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December 4, 2025, Singapore
In a move that could reshape the $170 billion stablecoin market, Aegis Trust Company has officially launched YUSD, the first fully Bitcoin-collateralized stablecoin that automatically distributes yield to holders without staking, farming, or lockups.
Backed by a $2 million pre-seed round led by Dewhales Capital and joined by centralized exchange WOO X, Aegis emerged from stealth today with a product that combines ironclad Bitcoin backing, on-chain transparency, and a built-in delta-neutral yield engine that turns perpetual funding rates into daily payouts.
Key Takeaways
- Earn yield just by holding: No staking, no farming, rewards hit your wallet 3× daily after simple wallet registration.
- Pure Bitcoin backing: 1:1 collateral in BTC, verifiable in real time, zero reliance on banks or fiat reserves.
- Truly independent: No exposure to legacy stablecoins or traditional finance vulnerabilities.
- Backed by serious players: $2M from Dewhales Capital and WOO X signals institutional-grade confidence.
- Built for the future: Designed from day one for cross-chain and modular blockchain environments.
The Genesis of Aegis: From Stealth to Stablecoin Revolution
Founded in 2024 by derivatives traders from top-tier proprietary firms, Aegis spent 18 months in stealth building what its team calls “the first truly fiat-independent stablecoin.”
The company announced a $2 million raise led by Dewhales Capital, a DAO known for early bets on Ethena and Pendle, with participation from Profluent Ventures and high-profile angels from Uniswap, MakerDAO, and Deribit.
“YUSD is the stablecoin we always wanted to use ourselves: backed only by Bitcoin, completely transparent, and actually profitable to hold,” said a Dewhales Capital spokesperson on X.
The protocol is audited by Hacken, incorporated as a foundation, and built natively on Ethereum with planned expansion to modular ecosystems.
How YUSD Works: Bitcoin Collateral + Delta-Neutral Yield Magic
Unlike traditional stablecoins that rely on dollars in bank accounts, every YUSD is backed 1:1 by Bitcoin held at institutional custodians Fireblocks, Copper.co, and CEFFU.
To maintain the USD peg and generate yield, Aegis runs a delta-neutral strategy:
- Users mint YUSD by depositing USDC, USDT, or DAI (converted OTC to BTC).
- The Bitcoin is used as collateral to open short BTC-margined perpetual positions across major exchanges.
- Positive funding rates paid by longs are captured and distributed to YUSD holders three times per day.
- Price volatility is neutralized, leaving only the funding-rate arbitrage as profit.
Crucially, holders earn this yield by simply holding YUSD in any wallet, no staking contracts, no governance tokens, no impermanent loss. Users can register their address on Aegis.im to begin accruing rewards instantly.
Real-time proof-of-reserves, open positions, and yield calculations are published on a public dashboard with read-only API access, allowing anyone to verify collateralization second-by-second.
Why YUSD Is Turning Heads in a Crowded Market
The stablecoin sector has historically offered two choices: fiat-backed opacity (USDT, USDC) or over-collateralized inefficiency (DAI, crvUSD).
YUSD carves a third path:
- 100% Bitcoin collateral (no dollars, no commercial paper)
- Automatic yield (currently tracking similar rates to Ethena’s USDe, but without USDT exposure)
- No lockups, 24/7 redemptions
- Full on-chain transparency
- Insurance fund seeded from yield surpluses for black-swan protection
Early community reaction on X has been electric, with traders calling it “USDe but actually backed” and “the BTC maximalist’s dream stablecoin.”
Conclusion
As regulatory scrutiny on fiat-backed stablecoins intensifies and DeFi users demand real yield without complexity, Aegis’s timing appears near-perfect.
YUSD is now live for minting and redemption at Aegis.im, with liquidity already bootstrapped on Uniswap and several centralized venues.
For Bitcoin believers who refuse to touch fiat-pegged tokens and yield farmers tired of impermanent loss, the message is clear: a new contender has entered the ring, and it pays you to hold it.
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FAQs:
1. What exactly is Aegis YUSD and how is it different from USDT or USDC?
YUSD is a decentralized stablecoin backed 1:1 by Bitcoin instead of dollars in bank accounts. It maintains its $1 peg through delta-neutrally and pays holders automatic yield from perpetual funding rates, all while offering full on-chain transparency that USDT and USDC cannot match.
2. How do I actually earn yield with YUSD? Do I need to stake it?
No staking required. Simply hold YUSD in any Ethereum-compatible wallet, register the address once on Aegis.im, and you’ll automatically accrue yield that’s claimable three times per day. The yield comes from delta-neutral short positions funded by the Bitcoin collateral.
3. Can I really verify that every YUSD is backed by Bitcoin?
Yes. Aegis publishes a real-time proof-of-reserves dashboard showing exact Bitcoin holdings at Fireblocks, Copper, and CEFFU, plus all open perpetual positions and current yield calculations, everything is auditable on-chain via read-only APIs.
4. Who invested in Aegis and why does it matter?
The $2M pre-seed was led by Dewhales Capital (a major backer of Ethena and Pendle) and joined by WOO X, Profluent Ventures, and angels from Uniswap and MakerDAO. This lineup brings deep DeFi expertise, exchange liquidity pipelines, and strong vote of confidence in YUSD’s model.
5. What happens to YUSD if Bitcoin crashes 50 % or more?
The protocol maintains a growing insurance fund from excess yield to handle extreme events. The delta-neutral design keeps the peg stable during normal volatility, and in true black-swan scenarios the insurance buffer plus orderly wind-down mechanisms protect redemptions, a risk profile explicitly designed to survive conditions that would break over-leveraged competitors.
