{"id":"reservoir-srusd","title":"Reservoir srUSD","content":"**Reservoir srUSD** (SRUSD) is a decentralized, yield-bearing [stablecoin](https://iq.wiki/wiki/stablecoin) issued by the [Reservoir](https://iq.wiki/wiki/reservoir) protocol. It is designed as a liquid savings product that allows holders to earn interest on their [stablecoin](https://iq.wiki/wiki/stablecoin) assets without a lock-up period, with yield generated from a diversified portfolio of digital and [real-world assets](https://iq.wiki/wiki/real-world-assets-rwas).\n\n## Overview\n\nReservoir srUSD is a component of the broader [Reservoir](https://iq.wiki/wiki/reservoir) protocol, which aims to establish a scalable and decentralized [stablecoin](https://iq.wiki/wiki/stablecoin) ecosystem. The protocol's mission is to provide a suite of financial products built around its core stablecoin, [rUSD](https://iq.wiki/wiki/reservoir-rusd), offering users consistent yields derived from a diversified balance sheet. The ecosystem is built on the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain) with native integrations on other networks, including [Berachain](https://iq.wiki/wiki/berachain). [\\[1\\]](#cite-id-EBPJppVfk6) [\\[2\\]](#cite-id-1EemqlruNA)\n\nThe [Reservoir](https://iq.wiki/wiki/reservoir) protocol's product suite includes several interconnected assets. The primary [stablecoin](https://iq.wiki/wiki/stablecoin) is [rUSD](https://iq.wiki/wiki/reservoir-rusd), which users can mint against various forms of [collateral](https://iq.wiki/wiki/collateral). srUSD (Savings rUSD) functions as the protocol's main [liquid](https://iq.wiki/wiki/liquid) savings vehicle, allowing users to deposit rUSD to earn a variable interest rate. For users seeking different yield structures, the protocol also offers trUSD, a term-based asset for fixed-period deposits. The ecosystem is further supported by [permissionless](https://iq.wiki/wiki/permissionless) lending markets and a protocol token named DAM. The yield for srUSD is generated from the performance of the protocol's underlying assets, which are managed to be of higher quality and lower volatility than those of some competing protocols. [\\[2\\]](#cite-id-1EemqlruNA)\n\nAs of October 18, 2025, the [Reservoir](https://iq.wiki/wiki/reservoir) protocol reported a [Total Value Locked](https://iq.wiki/wiki/tvl) (TVL) of $526 million and an Annual Percentage Yield (APY) of 7.75% for srUSD. The protocol emphasizes features such as multi-collateral backing and instant liquidity for its products. The srUSD token itself is designed to be a flexible financial instrument, providing daily interest accrual while maintaining liquidity for its holders. [\\[3\\]](#cite-id-8Dt7THXtmb)\n\n## History\n\nThe [Reservoir](https://iq.wiki/wiki/reservoir) protocol announced the upcoming launch of srUSD on November 7, 2024, positioning it as a yield-bearing [stablecoin](https://iq.wiki/wiki/stablecoin) with no lock-up requirements. The product officially went live on November 11, 2024. At its launch, srUSD offered a 6% APY and was introduced with an initial supply cap of $25 million, with plans to increase the cap as user demand grew. The launch announcement was attributed to Fortunafi, indicating its role as a potential core development team or parent company behind the protocol. [\\[4\\]](#cite-id-muQOSIaZXn)\n\nA significant development in the protocol's history occurred on September 29, 2025, when [Reservoir](https://iq.wiki/wiki/reservoir) announced a strategic integration with World Liberty Financial. This partnership enabled users to natively mint and redeem the protocol's core stablecoin, [rUSD](https://iq.wiki/wiki/reservoir-rusd), on a 1:1 basis with World Liberty Financial's [USD1](https://iq.wiki/wiki/usd1) [stablecoin](https://iq.wiki/wiki/stablecoin). The feature was made available directly on the Reservoir application, offering slippage-free, cross-chain transactions. In its announcement, the Reservoir team stated, \"Reservoir is one of the first stablecoin protocols to enable this feature for [USD1](https://iq.wiki/wiki/usd1) holders.