Legacy Seed Pool LP Upgrade
The transition from the old USD* (Seed Pool LP receipt) to the new USD* (liquidity layer token) is designed to be smooth and user-friendly.
Quick History
Seed Pool Origin: Initially a receipt token for a deep, auto-compounding USDC/USDT/PYUSD pool.
Unified Liquidity Layer: Now aggregates multiple yield sources—Seed Pool fees, Drift lending, tokenized Treasuries, and more—into a single composable token.
Solution
For existing Seed Pool LP holders, migration is seamless. Instead of manually unwinding positions, Seed Pool LP tokens are deposited into the vaults underlying the USD* protocol. These vaults automatically rebalance across strategies, ensuring that no assets remain idle. From the user’s perspective, balances simply update to reflect new USD* holdings.
For new entrants, minting is straightforward: deposit USDC and receive USD*. Over time, deposits in other stablecoins will also be routed into USDC through integrated aggregators, maintaining the principle that USD* is primarily paired with USDC at the contract level.
Yield distribution has also been simplified. There is no longer a need to stake or opt into Growth Pools — holding USD* is enough. Yield accrues automatically and is reflected in the rising value of USD*, with every holder sharing the same return profile regardless of how they entered.
At launch, the portfolio will consist primarily of Seed Pool LP and Drift Lending positions. Future upgrades will introduce additional yield vaults, such as USD′. Each new integration broadens the set of strategies backing USD*, but the user experience remains unchanged: a single, simple, yield-bearing token.
Upgrade Instruction
If you are holding Seed Pool LP tokens, you can upgrade them into USD*:
Go to the Portfolio Page.
Connect your wallet containing the LP tokens.
Select the LP tokens to upgrade.
Confirm the transaction.
You will receive USD* directly in your wallet.
FAQ
Q: What happens to my old USD (Seed Pool LP)?* A: Migration is seamless. When you choose to upgrade, your Seed Pool LP is deposited into the vaults that back USD*. These vaults automatically rebalance across strategies to maximize efficiency and eliminate idle assets. From your perspective, your wallet balance simply updates to the new USD*.
Q: What’s the difference between the old USD* and the new USD*?
Old USD*: A receipt token tied specifically to the Seed Pool.
New USD*: A capital-efficient token backed by multiple vaults. It is yield-bearing by default, with strategies automatically managed by the protocol.
Q: Do I still need to opt in Growth Pools to earn more yield? A: No. Yield is now built directly into USD*. By holding USD*, you automatically earn yield from the strategies backing it. There’s no need for separate staking or opt-in mechanics.
Q: How do I mint the new USD*? A: The simplest way is to deposit USDC. The protocol mints USD* for you. Over time, additional stablecoins (such as USDT, PYUSD, or others) will also be supported. These will be automatically routed and converted into USDC through integrated aggregators, keeping the system efficient and consistent.
Q: How does yield show up in my wallet? A: Yield is reflected as price appreciation. Instead of receiving additional tokens, the value of USD* increases over time to mirror the performance of its underlying strategies. Every holder shares the same return profile, regardless of how they entered.
Q: What assets back USD* today, and what about the future? A: At launch, USD* will be primarily backed by Seed Pool LP positions and Drift Lending strategies. In future upgrades, the protocol will integrate new vaults — for example, USD′ and other yield sources — further diversifying and strengthening the backing of USD*. These upgrades are automatic: from the user perspective, USD* remains a simple, yield-bearing asset.
Q: Is migration mandatory? A: No, migration is not strictly mandatory. However, upgrading is strongly recommended to benefit from the new unified vault architecture and built-in yield. The old USD* (Seed Pool LP) will not accrue yield in the new system, while migrated USD* automatically participates in the protocol’s strategies. For the best return profile and long-term support, holders should migrate.
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