation

Stablecoin issuers

Yuzu Money

Yuzu USD (yzUSD) is a U.S. dollar stablecoin issued by Yuzu Money through YUZU FINTECH LLC.

Each token tracks one U.S. dollar and is a collateral-backed contractual exposure rather than a direct claim on the issuer.

Accredited investors, qualified investors, and institutions can mint and redeem directly with Yuzu Money in USDT0 after completing KYC.

YUZU FINTECH LLC is incorporated in Georgia.

Holder terms are governed by the law of Georgia.

yzUSD has been issued on Plasma as an ERC-20 and ERC-4626 token since October 2025, with a bridged version on one more network.

Yuzu USDyzUSD