\" This integration expanded the [collateral](https://iq.wiki/wiki/collateral) base for the Reservoir ecosystem and provided new utility for both rUSD and related assets like srUSD. [\\[5\\]](#cite-id-gk6jxEg4Bg)\n\n## Technology\n\nThe functionality of Reservoir srUSD is supported by several key architectural components and mechanisms within the [Reservoir](https://iq.wiki/wiki/reservoir) protocol. These systems manage minting, redemption, yield generation, and [collateral](https://iq.wiki/wiki/collateral) backing.\n\n### Core Architecture\n\nThe srUSD token is managed by a dedicated component of the protocol known as the Savings Module. This module oversees the processes of minting and redeeming srUSD. Users mint srUSD by depositing the protocol's primary [stablecoin](https://iq.wiki/wiki/stablecoin), rUSD, into the module. The process is designed to be straightforward, allowing for a direct conversion from a non-interest-bearing stablecoin to a yield-bearing one. [\\[6\\]](#cite-id-8dQ63G22rA)\n\nRedemptions of srUSD back to rUSD are designed to be instant, providing users with high liquidity. This immediate fulfillment is contingent on the available liquidity within another core component, the Peg Stability Module (PSM). The PSM is responsible for maintaining the stability of the [rUSD](https://iq.wiki/wiki/reservoir-rusd) peg and facilitates the 1:1 exchange between rUSD and approved [collateral](https://iq.wiki/wiki/collateral) assets, thereby ensuring that sufficient reserves are available for srUSD redemptions. [\\[6\\]](#cite-id-8dQ63G22rA) [\\[5\\]](#cite-id-gk6jxEg4Bg)\n\n### Yield Generation and Collateral\n\nThe yield offered to srUSD holders is generated from the protocol's diversified balance sheet. The assets backing the protocol include a mix of traditional financial instruments and on-chain strategies. The primary sources of yield include:\n\n* U.S. Treasuries\n* Various DeFi yield strategies\n* Algorithmic, market-neutral crypto strategies\n\nThis diversified approach is intended to provide more consistent and stable returns compared to protocols that rely on a single source of yield. The interest rate for srUSD is variable and is actively managed by the protocol's governance. Adjustments to the rate are made based on the overall performance and interest accrued on the protocol's balance sheet. [\\[4\\]](#cite-id-muQOSIaZXn)\n\nThe protocol's stability and value are derived from its multi-collateral backing, which includes a combination of digital assets and [Real World Assets](https://iq.wiki/wiki/real-world-assets-rwas) (RWA). This model aims to reduce volatility and enhance trust. A key component of this strategy is the integration of other stablecoins as direct [collateral](https://iq.wiki/wiki/collateral). For instance, the partnership with World Liberty Financial allows for [rUSD](https://iq.wiki/wiki/reservoir-rusd) to be minted 1:1 with the [USD1](https://iq.wiki/wiki/usd1) [stablecoin](https://iq.wiki/wiki/stablecoin), directly incorporating USD1 into Reservoir's backing assets. [\\[1\\]](#cite-id-EBPJppVfk6) [\\[5\\]](#cite-id-gk6jxEg4Bg)\n\n### srUSD and wsrUSD\n\nIn addition to srUSD, the [Reservoir](https://iq.wiki/wiki/reservoir) protocol offers a wrapped version, wsrUSD. While both tokens are liquid, yield-bearing assets minted from [rUSD](https://iq.wiki/wiki/reservoir-rusd), they have distinct mechanics for interest accrual and fees. The underlying interest rate for both tokens is identical.