MAINNET V0.3 · GENIUS SECTOR

Capital that
earns itself.

Fypher is a unified DeFi protocol built around four stable assets — FYUSD, RUSD, iRUSD and their staking receipts. Swap, lend, mint, or trade perps. Every action compounds.

Total Value Locked

$312.4M

+4.1%

RUSD Circulating

178.6M

+2.1M

sRUSD APY

8.42%

variable

24h Perps Volume

$48.2M

+12%

◆ FYUSD $1.0002 ↑◆ RUSD $1.0000 ↔◆ sRUSD 1.0842 ↑◆ iRUSD INSTITUTIONAL◆ siRUSD 1.0642 ↑◆ FPY $2.18 ↑4.2%◆ ETH-RUSD $3,482 ↑◆ BTC-RUSD $68,120 ↓◆ POINTS S02 · 42d LEFT◆ TVL $312.4M◆ PEG HEALTHY◆ FYUSD $1.0002 ↑◆ RUSD $1.0000 ↔◆ sRUSD 1.0842 ↑◆ iRUSD INSTITUTIONAL◆ siRUSD 1.0642 ↑◆ FPY $2.18 ↑4.2%◆ ETH-RUSD $3,482 ↑◆ BTC-RUSD $68,120 ↓◆ POINTS S02 · 42d LEFT◆ TVL $312.4M◆ PEG HEALTHY

§ 01 — Token Architecture

Six assets.
One balance sheet.

FYUSD anchors to Genius Sector dollars. RUSD generates protocol revenue. iRUSD serves institutional counterparts. Staked variants (sRUSD, siRUSD) are auto-compounding bonds. FPY governs it all.

FYUSD

GENIUS-ALIGNED

$1.0002

Fypher USD

Compliant dollar-backed stablecoin conforming to the Genius Sector framework.

RUSD

YIELD ENGINE

$1.0000

Revenue USD

The engine stablecoin of Fypher — used to settle swaps, perps, lending, and LP across the protocol.

sRUSD

BOND TOKEN

1.0842

Staked RUSD

Auto-compounding receipt earned when RUSD or FPY is staked. Redeem after a 7-day cooldown.

iRUSD

PERMISSIONED

$1.0000

Institutional RUSD

KYC-gated variant for institutional counterparts. Identical mechanics to RUSD, segregated pool.

siRUSD

INSTITUTIONAL BOND

1.0642

Staked iRUSD

Staking receipt for iRUSD. Shares yield with sRUSD but with access-controlled redemption.

FPY

GOVERNANCE

$2.18

Fypher Governance

Governance + fee-share token. Stake to earn sRUSD yield and vote on risk parameters.

§ 02 — Protocol Surface

Seven modules.
All settle to RUSD.

Swap

USDT / USDC / FPY / RUSD pairs with auto-routing across integrated venues.

Mint / Burn

Deposit USDC or USDT to mint RUSD. Redeem 1:1 via stability pool.

Staking

Stake RUSD or FPY to receive sRUSD — an auto-compounding bond.

Perpetuals

BTC-RUSD and ETH-RUSD with up to 20× leverage. Cross-margined.

Liquidity Pools

Provide liquidity for FYUSD, RUSD, FPY pairs. Delegate to vaults.

Lend / Borrow

Isolated money markets. Oracle-based liquidations at 85% LTV.

Points & Missions

Earn points through volume and missions. Redeemable for FPY.

iRUSD Rails

Permissioned settlement track for institutional counterparts.

Unified Portfolio

Every position, every token, one health score.

§ 03 — Capital Flow

Yield is a
closed loop.

Every swap pays fees to the LP vault. Every perp trade pays funding to sRUSD holders. Every borrow pays interest back into the revenue engine. RUSD routes the value; sRUSD captures it.

Perps Funding42%

Lending Interest31%

Swap Fees18%

LP Performance9%

§ 04 — Loyalty & Missions

Every action
earns FPY.

Mint, stake, trade, and refer — all earn Fypher Points. Climb the seven tiers, unlock mission rewards, and redeem Points for FPY at the close of each season.

Wanderer

Seeker

2,500+

III

Adept

10,000+

Sentinel

20,000+

Architect

30,000+

Oracle

50,000+

VII

Cipher

100,000+

The dollar,
reimagined.

Start minting RUSD, stake for yield, or trade perps in under 60 seconds.

Capital thatearns itself.

Six assets.One balance sheet.

Seven modules.All settle to RUSD.