Convert USDC and nUSD
Convert USDC and nUSD
Convert between USDC and nUSD through the Peg Stability Module.
The Peg Stability Module (PSM) is separate from collateralized borrowing.
USDC --psm_swap_in--> nUSD
nUSD --psm_swap_out-> USDCBoth tokens use six decimals. The current on-chain instructions transfer equal
raw amounts: 1_000_000 USDC base units produce 1_000_000 nUSD base units,
and vice versa.
| Direction | Guide | Main capacity constraint |
|---|---|---|
| USDC → nUSD | Convert USDC into nUSD | PSM liability cap |
| nUSD → USDC | Redeem nUSD for USDC | Idle USDC and outflow breaker |
PSM conversion does not create a vault, accrue stability fees, affect a user's
collateral position, or repay an existing debt. Repayment requires the explicit
repay_nusd instruction.