Pleasing USD

PUSD

Stablecoin, stable asset weights

STRICT score withheld.Score opens with Pro

Sustainabilitywithheld×0.28–

Transparencywithheld×0.24–

Revenuewithheld×0.08–

Innovationwithheld×0.08–

Communitywithheld×0.12–

Tokenomicswithheld×0.20–

Weights are public.

The full report. Score, pillars, arithmetic, risk, scenario, signal and notes.

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Research, not financial advice. Read the terms.

About Pleasing USD

Analysis of 2 Jun 2026

Pleasing USD (PUSD) is a catastrophically failed synthetic stablecoin from Pleasing International, a licensed precious metals enterprise based in Hong Kong. Launched in October 2025 and deployed on Arbitrum and ApeChain, PUSD was designed to connect on-chain liquidity with physical gold markets through a hybrid reserve of USDT collateral and tokenized metal exposure via PGOLD (each representing 1 oz of LBMA-certified physical gold).

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As of June 2026, the stablecoin remains in complete failure with price stuck at $0.0658 (93% below its $1.00 peg) for over eight months. Trading volume remains critically low at $2,667.88 per 24 hours on Uniswap V3 (Arbitrum), making exit positions virtually impossible.

Circulating supply is unreported and the project ranks #39,386 by market cap. Despite technical infrastructure including LayerZero for cross-chain interoperability and Chainlink for pricing, the hybrid backing model has shown no recovery mechanism, and the team has provided zero crisis communication or recovery plan since the initial depeg began in late 2025.

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