TurboUSD Unstablecoin

1.1Dilution by design

The broad US money supply, M2, was about $300 billion in 1960. It is over $23 trillion today. Between January 2020 and mid-2022 alone it grew by more than 40%. Prices followed with a delay, as they always do: the Consumer Price Index has multiplied more than elevenfold since 1960.

This is not a failure that a better central bank will fix. Monetary expansion is how modern states finance themselves, and every holder of the currency pays for it through a loss of purchasing power that never appears on a bill.

1.2Stablecoins: fiat, onchain

Stablecoins are expected to become one of the dominant forces in crypto, driven by governments and private companies alike. Their supply passed $300 billion in 2026. Yet what they extend is not a new monetary order, but the digital continuation of the old one. They preserve the language of stability while normalizing the same monetary logic that defines fiat itself: endless issuance, managed confidence and the steady erosion of purchasing power.

A stablecoin is stable only against the thing that is losing value. Holding one onchain is holding a dollar with better plumbing. TurboUSD was created inside this contradiction, not to hide it, but to expose it and build around it.

1.3A flooded market that leaves the community behind

At the other end of crypto, thousands of tokens launch every day. Many arrive already priced for insiders, their communities treated as exit liquidity, their economics built for a few weeks of attention. Builders with real ideas struggle to cut through the noise while shallow projects absorb capital and disappear.

₸USD was designed against both failures: against a currency that dilutes its holders, and against a token that extracts from its community. That is why it launched fairly, why nothing in its design pays the founder, and why every mechanism described in this paper points value back to the people who hold it.

2.1What ₸USD is, and what it is not

₸USD is an ERC-20 token on Base, Coinbase's Ethereum layer 2, at 0x3d5e487B21E0569048c4D1A60E98C36e1B09DB07. It is not backed and cannot be redeemed for anything. It does not promise a price. Its value comes from three things only: a supply that can only go down, the assets it is priced against, and the demand of the people who hold and use it.

2.2Origin: the first unstablecoin

TurboUSD was deployed on 12 October 2024 through Mint.Club on Base, launched at $1, as the world's first unstablecoin. The deployment transaction is public and permanent, and it is the basis of the claim: see it on Basescan.

On 5 July 2025 the project relaunched as a fair launch through Clanker with a 100 billion supply. The token and its ₸USD/WETH liquidity position were created in the same transaction, and the position was renounced there and then: the liquidity cannot be pulled by anyone. In November 2025 TurboUSD reached Champagne Clanker, the platform's highest tier.

2.3The unstable meta

Since ₸USD, other projects have adopted the unstablecoin idea. TurboUSD treats that as proof of the thesis rather than competition, and keeps a neutral record of the sector at unstablecoins.org, where projects are listed in the order they were deployed onchain.

3.1What the Anchor is

₸USD is quoted against ETH in its ₸USD/WETH pool, live since launch and renounced. Every trade prices ₸USD in ETH, never in dollars. That is the first half of the Anchor, and the only pair the token itself has.

The second half is not a pair at all. On MemeStock.market, every memestock is launched against a reserve held by its own contract: 50% ₸USD, 25% the company's real tokenized stock and 25% selected tokens. ₸USD is the money that market is denominated in, and the hard assets sit beside it inside every one of those reserves.

3.2What is in it

• Ethereum. The pair ₸USD has always been quoted in, and the base layer of the onchain economy.
• ₸USD itself. Half of every memestock reserve. Each launch buys it on the market, and every trade in that market burns it by the same weight.
• Tokenized equities. A quarter of each reserve: the company's own share, issued onchain by a third party and held by the memestock's contract.
• Selected tokens. The last quarter: allied projects and communities, set in each prospectus and changeable by holder vote within safety limits.

These weights are not pool liquidity that has to be measured: they are fixed in each memestock's prospectus at launch. The treasury's own strategic tokens (section 8) are a different instrument.

3.3What the Anchor is not

3.4Why it works

When dollars are printed, they do not reprice everything equally. They flow first into assets with scarce supply or real earnings: Ethereum, the largest listed companies, gold. Since January 2020, the dollar has lost over a fifth of its purchasing power while those assets multiplied in dollar terms.

A token quoted against those assets lives on the inside of that repricing. A token that is also half of the reserve behind every memestock gets a second line in: each launch is direct demand for ₸USD, and each trade in that market burns it. Combine the two with a supply that only shrinks, and the result is the thesis in one line: ₸USD looks like a dollar and appreciates like a hard asset.

