Unitas

Unitas is a delta-neutral yield infrastructure protocol on Solana and BNB Smart Chain that converts crypto collateral into stable, sustainable yield without taking directional market exposure. Its flagship product, USDu, is an overcollateralized stablecoin soft-pegged to the US dollar. Staking USDu mints sUSDu, a yield-bearing savings token whose exchange rate appreciates automatically as the protocol earns returns. Historical APY for sUSDu holders has ranged between 8 and 15 percent under stable market conditions.

Core Mechanism

Unitas deploys deposited collateral across a basket of market-neutral positions. The core execution loop acquires a crypto asset in the spot market — SOL, ETH, WBTC, JLP, USDC, or USDT — while simultaneously opening an offsetting short perpetual position on the same asset. Because the long and short legs cancel out price exposure, the position is delta-neutral: gains and losses from price moves wash out, leaving only the yield from operating the strategy.

That yield derives from four channels: trading fees earned while provisioning liquidity, funding-rate payments received from perpetual markets, trader profit-and-loss that transfers to liquidity providers, and protocol fees charged on minting, redemption, and liquidation events.

USDu targets a soft peg to one US dollar and is overcollateralized at greater than 102 percent at all times. Minting and redemption access is currently whitelisted to approved partners; retail users access USDu and sUSDu through secondary markets including Jupiter and Orca on Solana and PancakeSwap on BSC. Unstaking sUSDu back to USDu requires a seven-day cooldown period.

Product Suite

Beyond USDu and sUSDu, Unitas has introduced two additional products. XGLD is a yield-bearing gold-linked asset that applies the same delta-neutral framework to XAUt (Tether Gold) collateral, borrowing USDT against it via Bybit and distributing the resulting yield through NAV appreciation. XGLD launched natively on BNB Chain and is available on Base via LayerZero's Omnichain Fungible Token standard. Minting carries no fee; redemption charges 0.1 percent.

The UP token is Unitas's native governance and fee-accrual asset with a total supply of one billion tokens. It launched at a token generation event in February 2026, with 12.6 percent circulating at TGE. The supply splits across Ecosystem and Community (45 percent), Liquidity Exchange Programs (18 percent), Investors (22 percent), and Team and Advisors (15 percent). Investor and team tranches carry a twelve-month cliff followed by a twenty-four-month linear unlock. The forthcoming Unipay Card, currently in prototype, would let users spend USDu balances directly at point of sale.

Governance and Risk Controls

UP holders govern risk parameters, yield allocation policies, collateral eligibility, and fee structures through the Unipay DAO. A 5-of-9 Guardian Council multisig holds emergency powers for rapid response to adverse events. Ten percent of protocol fees flow automatically into an Insurance Fund, with a circuit-breaker trigger that activates during periods of elevated trader PnL volatility. Hourly re-balancing of perpetual hedge positions maintains delta neutrality on an ongoing basis. Per-exchange hedge caps further limit concentration risk at any single venue.

Security and Custody

Unitas has undergone multiple independent smart contract audits. On the Solana virtual machine, Scalebit and Oaksecurity conducted separate security reviews. On the EVM environment, Scalebit and Slowmist performed independent assessments. Audit reports are publicly available in the protocol documentation as part of a transparency framework that also includes monthly collateral disclosures and real-time on-chain address verification.

Off-exchange settlement custody is managed through Copper and Ceffu, two institutional custody providers. Collateral is held in segregated accounts controlled by whitelisted trading instructions. Assets are never beneficially owned by the custodian and remain fully attributable to protocol users at all times. Price feeds come from Chainlink and Pyth oracle networks. Cross-chain bridging relies on LayerZero messaging infrastructure.

Ecosystem Integrations

On Solana, Unitas has integrated with Jupiter for sUSDu swaps and Orca for DEX liquidity. sUSDu is also listed on Pendle, giving yield traders the ability to separate and speculate on the fixed or variable rate components of the yield stream. These integrations position USDu and sUSDu as composable building blocks across the Solana DeFi stack. The protocol's acceptance of JLP — the Jupiter liquidity provider index token comprising SOL, ETH, WBTC, USDC, and USDT — as collateral creates a particularly native integration with Solana's leading perpetuals liquidity venue.

Team and Background

Unitas was founded in 2024 by Madao Chan and Chloe Lo through Unitas Labs. The project emphasizes mechanism design and transparency over founder branding; individual team members beyond the two co-founders are not publicly disclosed in official documentation. The founding team and advisors hold 15 percent of the UP supply, subject to the twelve-month cliff and vesting schedule described above.

Roadmap and Traction

USDu v1 launched on Solana in Q3 2025, with BNB Chain deployment following as part of the multichain expansion. The UP token generation event occurred in February 2026. By March 2026, the protocol had surpassed $97 million in total supply. Cross-chain USDu via LayerZero was in active design as of Q4 2025, and the Unipay Card remains in prototype. Planned EVM network expansion is listed on the roadmap for subsequent phases.

Unitas enters a competitive space alongside protocols such as Ethena (USDe) that use comparable delta-neutral designs, but differentiates through its Solana-first infrastructure, native JLP collateral integration, the gold-backed XGLD product, and institutional off-exchange custody through two separate providers. Its dual-audit approach for both SVM and EVM environments reflects the cross-chain scope of the protocol.