
native liquidation
the position unwinds inside the pool, at the pool price. no external keeper, no auction, no price gap to absorb.
you deposit tokenized stocks, you borrow usdg, you keep your exposure. collateral on one side, debt on the other, your position in the overlap.
open the appthe left circle is your collateral. the right one is your debt. move the slider: what appears between them is your open position.
the usdg secondary market runs on uniswap v4. three custom hooks on the same pool, in parallel, on every swap.

the position unwinds inside the pool, at the pool price. no external keeper, no auction, no price gap to absorb.

the swap fee tracks the distance to the peg. it rises when usdg drifts from a dollar, it falls when the gap closes.

the yield from the deposited stocks flows back to usdg holders and liquidity providers, block after block.

usdg is issued when you borrow and destroyed when you repay. every unit in circulation has collateral behind it, verifiable on-chain.