# Table of Contents - [Welcome to DRE | DRE Docs](#welcome-to-dre-dre-docs) - [Why DRE? | DRE Docs](#why-dre-dre-docs) - [Asset Backing | DRE Docs](#asset-backing-dre-docs) - [How DRE works | DRE Docs](#how-dre-works-dre-docs) - [Market Opportunity | DRE Docs](#market-opportunity-dre-docs) - [Proof of Reserves | DRE Docs](#proof-of-reserves-dre-docs) - [dreUSDs | DRE Docs](#dreusds-dre-docs) - [Brand Guide | DRE Docs](#brand-guide-dre-docs) - [Asset Eligibility Framework | DRE Docs](#asset-eligibility-framework-dre-docs) - [Oracles | DRE Docs](#oracles-dre-docs) - [dreUSD | DRE Docs](#dreusd-dre-docs) - [Governance | DRE Docs](#governance-dre-docs) - [Risks | DRE Docs](#risks-dre-docs) - [DRE Points | DRE Docs](#dre-points-dre-docs) - [Audits | DRE Docs](#audits-dre-docs) - [Contracts Overview | DRE Docs](#contracts-overview-dre-docs) - [Contract Addresses | DRE Docs](#contract-addresses-dre-docs) - [FAQ's | DRE Docs](#faq-s-dre-docs) - [Welcome to DRE | DRE Docs](#welcome-to-dre-dre-docs) - [dreUSD | DRE Docs](#dreusd-dre-docs) - [Contracts Overview | DRE Docs](#contracts-overview-dre-docs) - [DRE Points | DRE Docs](#dre-points-dre-docs) - [Audits | DRE Docs](#audits-dre-docs) - [Brand Guide | DRE Docs](#brand-guide-dre-docs) --- # Welcome to DRE | DRE Docs What if your money earned for you the way it earns for your bank? Every dollar you deposit funds property & real estate credit, secured loans, and cash equivalents that generate steady returns. Banks have maximized those returns for shareholders, not depositors. DRE is changing this. **Introducing dreUSD and dreUSDs** **dreUSD** is a fully backed stablecoin pegged to the US dollar, backed by real assets, and redeemable any time. Fully composable in DeFi and CeFi. **dreUSDs** is the savings token that captures rewards from the assets backing dreUSD. Convert dreUSD to dreUSDs and rewards accumulate automatically. No lock-ups, no active management. Convert back instantly whenever you want. **Real Assets, Real Rewards** Borrowers pay interest on their loans and cash instruments earn market rates. These asset classes have generated steady returns for banks and institutions for decades. DRE lets you benefit from them. **Transparency & Verification** Watch your money grow daily. The Transparency Dashboard shows where every dollar is allocated and how rewards are generated. Independent audits and regular 3rd party verification ensures DRE reports asset backing accurately. ### [](https://docs.dre.app/#connect-with-dre) Connect with DRE * Website: [https://dre.app](https://dre.app/) * X: [https://x.com/dre\_app](https://x.com/dre_app) * Telegram: [https://t.me/dre\_app](https://t.me/dre_app) [NextWhy DRE?](https://docs.dre.app/overview/why-dre) Last updated 1 month ago --- # Why DRE? | DRE Docs ### [](https://docs.dre.app/overview/why-dre#the-problem) The Problem Banks take your money and earn on your deposits by funding lending operations, and the bank keeps most of what those assets earn. When you deposit money at a traditional bank: * The bank lends it across mortgages at 6-7%, personal loans at 10-12%, and credit cards at 20-23% * You receive a fraction of a percent * The bank captures the difference Your capital generates returns. You just never see them. The current financial system works because opacity is built in. You can't audit where your funds go. You can't verify what they generate. You accept the rate offered because better alternatives have been out of reach. ### [](https://docs.dre.app/overview/why-dre#what-dre-does-differently) What DRE Does Differently DRE gives you exposure to the same asset classes banks use to generate value and DRE shares the returns with you instead of a bank's shareholders. dreUSD is the stablecoin. dreUSDs is the savings token that earns. Converting between them is instant, with no lock-ups. Exchange to USDC instantly with a swap, or use the 6 hour express option or 7 days standard redemption for large positions. ### [](https://docs.dre.app/overview/why-dre#why-this-works) Why This Works #### [](https://docs.dre.app/overview/why-dre#returns-independent-of-crypto) Returns independent of crypto Borrowers pay their loans whether Bitcoin is at $100,000 or $30,000. dreUSD asset backing returns are driven by real tangible assets, not token emissions or funding rates that disappear in bear markets. These assets have nearly a century of performance data and they are boring and predictable by design. #### [](https://docs.dre.app/overview/why-dre#transparent-and-verifiable) Transparent and verifiable Every dreUSD is backed by reserves held by regulated custodians and verified through independent auditors. Third-party verifiers review the auditors' work. A public Transparency Dashboard displays reserve composition, reserve ratios, and verification status. The verification chain is designed so that no single party, including DRE, controls the full picture. For details, see [Proof of Reserves](https://docs.dre.app/stablecoin/proof-of-reserves) . #### [](https://docs.dre.app/overview/why-dre#non-custodial-wallets) Non-custodial Wallets Your funds sits in your own wallet, not in a bank account. You control your funds. [PreviousWelcome to DRE](https://docs.dre.app/) [NextHow DRE works](https://docs.dre.app/overview/how-dre-works) Last updated 5 days ago --- # Asset Backing | DRE Docs Every dreUSD in circulation is backed by real-world assets held at regulated custodians. dreUSD is over-collateralized, meaning the total value of backing assets exceeds the total supply of dreUSD. ### [](https://docs.dre.app/stablecoin/asset-backing#asset-backing-composition) Asset Backing Composition Assets are allocated across 3 categories. Each serves a distinct role in balancing returns, liquidity, and risk. #### [](https://docs.dre.app/stablecoin/asset-backing#property-credit) Property Credit Secured lending against real property. Borrowers pay interest on these loans, and that interest is the primary source of returns for dreUSDs holders. Property credit is among the most established asset classes in finance, with nearly a century of performance data across economic cycles. These loans are backed by physical collateral (the property itself), which provides a recovery path if a borrower defaults. Property credit can also be sold on secondary markets (markets where existing loans are traded between investors), providing liquidity when needed. Returns from property credit are driven by borrower interest payments, which are tied to lending rates and housing demand. These factors operate independently of crypto market conditions. Why DRE Property Credit is Superior: 1. DRE exclusively operates in senior property credit positions, ensuring it holds first rights of recovery across all underlying assets. 