> For the complete documentation index, see [llms.txt](https://docs.usd8.ai/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.usd8.ai/getting-started/what-is-usd8.md).

# What is USD8?

USD8, sUSD8 and term certificates — what each asset is, how to acquire and exit it, and what you earn by holding it.

The protocol has three layers, each with its own role. This page walks through all three the same way you will meet them in the app: the stable base, the yield-bearing share, and the sealed term.

```mermaid
flowchart LR
    USDC(["USDC"]) -->|"Mint 1:1"| USD8(["USD8"])
    USD8 -->|"Stake"| SUSD8(["sUSD8"])
    SUSD8 -->|"Lock 30–364 days"| CERT(["Term certificate (NFT)"])
    CERT -.->|"At maturity: principal + boost"| SUSD8
    SUSD8 -.->|"Unstake"| USD8
    USD8 -.->|"Redeem (T+7)"| USDC
```

***

## <mark style="color:green;">USD8</mark> — the stable base

<mark style="color:green;">**USD8**</mark> is a dollar token on HyperEVM. It is minted 1:1 against USDC received by the mint vault, targets a price of $1, and **does not rebase** — one USD8 stays one USD8.

**Acquiring** <mark style="color:green;">**USD8**</mark>**:** Anyone can mint USD8 permissionlessly on the [USD8 app](https://app.usd8.ai) by depositing USDC into the mint vault — one dollar in, one USD8 out, with zero protocol mint fee. USD8 can also be acquired on secondary markets as HyperEVM liquidity grows.

**Exiting** <mark style="color:green;">**USD8**</mark>**:** Redeem USD8 back to USDC on the app. Redemptions run through a cooldown (T+7 days by default): your USD8 is escrowed by the vault during the countdown and the request can be cancelled anytime before claim. See [Mint & Redeem](/products/mint-and-redeem.md).

**Benefits of holding** <mark style="color:green;">**USD8**</mark>**:** USD8 is the protocol's stable settlement layer — hold it as an on-chain dollar, use it across the HyperEVM ecosystem, and earn [Gram points](/rewards/gram-points.md) daily. Raw protocol yield goes to stakers, not USD8 holders.

**Collateral and backing:** Every USD8 is backed by reserves received by the mint vault. Reserves are deployed into conservative, high-quality assets and managed by a team with years of hedge fund and asset-management experience — see [Reserves](/transparency/reserves.md).

***

## <mark style="color:orange;">sUSD8</mark> — the yield-bearing share

<mark style="color:orange;">**sUSD8**</mark> is an **ERC-4626 staking vault** over USD8. Protocol yield is delivered to the vault daily and vests linearly, which raises the NAV — the USD8 value of each sUSD8 share.

**Acquiring** <mark style="color:orange;">**sUSD8**</mark>**:** Stake USD8 on the app. You receive sUSD8 shares at the current NAV.

**Exiting** <mark style="color:orange;">**sUSD8**</mark>**:** Unstake on the app to convert shares back to USD8 at the current NAV. Unstaking is currently instant; the vault also supports a governance-configurable cooldown mode for market stress conditions. See [Stake: sUSD8](/products/stake-susd8.md).

**Benefits of holding** <mark style="color:orange;">**sUSD8**</mark>**:** Yield accrues automatically into the share price — **there is nothing to claim, ever**. The number of shares you hold stays constant while the value of each share rises with every daily distribution.

**Collateral and backing:** Each sUSD8 is a proportional claim on the USD8 held by the staking vault. The NAV is computed on-chain as vault assets divided by shares outstanding — anyone can re-derive it.

***

## <mark style="color:orange;">Locked sUSD8</mark> — the sealed term

Lock sUSD8 for a fixed term — **30, 60, 180 or 364 days** — and earn a boost multiplier of up to **1.50×** on top of base yield. Each lock mints a transferable **ERC-721 certificate NFT** recording your principal, term and maturity; at maturity you claim principal plus the accrued boost.

{% hint style="info" %}
Locked positions cannot be exited early — the fixed horizon is what earns the boost. Full details in [Lock: Term Certificates](/products/lock-terms.md).
{% endhint %}

***

## <mark style="color:blue;">Gram</mark> — the protocol's record of participation

<mark style="color:blue;">**Gram**</mark> is not an asset — it is the protocol's points system, tracking who used the protocol, and how early. You earn Gram daily by holding USD8, staking sUSD8, locking terms, and referring friends. See [Gram Points](/rewards/gram-points.md).

***

## The three tokens at a glance

| Token                                                                                                                                                                                                                                         | What it is             | How you earn                                    |
| --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------- | ----------------------------------------------- |
| <img src="https://3023945580-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FF2kfqWMLPWObs0FDO0Dd%2Fuploads%2Fgit-blob-bd0a3047100d2b2a457840a02a6a8ecef9275616%2FUSD8.svg?alt=media" alt="" data-size="line"> **USD8**   | Stable dollar, ERC-20  | Gram points; stability and composability        |
| <img src="https://3023945580-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FF2kfqWMLPWObs0FDO0Dd%2Fuploads%2Fgit-blob-e07a21f3c351791cf0372a34c09d4b6e620181b6%2FsUSD8.svg?alt=media" alt="" data-size="line"> **sUSD8** | Staked share, ERC-4626 | Daily yield via rising NAV; boosted when locked |
| <img src="https://3023945580-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FF2kfqWMLPWObs0FDO0Dd%2Fuploads%2Fgit-blob-d8c99a2d7d6020188340f21e18a0de32667f982b%2FGram.svg?alt=media" alt="" data-size="line"> **Gram**   | Points (off-chain)     | Holding, staking, locking, referrals, quests    |