Underlying asset
USDai
Issued by USD.AI. The facts below were checked on the date shown, from the sources listed.
USDai is issued by USD.AI and pays its holders nothing of its own: what stands behind it (short-dated government bills) earns for the issuer, or for those who stake it. Only approved holders can redeem it; others leave by selling. Its yield on Pendle is a campaign of incentives.
Facts
- Issuer
- USD.AI
- What stands behind it
- short-dated government bills
- Strategy
- cash and short-dated government paper at a custodian
- Valued in
- USD
- Position in the capital stack
- not a tranche
- Who has to keep a promise
- a regulated issuer, code on chain
- Redemption
- redeemed only by approved holders
- Who can change it
- a timelock · 48 h delay · covers code upgrades only; who holds the token's admin role (mint, burn, pause) could not be read 0x0eea1ee08611ff4a4e83bfe3916712751995639b (Arbitrum)
- Audits
- Cantina, 2025-05
Also named by the issuer, without a linked report: Quantstamp, ktl - Bug bounty
- up to $100,000 on Cantina
- Depends on
- none recorded
Other assets from the same issuer: sUSDai - Chains
- Arbitrum
- Checked
- 2026-10-01, from the issuer's own documents
- Sources
- https://docs.usd.ai/depositor/usdai
https://docs.usd.ai/usdai/how-it-works
https://docs.usd.ai/technical-overview/audits
https://cantina.xyz/portfolio/23dbab18-bbea-4184-8eb5-584faaf80903
https://cantina.xyz/bounties/32e64f2e-5f01-4a0b-bbe3-76f32c17b99f
Pendle markets on it
Live Pendle markets on this asset, as of 6 Oct 2026. Rates are not shown. Market data: Pendle.
| Chain | Maturity | Principal token |
|---|---|---|
| Arbitrum | 2026-10-15 | PT-USDai-15OCT2026 |
| Arbitrum | 2027-02-25 | PT-USDai-25FEB2027 |
Not found
What the research has not answered for this asset, said rather than left blank.
- All six questions are answered for this asset.
- Incidents: this encyclopedia does not yet keep a record of incidents from primary sources.