\n| Feature\n| srUSD\n| wsrUSD\n|\n| --- | --- | --- |\n| **Interest Accrual**\n| Daily\n| Per\n|\n| **Fees**\n| A \"micro burn fee\" on redemption, equal to one day's interest on the principal.\n| No fees for minting or redemption.\n|\n| **Use Case**\n| General savings and holding.\n| Often preferred for DeFi composability due to per-block accrual.\n|\nThe primary differences cater to different user needs. The per-block interest accrual of wsrUSD makes it more suitable for integration with other [DeFi](https://iq.wiki/wiki/defi) protocols where real-time value updates are beneficial. The absence of fees on wsrUSD also makes it more attractive for frequent transactions. [\\[6\\]](#cite-id-8dQ63G22rA)\n\n### Advanced User Strategies\n\nThe [Reservoir](https://iq.wiki/wiki/reservoir) ecosystem is designed to be composable with other DeFi protocols, enabling advanced yield strategies. One such strategy is \"looping,\" which allows users to [leverage](https://iq.wiki/wiki/leverage) their srUSD holdings to amplify their yield. This process involves the [Morpho](https://iq.wiki/wiki/morpho) protocol, a decentralized lending platform on [Ethereum](https://iq.wiki/wiki/ethereum).\n\nThe steps for the looping [strategy](https://iq.wiki/wiki/strategy) are as follows:\n\n1. A user deposits srUSD as [collateral](https://iq.wiki/wiki/collateral) into the Steakhouse rUSD vault on [Morpho](https://iq.wiki/wiki/morpho).\n2. The user then borrows the rUSD [stablecoin](https://iq.wiki/wiki/stablecoin) against their srUSD [collateral](https://iq.wiki/wiki/collateral).\n3. The borrowed rUSD is swapped for more srUSD.\n4. This new srUSD is deposited back into the vault, and the process can be repeated to increase [leverage](https://iq.wiki/wiki/leverage).\n\nThis strategy carries significant risks. The borrowing cost for rUSD on [Morpho](https://iq.wiki/wiki/morpho) is variable and determined by market utilization. If demand for borrowing [rUSD](https://iq.wiki/wiki/reservoir-rusd) becomes extremely high (e.g., utilization surpasses 90%), the borrow rate may exceed the APY earned on srUSD, resulting in a net loss for the user. Users engaging in this strategy are advised to monitor their \"health score\" on the [Morpho](https://iq.wiki/wiki/morpho) platform to manage their risk of [liquidation](https://iq.wiki/wiki/liquidation). [\\[4\\]](#cite-id-muQOSIaZXn)\n\n## Tokenomics\n\nAs of October 20, 2025, the [tokenomics](https://iq.wiki/wiki/tokenomics) and market data for [Reservoir](https://iq.wiki/wiki/reservoir) srUSD (SRUSD) are as follows. The token exists on both the [Ethereum](https://iq.wiki/wiki/ethereum) and [Berachain](https://iq.wiki/wiki/berachain) networks.\n\n* **Ticker:** SRUSD\n* **Blockchains:** [Ethereum](https://iq.wiki/wiki/ethereum), [Berachain](https://iq.wiki/wiki/berachain)\n* **Ethereum Contract Address:** `0x738d1115b90efa71ae468f1287fc864775e23a31`\n* **Berachain Contract Address:** `0x5475611dffb8ef4d697ae39df9395513b6e947d7`\n* **Max Supply:** Infinite (∞)\n\nSRUSD tokens are traded on [decentralized exchanges](https://iq.wiki/wiki/decentralized-exchange), with [Uniswap](https://iq.wiki/wiki/uniswap) V3 ([Ethereum](https://iq.wiki/wiki/ethereum)) being the most popular platform. The most active trading pair is SRUSD/USDC. [\\[1\\]](#cite-id-EBPJppVfk6)\n\n## Ecosystem and Partnerships\n\nThe growth and utility of the [Reservoir](https://iq.wiki/wiki/reservoir) protocol and srUSD are supported by strategic partnerships and integrations within the broader DeFi ecosystem.