Turn your AAPL into pUSD
without selling it.
Porus is the stock-backed dollar. Deposit tokenized equity as collateral, borrow USDG, and mint pUSD — atomically, one transaction. Then put that pUSD to work.
Treasury
Converts USDG into pUSD and back, always at par.
Stock markets
AAPL, NVDA, MSFT, TSLA, SPY — each its own collateral market.
pUSD / USDG pool
Casual trading; the peg is held by Treasury arbitrage, not the pool.
Chainlink
Equity-aware feed for every stock market.
USDG
What your stock borrows, one step before it becomes pUSD.
Not just a stablecoin, not just a lending market
Porus isn't "we have a stablecoin" or "we lend against stocks" on its own — it's the combination: equity becomes credit, credit becomes pUSD, pUSD becomes productive capital.
Atomic mint
Stock in, pUSD out — one transaction. Borrowing USDG and converting it through the Treasury happen inside the same call, so there's no intermediate state where you're holding USDG you didn't ask for.
Isolated markets
One market per stock. A bad price feed or a thin, volatile ticker stays contained to its own market — it can't touch collateral posted against a different stock.
Utilization-driven rates
Borrow APR floats with each market's own utilization. Porus doesn't set it, and it starts near zero on a thin market.
One isolated market per stock
Anyone can deploy a lending market against any collateral with any oracle — the point of listing a market here is that it cleared a bar: its oracle has to return the same live price already trusted elsewhere for that stock, and it stays isolated from every other market. Bad collateral in one market can't touch another.
Supplied USDG and borrow APR go live once each market is seeded — borrow rate floats with utilization, it's a real market rate, never one Porus sets. LLTV shown is the proposed single-stock convention (62.5%), with a higher ceiling for the SPY index market.
Deposit, borrow, earn
Porus is a stock-backed dollar protocol. Tokenized equity becomes collateral, collateral becomes borrowed USDG, and USDG becomes pUSD — one continuous line of credit, expressed to the user as a single step: deposit stock, receive pUSD.
Internally that's two legs — borrow USDG against the stock, then convert USDG to pUSD through the Treasury — but the app collapses them into one atomic transaction. There is no intermediate state where you're holding USDG you didn't ask for.
Deposit stock as collateral
Tokenized AAPL, NVDA, MSFT, TSLA, or SPY goes into that stock's own isolated market — collateral never mixes across tickers.
Borrow USDG, mint pUSD
The market lends USDG against your stock; the Treasury converts it to pUSD at par. Both legs settle in one transaction — you never touch USDG directly.
Put pUSD to work
Hold it, trade it, or stake it into spUSD, which stays supplied into stock-collateral markets earning the interest borrowers pay. Unwind anytime — repay and your stock returns to your wallet.
pUSD itself is not a claim on any specific stock. It's redeemable 1:1 against USDG through the Treasury; the equity collateral only ever backs the USDG loan that produced it. That distinction is what keeps each stock market isolated and pUSD fungible regardless of which ticker minted it.
A plain dollar, and a working one
A single Roman denarius, same engraved sepia-on-cream (or ivory-on-indigo) technique as the skyline. Obverse: the Porus stepped-arch mark where a portrait bust would normally sit, with 'PVSD' inscribed around the rim like a real coin legend. No face, no figure — coin, not bust.
pUSD
Plain, transferable, no yield
An ERC-20 minted 1:1 against USDG through the Treasury, or directly against stock collateral in one atomic transaction. Hold it, trade it, or provide liquidity with it — it doesn't accrue anything on its own.
spUSD
ERC-4626 vault, staked pUSD
Deposit pUSD and it's auto-supplied across the stock collateral markets, earning the interest borrowers pay to hold their leveraged position open. Share price rises as that interest accrues — no separate claim step.
Where the yield actually comes from: real interest paid by stock-collateralized borrowers across Porus markets — nothing else. Porus does not hold or claim any T-bill / treasury-bill sleeve today; that stays off this page until it's actually integrated and held.
What's actually contained, and what isn't
Isolated collateral
A stock market's bad debt is contained to that market — it never draws down another ticker's collateral or the Treasury's USDG reserve.
Oracle-gated listing
A market only gets listed once its oracle returns the same live price already trusted elsewhere for that stock. No custom, unverified price feeds.
Permissionless liquidation
Any address can liquidate an unhealthy position once it crosses a market's LLTV — liquidation isn't gated behind Porus infrastructure.
No custody
Porus never takes custody of collateral, borrowed USDG, or staked pUSD. Positions are opened and closed directly by the holder's wallet.
Market hours
Stock-token price feeds update 24/5, following market hours. Off market — nights, weekends, holidays, halts — the feed holds its last price with no heartbeat, and each market liquidates purely off that reported price. If you're borrowing against stock collateral, size for that — leave more headroom below a market's LLTV than you would against a feed that updates every second. pUSD holders who aren't borrowing aren't exposed to this directly.