Atomic & SecureAtomic &Secure
Mint, stake and repay settle on-chain, reducing timing risk while keeping every state change verifiable.
Backed by
What makes USDV different
Native YieldNativeYield
Protocol yield routes back to USDV and sUSDV holders without emissions or off-chain reward accounting.
Capital UnlockedCapitalUnlocked
Mint productive dollars while keeping collateral exposure visible and manageable in the protocol.
Composable UtilityComposableUtility
USDV is built to move through HyperEVM markets, lending venues, trading routes and liquidity systems.
Open & AuditableOpen &Auditable
Collateral, supply, debt and yield accounting stay inspectable on-chain so users can verify how USDV works.
Mint, Stake and Earn
Step 01
Mint USDV
Post HYPE, kHYPE or USDC as collateral and mint USDV at 0% APR. Your assets remain on HyperEVM, visible in your position and available to manage at any time.
USDVStep 02
Stake to sUSDV
Convert USDV into sUSDV to receive protocol yield routed by Delpho's on-chain funding engine. The exchange rate updates as yield accrues.
sUSDVStep 03
Earn across DeFi
Use sUSDV across lending, LPs, trading and loops while rewards keep accruing. Redeem when you want to return to USDV.
Mint USDV at 0% APR
Deposit supported HyperEVM collateral while your position remains visible and manageable.
Latest updates
Frequently asked questions
Delpho is Hyperliquid's balance-sheet layer. It lets you mint USDV against assets you already hold, at 0% borrow and without selling them, giving you access to dollar liquidity that can be allocated into yield-bearing strategies.
USDV is Delpho's stablecoin, fully backed by the collateral held inside the protocol and targeting a $1 peg.
sUSDV is the staked, yield-bearing version of USDV. Stake USDV to receive sUSDV and your balance accrues value as the protocol earns yield. sUSDV can be unstaked back to USDV at any time.
Collateral that is deposited into Delpho is used to run a delta-neutral position on Hyperliquid and the short leg earns the funding rates paid by leveraged longs. That funding is distributed to sUSDV stakers. The rate is variable and moves with market conditions.
No. Borrowing USDV against your collateral carries a 0% interest rate, so you are not charged to take out dollar liquidity.
Yes. Delpho has completed a full security audit with Sherlock and the risk model has been independently reviewed with Stablewatch.
You can deposit HYPE, kHYPE, USDC or USDT as collateral.