Underlying asset
USP
Issued by Piku. The facts below were checked on the date shown, from the sources listed.
USP is issued by Piku. What stands behind it: off-chain arbitrage. Only approved holders can redeem it; others leave by selling.
Facts
- Issuer
- Piku
- What stands behind it
- off-chain arbitrage
- Strategy
- the arbitrage between Turkish lira and US dollar rates, delta-neutral
- Valued in
- USD
- Position in the capital stack
- not a tranche
- Who has to keep a promise
- a manager off chain, code on chain
- Redemption
- redeemed only by approved holders
- Who can change it
- a multisig (Safe) · 2 of 3 signatures · two signatures, no timelock 0xc9996a03d7979003b65ae76c1154792bc24bce43 (Ethereum)
- Audits
- Hats Finance, 2024-06
Also named by the issuer, without a linked report: 0xMacro, Team Omega, 33Audits - Bug bounty
- not found in a source that meets the standard
- Depends on
- none recorded
- Chains
- Ethereum
- Checked
- 2026-10-01, from the issuer's own documents
- Sources
- https://docs.piku.co/piku
https://docs.piku.co/piku/piku-finance/vaults/usp-yield-vault
https://docs.piku.co/piku/piku-finance/vaults/usp-yield-vault/minting-and-redemption
https://docs.piku.co/piku/piku-finance/security-and-risks/risks-and-mitigations
https://docs.piku.co/piku/piku-finance/security-and-risks/audits
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 |
|---|---|---|
| Ethereum | 2026-11-26 | PT-USP-26NOV2026 |
Not found
What the research has not answered for this asset, said rather than left blank.
- A public bug bounty programme.
- Incidents: this encyclopedia does not yet keep a record of incidents from primary sources.