> ## Documentation Index
> Fetch the complete documentation index at: https://docs.usdh.money/llms.txt
> Use this file to discover all available pages before exploring further.

# Introduction

> Two tokens, one choice: who your dollars are lent to.

**Every stablecoin is a loan, and usdh.money lets you choose who you lend to.** Hold **USDh** and the dollars behind it are lent to the US government. Stake it for **sUSDh** and they are lent to other governments, in dollars, and the extra interest they pay funds your rewards. Rewards change, are not guaranteed, and can be zero.

## Start here

| You want to | Start with | Then read |
| - | - | - |
| **Hold a digital dollar** | [Get USDh](https://docs.usdh.money/getting-started.md) | [USDh](https://docs.usdh.money/usdh.md) · [Risks](https://docs.usdh.money/risks.md) |
| **Earn rewards** | [Stake and unstake](https://docs.usdh.money/staking.md) | [sUSDh](https://docs.usdh.money/susdh.md) · [Risks](https://docs.usdh.money/risks.md) |
| **Check the backing** | [Reserves](https://docs.usdh.money/reserves.md) | [Verify on-chain](https://docs.usdh.money/check.md) · [All documents](https://docs.usdh.money/legal.md) |

## Two tokens side by side

| | USDh | sUSDh |
| - | - | - |
| What it is | A digital dollar, built to stay at one US dollar | USDh that has been staked. Each one becomes worth more USDh as rewards build up |
| Lent to | The US government | Other governments, in US dollars |
| What you get | No interest. Hamilton Prizes for some holders, once they start | Rewards that change over time and can be zero |
| How you get it | Swap for it in the app | Stake USDh in the app |
| How you leave | Swap or send it at any time | Ask to unstake, wait 30 days, then claim |
| Main risk | The US government restructuring its debt | A government it lends to restructuring its debt |

The two tokens are backed differently on purpose. The dollars behind USDh are held for safety and an easy exit, which is why holding USDh pays no interest. When you stake, the dollars behind your USDh are lent to other governments instead. They pay more interest because lending to them carries more risk. Rewards, and that extra risk, apply only if you choose to stake.

USDh is issued by Hamilton Digital Assets Limited. The reserves are managed by a separate company. Staking runs on a separate protocol that the issuer does not control. See [All documents](https://docs.usdh.money/legal.md).

Live numbers, such as total supply, the sUSDh price and today's reward rate, are on the Transparency page in the [app](https://app.usdh.money/).

> [!WARNING]
>
> Rewards are not guaranteed. They can be cut, paused or zero in any period. USDh is not a bank deposit and is not insured. sUSDh lends to governments, and that debt can lose value. See [Risks](https://docs.usdh.money/risks.md).

*These docs are for information only. They are not an offer, a promise or advice.*

*Last updated: Nov 10, 2026*


This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.