iUSD is the native stablecoin of the Initia network, built on Agora's AUSD and bridged to Initia via LayerZero. It is fully backed by short-term U.S. Treasuries and USDC, with reserves managed by VanEck and custodied by State Street. Rather than letting reserve yields accrue to the issuer, iUSD redirects them back into the Initia ecosystem as incentive capital for users participating through LP provision, lending on Echelon, and Cabal vault deposits.