Plume USD (pUSD) stablecoin analytics
Answer First
What is Plume USD (pUSD)?
pUSD wraps USDC 1:1 in Plume-managed Nucleus BoringVaults, with no protocol mint/redemption fees; cross-chain redemption can remain pending for up to 12 hours. The static profile records its US Dollar peg mechanism as: Mint/redeem at 1:1 for USDC on Ethereum or Plume with no protocol fees. Cross-chain redemption can take up to 12 hours; the issuer documents a predicate-proxy mint gateway with off-chain compliance checks.
Is pUSD safe?
Pharos does not assess pUSD as safe: it holds a D Safety Score grade (43/100) in the latest published rating, which flags significant structural risk. Static metadata says Plume USD uses a Centralized (CeFi) governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Plume USD (pUSD) static profile: governance model Centralized (CeFi); backing model Crypto-Collateralized; peg US Dollar.
Variant Relationship
Plume USD (pUSD) is modeled as a pure wrapper variant of USD Coin (USDC). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
AI summary / Updated Sep 7, 2026
Plume's pUSD takes USDC, routes it through a Nucleus BoringVault with OFAC compliance checks, and issues a wrapped token on Ethereum and Plume Chain, adding smart contract risk, custody abstraction, and a new trust layer to an asset that was already perfectly functional. The N/A overall grade has recovered as exit liquidity moved from outright failing to merely thin, and the exit pillar is still the weakest of the three.
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
- Collateral
- 1:1 backed by USDC deposited into a Nucleus BoringVault
- Peg Mechanism
- Mint/redeem at 1:1 for USDC on Ethereum or Plume with no protocol fees. Cross-chain redemption can take up to 12 hours; the issuer documents a predicate-proxy mint gateway with off-chain compliance checks.
- Jurisdiction
- Marshall Islands
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
Next Actions
Exact bot target: /subscribe dews,depeg,safety pusd-plume
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
pUSD quick answers
What is Plume USD (pUSD)?
pUSD wraps USDC 1:1 in Plume-managed Nucleus BoringVaults, with no protocol mint/redemption fees; cross-chain redemption can remain pending for up to 12 hours. The static profile records its US Dollar peg mechanism as: Mint/redeem at 1:1 for USDC on Ethereum or Plume with no protocol fees. Cross-chain redemption can take up to 12 hours; the issuer documents a predicate-proxy mint gateway with off-chain compliance checks.
Is pUSD safe?
Pharos does not assess pUSD as safe: it holds a D Safety Score grade (43/100) in the latest published rating, which flags significant structural risk. Static metadata says Plume USD uses a Centralized (CeFi) governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs pUSD?
Pharos classifies pUSD backing as Crypto-Collateralized. Collateral, per the static profile: 1:1 backed by USDC deposited into a Nucleus BoringVault Reserve evidence: live reserve feed configured.
Can pUSD be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for pUSD, when applicable, appear in the dossier below.
