Confidential

Private dollars.
████████ by default.

vUSD is a fractional-algorithmic stablecoin you can hold and send privately — shield it, and the amount & parties are hidden on-chain. Public when you want it, redacted when you don't.

View roadmap
The Ledger // live demo
FILE NO. vUSD-001SUBJECT: PRIVATE STABLECOINCLASSIFICATION · SHIELDED
USDC (collateral)
—
VEIL (gov)
—
vUSD · public
—
vUSD · private
██████reveal
Protocol readout
vUSD Peg
$—
Collateral Ratio
—
Collateral
—
vUSD Supply
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█ Value Shielded
—
Shielded ledger // recent entries
Declassification schedule // roadmap
PHASE 0
Demo & $VEIL
This interactive proof-of-concept — real privacy primitives (commitments, nullifiers, encrypted notes), simulated peg & ledger. $VEIL launches as the community/gov token.
YOU ARE HERE
PHASE 1
On-chain vUSD (devnet)
Anchor programs: deposit collateral → mint/redeem vUSD, Pyth oracle, a vUSD pool. A real, transparent stablecoin on devnet.
Next
PHASE 2
Peg automation
Algorithmic collateral-ratio control + keeper bots holding the $1 peg via arbitrage.
Planned
PHASE 3
ZK privacy
Trustless shielded transfers via on-chain zero-knowledge proofs (Light Protocol). The redaction becomes real.
Planned
PHASE 4
Audit & mainnet
Professional audits, liquidity, and mainnet launch. Nothing touches real money before it's audited.
Planned
How it works
01

Mint vUSD

Deposit USDC collateral and burn a small VEIL share (fractional-algorithmic) to mint $1-pegged vUSD. Redeem any time to reverse it.

02

Shield it

Move vUSD into the shielded pool — it becomes a note encrypted only to you. Your balance shows as ████ on-chain.

03

Send privately

Transfer shielded vUSD and the amount & both parties are hidden — the ledger records only a nullifier and a new commitment. Private digital cash.

⚠ Disclosure · read me
This is a Phase-0 demo, not a live protocol. The peg, collateral and ledger are simulated off-chain; the privacy primitives are real but the trustless ZK validity proof is simulated on testnet (audited zk-SNARKs come at mainnet). Algorithmic stablecoins are extremely high-risk — most have de-pegged (see UST/Terra). Nothing here holds real value or is financial advice.