Hermetica USDh (USDh) stablecoin analytics
USDh is Hermetica's BTC-backed synthetic dollar on Stacks, kept near $1 by pairing spot BTC long with equal-size short BTC perpetual futures positions on CEXes.
Static Profile
Static stablecoin profile
Hermetica USDh (USDh) static profile: governance model Centralized (CeFi); backing model Crypto-Collateralized; peg US Dollar.
AI summary / Updated May 15, 2026
Hermetica's USDh is the Ethena playbook on Bitcoin-native infrastructure: a basis-trade delta-neutral synthetic dollar deployed on Stacks L2 with a Runes variant on Bitcoin L1. Hermetica brings the Ethena playbook to Bitcoin-native infrastructure: BTC spot plus short perpetual...
AI summary · drafted by claude-opus-4-7 · reviewed by @TokenBrice on May 15, 2026 · facts as of May 15, 2026
- Collateral
- BTC spot holdings paired with equal short BTC perpetual futures positions on centralized exchanges, creating a delta-neutral synthetic dollar position; BTC margin reserves custodied off-exchange via Copper (Clearloop) and Ceffu (MirrorX) institutional settlement providers, with monthly custodian attestations of assets, liabilities and reserve coverage
- Peg Mechanism
- Delta-neutral hedging: BTC spot long + equal BTC short perpetual futures neutralize directional exposure; mint and redeem via KYC-gated Hermetica app; DIA oracle provides reserve-backed fair value pricing on Stacks
- Jurisdiction
- Panama
- Proof Of Reserves
- Self-Reported PoR by Hermetica custodian attestations Reserve source
- Contracts
- 1 deployment tracked across Stacks.
Snippet Answer
Is USDh safe?
Pharos does not mark USDh as absolutely safe. Static metadata says Hermetica USDh uses a Centralized (CeFi) governance model and Crypto-Collateralized backing, with Self-Reported PoR from Hermetica custodian attestations; 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.
Next Actions
Exact bot target: /subscribe dews,depeg,safety usdh-hermetica
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 May 15, 2026.
USDh quick answers
What is Hermetica USDh (USDh)?
USDh is Hermetica's BTC-backed synthetic dollar on Stacks, kept near $1 by pairing spot BTC long with equal-size short BTC perpetual futures positions on CEXes. The static profile records its US Dollar peg mechanism as: Delta-neutral hedging: BTC spot long + equal BTC short perpetual futures neutralize directional exposure; mint and redeem via KYC-gated Hermetica app; DIA oracle provides reserve-backed fair value pricing on Stacks
What backs USDh?
Pharos classifies USDh backing as Crypto-Collateralized. Collateral, per the static profile: BTC spot holdings paired with equal short BTC perpetual futures positions on centralized exchanges, creating a delta-neutral synthetic dollar position; BTC margin reserves custodied off-exchange via Copper (Clearloop) and Ceffu (MirrorX)... Reserve evidence: Self-Reported PoR from Hermetica custodian attestations.
Can USDh 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 USDh, when applicable, appear in the dossier below.