In digital asset management, stablecoins have long served as a trading medium and a safe-haven tool. However, when the market is in a wait-and-see phase, large amounts of idle stablecoins sitting in user accounts create an opportunity cost that can’t be ignored. GUSD’s design goal is to keep this portion of capital liquid while still generating ongoing returns. In 2026, Gate officially launched the RWA wealth-management certificate for GUSD, and it is gradually expanding into multiple wealth-management scenarios across the platform.
Based on Gate’s market data, as of September 20, 2026, the reference annualized yield for GUSD’s on-demand U.S. Treasury is 3.60%. Total subscription volume reached 207 million. GUSD supports subscriptions with three stablecoins—USDT, USDC, and USD1—in a 1:1 ratio. Beyond base returns, GUSD’s core value lies in its composability—one and the same asset can participate in multiple wealth-management scenarios at the same time, improving capital efficiency.
Source: GUSD On-demand U.S. Treasury
GUSD product logic and return sources
GUSD is a Gate-issued on-demand, principal-protected wealth-management product. Users can subscribe using USDT, USDC, or USD1 at a 1:1 ratio to receive it. Its returns come from three channels: Gate ecosystem revenue, treasury-like real-world assets (RWA), and high-quality yield assets backed by stablecoins. Tokenized U.S. Treasuries are one of the most important asset categories in the RWA space. By 2026, the total market capitalization of tokenized U.S. Treasury funds has exceeded $15 billion, covering around 100 products. GUSD’s return structure combines crypto-ecosystem income with traditional financial asset returns, creating diversified return sources.
When it comes to subscriptions and redemptions, GUSD supports subscribing and redeeming at any time. When redeeming using the original subscribed asset, users can enjoy a 1:1 no-loss exit with no redemption fee. The amount of GUSD redeemed will stop generating returns. Users should arrange their redemption cadence reasonably based on their capital plan.
Use GUSD in Launchpool to stack returns
Launchpool is a typical application of GUSD’s composability. Users stake GUSD into the Launchpool mining pools, which allows them to receive token rewards for new projects at the same time. Meanwhile, the underlying GUSD continues to generate on-demand U.S. Treasury yield. Taking Gate’s previously run SPCX project as an example, the reference annualized yield of the GUSD-staked pool is 8.38%. When you stack GUSD base returns of 3.60%, the combined expected annualized yield can reach 11.98%. Note that Launchpool’s annualized yield fluctuates in real time based on the total amount staked in the pool and the reward amount; actual returns are subject to settlement.
The logic behind this model is simple: users don’t give up the stable return from the underlying assets just because they participate in a new project. Instead, they can earn additional incentives while keeping the base returns intact.
Source: GUSD On-demand U.S. Treasury
GUSD as collateral and as unified account margin
GUSD can be used as collateral to borrow assets. When users use GUSD as collateral to borrow other assets, the pledged GUSD continues to generate returns, enabling borrowing capability and return generation to run in parallel. This feature fits users who have short-term liquidity needs but don’t want to sell their holdings.
GUSD also supports use as unified account margin, covering the classic spot margin model, single-coin margin, cross-coin margin, and portfolio margin. Users can choose the appropriate margin mode based on their asset situation and trading strategy. This means that while GUSD performs the function of margin, it still retains the ability to accumulate returns.
Differences between GUSD and Yu’e Bao (Remainder Treasure) investments with two-asset exposure
Although Yu’e Bao and GUSD on-demand U.S. Treasury are both part of the wealth-management menu, the participation methods differ. Yu’e Bao requires users to actively subscribe idle tokens into an on-demand or term wealth-management path. GUSD on-demand U.S. Treasury requires users to actively subscribe and hold GUSD in order to earn U.S. Treasury-related returns.
