Resolv USR (USR) is a crypto-native stablecoin backed by Ethereum (ETH) and pegged to the US Dollar. It utilizes a delta-neutral architecture that maintains price stability while generating yield through market-based mechanisms. ^{[1] [2] [5]}

Overview

Developed by Resolv Labs, USR addresses volatility concerns in the cryptocurrency market while providing yield opportunities. The protocol employs a True-Delta Neutral Architecture that balances long and short positions to hedge market exposure. This design enables USR to maintain its dollar peg independently of ETH price fluctuations and generate yield from the basis trade, the price difference between spot and futures markets. The approach is supported by a transparent framework, including a public dashboard that displays real-time collateral data. ^{[1] [2] [3] [5] [11] [12]}

History

Resolv Labs initiated the development of USR with the creation of a minimal viable product (MVP) developed within a short timeframe by a small team. The project quickly moved from initial testing to securing its first private deposits, leading to measurable growth in Total Value Locked (TVL). Early adoption milestones include an initial TVL of approximately $1 million, with subsequent increases recorded at $15 million, $30 million, and $111 million within the private beta phase. ^{[1] [2] [4]}

Technology

Resolv USR is founded on blockchain protocols aiming to ensure security, scalability, and interoperability. Technical documentation, as presented in the litepaper, outlines the use of cryptographic methods and consensus mechanisms designed to preserve network integrity and facilitate efficient transaction processing. The underlying infrastructure supports a range of decentralized applications (dApps), enabling interaction among various network participants. The development process is characterized by continuous research and technical adjustments to align with current standards.

The core of USR’s design is its True-Delta Neutral Architecture, which consists of two main components:

• Collateral Layer: USR is primarily backed by Ethereum (ETH) held in on-chain treasuries and with regulated custodians such as Fireblocks and Ceffu.
• Hedging Layer: To offset market exposure from the ETH collateral, the protocol establishes corresponding short positions in perpetual futures contracts on centralized exchanges, including Binance, Deribit, and Hyperliquid.

This system is structured to ensure that increases or decreases in ETH prices are counterbalanced, thereby preserving the stablecoin’s peg. Yield is generated by capturing the funding rate from traders who maintain long positions on these futures contracts. ^{[1] [2] [3] [5] [7] [9]}

Use Cases

USR is utilized within an ecosystem that integrates decentralized finance (DeFi), digital asset management, and governance systems. Its primary applications include:

1. Transactions and Payments: Facilitating the transfer of value in both internal and external transactions.
2. Governance: Enabling token holders to participate in structured decision-making processes.
3. Incentivization: Providing a framework for rewarding contributions that support network development and maintenance.

The token's performance is monitored on various cryptocurrency tracking platforms that provide data on market capitalization, trading volume, and price movements. Communication regarding the project is disseminated through channels such as social media, professional networks like LinkedIn, and content platforms including Medium and Substack. These channels deliver updates on project milestones and technical developments.

Products

• USR Stablecoin: The primary product maintains a 1:1 peg with the US Dollar through the delta-neutral model. USR is minted by depositing ETH, which is then used as collateral while establishing offsetting short positions.
• stUSR (Staked USR): This variant is a yield-bearing token that automatically compounds returns generated from the basis trade. stUSR increases in value over time relative to USR as it accrues yield. ^{[1] [2] [5] [6] [13]}

Partnerships

Resolv Labs has established multiple partnerships to enhance the functionality and security of the USR stablecoin:

• Deribit: Collaboration enables the protocol to maintain futures positions while managing collateral on-chain through secure off-exchange solutions.
• Fireblocks: Provides secure custody solutions for assets maintained off-chain.
• Superstate: The integration with Superstate includes the incorporation of stUSR into a crypto carry fund (USCC) and the use of externally managed collateral for USR.
• Hypernative: Partnership for continuous threat monitoring and automated security responses.
• Immunefi: Launch of a bug bounty program offering rewards for vulnerability identification.
• Superstate Industry Council (SIC): Membership in the council supports collaborative efforts toward tokenization and innovation across financial markets. ^{[1] [2] [3] [4] [5] [8] [10]}

Team

Resolv Labs was founded by a team with backgrounds in traditional finance and technology:

• Fedor Chmilev: Co-Founder with previous experience at Revolut, focusing on technology in finance.
• Ivan Kozlov: Co-Founder at Resolv Labs.
• Tim Shekikhachev: Co-Founder at Resolv Labs. ^{[1] [2] [3]}

Developments

Resolv Labs Raises $10M as Crypto Investor

Resolv Labs, the firm behind Resolv closed a $10 million seed round to expand its crypto-native yield platform and USR stablecoin.

The investment round was led by Cyber.Fund and Maven11, with additional backing from Coinbase Ventures, SCB Limited, Arrington Capital, Gumi Cryptos, NoLimit Holdings, Robot Ventures, Animoca Ventures and others. ^[14]