2. Each investment is subject to a strict and disciplined [eligibility framework](https://docs.dre.app/stablecoin/asset-eligibility-framework) , with only high quality opportunities meeting DRE’s approval standards. 3. All senior property credit exposures are supported by a dedicated standby backstop facility, designed to provide liquidity and ensure the timely repayment of DRE positions. #### [](https://docs.dre.app/stablecoin/asset-backing#secured-loans) Secured Loans Short duration loans secured by high quality collateral. Allocations are selected for credit quality, collateral strength, and short tenor. Details on structure, eligibility, and partners will be published as this allocation is finalized. #### [](https://docs.dre.app/stablecoin/asset-backing#cash-equivalents) Cash Equivalents Short term, highly liquid instruments such as money market funds and Treasury bills. Cash equivalents serve as the liquidity buffer, ensuring the protocol can meet redemption demand without selling longer duration assets at a discount. This allocation prioritizes capital preservation and immediate availability over returns. ### [](https://docs.dre.app/stablecoin/asset-backing#custody-and-management) Custody and Management Deposited stablecoins and the resulting reserve assets are held at regulated custodians and partners. The protocol does not self-custody assets. DRE's custodian and trustee is [TMF Group](https://www.tmf-group.com/) , a global independent fund services provider operating in over 80 jurisdictions. TMF acts as custodian and trustee at arm's length from DRE. They hold no operational role in DRE and have no involvement in investment decisions. DRE manages allocation decisions. TMF holds assets in a trust structure established specifically for DRE. The trust is bankruptcy remote, meaning depositor assets are legally segregated from DRE's operational accounts, from TMF's own balance sheet, and from borrower assets ### [](https://docs.dre.app/stablecoin/asset-backing#how-property-credit-is-structured) How Property Credit is Structured When deposited funds are allocated to property credit, the path from deposit to mortgage follows a defined chain: 1. **Deposit:** Users deposit USDC and mint dreUSD. Deposited funds are routed to TMF, the custodian and trustee. 2. **Allocation:** TMF allocates capital into secured property credit through a dedicated trust structure established for DRE. 3. **Lending:** The trust makes individual loans to standalone property SPVs (special purpose vehicles). Each property is held in its own SPV, providing compartmentalization between loans. There is no cross-collateralization across properties. 4. **Security:** DRE holds senior mortgage positions on all property credit exposures, with full mortgagee rights and powers. This means DRE is first in line for recovery on the underlying property if a borrower defaults. The trust structure ensures depositor funds remain segregated at every stage. No assets are commingled across strategies, ventures, or other parties. ### [](https://docs.dre.app/stablecoin/asset-backing#structural-safeguards) Structural Safeguards DRE's off-chain asset structure includes multiple layers of protection for depositors: **Bankruptcy remoteness:** Depositor funds are held in a trust that is legally separate from DRE's operating entity, from the trustee's own assets, and from any borrower. If any single party in the chain were to face financial difficulty, depositor assets remain protected within the trust. **No commingling:** Each property loan is held in a standalone SPV. Depositor funds are not mixed with other strategies, ventures, or investor pools. One lending pool, one portfolio. **Independent oversight:** Multiple independent parties provide oversight across the assets. No single party controls the full picture. **Audited financials:** The trust produces externally prepared quarterly financial reports and is audited at the end of each financial year. These reports are part of DRE's attestation package and are made available through the Transparency Dashboard. **Regulatory framework:** All off-chain asset management operates within a regulated framework. The custodian is licensed, insured, and subject to ongoing compliance obligations. DRE's property credit activities operate under established Australian financial services regulations. ### [](https://docs.dre.app/stablecoin/asset-backing#verification) Verification The asset backing is verifiable through multiple channels: * **Proof of reserves:** Attestations published confirm that dreUSD is fully backed. These attestations are generated by third-parties. * **Independent audits:** Backing composition and asset valuations are audited by a leading global audit firm. Smart contracts are audited by independent security audit firms. * **Transparent supply:** dreUSD total supply is readable on-chain at any time. The ratio of backing assets to circulating supply is publicly verifiable. [PreviousdreUSDs](https://docs.dre.app/stablecoin/dreusds) [NextAsset Eligibility Framework](https://docs.dre.app/stablecoin/asset-eligibility-framework) Last updated 1 month ago --- # How DRE works | DRE Docs DRE introduces dreUSD, a fully backed stablecoin pegged to the US dollar. Deposit USDC to mint dreUSD. ### [](https://docs.dre.app/overview/how-dre-works#the-2-token-model) The 2 Token Model DRE uses 2 tokens that serve different purposes: **dreUSD** is the base stablecoin pegged to $1 USD. Deposit USDC, redeem for USDC. dreUSD does not earn rewards on its own. **dreUSDs** is the savings token. Convert dreUSD to dreUSDs to start earning rewards. The value of dreUSDs increases over time as rewards from the reserves are distributed to holders. Converting between them is instant with no lock up period. How Your Money Earns Rewards DRE works with licensed fund managers to allocate deposited funds across three asset categories: 1. Property & Real Estate Credit: Secured lending against real property. Primary source of returns. 