rUSD

Current Implementation

rUSD serves as Reya Network's native, chain-agnostic settlement currency. While Reya's cross-collateralization features support various bridged assets, rUSD ensures neutral settlement of PnL between parties.

Currently, rUSD functions as wrapped USDC natively bridged to Reya Network. The system automatically wraps any USDC before posting it as collateral in a margin account. Users can unwrap rUSD for withdrawal at any time, provided the amount isn't locked for margin requirements.

Future Evolution

This implementation represents just the first phase of rUSD's development. The rUSD contract is upgradeable to support three key future enhancements:

1. Native Yield Generation

rUSD will leverage both innovative mechanism design and deep integration within Reya Network to offer native yield, transforming it from a simple settlement medium into a compelling store of value within the ecosystem.

2. Protocol Layer Integration

As part of Reya's holistic development approach, rUSD will become the first stablecoin deeply embedded in a trading system. The Protocol Layer components will reinforce each other, creating powerful synergies. For example, a future Payments Clearing Module could enable derivative settlements by temporarily expanding stablecoin issuance while handling auto-exchange processes separately.

3. Universal Network Currency

The ultimate vision positions rUSD as Reya Network's universal currency. All network fees will be denominated in rUSD, along with insurance funds, underwriting, and staking vaults. The governance layer will leverage rUSD for system backstopping.