4.1The rules arrive

For the first time, a tokenized share of a listed company can sit in the same kind of pool, and be traded by the same kind of smart contract, as any other token. That is what makes the Anchor possible.

4.2Hard assets and paper assets

Not every tokenized asset protects against dilution. A tokenized bond or a tokenized money-market fund is still paper: a claim on dollars, with the dollar's weakness built in. ₸USD is only quoted against the tokenized assets that reprice upward as money is printed: equities with real earnings, metals, and Ethereum.

4.3Where ₸USD stands

• Priced in tokenized assets. ₸USD is quoted against ETH, and half of every MemeStock.market reserve, the rest of which is real tokenized shares and allied tokens. The more of the economy goes onchain, the more of it ends up in those reserves.
• A treasury run by smart contracts. The Treasury Manager is capped by code: per-action and daily limits, a cooldown, a TWAP check, and no way to sell ₸USD (section 8).
• An AI agent onchain. AMI decides and executes every treasury action on Base, and is registered as an AI agent under ERC-8004 (section 7).

5.1The guarantees

5.2Burns

A burn sends ₸USD to an address nobody controls, removing it from the supply forever. ₸USD is burned in two ways:

• The BurnEngine (0x0226…63AB), live since 17 March 2026. Every trade in the main pool pays a 1% fee. The BurnEngine claims the creator share of those fees, plus legacy fees collected before it existed, converts them into ₸USD and burns it. Anyone can trigger it; nobody can redirect it.
• Treasury burns by AMI. AMI can burn ₸USD held by the treasury, within the limits of the Treasury Manager.

Together with the 900 million ₸USD burned by Clanker in October 2025, about 1.05 billion ₸USD had been burned by 21 September 2026.

5.3Buybacks

A buyback takes ₸USD off the market without burning it immediately. AMI buys ₸USD with the treasury's own funds: trading fees, the proceeds of strategic tokens that hit their trigger (section 8), and OTC purchases made with capital brought in from outside. What it buys is locked in the treasury for good. It can never be sold; it only ever leaves to be staked or burned.

The largest buyback so far was paid by the founder. At the Clanker launch, 2 billion ₸USD were set aside for the team. The founder bought the other members' share OTC, paying them from his own pocket, and when the allocation unlocked on 20 April 2026 he donated the full 2 billion to the Treasury Manager instead of selling it. It can only be burned.

5.4Where the supply is

Most wallets come from an airdrop that put ₸USD in front of people who had never seen it, so they would look into it. The number that matters is not how many wallets exist but how much of the supply is off the market: burned, bought back or staked.

6.1Inside: activity becomes scarcity

1. Demand for ₸USD creates trading volume.
2. Every trade pays a 1% fee, in WETH and ₸USD.
3. The BurnEngine turns fees into burned ₸USD.
4. AMI turns the treasury into buybacks and locks.
5. Less ₸USD is left on the market, so the same demand meets a smaller supply.

6.2Outside: printing becomes price

1. Dollars keep being printed.
2. Hard assets reprice upward: ETH, tokenized stocks, allied tokens.
3. ₸USD is quoted against ETH and sits in the reserve beside the rest, so its price moves with them and each launch buys more of it.
4. A higher price brings attention, and attention brings demand back to the inside face.

Neither face needs the other to work, and each feeds the other. That is the design: a supply that only shrinks, living inside the assets that the printer makes more expensive.

7.1The anti-Fed

7.2From experiment to agent

7.3Architecture

AMI is built in six layers, from what it sees to what it remembers. Intelligence and control never sit in the same layer: AMI may decide what should be done, but the Treasury Manager contract defines what can be done.

7.4A decision in practice

On 18 March 2026 the Federal Reserve held rates. AMI read the decision, weighed it against ₸USD's own market, and planned a buyback of 0.25 WETH. The Treasury Manager's per-action limit capped it at 0.05 WETH, and that is what was executed. The agent proposed; the contract disposed. The full log of operations, each with its transaction, is public at treasury.turbousd.com.

8.1The contract

The Treasury Manager (0xAF8b…4107) is the only way AMI can touch the treasury. It exposes a short list of functions, each with its own limits, and leaves out everything that could drain it.

