USDai: redemption value, spread and APY
USDai is USD.AI's synthetic dollar, backed 1:1 by PYUSD. ArbScreener compares what USDai costs on a DEX with the PYUSD it redeems for on-chain, and shows the gap as a spread and an APY — priced in PYUSD, not USD.
Redemption at a glance
| Chain | Redeems into | Redeem time | Token address |
|---|---|---|---|
| Arbitrum | PYUSD | Instant | 0x0A1a1A107E45b7Ced86833863f482BC5f4ed82EF |
| Plasma redeemed on Arbitrum |
USDT0 | Instant | 0x0A1a1A107E45b7Ced86833863f482BC5f4ed82EF |
| Base redeemed on Arbitrum |
USDC | Instant | 0x0A1a1A107E45b7Ced86833863f482BC5f4ed82EF |
Verify any address against the protocol's own documentation before using it.
Live status
| Chain | Spread | APY | Redeem time | Enter | Exit |
|---|---|---|---|---|---|
| Arbitrum | +0.00% | 0.0% | Instant | Mint via the protocol | Redeem via the protocol |
| Base | -0.23% | -1990.2% | Instant | Mint via the protocol | Redeem via the protocol |
| Plasma | -95.82% | -838715.2% | Instant | Mint via the protocol | Sell on a DEX |
As of 20:44 UTC (1 min ago); refreshed while the board is in use. A positive spread means redeeming returns more than buying costs. Gross estimates, not advice. The exact size of each verdict, a quote at your own position size and Telegram alerts are on Pro.
How ArbScreener prices USDai
USDai redeems at a fixed rate (1:1, minus a fixed fee where the protocol charges one) rather than at an exchange rate read from the chain, so the board converts at that rate.
The redemption spread is what redeeming returns minus what buying costs on a DEX, as a fraction of the cost, at a standard quote size and net of the protocol's fee. The APY annualizes that spread over the redeem wait (counted as at least one day), so a discount that takes weeks to collect ranks below the same discount collected today. Everything is in PYUSD, never USD.
The board's full method is in the EVM YBS & Stablecoins guide.
Official links
- Mint / stake: https://app.usd.ai/swap?in=pyusd-42161
- Redeem: https://app.usd.ai/swap?in=usdai-42161&out=pyusd-42161
Questions
What is USDai?
USDai is USD.AI's synthetic dollar, backed 1:1 by PYUSD.
How does ArbScreener value USDai?
USDai redeems at a fixed rate (1:1, minus a fixed fee where the protocol charges one) rather than at an exchange rate read from the chain, so the board converts at that rate.
How long does it take to redeem USDai?
Arbitrum, Plasma, Base: instant. The wait is priced into the APY, so a slow redemption needs a bigger discount to rank high.
What does the USDai redemption spread mean?
The redemption spread is what redeeming returns minus what buying costs on a DEX, as a fraction of the cost, at a standard quote size and net of the protocol's fee. The APY annualizes that spread over the redeem wait (counted as at least one day), so a discount that takes weeks to collect ranks below the same discount collected today. Everything is in PYUSD, never USD.
Risks
These are gross estimates for research, not financial advice. They do not include gas, bridge fees, slippage beyond the quote, or smart-contract and depeg risk, and a redemption value can move during the wait. ArbScreener is read-only and never signs, routes or custodies anything. See the Terms of Service.
Other tokens on this board
sUSDe · syzUSD · sfrxUSD · scrvUSD · sDOLA · sUSDS · fxSAVE · sUSDai · all tracked tokens