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Resupply Review 2026: reUSD Borrowing and the 2025 Exploit

Resupply is an Ethereum stablecoin protocol that lets users borrow reUSD against crvUSD or frxUSD lending positions. It carries real risk: a reported exploit of about $9.6 million in June 2025 is part of its record.

Ethereum

By the DappsAtlas editorial team · Updated Nov 4, 2026

DappsAtlas score

5.5/10

Mixed

Visit Resupply

Our verdict on Resupply

5.5/10

Resupply suits experienced DeFi users who already hold crvUSD or frxUSD and want to borrow reUSD without selling their lending positions. Its strength is the design: it keeps the underlying lending yield, uses a clear borrow-rate formula and adds an Insurance Pool. The main caveat is security, since a reported exploit of nearly $9.6 million in June 2025 shows that audits and a stablecoin-only design do not remove contract risk. Beginners should avoid it, and anyone else should size positions carefully.

Score breakdown

How Resupply scores

Security: 4.0/10
Ease of use: 6.5/10
Fees: 6.5/10
Features: 7.0/10

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is Resupply?

Resupply is a decentralized stablecoin protocol on Ethereum. It lets people supply crvUSD or frxUSD to Curve Lend or Fraxlend and then borrow its own stablecoin, reUSD, against those lending positions. The homepage says it was made by Convex and Yearn in collaboration with other DeFi teams.

DefiLlama lists it under Lending, with about $50.2 million in TVL, a 7% drop over seven days, two audits and the RSUP token. It has been listed since March 2025.

The record includes a reported exploit. A search result dated June 26, 2025 says a hacker used a flaw in the protocol to take nearly $9.6 million. Readers should treat that as a central part of the risk picture.

How Resupply works

Resupply sits on top of existing lending markets. A user supplies crvUSD to a Curve Lend market or frxUSD to a Fraxlend market. The resulting lending position is used as collateral, and the user keeps earning that market's lending yield.

Against that collateral the user borrows reUSD, Resupply's stablecoin. Because the collateral and the debt are both stablecoins, the homepage says price-volatility risk is minimal. The borrower can use the reUSD elsewhere to earn more yield, and receives RSUP rewards.

Two mechanisms protect the system. If a borrower's debt grows too large relative to collateral, the Insurance Pool is used to liquidate the position. If an approved collateral market runs into trouble, the pool repays the reUSD tied to it and sells the distressed collateral to limit bad debt. Redemptions also help keep reUSD near its peg.

6 features

Key features

Lending positions as collateral

Users deposit crvUSD or frxUSD into Curve Lend or Fraxlend markets and use those positions as collateral. They keep earning the underlying lending yield.

Borrow reUSD

Borrowers mint reUSD against their positions. The homepage says users can make their stablecoins work up to 20 times as hard.

Rate formula

Borrow rates equal the higher of half the market lending rate, half the sfrxUSD rate, or 2%.

Insurance Pool

Users deposit reUSD into a pool that funds liquidations and acts as a reserve if an approved collateral fails. Depositors receive a share of revenue and RSUP emissions.

Redemptions for peg support

Redemptions are described on the homepage as a way to help maintain the reUSD peg.

RSUP staking and governance

RSUP holders can stake the token and take part in governance through proposals and a governance forum.

Pros and cons

What we like

Keeps the underlying Curve Lend or Fraxlend yield while allowing reUSD borrowing
Stablecoin-against-stablecoin design limits price-volatility risk, per the homepage
Stated minimum borrow rate floor of 2% with a transparent rate formula
Insurance Pool is designed to absorb liquidations and protect against bad debt
Contracts described as immutable and non-custodial, with two audits listed on DefiLlama
Backed by teams from Convex and Yearn, according to the homepage

Watch out for

A June 2025 exploit reportedly drained close to $9.6 million, according to a news headline in public reporting
Depends on Curve Lend and Fraxlend markets, so problems there pass through to reUSD
Borrow rates are formula-based and can change, so costs are not fixed
Insurance Pool depositors accept the risk of covering losses from a distressed collateral
Leverage of up to 20x on stablecoin yield can amplify mistakes and liquidation risk
TVL fell 7% in the past seven days and the stablecoin's long-term peg record is not covered publicly

Resupply fees

Resupply does not publish a flat fee. The homepage says borrow rates are the higher of half the market's lending rate, half the sfrxUSD rate, or 2%, so the minimum borrow rate is 2%.

The Insurance Pool earns a fee each time it is used for liquidations, and a share of protocol revenue goes to its depositors. Current rates, fees and Ethereum gas costs appear in the app and docs before a transaction.

Is Resupply safe?

The homepage describes immutable, non-custodial smart contracts reviewed by peers and security auditors, and DefiLlama lists two audits. Funds stay in smart contracts, so the main risks are contract bugs, collateral-market failures and reUSD depegging.

A search result dated June 26, 2025 reports that a hacker exploited a flaw in the protocol and took nearly $9.6 million. The project does not say how losses were handled or what changed afterward. Users should read the project's official post-mortem and docs. Another result gives a third-party risk rating of C+, but its method is not verified here.

7 steps

How to get started with Resupply

1
Check that the protocol is operating normally by reading the official docs, Discord and X account, given the reported 2025 exploit.
2
Hold crvUSD or frxUSD in an Ethereum wallet.
3
Connect the wallet to the Resupply app.
4
Choose a Curve Lend or Fraxlend market and supply collateral.
5
Review the borrow rate, the collateral ratio and the liquidation risk before borrowing reUSD.
6
Borrow a small amount first and monitor the position.
7
Optionally deposit reUSD in the Insurance Pool, only after understanding that you accept shared risk.

Open Resupply

Who Resupply is for

Resupply is for experienced DeFi users who already use Curve Lend or Fraxlend and understand collateral ratios, liquidations and stablecoin pegs. It is not suited to beginners or anyone who cannot tolerate smart-contract loss.

Resupply FAQs

What is Resupply?

Resupply is a decentralized stablecoin protocol on Ethereum. Users supply crvUSD or frxUSD to Curve Lend or Fraxlend and borrow the reUSD stablecoin against those positions.

What is reUSD?

reUSD is the stablecoin issued by Resupply. It is minted when users borrow against lending positions, and the homepage says redemptions help maintain its peg.

What is RSUP used for?

RSUP is the protocol's token. The homepage describes RSUP rewards for borrowers and for people who deposit reUSD in the Insurance Pool, plus a staked RSUP vAPR and governance.

Has Resupply been hacked?

Public reporting includes a report dated June 26, 2025 that a hacker exploited a flaw in Resupply and took nearly $9.6 million. The project does not give details of the aftermath, so check the project's official channels for the current status before using it.

How much does it cost to borrow reUSD?

The homepage says borrow rates are the higher of half the market's lending rate, half the sfrxUSD rate, or 2%. Exact current rates are shown in the app.

Is Resupply safe?

The homepage describes the contracts as immutable and non-custodial and says they were reviewed by auditors, and DefiLlama lists two audits. The reported exploit shows audits do not remove risk, so only use funds you can afford to lose.

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