sUSDh
sUSDh is the productive counterpart to USDh — a dynamic representation of participation in Hamilton’s global reserve system.
When users stake USDh, they receive sUSDh, which reflects their share of the system’s accumulated rewards over time. As Hamilton’s reserves generate verified performance, the reward multiplier adjusts, allowing each unit of sUSDh to redeem for more USDh than it was originally staked for.
This mechanism allows users to remain onchain while participating transparently in the productivity of Hamilton’s reserve operations.
How It Works
Stake USDh Users lock their USDh into the Hamilton Staking Contract. The contract issues sUSDh at a rate determined by the reward multiplier — which starts at 1.0 and gradually increases over time.
Reward Multiplier The multiplier represents cumulative rewards earned by the system’s reserve activities. When users stake, they receive fewer sUSDh than the USDh they contribute (because the multiplier > 1). When they unstake, the same number of sUSDh redeems for more USDh, reflecting the growth in the multiplier.
Unstake Anytime Users can return their sUSDh to the contract to receive USDh back at the current multiplier value. This process is transparent, automated, and verifiable onchain.
Example
Let’s illustrate with a simple scenario:
You stake 1,000,000 USDh when the reward multiplier is 1.05.
You receive 952,380 sUSDh (
1,000,000 ÷ 1.05).Over time, as Hamilton’s reserves operate and the multiplier grows to 1.10, you decide to unstake.
You return your 952,380 sUSDh to the contract.
You now receive 1,047,619 USDh (
952,380 × 1.10).
Your balance of sUSDh didn’t change — but the value it represents in USDh increased through the system’s cumulative performance.
Transparency and Fairness
The staking system is built around fairness, verifiability, and compliance:
No Promised Returns There are no guaranteed rates, fixed yields, or time commitments. Rewards accrue transparently, based solely on the protocol’s verified reserve operations.
Fully Onchain Tracking The multiplier and total supply of both USDh and sUSDh are updated onchain, ensuring full visibility.
Open Entry and Exit Users can stake or unstake at any time, with no lockups or centralized approval.
Verifiable Reserves All reserve activity that contributes to the multiplier is subject to audit and real-world attestation.
Why sUSDh Matters
sUSDh transforms static digital dollars into a proof of contribution — evidence that the holder participated in Hamilton’s real-world reserve productivity.
It allows global users to share in verified economic activity without intermediaries or speculation, while maintaining full control of their funds onchain.
By separating money (USDh) from motion (sUSDh), Hamilton ensures that stability and productivity can coexist — transparently, compliantly, and securely.
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