{"id":"lift-dollar","title":"Lift Dollar","content":"**Lift Dollar (USDL)** is a [stablecoin](https://iq.wiki/wiki/stablecoin) designed to provide users access to US dollars while also earning yield. It operates on the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain) and is backed by reserves held in US dollars and cash equivalents.\n\n## Overview\n\nLift Dollar (USDL) is a [stablecoin](https://iq.wiki/wiki/stablecoin) issued by Paxos International, a subsidiary of Paxos Holding, and regulated by the Financial Services Regulatory Authority (FSRA) in Abu Dhabi Global Market (ADGM). It aims to provide a safe way to earn yield on US dollars. USDL is structured to maintain a 1:1 peg with the U.S. dollar, backed by short-term U.S. government securities and cash equivalents. The assets are held remotely from potential bankruptcy situations under the oversight of a prudential regulator.\n\nUSDL distributes yield to eligible wallet addresses daily through an [Ethereum](https://iq.wiki/wiki/ethereum) [smart contract](https://iq.wiki/wiki/smart-contract), using a mechanism called rebasing. The yield is derived from the returns generated by the reserves, which include US dollar deposits, US Treasuries, and other cash equivalents.\n\nLift Dollar is not available to residents of the United States and certain other countries due to regulatory considerations. The [stablecoin](https://iq.wiki/wiki/stablecoin) is designed to target individuals and entities globally who may be unbanked or underbanked and lack access to US dollar-based financial services. [[1]](#cite-id-ccN8YWFqmR) [[2]](#cite-id-sqTuDLARw7) [[3]](#cite-id-cSeeTfI0Z0) [[4]](#cite-id-4XkK4Z3Bl9) [[12]](#cite-id-zNV0cDy2TR)\n\n## History\n\nLift Dollar (USDL) [stablecoin](https://iq.wiki/wiki/stablecoin) was launched by Paxos International, a UAE-based entity of Paxos, in June 2024. The launch was aimed at providing access to US dollars with yield for users outside the United States and other restricted jurisdictions. At launch, USDL was particularly focused on Argentina, where it was made available through distribution partners Ripio, Buenbit, and TiendaCrypto.\n\nIn October 2024, Lift Dollar expanded its presence by launching on the [Arbitrum](https://iq.wiki/wiki/arbitrum) network, enhancing its accessibility and scalability. This move allows users to benefit from lower transaction fees and faster transaction times, further broadening the reach of USDL. [[5]](#cite-id-jqdUHbjwXB) [[1]](#cite-id-IgWQsJUWfq) [[2]](#cite-id-rIU4ESjHR5) [[3]](#cite-id-CNHDtX1y6C)\n\n## Technology\n\nUSDL operates as an [ERC-20](https://iq.wiki/wiki/erc-20) token on the [Ethereum](https://iq.wiki/wiki/ethereum) [blockchain](https://iq.wiki/wiki/blockchain). The distribution of yield is facilitated by an Ethereum [smart contract](https://iq.wiki/wiki/smart-contract), which programmatically allocates the yield generated from the [stablecoin's](https://iq.wiki/wiki/stablecoin) reserves to eligible [wallet](https://iq.wiki/wiki/cryptocurrency-wallet) addresses on a daily basis. The reserves backing USDL are held in US dollar deposits, US Treasuries, and other cash equivalents. [[1]](#cite-id-ccN8YWFqmR) [[2]](#cite-id-sqTuDLARw7) [[4]](#cite-id-4XkK4Z3Bl9) [[11]](#cite-id-ydjPWeSGJ2)","summary":"Lift Dollar (USDL) is a yield-generating stablecoin issued by Paxos International, pegged 1:1 to the U.S. dollar. It distributes yield derived from reserves to holders and is regulated by the FSRA in Abu Dhabi Global Market (ADGM).","images":[{"id":"QmRsBXbCncx2E2vg3x478sPSyjYd6rmuASxWzV1CoyGkuq","type":"image/jpeg, image/png"}],"categories":[{"id":"cryptocurrencies","title":"cryptocurrencies"}],"tags":[{"id":"Stablecoins"},{"id":"Ethereum"},{"id":"Protocols"}],"media":[{"id":"QmeCfqaPuSivGcXT7woL1BTYHavjB3mkQnqwbbEhnz8HHp","name":"xuXlwIpLlF7o3fE0kfgJTNX9mQ.webp","caption":"","thumbnail":"QmeCfqaPuSivGcXT7woL1BTYHavjB3mkQnqwbbEhnz8HHp","source":"IPFS_IMG"},{"id":"QmecQMW7jFJoMZSPVvpevPqMHNJVi8Z1K9oJ44uzSu2Rmz","name":"images.jpeg","caption":"","thumbnail":"QmecQMW7jFJoMZSPVvpevPqMHNJVi8Z1K9oJ44uzSu2Rmz","source":"IPFS_IMG"},{"id":"QmYdRq87saYeYE23rDo6MzveecKKE88LDsMSMhJgTS7JQc","name":"AKo-0MAZ_400x400.jpg","caption":"","thumbnail":"QmYdRq87saYeYE23rDo6MzveecKKE88LDsMSMhJgTS7JQc","source":"IPFS_IMG"},{"id":"Qmcift2CrW1xmNRKpqF5hjiAn7qWcgqWAgTUw86jizMXZp","name":"32454.png","caption":"","thumbnail":"Qmcift2CrW1xmNRKpqF5hjiAn7qWcgqWAgTUw86jizMXZp","source":"IPFS_IMG"}],"metadata":[{"id":"website","value":"https://liftdollar.com/"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/lift-dollar/"},{"id":"etherscan","value":"https://etherscan.io/token/0xbdC7c08592Ee4aa51D06C27Ee23D5087D65aDbcD"},{"id":"arbiscan","value":"https://arbiscan.io/address/0x7f850b0ab1988dd17b69ac564c1e2857949e4dee"},{"id":"linkedin_profile","value":"https://www.linkedin.com/company/lift-dollar-usdl/"},{"id":"github_profile","value":"https://github.com/paxosglobal/ybs-contract"},{"id":"references","value":"[{\"id\":\"IgWQsJUWfq\",\"url\":\"https://www.coindesk.com/business/2024/06/05/paxos-unveils-yield-generating-stablecoin-lift-dollar\",\"description\":\"CoinDesk article on Lift Dollar launch\",\"timestamp\":1747252449359},{\"id\":\"rIU4ESjHR5\",\"url\":\"https://cryptobriefing.com/paxos-lift-dollar-yield/\",\"description\":\"Crypto Briefing article on Lift Dollar\",\"timestamp\":1747252449359},{\"id\":\"CNHDtX1y6C\",\"url\":\"https://liftdollar.com/legal/terms-and-conditions\",\"description\":\"Lift Dollar Terms and Conditions\",\"timestamp\":1747252449359},{\"id\":\"8fxeDyW9vE\",\"url\":\"https://coinmarketcap.com/currencies/lift-dollar/\",\"description\":\"CoinMarketCap data on Lift Dollar\",\"timestamp\":1747252449359},{\"id\":\"xBqI2eNlUe\",\"url\":\"https://www.coingecko.com/en/coins/lift-dollar\",\"description\":\"CoinGecko data on Lift Dollar\",\"timestamp\":1747252449359},{\"id\":\"ccN8YWFqmR\",\"url\":\"https://www.paxos.com/blog/paxos-international-to-issue-lift-dollar-usdl\",\"description\":\"Paxos blog post announcing Lift Dollar\",\"timestamp\":1747253323328},{\"id\":\"sqTuDLARw7\",\"url\":\"https://www.coindesk.com/markets/2024/06/11/paxos-to-offer-usdl-yield-bearing-stablecoin-outside-the-us/\",\"description\":\"CoinDesk article on Paxos offering USDL\",\"timestamp\":1747253323328},{\"id\":\"cSeeTfI0Z0\",\"url\":\"https://blockworks.co/news/paxos-international-lift-dollar\",\"description\":\"Blockworks article about Paxos International's Lift Dollar\",\"timestamp\":1747253323328},{\"id\":\"4XkK4Z3Bl9\",\"url\":\"https://www.reuters.com/markets/digital-assets/paxos-offer-yield-bearing-stablecoin-outside-us-2024-06-11/\",\"description\":\"Reuters article on Paxos offering yield-bearing stablecoin\",\"timestamp\":1747253323328},{\"id\":\"jqdUHbjwXB\",\"url\":\"https://www.paxos.com/newsroom/yield-bearing-stablecoin-lift-dollar-usdl-launches-on-arbitrum/\",\"description\":\"Paxos press release about USDL launching on Arbitrum\",\"timestamp\":1747253323328},{\"id\":\"ydjPWeSGJ2\",\"description\":\"Github: Lift Dollar\",\"timestamp\":1747253416971,\"url\":\"https://github.com/paxosglobal/ybs-contract\"},{\"id\":\"zNV0cDy2TR\",\"description\":\"LinkedIn: Lift Dollar\",\"timestamp\":1747253431787,\"url\":\"https://www.linkedin.com/company/lift-dollar-usdl/\"}]"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/lift-dollar"},{"id":"twitter_profile","value":"https://x.com/liftdollar_usdl"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmWfqscg1RDmxgjid6nMUjZcahcaFWG53XBmDUKNH9bPcv\""},{"id":"commit-message","value":"\"Republished the Lift Dollar wiki with updated history section and references.\""},{"id":"previous_cid","value":"QmWfqscg1RDmxgjid6nMUjZcahcaFWG53XBmDUKNH9bPcv"}],"events":[],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"language":"en","version":1,"linkedWikis":{"blockchains":[],"founders":[],"speakers":[]}}