2. Secured Loans: Short duration loans backed by high quality collateral. 3. Cash Equivalents: Short term liquid instruments for fast redemptions. These assets generate income. Borrowers make interest payments at regular intervals. Income generated by the underlying assets is distributed to dreUSDs holders, increasing value over time. ### [](https://docs.dre.app/overview/how-dre-works#withdrawals) Withdrawals Convert dreUSDs back to dreUSD instantly, then redeem dreUSD through two paths: Express takes approximately 6 hours with a small fee. Standard takes approximately 7 days with no fee. When you request a redemption, you receive an NFT that tracks your claim until the request is automatically fulfilled. [PreviousWhy DRE?](https://docs.dre.app/overview/why-dre) [NextMarket Opportunity](https://docs.dre.app/overview/market-opportunity) Last updated 5 days ago --- # Market Opportunity | DRE Docs ### [](https://docs.dre.app/overview/market-opportunity#the-opportunity-in-property-credit) The Opportunity in Property Credit Property credit is one of the largest and most established asset classes in the world. Banks have dominated this market for decades, using depositor funds to originate mortgages and capturing the majority of returns for their shareholders. The underlying asset class has performed consistently across economic cycles, with nearly a century of data backing its resilience. Until recently, direct access to property credit returns was limited to banks, institutional lenders, and private credit funds with high minimums. Crypto infrastructure changes that. Blockchain based settlement, transparent on-chain accounting, and programmable stablecoins make it possible to give individuals direct access to the same returns that institutions have captured for generations. DRE starts with Australian property credit and will expand into additional markets over time. The model is designed to scale across geographies. ### [](https://docs.dre.app/overview/market-opportunity#why-australia-first) Why Australia First Australia has a clear legal and regulatory framework for lending and property enforcement, creating a safe, reliable, and consistent source of revenue for dreUSDs. The land registry system is transparent and government operated, providing a verifiable chain of title and security for mortgage lenders. **Market fundamentals:** Sydney and broader NSW property markets have strong demand fundamentals driven by population growth, constrained land supply in key corridors, and consistent long term price appreciation. Australia has experienced decades of continuous property value growth across major metropolitan areas. **Low natural disaster exposure:** Compared to other major global markets, Sydney and the target regions carry minimal exposure to earthquakes, hurricanes, tsunamis, or major flood events. This reduces catastrophic loss risk on the underlying collateral. **Strong regulatory environment:** Australia maintains a high compliance regime for construction and property development. Regulatory protections were strengthened following building quality events, and low to medium density development is particularly well regulated. DRE focuses exclusively on this segment. **Macro stability**: Australia has one of the lowest government debt to GDP ratios among OECD countries, providing a stable macroeconomic backdrop for property markets and currency stability. ### [](https://docs.dre.app/overview/market-opportunity#the-broader-vision) The Broader Vision Australia is the starting point. DRE's property credit model is built to expand into additional markets where strong legal frameworks, transparent land registries, and established lending infrastructure exist. Beyond property credit, DRE's reserve structure already includes secured loans and cash equivalents. Over time, the range of real world assets backing dreUSD can grow as new opportunities meet DRE's eligibility standards. [PreviousHow DRE works](https://docs.dre.app/overview/how-dre-works) [NextdreUSD](https://docs.dre.app/stablecoin/dreusd) Last updated 5 days ago --- # Proof of Reserves | DRE Docs Every dreUSD is fully reserved. DRE publishes a live transparency dashboard and independent monthly attestations so holders and regulators can verify this at any time. ### [](https://docs.dre.app/stablecoin/proof-of-reserves#custody) Custody Reserves are held with regulated, qualified custodians. Assets sit in segregated accounts held for the benefit of dreUSD holders. ### [](https://docs.dre.app/stablecoin/proof-of-reserves#independent-attestation) Independent attestation DRE's reserves are examined by an independent global audit firm on two cadences: * **Monthly attestation.** A signed report issued within 10 business days of each month-end. * **Annual audited financial statements.