DDUSD · USD-Pegged Stablecoin · Built on DDCP

The Better Money

Stable.  Private.  Unfreezable.  Open-source.

The first stablecoin on Solana with no issuer freeze key. Amount and balance privacy via ZK ElGamal. Prospective GENIUS Act Permitted Payment Stablecoin Issuer applicant with the OCC.

OCC Comment Letter Why we built this
What makes it different

Two properties no other stablecoin on Solana delivers

01
No issuer freeze key
USDC and USDT maintain a protocol-level administrative key enabling the issuer to freeze any wallet by database update — no court order required. DDUSD has no such key. The freeze capability does not exist at the protocol layer for self-custody wallets. This is the architectural design, not a policy setting.

Enforcement access remains fully available to law enforcement acting under valid judicial authority through Financial Intermediary layer coordination — the same procedural distinction society applies to physical cash versus bank accounts.
02
Amount and balance privacy via ZK ElGamal
Every USDC and USDT transfer publishes its amount publicly on-chain. DDUSD uses Token-2022 Confidential Balances: transfer amounts and account balances are hidden from on-chain observers using ZK ElGamal proofs verified natively on Solana.

DDUSD does not provision an issuer auditor decryption key — competing implementations (notably PYUSD) include a dormant key that would allow the issuer to decrypt user balances. DDUSD's compliance path is the Financial Intermediary boundary, not protocol-level issuer decryption.
03
Full Solana DeFi composability
Self-custody wallets hold a confidential balance by default. Users who wish to participate in DeFi — Orca, Jupiter, Kamino, MarginFi — move to a public balance through a deliberate unshielding step. This preserves full composability with Solana's DeFi ecosystem without fragmenting liquidity.

Privacy applies in self-custody. DeFi and custodial use is the bank account analogy: amounts are visible in that context, consistent with DDCP's broader architecture.
04
Open-source and publicly verifiable
The SPL token contract, Token-2022 Confidential Balances integration, and reserve architecture are published at github.com/ddcprotocol. The absence of a freeze key is verifiable in the source code — not a claim that requires trusting the issuer.

Proof-of-reserve attestation and outstanding issuance value are tracked on-chain. Every mint event is publicly visible and auditable regardless of recipient type.
Regulatory posture

GENIUS Act compliance without a centralized administrative key

DDUSD, LLC is a prospective Permitted Payment Stablecoin Issuer (PPSI) applicant under the GENIUS Act, intending to file with the OCC. The OCC comment record addresses the open interpretive question directly: whether the GENIUS Act's lawful order compliance requirement mandates a protocol-level administrative key, or whether compliance through co-signature authority and Financial Intermediary coordination is sufficient.

DDUSD, LLC possesses three compliance capabilities through co-signature authority and Financial Intermediary coordination: (1) refuse new issuance to a person identified by FI-layer KYC records as the subject of a lawful order; (2) refuse redemption of tokens presented by or on behalf of that person; and (3) execute a burn of tokens held in custodial relationships at FI-layer entities when presented by the FI acting under a lawful order. These three capabilities cover the GENIUS Act's full set of lawful order verbs for the custodial population.

The self-custody wallet question is an open interpretive question addressed through pre-application engagement with OCC licensing staff. EO 14178 is the primary argument that the statute does not require protocol-level override against self-custody wallets — a reading that would create the CBDC architecture the Executive Order was designed to prevent.

Public record

Filings, architecture, and source code

OCC Comment · Filed May 1, 2026 · OCC-2025-0372-0257 Comment on GENIUS Act PPSI Framework The primary OCC record. Argues compliance through co-signature authority and FI-layer coordination satisfies the GENIUS Act without a centralized administrative key. OCC Supplementary Comment · Filed May 20, 2026 · OCC-2025-0372-0349 Supplementary Comment — ROAD Act, CLARITY Act, and Architectural Pluralism Addresses the ROAD Act and CLARITY Act frameworks and the architectural pluralism argument. Governing OCC record for all pre-application engagement. Technical Architecture DDCP Architecture Technical Overview Token-2022 Confidential Balances integration, Financial Intermediary boundary design, and the no-freeze architecture specification. Manifesto Why we built DDUSD: the case against programmable financial control The foundational argument. The Canadian bank freeze. The Tornado Cash episode. The design position on financial surveillance and procedural safeguards. GitHub github.com/ddcprotocol Open-source protocol specification, SPL token contract, and regulatory filings. The freeze key absence is verifiable in the source code. Protocol DDCP — The Decentralized Digital Currency Protocol DDUSD is the first token deployment on DDCP. The protocol enables any operator to deploy a local-currency stablecoin with the same no-freeze, privacy-preserving architecture.