Stable Value. Native Yield. Backed by Bitcoin
USDO is a delta neutral, yield-bearing stablecoin powered by Bitcoin derivatives. No fiat required.
Built with Bitcoin
USDO is created using Bitcoin derivatives, so it’s backed by the most scarce, secure, decentralized, and liquid collateral in the crypto ecosystem. And it can be held and transferred across various Bitcoin L2s.
Price Stable
Our delta-neutral hedging strategy allows users to hold Bitcoin-backed USDO that are stable in dollar terms and aren’t exposed to the price fluctuations of BTC. 
Yield-Bearing
USDO holders automatically earn yield based on the funding rate in derivatives markets. Allow your money to work for you.
Open and Global
USDO uses Bitcoin as collateral and hedges positions across a variety of global derivatives exchanges. As a result, it’s not reliant on the fiat system of any singular jurisdiction and can offer open, global access to participants. 
Live APY
How It Works
#01
Deposit
Users deposit BTC directly to one of our custody providers. We strictly operate with best-in-class, institutional-grade custodians and utilize off-exchange settlement for ultimate security.
#02
Hedge
OpenDelta takes the deposited BTC and hedges it across a number of different exchanges. 
#03
Mint
Once the BTC has been hedged, OpenDelta tokenizes the delta neutral positions and mints these stablecoins to the depositor as USDO. 
#04
Earn
Users can transact with their USDO, or stake it to earn native yield from the exchange’s funding rate. Staked USDO earns yield daily. 
#05
Redeem
Users can redeem their USDO for BTC directly through OpenDelta. 
For Individuals and Institutions 
Earn, Diversify, and Hedge Your Risk with Full Compliance
OpenDelta offers individuals and institutions the ability to hold stable value and access a yield-bearing savings vehicle that’s Bitcoin-native and doesn’t rely on the fiat banking system. 
Interested in getting access? Contact Us To Get Started
FAQ

Which blockchains are supported?

USDO will be issued on a variety of Bitcoin L2's and base protocols. More details will be announced soon.

Who can mint USDO?

USDO can be minted directly through the OpenDelta platform. In order to register an account, users will have to agree with our Terms of Service and comply with required KYC and AML standards. A secondary market will exist that will allow users to acquire USDO through decentralized exchanges without having to onboard onto the OpenDelta platform.

How do I earn yield with USDO?

In order to earn yield users must stake their USDO on the OpenDelta platform. A secondary portal will exist that enables USDO holders to stake and earn yield on their deposit. Yield will be paid out daily to all staked holders.

How is USDO collateralized?

USDO is collateralized through a delta neutral derivatives position. If you’d like to learn more about how this process works, as well as the risks associated with it, please see our documentation.

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