** A full-year audit covering reserves and financial performance. Each examination confirms the total value of reserve assets, the composition across each reserve category, and that total reserve value meets or exceeds circulating dreUSD supply. Reports are conducted under established professional standards and signed by the engaging partner. Additional independent verifiers will be added over time to expand the layers of review. ### [](https://docs.dre.app/stablecoin/proof-of-reserves#transparency-dashboard) Transparency dashboard DRE's live Transparency Dashboard is the primary surface for verifying reserves. It shows circulating dreUSD supply, total reserve value, composition by reserve category, and links to the most recent and historical attestation reports. [PreviousAsset Eligibility Framework](https://docs.dre.app/stablecoin/asset-eligibility-framework) [NextOracles](https://docs.dre.app/stablecoin/oracles) Last updated 1 month ago --- # dreUSDs | DRE Docs dreUSDs is the savings token of DRE. Earn rewards by holding dreUSDs. As rewards accumulate, the value of each share increases. Redeem shares of dreUSDs for more dreUSD at a later date. ### [](https://docs.dre.app/stablecoin/dreusds#how-rewards-work) How Rewards Work Rewards come from interest generated by the assets backing dreUSD. 1. Property credit borrowers make interest payments and cash equivalents earn market rates. 2. Earnings are converted to dreUSD and sent to dreUSDs holders. 3. New rewards vest linearly before they are transferred to the vault. This protects existing holders from someone depositing right before a reward distribution and withdrawing right after to capture a disproportionate share. 4. As rewards vest, the value of each dreUSDs shares increase. ### [](https://docs.dre.app/stablecoin/dreusds#share-price) Share Price The value of dreUSDs increases over time as rewards enter the vault. It can never decrease. When you convert dreUSD to dreUSDs, you receive shares based on the current share price. As rewards accumulate, each share becomes worth more dreUSD. **Example:** You deposit 10,000 dreUSD into dreUSDs. After the vault accrues 5% in rewards, your dreUSDs is now redeemable for 10,500 dreUSD. ### [](https://docs.dre.app/stablecoin/dreusds#depositing) Depositing Deposit dreUSD into dreUSDs to start earning. There is no minimum deposit and no lock-up period. Two paths are available: * **Direct deposit:** Deposit dreUSD directly into dreUSDs. * **Mint and deposit:** Go from USDC to dreUSDs in a single transaction. dreUSD is minted and deposited in one step. The share price is always current at the time of deposit. ### [](https://docs.dre.app/stablecoin/dreusds#withdrawing) Withdrawing Convert dreUSDs back to dreUSD at any time. There is no lock-up or cooldown. To exit to USDC, a separate withdrawal is required. See [Redemptions](https://docs.dre.app/stablecoin/dreusd#redemptions) . ### [](https://docs.dre.app/stablecoin/dreusds#cross-chain) Cross-Chain dreUSDs is available across multiple chains via LayerZero's cross-chain infrastructure: * **Hub chain (Base):** The dreUSDs vault and reward distribution live on Base. All deposits and reward accrual happen here. * **Spoke chains:** Users on other chains can deposit dreUSD and receive dreUSDs shares without manually bridging. Bridged dreUSD is deposited into the vault on Base, and shares are returned to the originating chain. ### [](https://docs.dre.app/stablecoin/dreusds#compliance) Compliance dreUSDs inherits the same compliance checks as dreUSD. All transfers, deposits, and withdrawals are validated against the Chainalysis sanctions oracle and DRE freeze list. Sanctioned or frozen addresses cannot deposit, withdraw, or transfer dreUSDs. [PreviousdreUSD](https://docs.dre.app/stablecoin/dreusd) [NextAsset Backing](https://docs.dre.app/stablecoin/asset-backing) Last updated 5 days ago --- # Brand Guide | DRE Docs ### [](https://docs.dre.app/resources/brand-guide#about-dre) About DRE **Short description:** DRE is the next evolution of banking. Your deposits earn real returns from mortgages, bonds, and cash. One app to save, spend, invest, and move money globally. **Long description:** We connect your money directly to the same assets banks use: mortgages, bonds, and cash instruments. The difference is where the returns go. At a bank, shareholders keep the spread. At DRE, the majority flows back to you. One app handles saving, spending, investing, and global payments. No crypto knowledge required. No hidden fees. Your money actually works for you. ### [](https://docs.dre.app/resources/brand-guide#logo) Logo #### [](https://docs.dre.app/resources/brand-guide#primary-logo) Primary Logo The DRE logo is the main brand mark used across all materials. It includes the wordmark and should be used wherever space allows. 233KB [dre-logos.zip](https://2433215382-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FVMbUKBLsBkPfew6jAaWF%2Fuploads%2FPlufS2oC8WzkWnT688OX%2Fdre-logos.zip?alt=media&token=6c0bfe6c-72a0-4331-9797-cb614fce0b1e) archive Download[Open](https://2433215382-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FVMbUKBLsBkPfew6jAaWF%2Fuploads%2FPlufS2oC8WzkWnT688OX%2Fdre-logos.zip?alt=media&token=6c0bfe6c-72a0-4331-9797-cb614fce0b1e) #### [](https://docs.dre.app/resources/brand-guide#icon) Icon The DRE icon is the compact brand mark used where the full logo doesn't fit. 473KB [dre-icons.zip](https://2433215382-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FVMbUKBLsBkPfew6jAaWF%2Fuploads%2FGGmstG3Nq08v0ihAPvCG%2Fdre-icons.zip?alt=media&token=8e036c5d-0d56-47a9-b579-c83ac182c15e) archive Download[Open](https://2433215382-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FVMbUKBLsBkPfew6jAaWF%2Fuploads%2FGGmstG3Nq08v0ihAPvCG%2Fdre-icons.zip?alt=media&token=8e036c5d-0d56-47a9-b579-c83ac182c15e) #### [](https://docs.dre.app/resources/brand-guide#token-logo) Token Logo _Token logos will be added as products launch._ ### [](https://docs.dre.app/resources/brand-guide#brand-colors) Brand Colors DRE's palette draws from the colors of dawn. Bright orange leads the brand, supported by secondary tones of yellow and blue. Neutral grays are inspired by precious metals and construction materials. #### [](https://docs.dre.app/resources/brand-guide#primary-palette) Primary Palette ![](https://docs.dre.app/~gitbook/image?url=https%3A%2F%2F2433215382-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FVMbUKBLsBkPfew6jAaWF%252Fuploads%252FH7nR8pAFInoolaq15t6V%252Fdre-primary-colors.png%3Falt%3Dmedia%26token%3D9c5cec71-df14-46bc-bf4a-572ad69661be&width=768&dpr=3&quality=100&sign=bebecee8&sv=2) #### [](https://docs.dre.app/resources/brand-guide#neutral-tones) Neutral Tones ![](https://docs.dre.app/~gitbook/image?url=https%3A%2F%2F2433215382-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FVMbUKBLsBkPfew6jAaWF%252Fuploads%252FnzCZE9jf0WkkLzprWOjN%252Fdre-neutral-colors.png%3Falt%3Dmedia%26token%3D56fe8f89-1094-442b-99e3-c13a2ccccdae&width=768&dpr=3&quality=100&sign=4c5129e8&sv=2) ### [](https://docs.dre.app/resources/brand-guide#usage-guidelines) Usage Guidelines #### [](https://docs.dre.app/resources/brand-guide#do) Do * Use the official logo files provided in this guide. * Maintain adequate clear space around the logo (minimum equal to the height of the "D" in DRE). * Use the dark logo variant on light backgrounds and the light variant on dark backgrounds. * Link back to [dre.app](https://dre.app/) and [@dre\_app](https://x.com/dre_app) when featuring DRE assets. #### [](https://docs.dre.app/resources/brand-guide#dont) Don't * Do not stretch, distort, rotate, or skew the logo. * Do not change the logo colors or apply effects (shadows, gradients, outlines). * Do not place the logo on busy backgrounds where it loses legibility. * Do not use DRE branding to imply endorsement or partnership without approval. * Do not use outdated logo versions. [PreviousContract Addresses](https://docs.dre.app/developers/contract-addresses) [NextFAQ's](https://docs.dre.app/resources/faqs) Last updated 2 months ago --- # Asset Eligibility Framework | DRE Docs ### [](https://docs.dre.app/stablecoin/asset-eligibility-framework#master-trust) Master Trust #### [](https://docs.dre.app/stablecoin/asset-eligibility-framework#strategy-vacant-land-and-development-sites-no-income) **Strategy – Vacant Land & Development Sites (No Income)** To provide short-medium term loans and investments into a diversified number of first ranking senior mortgages and debt securities against suitable value added property in good demand suburbs that align with the Trust’s investment strategy. The DRE Trust (“Trust”) may invest in major capital cities/suburbs and property types, but it should have a priority focus on Sydney NSW Australia; and a focus on diversification in property class types to avoid concentration to a single type of market or demand. All investment return targets generated should be priced to out-perform BBSW/GB3 + 500 bps as a benchmark annual return with quarterly distributions pre-paid and monthly interest payment distributions available. The Trust should make loans that are diversified across: new-built and occupiable apartments/townhouses; warehouse/industrial; established dwellings; and land or subdivision that is either occupiable or developable. Investments should follow the Trust’s proprietary investment strategy criteria of: 1. Focus on good locations and suburbs. Invest where demand/supply metrics are favourable and there is desire for stock. Location and demand will be the primary safety buffer. 2. Diversification across different types of property stock end types (apartment, townhouse, land subdivision and industrial) instead of solely postcode/geographical diversification. 3. Higher weighting towards Sydney & NSW investments. 4. Avoid any investment in construction of residential multi-level apartments outside of Sydney NSW. 5. Focus on new-built residential stock or land in preference to older/aged buildings (suburb-driven exceptions considered). 6. Focus on relatively boutique and smaller buildings due to more demand and absorption sales rates. 7. Avoid large-scale or more than 8 story level residential multi unit active construction loans. 8. Diversify and invest in varying loan type durations to provide liquidity and redemptions during the term of the Trust. 9. New loans should be shorter duration with no greater than 12-18 months repayment terms with ability of refinancing or assignment options to provide liquidity or sell-down where necessary. 10. Extensions granted to repayment dates should be aligned with and considered in terms of liquidity and redemptions by the Client and Trust and be periodically reviewed. 11. Developers and builders must have a 100% completion record in the preceding 5 years as a minimum requirement. ### [](https://docs.dre.app/stablecoin/asset-eligibility-framework#commercial-buildings-sub-assets) Commercial Buildings Sub Assets #### [](https://docs.dre.app/stablecoin/asset-eligibility-framework#strategy-commercial-assets-with-income) Strategy (Commercial Assets with Income) To originate and manage a separate portfolio of shorter-term loans and investments for the investor group to focus on investments that generate annual target returns above BBSW/GB3 + 600bps that also have passing commercial yield holding and income. To invest into first ranking mortgages and securities in respect of eligible property types in good demand suburbs that align with the Trustee’s investment strategy as advised to the investor group and in line with the investment strategy of the Trust. To invest in first ranking loans (with sale/equity convertible rights) of any significant commercial landholding strategically next to infrastructure, retail and town centres, major transport links. The investment strategy has compelling drivers due to: 1. The composition of a range of investments in a variety of property class types within the portfolio will allow for the opportunity for tranche distributions and liquidity events during the term of investment. 2. Diversification for the fund to gain exposure away from solely residential property to strategic commercial landholding assets close to critical infrastructure connectivity and new residential communities. 