Aegis YUSD (YUSD): What It Is, Uses and Risks

Aegis YUSD is a stablecoin issued by the Aegis protocol. The project describes it as decentralised and Bitcoin-backed, and says it is designed to hold a 1:1 peg to the US dollar while paying yield to holders. According to the project, the reserves sit in custodial vaults and are secured by smart contracts. That means the setup depends on a custodian as well as on code, so holders are trusting both the custody arrangement and the contracts. Our site lists YUSD under stablecoins and places the issuing project, Aegis, in the basis trading category. The site has not yet assigned the project a score. The public facts we have do not give a launch date, so we cannot say how long YUSD has been trading. Stablecoins try to hold a steady value, but a stablecoin can still lose its peg, and this one's own price history shows that it has traded away from $1 at times.

YUSD is meant to be held as a dollar-pegged unit that also earns yield. The project says the yield comes from a delta-neutral strategy. Bitcoin-margined perpetual contracts are used to offset the effect of Bitcoin price moves on the reserves, and the project describes profits from funding rate arbitrage as going to holders. Public reporting describes a process for claiming earned YUSD on the Aegis platform. Separate public reporting describes a governance token called AEG, which the project says gives holders a say in the protocol and which is linked to revenue from YUSD and a second product called jUSD. These are statements from the project and its own materials, and we have not verified how the yield or revenue is actually paid. The project is aimed at experienced DeFi users, so anyone considering it should understand perpetual futures and funding rates first.

As of 2026-11-05, the data we have shows a price of about $0.9989 and a market capitalisation of about $34.6 million, which ranks it 594th among tracked tokens. Circulating and total supply are both about 34.6 million, and no maximum supply is listed. The 24-hour trading volume is about $25,000, which is very thin for a token of this size, so a single sizeable trade could move the price. The all-time high was about $1.17 on 2025-12-16, and the all-time low was about $0.87 on 2026-02-01. The seven-day and one-year price changes in the data are close to zero. These figures change constantly and are shown only as a snapshot. Check a live source before relying on any number, and do not read them as a signal about future price.

YUSD is issued on Ethereum, Avalanche, and BNB Chain. It is not the native token of any of these chains. Each chain has its own version of the token with its own contract address, and the figures above are a combined view. Moving YUSD between chains usually involves a bridge or a swap, and bridges have a history of exploits, so the transfer adds a separate source of risk. Before buying or moving YUSD, confirm the contract address from the project's own published information and make sure you are using the right network. Sending tokens to the wrong chain or to a look-alike address can result in permanent loss.

The main risk is the peg. The price data shows YUSD has moved below $1, with an all-time low of about $0.87, so it has not held its target perfectly. Custody risk is also present, because the reserves are held in custodial vaults that users must trust. Smart contract bugs, which are a common cause of losses in DeFi, could affect the reserves or the yield mechanism. The hedge uses perpetual futures, which carry liquidation risk and funding rate risk; if the hedge fails or costs more than expected, the backing may not match the supply. Liquidity is low, so exiting a position may be costly. Rules for stablecoins and yield products are still changing in many countries, and that may affect the project. For storage, use a wallet you control and keep recovery phrases offline. Never share them, and treat any unsolicited message that asks for them as a scam.