Collateralization under stress
Circle USYC's assessment for RD-F-068 — scored not_applicable on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.
Evidence summary #
USYC is not a CDP or lending protocol. No collateral/loan positions exist. The fund holds T-bills in segregated prime brokerage accounts; token holders have a beneficial interest in the fund, not a collateralized borrow position. PD-024: lending-only factor.
Sources #
- URLUSYC product structuring - fund structure confirmationUSYC product structuring docs: fund invests in T-Bills and reverse repo agreements; no CDP or collateral structureretrieved 2026-05-16
Methodology #
Determine whether under curator-defined stress scenario (top-3 collateral assets drop 50%), protocol net collateralization falls below 110%.
See the full factor methodology and distribution across all protocols →
rubric_version v1.7.0 protocol circle-usyc factor RD-F-068 score not_applicable collected_at 2026-05-15 21:56:43