What is USDG?
Built to power global stable coin adoption, USDG is an ERC-20 token built on the Ethereum platform which aims to maintain the price of 1 USD per 1 USDG. Learn more about USDG on our blog here.
Who is the issuer of USDG?
USDG is issued by Paxos Digital Singapore Pte. Ltd. (PDS), which has been approved by the Monetary Authority of Singapore to offer digital payment token services as a Major Payments Institution. The approval enables PDS to issue USDG, a stablecoin compliant with MAS’ upcoming stablecoin framework.
Will USDG maintain its peg?
USDG is backed by high-quality reserves such as U.S. Treasury Bills, and with transparent, monthly attestations by Enrome LLP, an independent third-party accounting firm. This examination is conducted in accordance with standards established by the Institute of Singapore Chartered Accountants. You can view these attestations here. As with all stablecoins, however, there is a risk of depegging events.
What are USDG rewards?
USDG Rewards is a program that allows you to earn rewards on the USDG you hold in your Kraken account. Simply buy, convert or transfer USDG into your Kraken account and start earning rewards automatically.
Converting USD to USDG is completely free, this means you can start earning rewards without any additional costs.
How do I start earning USDG rewards?
You begin earning rewards immediately and eligible users are automatically enrolled into the rewards program. As soon as USDG is in your account, rewards start accruing automatically - make sure you have your Reward settings turned on.
To start, simply buy USDG or convert USD to USDG with 0 fees to start earning. You can hold any amount of USDG in your Kraken account.
How much can you earn?
The USDG Rewards rate is set by Kraken. The USDG Rewards rates can vary depending on your location, ongoing experimentation, and account type. The APR rate is set by Kraken and can change at any time. We will notify you if the APR changes.
- •Kraken+ subscribers: Earn up to 4%+ APR.
- •Non-subscribers: Earn up to 2% APR.
Please note: There are currently no fees for USDG Rewards. The APRs shown are an estimate of the rewards you could receive on the USDG you hold.
Where do USDG rewards come from?
Kraken will not use any USDG held in your Kraken account. The USDG Rewards program is a loyalty initiative fully funded by Kraken, created to encourage users to hold their USDG with us and explore our services. Your assets are entirely under your control, and we only act on them based on your explicit instructions. We retain the right to modify or end the USDG Rewards program at any time, with reasonable notice.
Are there any fees to convert USD to USDG?
No. Convert USD to USDG on a 1:1 basis without fees, allowing your entire balance to work harder for you without any hidden costs.
When and how are rewards distributed?
Rewards are paid out on a weekly basis, directly into your account. You’ll see your USDG balance grow consistently each week as these rewards are credited.
Are there any limits?
You can hold and earn rewards on any amount of USDG. There is no minimum time required to hold USDG needed to earn rewards.
Can I trade, withdraw, or reinvest my USDG at any time?
You have full flexibility to trade, withdraw, or reinvest USDG whenever you choose.
Am I eligible for USDG Rewards?
Your account must be a verified intermediate or pro level account. If your account has been restricted, you will continue to earn rewards on your USDG balances, however you may not be able to access these rewards while your account remains restricted.
Geographic restrictions apply. You can check your eligibility for USDG Rewards under your country listed here. If USDG Rewards is not showing as an option for your account, you may not be eligible.
Why do my rewards say “0”?
Rewards below five decimal places will only display on exported ledger history, since the Kraken website truncates to five decimal places.
How do I opt-out of USDG rewards on Kraken web?
- 1.Sign in to your Kraken account.
- 2.Click on the Profile icon in the top menu and select Settings.
- 3.Click on the ‘USDG Rewards’ toggle in the ‘Rewards programs’ section.
How do I opt-out of USDG rewards on the Kraken app?
- 1.Sign in to your Kraken account.
- 2.Open the Kraken mobile app and tap on your account icon.
- 3.Select ‘Rewards’ from the list.
- 4.Tap on the ‘USDG Rewards’ toggle.
How do I opt-out of USDG rewards on the Kraken Pro web?
- 1.Sign in to your Kraken Pro account.
- 2.Click on Profile icon in the top menu and select Settings.
- 3.Click on the ‘USDG Rewards’ toggle in the 'Auto Earn programs’ section.
How do I opt-out of USDG rewards on the Kraken Pro app?
- 1.Sign in to your Kraken Pro account.
- 2.Open the Kraken Pro mobile app and tap on the Profile icon.
- 3.Tap on User Profile.
- 4.Select Kraken Rewards.
- 5.Tap on the ‘USDG rewards’ toggle.
