search

csUSDL FAQs

chevron-rightWhat is csUSDL?hashtag

csUSDL is a yield-bearing, RWA-backed stablecoin powered by Morpho protocol and USDL, a regulated stablecoin issued by Paxos International.

Built for businesses and investors seeking to maximize the potential of their stablecoins, csUSDL is an institutional-grade asset, backed by the confidence of Coinshift’s trusted ecosystem.

  • csUSDL represents a tokenized USDL position within Coinshift's vault, which is optimized for blue-chip collateral markets like wstETH and cbBTC, managed by Steakhouse Financial.

  • Yields on csUSDL are fully transparent, independently verifiable onchain, and beyond Coinshift’s control.

  • csUSDL is permissionless, self-custodial, and adheres to core DeFi principles.

Learn Morearrow-up-right about csUSDL and explore csUSDLarrow-up-right on Morpho.

chevron-rightWhat is Coinshift USDL Vault?hashtag

Coinshift USDL Vault is a low-risk Morpho vault, curated by Steakhouse Financial, where USDL depositors can earn additional borrow interest from cbBTC and wstETH holders, and rewards in SHIFT and MORPHO tokens.

chevron-rightWho backs csUSDL?hashtag

csUSDL is backed by institutional-grade security and expertise through partnerships with:

  • Paxos International: A regulated bank and issuer of USDL, a stablecoin backed by T-Bills and cash equivalents. Paxos powers trusted projects like PayPal’s PYUSD and Stripe’s Pay, ensuring regulatory compliance and transparent operations.

  • Steakhouse Financial: A crypto-native financial advisory specializing in stablecoins and RWAs. They manage MakerDAO’s $2B RWA program and operate vaults with up to $60M TVL on Morpho, delivering low-risk, high-security strategies.

  • Morpho Protocol: A highly audited DeFi platform enabling secure, over-collateralized lending. With $4B in supplied assets and 15+ audits, Morpho ensures transparency and efficient asset utilization for csUSDL.

chevron-rightHow does csUSDL maintain its peg and stability?hashtag

The underlying wUSDL is allocated to blue-chip collaterals like wstETH and cbBTC. This conservative approach ensures value stability (csUSDL ≥ USDL) and includes complete on-chain transparency.

chevron-rightHow is the APR for airdrops calculated?hashtag

Airdrop APR decreases with higher TVL, and the 25% ROI is calculated based on a $100M csUSDL TVL target. The SHIFT launch is scheduled for 15th July 2025.

chevron-rightIs csUSDL a hard lock?hashtag

csUSDL allows withdrawals anytime. Users always retain their yield and rewards calculated on a daily basis:

  • Yield from T-bills and lending markets.

  • SHIFT rewards from normal airdrop.

  • Morpho rewards.

chevron-rightHow to obtain csUSDL?hashtag

We recommend acquiring csUSDL either directly through the Coinshift UIarrow-up-right, or by simply swapping via the Balancer B-csUSDC-csUSDL Poolarrow-up-right.

Last updated