Resupply USD (REUSD): What It Is, Uses and Risks

Resupply USD (REUSD) is a stablecoin designed to track one US dollar. It is described as a decentralized stablecoin backed by collateralized debt positions, or CDPs. In a CDP system, users lock up assets and borrow a token against them. Here that token is REUSD.

What sets Resupply apart is what sits behind the stablecoin. Rather than holding raw volatile crypto as collateral, the protocol builds on positions in existing lending markets, where other stablecoins are deposited and earn interest. The project's own description names Curve Lend and Fraxlend as the target platforms for launch. In effect, REUSD is a stablecoin layered on top of stablecoins that are already lent out elsewhere.

The token is issued on Ethereum and is classed as a stablecoin. It is not the native token of any blockchain. At the time of writing, it ranked around 473 by market capitalization, which makes it a small asset compared with the large fiat-backed stablecoins. Anyone looking at it should treat it as a niche DeFi product rather than a general-purpose dollar substitute.

REUSD is the unit of account for the Resupply protocol. Users who borrow from the protocol receive REUSD, and they repay in the same token. Holders can keep it as a dollar-denominated asset, move it between wallets, or use it in other DeFi venues where it has liquidity.

The design choice that the project highlights is its interest rate rule. The borrow rate is meant to be half of the lending rate being earned on the underlying market, half of the risk-free rate, or two percent, whichever is greater. The stated aim is to pass yield back toward participants while keeping borrowing costs predictable.

The project also describes an emissions programme of its own governance incentives. These are directed at three groups: an insurance pool, voting incentives and borrowers. Borrowers who bring in more revenue for the protocol are meant to receive a larger share of the emissions aimed at them. public data does not detail the name or terms of the separate governance token, so this page does not go further on that.

As of 2026-11-05, the circulating supply of REUSD was about 46.09 million tokens, and the total supply was the same figure. No maximum supply is listed. That is normal for a stablecoin, where supply expands when people borrow and shrinks when loans are repaid.

The market capitalization was about $45.8 million, and the fully diluted valuation was identical, because circulating and total supply match. The 24-hour trading volume was about $125,900, which is modest and suggests thin trading relative to the size of the supply.

The price was about $0.993 on that date. The recorded all-time high was about $1.18 on 2025-09-14, and the all-time low was about $0.888 on 2026-06-22. Those figures show that the token has traded well away from one dollar at times, which is an important point for a stablecoin. Over the seven days to that date, the price change was about 0.05 percent, so recent movement was small.

The launch date is not given in the data, so it is left out here.

REUSD is issued on Ethereum, so it can be held in any Ethereum-compatible wallet and moved using ordinary token transfers. Gas fees are paid in ETH, which matters for anyone moving small amounts.

Borrowers obtain REUSD by interacting with the Resupply protocol and its lending markets. Others acquire it on decentralized exchanges and liquidity pools, where stablecoin pairs are common. Curve is the venue most associated with the project, given that the project's own materials mention Curve Lend as a launch target.

Because the daily volume is small compared with the circulating supply, trades of any size can move the price, and exiting a large position may cost more than expected. Anyone using a decentralized exchange should check the pool depth and the quoted slippage before confirming a swap. public data does not list centralized exchange availability, so readers should not assume REUSD can be bought on a major exchange.

A few facts stand out in the data. The token reached its high of about $1.18 in September 2025, which is far above a one-dollar peg. It then reached its low of about $0.888 in June 2026. Both are large departures for a stablecoin and show that the peg has not always held tightly.

Public reporting in 2025 also described a security incident affecting one of the lending markets connected to Resupply. Readers who want specifics should look at the project's own post-incident documentation and independent security write-ups rather than rely on a summary here.

The project's stated design is to attract borrowers through emissions aimed at revenue-generating positions, and to fund an insurance pool. Whether that has produced lasting demand is not something public sources can answer. The current market capitalization of about $45.8 million, compared with the broader stablecoin sector, shows that it remains a small player.

The main risks are the following.

• Peg risk: the price has been as low as about $0.888 and as high as about $1.18, so a one-dollar value is not guaranteed.
• Smart contract risk: the protocol relies on several layers of contracts, including lending markets it does not control. A bug in any layer can affect REUSD.
• Collateral and dependency risk: REUSD is backed by positions in other protocols, so problems in those markets, or in the stablecoins deposited there, can pass through.
• Liquidity risk: daily volume of about $125,900 is low, so selling larger amounts may be costly.
• Governance and emissions risk: incentives may change, and yields tied to emissions can fall.
• Regulatory risk: rules on stablecoins vary and are changing in many places.

Nothing here is a recommendation to buy or sell. Anyone considering exposure should read the protocol's own documentation and consider how much they could afford to lose.

Because REUSD is an ordinary Ethereum token, it can be kept in a self-custody wallet. A hardware wallet is the usual choice for larger amounts, since it keeps the private keys offline and requires physical confirmation of each transaction. Write down the recovery phrase on paper, keep it offline, and never type it into a website or share it with anyone.

Before interacting with any DeFi site, double-check that you are on the correct address, and confirm the REUSD contract address from the project's official channels. Fake tokens with similar names are common. Review each approval request in the wallet, and revoke token approvals you no longer need.

For day-to-day use, consider a separate wallet holding only the amount you plan to trade or lend, with the bulk of your holdings in a hardware-secured wallet. Test with a small transfer first, and keep some ETH available for gas.