USD+
USD+
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
USD+ (Overnight.fi) is an ERC-20 yield-bearing stablecoin designed to pass passive yield directly to holders via elastic supply mechanics. Two sections—Active Development and Community Support—suffered from severe data gaps and were scored -1.0 (insufficient data), necessitating their exclusion and proportional weight redistribution across the remaining categories. Across the evaluated dimensions, USD+ displays significant fundamental weaknesses. In Tokenomics and Market/Use Case (both 2.5/10), the protocol functions with an unverified reserve backing mechanism, negligible micro-cap market capitalization of ~$438,331, and persistent mild peg divergence (~$0.9936), rendering it uncompetitive against established stablecoin giants. Team and Governance (2.0/10) suffers from profound opacity, with no publicly verifiable team identities, GitHub repositories, or transparent governance structures. In Security and Audit History (2.5/10), there is no verifiable independent audit record for Overnight.fi's USD+ (retrieved audit documentation belonged to an unrelated project, Dinari's USD+). While no historical exploits, legal actions, or catastrophic depegs were affirmatively identified, the absence of audits, transparent governance, and reserve verifiability makes holding this asset exceptionally risky.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About USD+ (USD+)
USD+ is an ERC-20 yield-bearing stablecoin issued by the Overnight.fi protocol. Designed to track the value of the US dollar, the token operates on an elastic supply model utilizing minting, burning, and rebasing mechanics to deliver passive yield directly to holder balances. USD+ is deployed across networks including Ethereum and Base.
As of July 2026, on-chain metrics indicate that USD+ has approximately 63,462 holder addresses on Base, a micro-cap market capitalization of roughly $438,331, and a trading price hovering near $0.9936. While no historical hacks, exploits, protocol insolvencies, or regulatory actions have been documented against Overnight.fi's USD+, the token operates in a competitive stablecoin sector with unverified exchange liquidity and total value locked.
The project carries notable operational and transparency risks. There are no verifiable independent security audits on record for Overnight.fi's USD+, and its collateral reserve backing mechanisms remain unverified. Additionally, the protocol exhibits significant governance and development opacity, lacking publicly verifiable team identities, active public code repositories, and transparent governance documentation.