3. Procure at-scale commercial asset that will provide diversification from residential investments already made but also avoids commercial vacancy risk with downside protection due to any existing or long-term committed tenant that has better than average retention rates. 4. Focus on long WALE coupled with a sale / lease back rights is favourable due to the ongoing income that would be generated on the existing building; and as a hedge on the additional vacant lands that can further be made developable for other uses (including hotel or co-living accommodation or seniors living) to a range of operators. 5. Focus on sites suitable for consideration and approvals under Housing Delivery Authority (HDA) criterias and this strategy should be explored for further uplift improvement to the asset (subject to fee and time proposals). 6. Focus on assets with commercial component with a long-term tenant and lease could be refinanced and the investment could be redeemed in whole or part, allowing for the re-deployment of investment capital and liquidity for the investor during the investment term. [PreviousAsset Backing](https://docs.dre.app/stablecoin/asset-backing) [NextProof of Reserves](https://docs.dre.app/stablecoin/proof-of-reserves) Last updated 2 months ago --- # Oracles | DRE Docs dreUSD uses oracles to validate stablecoin prices during minting and redemptions. ### [](https://docs.dre.app/stablecoin/oracles#how-oracles-are-used) How Oracles Are Used 1. **Minting:** When USDC or USDT is deposited, the oracle determines its USD value. That value dictates how much dreUSD is minted. dreUSD is pegged to the US dollar, not to any individual stablecoin. If USDC trades at $0.98, depositing 1 USDC mints 0.98 dreUSD. 2. **Redemptions:** When dreUSD is redeemed for USDC, the oracle determines the USDC equivalent at current market price. ### [](https://docs.dre.app/stablecoin/oracles#data-source) Data Source DRE uses [Chainlink](https://chain.link/) price feeds as the primary data source for stablecoin pricing. ### [](https://docs.dre.app/stablecoin/oracles#price-validation) Price Validation The oracle enforces several checks before a price is used in any protocol operation: **Staleness protection.** Each token has a configurable staleness threshold. If the most recent Chainlink price update is older than the threshold, the transaction reverts. This prevents the protocol from operating on outdated price data during periods of oracle downtime or network congestion. **Deviation threshold.** Each token has a configurable maximum deviation from $1. If the reported price drifts beyond this threshold, the transaction reverts. This is a protocol-level hard stop, separate from slippage. Even if a user sets a loose slippage tolerance, the protocol will not accept a price that has deviated too far from the peg. **Price bounds.** The oracle rejects any price outside a reasonable range. If Chainlink reports a value that falls outside expected bounds for a stablecoin, the transaction reverts. This catches corrupted or anomalous data before it reaches the protocol. **Slippage protection.** Every mint and redemption includes a specified minimum output amount. If the oracle price results in less than the specified minimum, the transaction reverts rather than executing at a worse rate. **Deadline protection.** All mint and redemption transactions include an expiration timestamp. If the transaction is not executed before the deadline, it reverts. This prevents pending transactions from executing at stale prices after network delays. **Sequencer health check.** DRE operates on Base, a Layer 2 network that depends on a sequencer to process transactions. The oracle verifies the sequencer is online before accepting any price data. If the sequencer goes down, all oracle-dependent operations (minting, redemptions) halt automatically. After the sequencer recovers, a grace period must pass before operations resume. This prevents the protocol from acting on potentially stale prices immediately after recovery. ### [](https://docs.dre.app/stablecoin/oracles#risks) Risks * **Oracle failure:** If Chainlink feeds go down or return stale data, minting and redemptions halt (transactions revert). The protocol cannot operate on unvalidated prices. * **Oracle manipulation:** Chainlink aggregates prices from multiple independent node operators, which makes it resistant to single-source manipulation. DRE does not rely on a single price source or any on-chain price average that could be manipulated within a single transaction. * **Sequencer downtime:** Minting and redemptions are unavailable if the Base sequencer is offline and during the grace period after recovery. * **Depeg beyond slippage tolerance:** Transactions revert if the output falls below the depositor's specified minimum. The depositor can resubmit with updated parameters. [PreviousProof of Reserves](https://docs.dre.app/stablecoin/proof-of-reserves) [NextGovernance](https://docs.dre.app/stablecoin/governance) Last updated 2 months ago --- # dreUSD | DRE Docs dreUSD is a stablecoin pegged to $1 USD. Each dollar is fully backed by real world assets held by regulated custodians. dreUSD does not earn rewards on its own. To earn rewards, holders convert dreUSD to dreUSDs. ### [](https://docs.dre.app/stablecoin/dreusd#minting) Minting dreUSD is minted by depositing USDC. There is no minimum deposit amount. Pricing is based on USD, not on the deposited stablecoin. If 1 USDC equals $1.00, depositing 1 USDC mints 1 dreUSD. If USDC drops in value to $0.98, depositing 1 USDC mints 0.98 dreUSD. This protects the asset backing of dreUSD from absorbing a depeg event. Prices are validated in real time via Chainlink oracle feeds. Every mint includes slippage protection and an expiration deadline. If the rate moves beyond the specified tolerance or the transaction takes too long to execute, it reverts. For the full oracle mechanism, see Oracles(link). A single-transaction path is also available to mint dreUSD and deposit