User Flows
The Hamilton system connects digital users, institutional partners, and global reserve operations through a transparent, programmable framework.
This section walks through how each participant interacts with the protocol — from minting and staking, to reserve deployment, to redemption.
1. Primary Users
Primary users are whitelisted participants who can mint and redeem USDh directly through Hamilton’s verified channels. They include regulated institutions, treasury managers, and qualified onchain users who complete KYC/AML verification through Hamilton’s onboarding partner.
Primary user actions:
Mint USDh:
Deposit USDC (or another supported collateral) through the mint contract.
Receive USDh 1:1 in return.
Stake USDh:
Stake any amount of USDh to receive sUSDh at the current reward multiplier.
Track balance and multiplier updates transparently onchain.
Redeem:
Unstake sUSDh to receive USDh.
Burn USDh to redeem USDC, closing the loop back to fiat liquidity.
Goal: Primary users form the bridge between traditional capital and Hamilton’s programmable reserve layer.
2. Secondary Users
Secondary users are non-verified participants who interact with USDh and sUSDh through public markets — decentralized exchanges (DEXs), OTC desks, and integrations with other DeFi applications.
Secondary user actions:
Acquire USDh or sUSDh via swaps or transfers.
Use USDh as a payment or settlement asset in other protocols.
Trade between USDh, sUSDh, and other stablecoins (e.g., USDC, USDT).
While secondary users can’t directly mint or redeem, they still benefit from Hamilton’s transparent accounting and onchain reward dynamics through market pricing.
Goal: Secondary users expand Hamilton’s circulation, ensuring that the carry trade dollar can move freely across the broader digital economy.
3. Institutional Partners
Behind every USDh and sUSDh token lies an institutional reserve infrastructure that manages real-world operations. These partners include banks, dealers, and custodians who handle the movement of funds, execution of trades, and verification of reserves.
Institutional actions:
Custody & Settlement: Manage USD reserves through secure custodians like Coinbase Prime.
Reserve Deployment: Allocate liquidity into short-term sovereign and money-market instruments in emerging markets.
Leverage Management: Work with local dealers and banks to optimize funding channels under regulatory oversight.
This institutional backbone ensures that Hamilton’s digital economy reflects real-world capital productivity — not synthetic or speculative instruments.
4. The End-to-End Flow
Here’s how everything ties together:
A Primary User completes onboarding via Hamilton’s KYC/AML provider.
The user deposits USDC into Hamilton Global’s custody account (e.g., Coinbase Prime).
USDh is minted 1:1 and sent to the user’s wallet.
The user can hold or stake USDh to receive sUSDh, representing participation in Hamilton’s reserve operations.
Reserves are deployed through institutional partners — primary dealers, banks, and local sovereign instruments — generating verified returns.
As reserve rewards accumulate, the reward multiplier for sUSDh increases, adjusting balances onchain.
The user may unstake sUSDh to receive more USDh, or redeem USDh back into USDC.
The cycle continues, with all flows auditable through Hamilton’s transparency dashboard.
5. Transparency and Oversight
Every user interaction — mint, stake, unstake, redeem — is executed through verifiable smart contracts. Every reserve movement — custody, allocation, or attestation — is subject to oversight by Hamilton’s entities and disclosed to the public.
Onchain Proof: All contract data (balances, multipliers, and total supply) are visible in real time.
Offchain Proof: Independent attestors confirm reserve holdings and verify liquidity coverage.
This dual-verification approach ensures that every USDh and sUSDh in circulation is always backed by real, traceable reserves.
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