# USD products

## Yield and Product Ecosystem

USD0 itself is **non‑yield‑bearing**. Yield is accessed through Usual’s product layer:

| Product   | Description                            | Yield Source                                                    | Paid As                                   | Collateral                                                 | Key Risks                                                          |
| --------- | -------------------------------------- | --------------------------------------------------------------- | ----------------------------------------- | ---------------------------------------------------------- | ------------------------------------------------------------------ |
| **sUSD0** | Savings wrapper on USD0                | USD0 collateral yield (T-bills / overnight secured repo)        | In-kind, in USD0.                         | USD0                                                       | USD0 stack (custody/settlement), smart-contract, governance/params |
| **USD0a** | Higher-yield, “market-neutral” product | BTC/ETH cash-and-carry (dated futures basis) + liquidity buffer | In-kind in USD0a                          | USCC (delta neutral strategy) + USTB (T-bill) /USDC buffer | Basis/unwind, margin/clearing, counterparty/ops, redemption delays |
| **bUSD0** | Bond-like lock until maturity          | Incentives in USUAL                                             | USUAL (coupons) + 1:1 in USD0 at maturity | Locked USD0                                                | USUAL price, lock-up/liquidity, protocol/gov, USD0 risk            |

The yield generated by USD0's underlying T‑Bill collateral (approximately **$5.5–6M/year** at current TVL) is core protocol revenue and is distributed to **locked USUALx holders** (30%) and the **DAO treasury** (70%) via the **Revenue Switch** mechanism.