Plume USD (PUSD): Uses, Supply and Risks

Plume USD (PUSD) is a dollar-oriented stablecoin for the Plume ecosystem, which focuses on bringing real-world assets (RWAs) onchain. The project describes PUSD as fully backed and as a shared liquidity layer for stablecoin activity on Plume. A stablecoin is intended to hold a relatively steady value against a reference currency, but its market price can still move away from that target.

PUSD is distinct from PLUME, the network’s separate token. PUSD is presented for payments, trading and collateral on onchain applications, while public sources do not specify that PUSD is used to pay network transaction fees or govern Plume. It also does not identify the assets backing PUSD, the reserve custodian, or the process for creating and redeeming tokens. Those details matter when assessing how reliably a stablecoin can maintain its intended value.

PUSD is intended to support financial activity within Plume’s real-world-asset finance ecosystem. The project lists payments, trading and collateralization as uses, and describes PUSD as a common liquidity layer for stablecoin operations on Plume. In practice, a token may be useful in an app only if that app supports it and there is enough liquidity for users to trade or move it without large price changes.

The project also presents PUSD as a route to earning yield on assets deposited into the Plume ecosystem. That should not be read as a guaranteed return on simply holding PUSD. Any yield may depend on a separate app, product, or strategy, and could involve smart-contract, asset, liquidity and counterparty risks. Check the terms of the specific service and how it generates returns before depositing funds. Public sources do not name particular apps or state a fixed yield.

PUSD is issued on Ethereum and Plume Mainnet. It is not listed as the native token of either chain. Before sending it, confirm that the receiving wallet or app supports PUSD on the exact network you intend to use. Sending a token through an unsupported network or to an incompatible address can make funds difficult or impossible to recover.

As of 2026-11-05, reported circulating and total supply were both about 1.84 million PUSD, with no maximum supply reported. Its market capitalization and fully diluted valuation were each about $1.8 million. The reported price was about $1.001, and 24-hour trading volume was about $1,465 at that time. These figures change and are not evidence of available redemption liquidity. The supply data also does not explain how issuance and redemption work, or how much reserve backing is held. Check current network and contract details through reliable project channels before interacting with a token presented as PUSD.

A stablecoin can lose its intended dollar value if reserves, redemption access, market liquidity or confidence weaken. Although the project describes PUSD as fully backed, public sources do not provide reserve composition, independent attestations, redemption conditions or the identity of any custodian. Review those details before relying on PUSD for payments or collateral. Low trading volume can also make it harder to trade at a predictable price, especially in a volatile market.

PUSD may involve smart-contract and bridge risks when used across applications or networks. A token’s name and ticker alone do not prove that it is the genuine asset, so verify the contract and network using trusted project information. For self-custody, keep wallet recovery phrases and private keys offline and never share them; for a custodial service, understand its custody and withdrawal terms. A wallet can store PUSD only if it supports the relevant network and token. This is general information, not a guarantee of safety or value.