\n\n* **World Liberty Financial:** This integration is a key partnership that enhances the [collateral](https://iq.wiki/wiki/collateral) backing of the [Reservoir](https://iq.wiki/wiki/reservoir) protocol. It allows users to mint and redeem [rUSD](https://iq.wiki/wiki/reservoir-rusd) directly with the [USD1](https://iq.wiki/wiki/usd1) [stablecoin](https://iq.wiki/wiki/stablecoin) at a 1:1 ratio without [slippage](https://iq.wiki/wiki/slippage). This collaboration, referred to as \"LibertyVoir,\" was one of the first of its kind for the USD1 stablecoin and expanded the cross-chain capabilities of Reservoir. [\\[5\\]](#cite-id-gk6jxEg4Bg)\n* **Morpho:** The [Morpho](https://iq.wiki/wiki/morpho) protocol is a decentralized lending platform on [Ethereum](https://iq.wiki/wiki/ethereum) that plays a crucial role in advanced yield strategies for srUSD holders. By allowing srUSD to be used as [collateral](https://iq.wiki/wiki/collateral), Morpho enables users to borrow other assets and engage in leveraged [yield farming](https://iq.wiki/wiki/yield-farming), such as the \"looping\" strategy. [\\[4\\]](#cite-id-muQOSIaZXn)\n* **Steakhouse:** Steakhouse is the entity that provides the specific rUSD vault on the [Morpho](https://iq.wiki/wiki/morpho) protocol (`0xBeEf11eCb698f4B5378685C05A210bdF71093521`) used for collateralizing srUSD. This specialized vault is the venue where users deposit their srUSD to borrow rUSD as part of the looping strategy. [\\[4\\]](#cite-id-muQOSIaZXn)\n\n## Legal and Security Considerations\n\nThe use of srUSD and other [Reservoir](https://iq.wiki/wiki/reservoir) protocol products is subject to certain restrictions. Access is limited to non-U.S. users and individuals in non-sanctioned countries. This compliance measure is common among DeFi protocols to navigate complex regulatory environments. [\\[6\\]](#cite-id-8dQ63G22rA)\n\nA security notice from the [GoPlus](https://iq.wiki/wiki/goplus) platform has highlighted potential risks associated with the srUSD smart contract. According to the notice, the token contract creator possesses privileges that could allow for modifications to the contract's functions. These potential changes include the ability to disable sales, alter transaction fees, mint new tokens, or transfer tokens from user wallets. Users are advised to exercise caution and be aware of these centralized risks when interacting with the token. [\\[1\\]](#cite-id-EBPJppVfk6)","summary":"Reservoir srUSD is a decentralized, yield-bearing stablecoin from the Reservoir protocol. Backed by digital and real-world assets, it operates on Ethereum and Berachain, offering users liquid yield on their stablecoin holdings without lock-up periods.","images":[{"id":"QmNSo1Rg9iKnYYyyKPeuCyAcAVZ6BNWKLuXjipDuttFXtz","type":"image/jpeg, image/png"}],"categories":[{"id":"defi","title":"defi"}],"tags":[{"id":"Stablecoins"},{"id":"Developers"},{"id":"Ethereum"},{"id":"Protocols"},{"id":"Organizations"}],"media":[{"id":"QmTm3egweqy7gYU2zgN1vQUukdsWa2GgAxKyvcJPMSPpXm","name":"Cópia de Design sem nome.png","caption":"","thumbnail":"QmTm3egweqy7gYU2zgN1vQUukdsWa2GgAxKyvcJPMSPpXm","source":"IPFS_IMG"}],"metadata":[{"id":"references","value":"[\n  {\n    \"id\": \"EBPJppVfk6\",\n    \"url\": \"https://www.coingecko.com/en/coins/reservoir-srusd\",\n    \"description\": \"CoinGecko srUSD market data\",\n    \"timestamp\": 1760953974518\n  },\n  {\n    \"id\": \"1EemqlruNA\",\n    \"url\": \"https://docs.reservoir.xyz/\",\n    \"description\": \"Reservoir Protocol documentation overview\",\n    \"timestamp\": 1760953974518\n  },\n  {\n    \"id\": \"8Dt7THXtmb\",\n    \"url\": \"https://www.reservoir.xyz/\",\n    \"description\": \"Reservoir protocol official website\",\n    \"timestamp\": 1760953974518\n  },\n  {\n    \"id\": \"muQOSIaZXn\",\n    \"url\": \"https://reservoir.beehiiv.com/p/srusd-live\",\n    \"description\": \"srUSD launch announcement\",\n    \"timestamp\": 1760953974518\n  },\n  {\n    \"id\": \"gk6jxEg4Bg\",\n    \"url\": \"https://x.com/reservoir\\\\_xyz/status/1972647745292001693\",\n    \"description\": \"Reservoir and World Liberty Financial integration announcement\",\n    \"timestamp\": 1760953974522\n  },\n  {\n    \"id\": \"8dQ63G22rA\",\n    \"url\": \"https://docs.reservoir.xyz/products/savings-srusd-and-wsrusd\",\n    \"description\": \"srUSD and wsrUSD product documentation\",\n    \"timestamp\": 1760953974522\n  },\n  {\n    \"id\": \"event-reservoir-srusd-launch-link\",\n    \"description\": \"Event link\",\n    \"url\": \"https://reservoir.beehiiv.com/p/srusd-live\",\n    \"timestamp\": 1760953975856\n  },\n  {\n    \"id\": \"event-srusd-all-time-low-price-link\",\n    \"description\": \"Event link\",\n    \"url\": \"https://www.coingecko.com/en/coins/reservoir-srusd\",\n    \"timestamp\": 1760953975856\n  },\n  {\n    \"id\": \"event-srusd-all-time-high-price-link\",\n    \"description\": \"Event link\",\n    \"url\": \"https://www.coingecko.com/en/coins/reservoir-srusd\",\n    \"timestamp\": 1760953975856\n  },\n  {\n    \"id\": \"event-reservoir-integrates-usd1-link\",\n    \"description\": \"Event link\",\n    \"url\": \"https://x.com/reservoir_xyz/status/1972647745292001693\",\n    \"timestamp\": 1760953975857\n  }\n]"},{"id":"website","value":"https://www.reservoir.xyz/"},{"id":"twitter_profile","value":"https://x.com/reservoir_xyz"},{"id":"discord_profile","value":"https://discord.com/invite/reservoir"},{"id":"github_profile","value":"https://github.com/reservoir-protocol"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/reservoir-srusd"},{"id":"medium_profile","value":"https://reservoir.beehiiv.com/"},{"id":"references","value":"https://docs.reservoir.xyz/"},{"id":"contract_url","value":"https://etherscan.io/token/0x738d1115b90efa71ae468f1287fc864775e23a31"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/Qme6cMbz7EtDi8KD2LbEJpXd7oA9wXqYSCc9UrqsbGtx3K\""},{"id":"commit-message","value":"\"feat: Add anonymous founder \\\"anon\\\"\""},{"id":"previous_cid","value":"Qme6cMbz7EtDi8KD2LbEJpXd7oA9wXqYSCc9UrqsbGtx3K"}],"events":[{"id":"e658ffa5-282a-40dc-ac2a-fcb92ec762c3","date":"2024-11","title":"Reservoir srUSD Launch","type":"CREATED","description":"Reservoir srUSD launched as a yield-bearing stablecoin with no lock-up, offering a 6% APY at launch and an initial supply cap of $25 million.","link":"https://reservoir.beehiiv.com/p/srusd-live","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"14847739-0145-4753-8187-8a624813c4ac","date":"2025-03","title":"srUSD All-Time Low Price","type":"DEFAULT","description":"The price of srUSD reached an all-time low of $0.0000000001054.","link":"https://www.coingecko.com/en/coins/reservoir-srusd","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"883a9a25-6576-41c6-a41e-1eb11a8e2536","date":"2025-07","title":"srUSD All-Time High Price","type":"DEFAULT","description":"The price of srUSD reached an all-time high of $1.30.","link":"https://www.coingecko.com/en/coins/reservoir-srusd","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null},{"id":"f60b440b-39b9-4ee9-afab-f35eff16c14a","date":"2025-09","title":"Reservoir Integrates USD1","type":"DEFAULT","description":"The Reservoir protocol integrated with World Liberty Financial, allowing native 1:1 minting and redemption of its rUSD stablecoin with USD1.","link":"https://x.com/reservoir_xyz/status/1972647745292001693","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"operator":{"id":"0xd5893989b9952c6568a99F854795AcC5Ae480D56"},"language":"en","version":1,"linkedWikis":{"blockchains":["ethereum","berachain"],"founders":["anon"],"speakers":[]}}