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USDh is a digital dollar backed by loans to the US government. It is built to stay at one US dollar, and you can swap out of it at any time. Holding it pays no interest.

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At a glance

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Hamilton Prizes

Holding USDh doesn’t earn interest. Instead, the interest the US government pays on the reserves will fund Hamilton Prizes. Every so often, a few people who have held USDh for a while will each receive a prize. Not every holder will. Prizes haven’t started yet. Before the first one, this page will set out the rules: who qualifies, how often prizes are given, and how people are chosen.

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Where USDh comes from

New USDh is only created when a dollar comes in, and it is destroyed when the dollar goes back out. Supply started at zero, so it can only grow as fast as the money behind it. Businesses signed up with the issuer create and redeem USDh directly. Everyone else swaps for it and swaps out.

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What the contract can and can’t do

Verify on-chain shows how to see all of this for yourself.
USDh is not a bank deposit and is not insured. Its price can slip below one dollar in stressed markets. See Risks.
Last updated: Nov 10, 2026