what's Tangent Finance?

Tangent Finance is a DeFi protocol launching USG, a decentralized over-collateralized stablecoin that unlocks liquidity from yield-bearing assets. Users deposit productive LP tokens from protocols like Curve, ConvexFinance, and StakeDAO, as well as Pendle PTs and other assets, to mint USG via Collateralized Debt Positions (CDPs). This enables capital-efficient strategies such as leveraged yield farming, hedging, or spending without liquidating positions, while retaining collateral rewards. The protocol features two market types: LEC markets allow full reward retention with dynamic interest based on USG's peg stability, and HEC markets offer 0% interest borrowing by deducting a portion of rewards, with interest only if USG depegs. sUSG provides a yield-bearing ERC-4626 wrapper for seamless DeFi composability. Governance and protocol earnings are captured by the TAN token, ensuring sustainable operations without inflationary emissions.

Tangent Finance's USG is a CDP stablecoin backed by Curve LP tokens, using frxUSD PegKeeper.