# PUSD — Push USD

> Par-backed USD stablecoin on Push Chain, plus PUSD+ — its yield-bearing
> companion. PUSD is a 6-decimal ERC-20 minted by depositing USDC/USDT
> from any supported chain (Ethereum, Base, Arbitrum, Solana, BNB) and
> redeemed back to any reserve token. PUSD+ is a 6-decimal NAV-bearing
> ERC-20 backed by PUSD plus LP fees from Uniswap V3 stable pools on
> Push Chain. Live on Push Chain Donut Testnet (chain ID 42101).
>
> This file is served at https://pusd.push.org/llms.txt and is the
> agent entry point for everything PUSD: integration, contracts,
> design.

## I want to integrate PUSD or PUSD+

Read the Skill — it's the single, self-contained integration guide.
Mint and redeem code for both off-chain SDK paths and on-chain
Solidity, plus addresses, fees, ABI fragments, and gotchas:

- **Skill (markdown):** https://pusd.push.org/agents/skill/push-pusd/SKILL.md
- **Human-rendered version:** https://pusd.push.org/docs#developer

## Live deployment (Donut Testnet)

| Field          | Value                                        |
| -------------- | -------------------------------------------- |
| Chain          | Push Chain Donut Testnet (chain ID 42101)    |
| RPC            | `https://evm.donut.rpc.push.org/`            |
| Explorer       | `https://donut.push.network`                 |
| PUSD           | `0x488d080e16386379561a47A4955D22001d8A9D89` |
| PUSDManager    | `0x7A24Eea43a1095e9Dc652AB9Cba156a93Ed5Ed46` |
| PUSDPlusVault  | `0xb55a5B36d82D3B7f18Afe42F390De565080A49a1` |
| InsuranceFund  | `0xFF7E741621ad5d39015759E3d606A631Fa319a62` |

Always interact with the **proxy** addresses. Implementations change
on upgrade; the proxies do not.

## Two products, one entry point

- **PUSD** — par-backed stablecoin. `PUSDManager.deposit(...)` to mint,
  `PUSDManager.redeem(...)` to burn back to any reserve token.
- **PUSD+** — yield-bearing companion. `PUSDManager.depositToPlus(...)`
  to mint (accepts PUSD or any reserve), `PUSDManager.redeemFromPlus(...)`
  to burn. PUSD+ is a custom 6-decimal ERC-20 with NAV-per-share — quote
  via `PUSDPlusVault.previewMintPlus / previewBurnPlus`. Not ERC-4626.

Both products go through the same `PUSDManager` entrypoint contract.
PUSDPlusVault is the NAV-bearing token; InsuranceFund is a passive
sidecar that receives a haircut on harvested LP fees.

> **v2.1 (2026-05-06)** — `depositToPlus` direct path now sends reserves
> directly to the vault (no PUSD round-trip). Wrap path basket-redeems
> caller's PUSD into vault inventory. User-facing API unchanged. The
> vault accumulates diverse reserve inventory organically, unblocking
> stable/stable LP. `PUSDPlusVault.rebalance()` is now permissionless
> after a 1h cooldown (KEEPER bypasses), decentralizing liveness.

## The two integration paths (the architectural fact every integrator needs)

PUSD writes go through `pushChainClient.universal.sendTransaction(...)`.
The shape of the payload depends on the wallet that signed in:

- **Path A · External-chain wallet** (MetaMask on Sepolia, Phantom on
  Solana, etc.) — the user gets a relay-managed account on Donut that
  supports multicall. Mint = approve + deposit batched in one signed
  multicall. Optional `funds` param bridges the reserve into the
  user's Push Chain account first.
- **Path B · Native Push EOA** (Push Wallet, or any private key
  signing directly against the Donut RPC) — vanilla EVM EOA, no
  multicall. Mint takes two separate signatures.

**Redeem is one signed call on either path.** `PUSDManager` holds
`BURNER_ROLE` on PUSD and burns `msg.sender` directly — no PUSD
approval is required.

Full code for each path lives in the Skill.

## How to use this with your AI coding tool

```
Read https://pusd.push.org/agents/skill/push-pusd/SKILL.md and
integrate PUSD mint + redeem into my dApp.
```

That's the whole prompt. The Skill is self-contained: every address,
every code path, every gotcha lives inside it.

## Source code

The full source — frontend, contracts, design docs, deploy scripts —
lives in the open-source repo. Use it when you need to read the actual
contracts, modify the dApp, or deploy your own instance:

- **Repo:** https://github.com/pushchain/push-chain-pusd
- **Solidity:** https://github.com/pushchain/push-chain-pusd/tree/main/contracts/src
- **React app:** https://github.com/pushchain/push-chain-pusd/tree/main/app
- **Design docs and ADRs:** https://github.com/pushchain/push-chain-pusd/tree/main/docs

## When the Skill and the Solidity disagree

The Solidity in `contracts/src/` is ground truth. Then tests in
`contracts/test/`. The Skill is downstream of those — file an issue
on the repo if you find drift.