Cygnus Finance Global USD

Hold cgUSD and the balance in your wallet grows a little on every New York banking day. Cygnus Finance issues it on Base as an interest-bearing dollar backed by short-term US Treasury bills alongside onchain stablecoins, and it passes the Treasury yield straight to holders by rebasing supply upward as interest accrues. The peg is anchored to the value of a dollar, and Cygnus commits to redeeming cgUSD for USDC at one-to-one, charging a small fee on the way out. Because it is a DeFi protocol rather than a licensed issuer, there is no stablecoin charter behind it, only its own terms of use and onchain proof of the reserve. A wrapped version, wcgUSD, holds a fixed balance and lets the price climb instead, which suits protocols that struggle with rebasing tokens.