it into the dreUSDs savings vault in one step. ### [](https://docs.dre.app/stablecoin/dreusd#redemptions) Redemptions dreUSD can be redeemed for USDC by initiating a withdrawal. Two withdrawal paths are available: Path Target Fill Time Fee Claim Express ~6 hours Variable Withdrawal NFT Standard 7 days None Withdrawal NFT Both paths burn dreUSD immediately on request and issue a withdrawal NFT representing the claim on USDC. These NFTs are transferable. Express withdrawals draw down from a dedicated pool of funds with a capacity limit. If the request size is greater than the available amount of USDC in the pool, the transaction reverts. The pool is first come first serve, and is refilled regularly. Standard withdrawals are filled after a 7 day waiting period. There is no fee. ### [](https://docs.dre.app/stablecoin/dreusd#custody) Custody Deposited stablecoins are routed directly to the custodian vault in the same transaction. The minting contract does not hold user funds at any point. It functions as a routing layer. From there, capital is allocated into revenue generating assets. For a detailed breakdown of dreUSD asset backing composition, see [Asset Backing](https://docs.dre.app/stablecoin/asset-backing) . ### [](https://docs.dre.app/stablecoin/dreusd#compliance) Compliance dreUSD integrates with the Chainalysis sanctions oracle to screen for sanctioned address addresses. Sanctioned addresses cannot mint, receive, or redeem dreUSD. A dedicated guardian can freeze specific addresses when required by law or regulation. This role has no other administrative permissions. Freezing is only a compliance mechanism. Compliance checks apply to all dreUSD, dreUSDs, and dreUSD Withdrawal NFTs. ### [](https://docs.dre.app/stablecoin/dreusd#risks) Risks dreUSD carries exposure to smart contract risk, oracle risk, custodial risk, and underlying asset risk. The protocol mitigates these through independent security audits, Chainlink oracle validation, regulated custodians, and over collateralized backing. For the full risk framework, see [Risks](https://docs.dre.app/trust-and-security/risks) [PreviousMarket Opportunity](https://docs.dre.app/overview/market-opportunity) [NextdreUSDs](https://docs.dre.app/stablecoin/dreusds) Last updated 1 month ago --- # Governance | DRE Docs dreUSD is governed through a system of multisig wallets, role based access control, and timelock delays. All administrative actions are executed by designated multisig wallets with clearly scoped permissions. ### [](https://docs.dre.app/stablecoin/governance#trust-assumptions) Trust Assumptions DRE minimizes trust assumptions where possible, but certain assumptions exist by design. Understanding them is part of evaluating DRE. 1. **Multisig signers act in the interest of DRE.** Administrative roles are held by multisig wallets requiring multiple signers across geographically distributed key holders. 2. **The timelock provides a review window.** Admin operations pass through a 48-hour timelock before execution. This gives the community time to observe and react to proposed changes before they take effect. 3. **Oracle data is accurate.** DRE relies on Chainlink price feeds for minting and redemption pricing. If oracle data is stale or unavailable, affected operations revert automatically. See Oracles. 4. **Custodians safeguard dreUSD reserves.** Deposited stablecoins are routed to a custodian vault, then allocated into reserve assets. See Asset Backing. ### [](https://docs.dre.app/stablecoin/governance#roles-and-permissions) Roles and Permissions Roles are enforced at the contract level. Each role grants access to a specific set of functions and is held by a dedicated multisig wallet. Roles are granted and revoked by the Governance multisig through the timelock. #### [](https://docs.dre.app/stablecoin/governance#administrative) Administrative Control over role assignment, contract upgrades, and configuration. Role Held By Scope DEFAULT\_ADMIN\_ROLE Governance multisig Grant and revoke all other roles across all contracts UPGRADER\_ROLE Upgrader multisig Authorize contract upgrades (allows contract code to be updated after deployment) #### [](https://docs.dre.app/stablecoin/governance#configuration) Configuration Control over parameters, oracle feeds, and withdrawal settings. Role Held By Scope MODERATOR\_ROLE Moderator multisig Mint and deposit policy, sanctions list, vault configuration, oracle feed management WITHDRAWAL\_CONFIG\_ROLE Moderator multisig Withdrawal queue parameters, express withdrawal settings, vault adapter configuration #### [](https://docs.dre.app/stablecoin/governance#security) Security Control over emergency response and compliance enforcement. Role Held By Scope PAUSER\_ROLE Pauser multisig Pause and unpause minting, withdrawals, deposits, and reward distribution GUARDIAN\_ROLE Guardian multisig Freeze and unfreeze specific addresses on dreUSD for compliance enforcement #### [](https://docs.dre.app/stablecoin/governance#operational) Operational Limited scope roles for day to day functions. Role Held By Scope TREASURY\_ROLE Treasury multisig Fill standard withdrawals, execute admin withdrawals, repay express debt KEEPER\_ROLE Individual wallet or automated Process fiat-backed mints from the custodian EXPRESS\_OPERATOR\_ROLE Individual wallet or automated Fill express withdrawal positions #### [](https://docs.dre.app/stablecoin/governance#additional-wallets) Additional Wallets Two wallets are part of the system but do not hold permissioned roles: * **Custodian Vault:** Receives deposited stablecoins from mints. Holds deposits before allocation to backing assets. * **Rewards Vault:** Holds dreUSD designated for reward distribution before it enters the dreUSDs vault. ### [](https://docs.dre.app/stablecoin/governance#timelock) Timelock Administrative operations pass through a timelock contract with a 48-hour minimum delay. When an admin proposes a change, the operation is scheduled on-chain. It cannot be executed until the delay period has elapsed. The timelock covers: * Role assignments and revocations * Contract upgrades * Vault and oracle configuration changes * Withdrawal parameter updates * Any action executed by the Governance or Upgrader multisig The timelock workflow follows three steps: 1. **Propose:** A multisig schedules the proposed change on-chain. 