8.2Constraints and safety

• Cooldown. At least 60 minutes between two operator actions.
• Price checks. Every swap is checked against a time-weighted average price: 30 minutes on liquid pools, 2 hours on the ₸USD pool, so a manipulated price cannot trigger an action.
• Roles. An owner and an operator, with two-step ownership transfer. The owner is kept for safety for now and can be renounced later.
• Permissionless fallback. After an initial 180-day period, if both owner and operator stay inactive for 14 days, anyone can execute the treasury's functions within the same limits.
• Audits. Two audit rounds, on the v2 and v3 contracts. The code is public on GitHub.

8.3Strategic tokens: buyback triggers

Strategic tokens are other tokens AMI buys for the treasury, chosen from the Base ecosystem. They are not a portfolio and not a reserve: each one is a trigger. When a strategic token rises past its target, AMI rebalances it, and 75% of the proceeds become a direct ₸USD buyback. The rest goes to USDC for future buybacks.

In September 2026 the registry held DRB, BNKR, KELLY and CLAWD. The live registry, with each token's position and trigger, is on treasury.turbousd.com.

9.1Locked pools

Locked pools (0x2a70…C89A, through team.finance) pay around 15% a year in ₸USD in exchange for a fixed lock. Pools 1 to 3 have ended; the current pools unlock between 2026 and 2030. Fort Turbo holds 1.5 billion ₸USD locked until 1 January 2030.

9.2TurboFaith

TurboFaith (0x2958…21bc), live since 14 July 2026, is liquid staking: no lock, withdraw at any time. While ₸USD is staked it accrues ₸FAITH, a loyalty score (1,000 ₸USD staked for a day earns 1 ₸FAITH). ₸FAITH is not a token and cannot be traded; it measures conviction.

10.1MemeStock.market

MemeStock.market replays the stock market onchain. Historic IPOs, starting in 1979 with BRK.M, are relaunched in chronological order as memestocks through Initial Memestock Offerings (IMOs), on a clock driven by Ethereum blocks. There will be few, launched one at a time.

• ₸USD is the entry ticket. IMOs are entered with ₸USD, and every memestock is backed by a basket of 50% ₸USD, 25% the company's own tokenized stock and 25% strategic holdings.
• Fees burn ₸USD. Each prospectus sets its trading fee, from 0.5% to 5%. Part of it is always burned, split like the basket, so every trade burns ₸USD; the rest goes to the brokerage and, if the prospectus chooses, to holders and the board they elect. None of it goes to the founder.
• ₸USD is locked to take part. Brokers stake ₸USD to lead a brokerage and file prospectuses, ₸USD stakers get a bigger ticket in every IMO, and the terminal will reserve some functions for ₸USD holders.

10.2Real-world products

TurboX Energy is the first onchain energy drink: Edition #1 is 5,000 silkscreened cans with the ₸USD contract printed on them, handed out in 16 places around the world. Products are issued by TurboAssets LLC, a Wyoming company registered on 3 August 2025.

The Turbo Node is an open-source IoT desk terminal that shows ₸USD's price, its burns and the US debt clock, tracks a watchlist and displays NFTs. Nodes on the ₸USD Network take part in hourly rewards in existing ₸USD; for now those rewards are symbolic and nothing is ever minted for them. The Store sells apparel and objects paid in ₸USD, ETH or USDC on Base.

10.3Tools and community infrastructure

• treasury.turbousd.com: the live treasury, every AMI operation with its transaction.
• unstablecoins.org: the neutral screener of the unstablecoin sector.
• Telegram bots: AMI, live stats, the meme bot, and staking and burn monitors.
• The meme database: hundreds of ₸USD memes, free to download and share.

10.4How each engine feeds ₸USD

11.1From narrative to objects

The real-world layer is not ornamental; it is structural. A can, a shirt or a device on a desk turns an abstract token into something people can hold, give and talk about. Each object carries the same message and the same contract address, and each one is a persistence mechanism: it keeps ₸USD present when the market looks elsewhere.

11.2The Cult of Chaos

The community calls itself the Cult of Chaos. Holders become participants through eleven ranks, weekly raids and level-up rewards, and the manifesto sets its principles: reject stability sold as safety, verify instead of trusting, and hold what cannot be printed.

11.3Symbols

The ₸ sign (Unicode U+20B8), neon green on black, the eye and the monolith. The references are deliberate: 1984, The Matrix, Fight Club, stories about seeing through a system that presents itself as the only possible one. The full brand kit is free to use.

13.1Contract register (Base)

13.2Timeline

Data sources used in this paper: FRED (M2, CPI, ETH), Yahoo Finance (equities), DefiLlama (stablecoin supply), Basescan and treasury.turbousd.com (onchain data).