Resupply USD

Built by contributors from Convex Finance and Yearn, Resupply mints REUSD against yield-bearing stablecoin collateral rather than cash in a bank. No company stands behind it: the token is an onchain claim, created and redeemed entirely through the protocol's smart contracts and governed by holders of the RSUP token. Anyone can open a position, borrow REUSD against deposited collateral, and stake it to earn the protocol's yield. That permissionless design also carries permissionless risk. In June 2025 an attacker used a donation-style manipulation of a thinly traded collateral market to borrow roughly 9.5 million dollars of REUSD against almost nothing, exploiting a rounding flaw in the exchange-rate math. The protocol continues to operate on Ethereum, but the episode is a reminder that a decentralized dollar leans on the soundness of its code, not on a regulator or a custodian.