It’s worth noting that GUSD is not used directly in Yu’e Bao and two-asset investment products. However, users can use GUSD to participate in other wealth-management products such as Launchpool and Pre-IPOs to stack returns. In Gate’s wealth-management ecosystem, each product has its own focus, including on-demand wealth management, earning on-chain, two-asset investing, VIP term wealth management, and idle-capital wealth products. In these, GUSD plays a bridge role connecting stablecoin holdings with RWA returns.
GUSD’s fit with the market environment
Based on current market data, volatility in crypto assets continues. As of September 20, 2026, according to Gate’s market data, the Bitcoin price is $81,217.0, down 33.94% over the past year; the Ethereum price is $2,629.30, down 45.90% over the past year. Gate’s platform token doge head is currently priced at $10.58.
In this market environment, demand for stablecoin wealth-management products continues to rise. GUSD’s reference annualized yield of 3.60% sits at a mid-range level among stablecoin wealth-management products. Its key advantages are the flexible redemption mechanism and a combination of multi-scenario applications. As Gate pointed out in its 2026 wealth management interim report, more funds are flowing into on-chain dollar assets. Market demand for steady returns and high-liquidity products continues to grow.
Considerations when participating in GUSD wealth management
When using GUSD to participate in other wealth-management scenarios, users should pay attention to the following:
Returns begin to accrue starting the day after subscription. Daily returns are distributed in the form of GUSD to the spot account or trading account. To generate returns, users must hold a minimum balance of no less than 0.01 GUSD.
GUSD product yield rates will be adjusted periodically in line with U.S. Treasury market fluctuations. Please refer to the real-time display on the subscription page.
The annualized yields of activities such as Launchpool are estimates, not fixed values. They will fluctuate in real time based on the pool’s total staked amount and the reward amount.
Although GUSD is a on-demand, principal-protected product, the overall crypto market is highly volatile. Before participating in any wealth-management product, users should fully understand the product’s characteristics and their own risk tolerance.
Conclusion
GUSD’s value in Gate’s wealth-management ecosystem is reflected not only in its base returns at the reference annualized yield of 3.60%, but also—more importantly—in its composability. The same asset can be applied across multiple scenarios at once, such as Launchpool staking, collateralized borrowing, and unified account margin. For users who are relatively active within the Gate ecosystem, GUSD can provide a capital tool for participating in other products without sacrificing the return on underlying assets, thereby improving overall capital efficiency. Understanding how GUSD works and how it fits different scenarios can help users make reasonable asset allocation decisions based on their own capital plans.
FAQ
What are GUSD’s sources of returns?
GUSD’s returns come from Gate ecosystem revenue, treasury-like real-world assets, and high-quality yield assets backed by stablecoins. Its current reference annualized yield is 3.60%. Returns are distributed daily in the form of GUSD to the spot account. Returns begin accruing starting the day after subscription.
How does GUSD generate multiple layers of returns?
Holding GUSD lets users participate in wealth-management products such as Launchpool and Pre-IPOs. During the investment period, users enjoy both the corresponding product returns and on-demand U.S. Treasury returns from GUSD. For example, in Launchpool, the GUSD staking pool’s returns stack on top of the base returns, and the combined expected annualized yield may increase further.
Can GUSD be used as collateral?
Yes. GUSD supports being used as collateral for collateralized borrowing, and it can also be used as unified account margin. During the collateral period, the pledged GUSD continues generating returns, enabling borrowing capability and return generation to run in parallel.
Is GUSD redemption charged?
When redeeming using the original subscribed asset, you can enjoy a 1:1 no-loss exit with no redemption fee. It supports both quick redemptions and standard redemptions. The GUSD amount being redeemed will stop generating returns. The specific time when funds arrive depends on what’s shown on the redemption page.
What’s the difference between GUSD and Yu’e Bao?
Yu’e Bao requires users to actively subscribe idle tokens into an on-demand or term wealth-management path. GUSD on-demand U.S. Treasury requires users to actively subscribe and hold GUSD to earn interest based on U.S. Treasury-related sources. The participation methods and interest calculation logic differ between the two. Both are part of the wealth-management menu, but that doesn’t mean their eligibility is the same.
