On August 3, the decentralized stablecoin USDD officially released the second quarter vault report for 2026. The report shows that the protocol achieved total revenue of 7.66 million USD this quarter, a quarter-on-quarter increase of 21.6%, setting a new quarterly revenue record; during the same period, net profit was 7.63 million USD, expenses were 24.8 thousand USD, and the vault balance reached 7.63 million USD. The protocol maintained stable operation throughout the quarter, achieving zero systemic risk, further validating the effectiveness of its over-collateralization mechanism and risk control system. Meanwhile, the significant increase in revenue once again confirms its strong self-sustaining and stable income ability as the "interest-bearing version of USDT."

Quarterly revenue sets a new high and expenses significantly decrease

According to the USDD vault dashboard data, total revenue for Q2 2026 was 7.66 million USD, marking an approximate 21.6% quarter-on-quarter increase from 6.30 million USD in Q1. Net profit increased from 6.14 million USD in Q1 to 7.63 million USD, while expenses saw a significant drop from 160 thousand USD to 24.8 thousand USD, demonstrating the continued optimization of the protocol's operational efficiency; the vault balance also grew to 7.63 million USD, contributing to a total vault balance of 21.54 million USD, providing a more sufficient capital reserve for subsequent ecological development.

Within the revenue structure, Smart Allocator’s asset allocation returns continued to dominate, and interest income related to stability fees also saw significant growth, collectively driving strong revenue growth this quarter.

Smart Allocator becomes the main source of revenue

The rapid revenue growth of USDD this quarter is the result of the synergistic effect of multiple mechanisms. On one hand, the USDD market size has consistently remained at a high level, providing a more stable base income source for the protocol; on the other hand, its revenue distribution mechanism, Smart Allocator, continuously contributes considerable returns by allocating the protocol's idle funds to high-quality assets, becoming the core support for revenue growth.

At the same time, the Vault mechanism, centered on over-collateralization and liquidity release, operates efficiently, driving a significant increase in stability fee income, causing interest-related income to show a notable rise this quarter, reaching 591.5 thousand USD, which is a 227% quarter-on-quarter increase from 183.3 thousand USD in Q1, further strengthening the protocol's self-sustaining capacity. Throughout the quarter, USDD maintained a highly robust operation while forming and gradually reinforcing a sustainable income closed loop.

USDD has become a solid decentralized financial infrastructure

According to data from the official website, USDD currently has a circulation of 1.59 billion USD, with a TVL of 2.28 billion USD, consistently maintaining a high level while continuously expanding ecological cooperation, and Smart Allocator has cumulatively distributed 24 million USD in revenue. With the dual security mechanisms of "over-collateralization + PSM 1:1 exchange," as well as the Smart Allocator's sustainable revenue model, USDD is gradually solidifying its market positioning as the "interest-bearing version of USDT."

Supported by continuous explosive growth, USDD not only showcases its foundational functions as a decentralized stablecoin but also expands its practicality and stable income attributes. Through mechanism optimization and diverse collaborations with leading platforms, it provides users with combinable and interest-bearing stable asset options, addressing the shortcomings of traditional stablecoins in terms of income.

As a decentralized stablecoin with genuine earning capability, USDD also offers more abundant underlying asset choices for the entire DeFi ecosystem. In the trend of accelerating integration of AI and finance, stablecoins with transparent, verifiable, and sustainable income characteristics provide foundational support for the future AI-driven financial system.

The USDD team stated that the Q2 vault report further demonstrates the protocol's comprehensive strength in revenue growth, risk control, and long-term sustainability. In the future, they will continue to focus on security, transparency, and real income to promote ecological expansion and product iteration.