Lift Dollar PriceUSDL

What is Lift Dollar (USDL)?

Lift Dollar (USDL) is a US dollar-backed, yield-bearing stablecoin issued by Paxos International, the operating name of Paxos Issuance MENA Ltd., a UAE-based affiliate of Paxos. It was designed as a fiat referenced token (FRT) under the regulatory framework of the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). USDL is an ERC-20 token deployed on Ethereum and Arbitrum, maintaining a 1:1 peg with the US dollar and redeemable 1:1 for US dollars from Paxos International. Its defining feature was the daily distribution of yield generated by reserve assets directly to eligible token holders' wallets through an Ethereum smart contract, without requiring any additional action from the holder. USDL was positioned to democratize overnight yield by shifting interest earned on stablecoin reserves from the central issuer to eligible end holders and distribution partners. Paxos International announced USDL on June 5, 2024; the token's registered launch date is June 4, 2024. It was initially made available to consumers in Argentina through distribution partners. On October 8, 2025, Paxos announced the winding down of USDL, ending the minting of new tokens and daily yield distribution. The USDL token contracts are no longer active, and the project has been deprecated, with airdropped USDG on Ethereum serving as a replacement token.

Key Specifications & Tokenomics

• Name: Lift Dollar
• Ticker / Symbol: USDL
• Issuer: Paxos International (Paxos Issuance MENA Ltd.)
• Issuer LEI: 213800KJDK3BB4L16G14
• Domicile: United Arab Emirates
• Regulatory Framework: Abu Dhabi Global Market (ADGM), Financial Services Regulatory Authority (FSRA)
• Token Standard: ERC-20
• Blockchains: Ethereum and Arbitrum
• Ethereum contract: 0xbdC7c08592Ee4aa51D06C27Ee23D5087D65aDbcD
• Arbitrum contract: 0x7f850b0ab1988dd17b69ac564c1e2857949e4dee
• Inception Date: 2024-06-04
• Category: Stablecoin; Real World Assets (RWA)
• Currency: US Dollar
• Base Assets: USD
• Use of Income: Accumulates
• Management Fees: 0.50%
• Performance Fees: 0%
• Subscription Fees: 0%
• Redemption Fees: 0%
• Max Supply: Not specified by the issuer; the token was minted on demand and is now fully wound down (total supply 0).
• Total Supply: 0 USDL
• Circulating Supply: 0 USDL
• Market Cap: $0
• FDV: $0
• NAV: $1.00 at issuance (1:1 USD peg); the token has since been wound down.
• Eligible Investors: U.S. Qualified Purchaser; Non-U.S. Investor
• Official Website: https://www.paxos.com
• Documentation: https://docs.liftdollar.com
• Explorer: etherscan.io

Who created Lift Dollar?

Lift Dollar was issued by Paxos International, a UAE-based affiliate of Paxos operating as Paxos Issuance MENA Ltd. Charles "Chad" Cascarilla, co-founder and CEO of Paxos and a member of the board of directors of Paxos International, stated that Lift Dollar is structured the same way as other stablecoins issued by the firm, including PayPal USD. Ronak Daya, Head of Product at Paxos, described Lift Dollar as the first stablecoin designed to benefit token holders, with both token holders and distribution partners receiving daily yield through an Ethereum smart contract. Brian Whitehurst, Chief of Staff and Global Head of Regulatory Affairs, was also referenced in connection with the project. Lesley Chavkin authored a LinkedIn post about the Paxos International and Lift Dollar announcement. At launch, distribution partner executives quoted included Sebastián Serrano, CEO and co-founder of Ripio; Federico Ogue, Chief Executive Officer of Buenbit; and Federico Goldberg, Co-Founder and CEO of Manteca. No information on external funding rounds, investor institutions, or investment amounts is present in the available materials.

How does Lift Dollar work?

USDL operated as a yield-bearing stablecoin on Ethereum and Arbitrum. The token maintained a 1:1 peg with the US dollar and was always redeemable 1:1 for US dollars from Paxos International. Reserve assets consisted of US dollar deposits, short duration US treasuries, and cash equivalents, held under the safe protection and custody requirements of the FSRA. Using an Ethereum smart contract, USDL distributed the yield generated from its reserves to eligible wallet addresses daily, without requiring any additional steps by the token holder, so that token holders' USDL wallet holdings increased every day. Paxos retained an issuer fee and paid out the remaining yield earned based on prevailing daily market conditions. The reserve assets fully backed the total value of USDL in circulation. Under the FSRA's license, Paxos International was required to hold only high-quality liquid assets to back USDL, to ensure 1:1 parity with the US dollar, and to allow consumers to redeem their tokens for fiat at all times. Open-source smart contracts were available on GitHub under the repository paxosglobal/ybs-contract. Paxos stated that reserves and yield generation were audited and published monthly; the specific auditor and report links are not specified in the available sources. Getting started typically involved contacting sales for eligibility verification and onboarding, especially for business clients.

What makes Lift Dollar unique and valuable?

