ΟΒΟΛΟΣ · the fare for the ferryman
Private money,
carried unseen.
oUSD is a fractional-algorithmic stablecoin you hold and send privately — shield it, and the amount & both parties vanish from the ledger. The coin placed beneath the tongue, paid across the river. Public when you choose; hidden when you don't.
The crossing · live demo
RITE oUSD-001SUBJECT · PRIVATE STABLECOINMARKED · UNSEEN
USDC · collateral
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OBOL · share
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oUSD · public
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oUSD · unseen
██████reveal
The reckoning · protocol
oUSD peg
$—
collateral ratio
—
in reserve
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oUSD struck
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carried unseen
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The unseen ledger · recent
The rites of passage · roadmap
RITE I
Demo & $OBOL
This proof-of-concept — real privacy primitives (commitments, nullifiers, encrypted notes), simulated peg & ledger. $OBOL launches as the community/gov token.
RITE II
On-chain oUSD (devnet)
Anchor programs: deposit collateral → mint/redeem oUSD, Pyth oracle, an oUSD pool. A real, transparent stablecoin on devnet.
RITE III
Peg automation
Algorithmic collateral-ratio control + keeper bots holding the $1 peg via arbitrage.
RITE IV
ZK privacy
Trustless shielded transfers via on-chain zero-knowledge proofs (Light Protocol). The coin truly disappears.
RITE V
Audit & mainnet
Professional audits, liquidity, and mainnet launch. Nothing touches real money before it's audited.
How the crossing works
I
Strike oUSD
Deposit USDC collateral and burn a small OBOL share (fractional-algorithmic) to strike $1-pegged oUSD. Redeem any time to reverse it.
II
Carry it unseen
Move oUSD into the shielded pool — it becomes a note encrypted only to you. Your balance reads ████ on-chain.
III
Pay across the river
Send shielded oUSD and the amount & both parties stay hidden — the ledger keeps only a nullifier and a new commitment. Private digital cash.
⚠ Disclosure · read me
This is a Rite-I demo, not a live protocol. The peg, collateral and ledger are simulated off-chain; the privacy primitives are real but the trustless ZK validity proof is simulated on testnet (audited zk-SNARKs come at mainnet). Algorithmic stablecoins are extremely high-risk — most have de-pegged (see UST/Terra). Nothing here holds real value or is financial advice.