The thUSD genesis program is an early access window for participants to commit capital ahead of thUSD's full launch. Deposits are accepted in USDC and thBILL on Ethereum, Arbitrum, and Stable. The Genesis Vault is powered by Concrete.
How It Works
Connect your wallet at thusd.theo.xyz
Deposit thBILL or USDC into the Genesis Vault on Ethereum, Arbitrum or Stable
Receive thUSD (or staked thUSD) equal to the USD value of your deposit plus all yield accrued during the period.
How You Earn Yield
Your deposited capital is put to work through a delta-neutral gold strategy. It goes long gold via thGOLD, our yield-bearing tokenized gold product, while simultaneously shorting gold futures on the CME. This hedges price exposure and captures two yield streams:
1. Gold Lending Yield: thGOLD lends physical gold to established retailers who pay interest on it, operated by FundBridge Capital with Libeara infrastructure and a 20% first-loss buffer.
2. Gold Futures Basis: Gold futures consistently trade above spot. By going long spot and short futures, the strategy captures that spread, a structural feature of commodity markets, not a DeFi rate that compresses to zero.
That yield accrues to your position once your capital is locked and deployed into the strategy and is reflected in the thUSD you receive at the end. Deposits are also backed by a diversified reserve, including thBILL and a digital assets delta-neutral position, managed alongside the gold carry strategy. In an internal strategy run throughout 2025, thUSD generated approximately 8.3% annualized. Actual returns will vary based on market conditions and are not guaranteed.