USDL was described by Paxos and the ADGM announcement as the first stablecoin to offer holders daily yield in wallet under regulatory oversight. It was designed to democratize overnight yield by shifting interest earned on stablecoin reserve holdings directly to eligible end holders from the central issuer, rather than retaining that yield at the issuer level. Both token holders and distribution partners received daily yield through an Ethereum smart contract. The token was issued under the ADGM FSRA framework, which is recognized for its robust regulatory framework and commitment to fostering innovation in financial services. The reserve structure of US dollar deposits, short duration US treasuries, and cash equivalents was comparable to other Paxos-issued US dollar stablecoins backed 1:1 in value. According to CoinDesk's launch coverage, USDL offered a programmatic daily rate of around 5%, aligned with U.S. Treasury returns; the rate varied with market conditions. USDL was not available to residents of the US, UK, EU, UAE, Canada, Japan, Hong Kong, Singapore and certain other jurisdictions. It targeted professional clients eligible under FSRA rules, offering direct access to US dollars and yield from secure, regulated cash equivalent assets outside the US. The model was designed to address the limitations of stablecoins that offer no yield or rely on volatile collateral, while mitigating risks around reserve management and redemption through regulatory oversight and transparency.

What is Lift Dollar used for?

USDL served several primary use cases. As a yield-bearing stablecoin for DeFi, developers could integrate USDL to offer users a stablecoin that accrues yield daily from secure cash equivalents. For enterprise treasury management, enterprises could use USDL to hold digital dollars with yield, improving liquidity management and earning returns on idle cash. For cross-border payments with yield, financial institutions could leverage USDL for cross-border transfers that maintain dollar stability while generating yield. The token targeted financial institutions, DeFi developers, and enterprise blockchain teams. Distribution partners in Argentina, including Ripio, Buenbit, Manteca, and Plus Crypto, listed USDL on their platforms, giving retail and business users access to a regulated, yield-bearing dollar stablecoin. USDL was also used as a treasury reserve and settlement asset in partnership with Velo Labs, announced May 19, 2025. Eligible investors included U.S. Qualified Purchasers and Non-U.S. Investors, excluding US residents and customers in other specific countries. Eligibility was limited to professional clients under FSRA rules; USDL was not offered to US residents, and the "U.S. Qualified Purchaser" category refers to the issuer's investor classification rather than general US retail availability.

How Is the Lift Dollar ecosystem developing?

Paxos International announced USDL on June 5, 2024, together with its availability to consumers in Argentina via distribution partners Ripio, Buenbit, Manteca, and Plus Crypto; the token's registered launch date is June 4, 2024. The ADGM published an announcement on June 7, 2024 titled "Paxos International Introduces Lift Dollar (USDL) - the First Stablecoin to Offer Holders Daily Yield in Wallet Under Regulatory Oversight"; the "first" claim reflects the issuer's and the announcement's framing. USDL was also deployed on Arbitrum alongside Ethereum. On May 19, 2025, Velo Labs collaborated with Paxos International to integrate Lift Dollar as a treasury reserve and settlement asset. On October 8, 2025, Paxos published "Winding Down USDL Lift Dollar," announcing the decision to wind down the stablecoin; minting of new tokens ended on October 8, 2025, and daily yield distribution ended. Minting ended on October 8, 2025; daily rebasing halted on December 8, 2025; outstanding USDL was converted to USDG and burned, with balances under $1 not recouped. The project has been deprecated, with USDL token contracts no longer active and airdropped USDG on Ethereum as a replacement token. The community maintained an X account at @LiftDollar_USDL, and the CoinMarketCap page included community and holder sections. Holder counts and activity metrics varied by data provider and are no longer meaningful after the wind-down.

How to mine Lift Dollar?

USDL is not a mineable cryptocurrency. It is a stablecoin issued by Paxos International, and new tokens were minted according to demand rather than through proof-of-work or proof-of-stake mining. There is no mining mechanism, no staking mechanism, and no consensus participation reward associated with USDL. Instead of mining, eligible users could acquire USDL through distribution partners or directly through Paxos International's onboarding process, which typically involved contacting sales for eligibility verification. The yield that holders received was generated by the reserve assets backing the token, not by mining or staking. Yield was distributed daily through an Ethereum smart contract, and Paxos retained an issuer fee while paying out the remaining yield based on prevailing daily market conditions. Minting of new tokens ended on October 8, 2025, as part of the wind-down of the USDL Lift Dollar stablecoin. Developers could access a testnet faucet and open-source smart contracts to support integration and transparency, but these resources were for development and testing, not for mining or earning consensus rewards.

How to keep your Lift Dollar Coin safe?

Because USDL is an ERC-20 token on Ethereum and also available on Arbitrum, standard EVM-compatible wallet security practices apply. Users should store USDL in a reputable self-custody wallet that supports Ethereum and Arbitrum, and should safeguard private keys and seed phrases offline, never sharing them with anyone. Hardware wallets are recommended for larger holdings. When interacting with smart contracts, users should verify contract addresses through official documentation at docs.liftdollar.com and the project's official channels, and should be cautious of phishing sites and fake tokens. Since USDL has been deprecated and the USDL token contracts are no longer active, holders should be aware that airdropped USDG on Ethereum serves as the replacement token, and they should verify any migration or airdrop instructions through official Paxos newsroom announcements. Paxos stated that reserves and yield generation were audited and published monthly, so users could monitor reserve backing. Eligibility restrictions mean USDL was not available to US residents or customers in certain countries, and users should ensure they comply with applicable regulations in their jurisdiction. General precautions include keeping software updated, using unique strong passwords, enabling two-factor authentication where available, and double-checking addresses before sending transactions.