2. **Wait:** The change enters a waiting period of at least 48 hours. During this window, the proposed change is visible on-chain for public review. 3. **Execute:** After the delay has passed, the multisig executes the change. Pending operations can be canceled before execution. The timelock is self-administered, meaning changes to the timelock's own configuration also go through the delay. ### [](https://docs.dre.app/stablecoin/governance#emergency-controls) Emergency Controls Two roles provide fast response capabilities that bypass the standard timelock for time sensitive situations: #### [](https://docs.dre.app/stablecoin/governance#pauser) Pauser The Pauser can immediately pause and unpause: * Minting and withdrawals * dreUSDs deposits and withdrawals * Reward distribution Pausing halts the affected operations. It does not affect existing token balances or transfers of dreUSD. The Pauser cannot modify any parameters, access funds, or grant roles. #### [](https://docs.dre.app/stablecoin/governance#guardian) Guardian The Guardian can freeze and unfreeze specific addresses on the dreUSD token. Frozen addresses cannot send, receive, mint, or redeem dreUSD. This is a compliance mechanism used for sanctions enforcement via a sanctions oracle. The Guardian has no other administrative permissions. See dreUSD for details on compliance controls. [PreviousOracles](https://docs.dre.app/stablecoin/oracles) [NextDRE Points](https://docs.dre.app/rewards/dre-points) Last updated 2 months ago --- # Risks | DRE Docs [](https://docs.dre.app/trust-and-security/risks#risks) Risks ------------------------------------------------------------------ DRE is designed to minimize risk through independent audits, on-chain protections, and regulated custodians. Risk cannot be eliminated. This page describes the material risks of holding dreUSD and dreUSDs, how each is addressed, and what exposure remains. ### [](https://docs.dre.app/trust-and-security/risks#reserve-risks) Reserve Risks **Credit risk:** Property credit borrowers may default on their loans. Bond issuers may fail to make coupon payments. Property loans are secured by the property itself, which serves as recovery collateral in a default. Loan to value ratios are set so collateral exceeds the outstanding loan. Holdings are diversified across borrowers and issuers, and reserves are sized so that individual defaults do not impair the ability to redeem dreUSD at $1. If a borrower defaults, enforcement follows a defined process. Missed interest payments trigger a notice period. After the notice period, DRE as first ranking mortgagee has the right to market and sell the property through a public marketing campaign designed to achieve the best possible sale price. Proceeds flow through a waterfall structure where senior lenders are repaid first. Because DRE holds senior positions, it is first in line for recovery. Each property is held in its own standalone SPV with no other business activities, employees, or trading operations. This means liquidation is straightforward with no competing creditors from unrelated operations. Australia as a Tier 1 jurisdiction has a clear and robust receivership and liquidation framework, with well established legal processes for secured creditor recovery. **Interest rate risk:** Changes in interest rates affect the terms available for new property credit opportunities. Falling rates reduce returns on new loans. DRE maintains a mix of durations across holdings to limit sensitivity to rate changes. dreUSDs rewards reflect current market conditions and will fluctuate over time. **Liquidity risk:** Property credit is not an instantly liquid asset. If redemption demand exceeds the cash equivalents in reserves, selling longer-duration assets quickly may require accepting a discount. Two redemption paths provide orderly exits: 1. Express withdrawals (~6 hours, with a fee) 2. Standard withdrawals (7 days, no fee). Cash equivalents are sized to handle normal redemption volumes without forced sales. DRE has also established credit facilities available for fulfilling redemptions beyond normal volumes. **Depeg risk:** dreUSD is minted by depositing USDC or USDT. If either stablecoin trades below $1, the oracle adjusts the mint rate so the depositor receives less dreUSD proportional to the depegged value. This protects existing holders from dilution. If a deposited stablecoin were to lose value permanently, the loss would fall on the depositor who minted at the depegged rate. **Currency risk:** DRE raises capital in USD denominated stablecoins and allocates into property credit that may be denominated in other currencies, starting with AUD. Movements in exchange rates between the lending currency and USD could affect the value of repayments. DRE mitigates currency risk through several mechanisms. Loan contracts contain a "Gross Up" provision requiring borrowers to repay the full principal and interest in USD equivalent regardless of exchange rate movements. Borrowers absorb FX risk and are responsible for their own hedging. DRE also uses hedging instruments including forwards and futures, with hedging costs already factored into the stated APR. As the reserve pool grows, DRE maintains a dedicated cash reserve for hedging. Personal guarantees from borrower entities provide an additional backstop covering any shortfalls, including those caused by FX movements. DRE monitors FX exposure on an ongoing basis and adjusts hedging as pool size and market conditions change. ### [](https://docs.dre.app/trust-and-security/risks#operational-risks) Operational Risks **Smart contract risk:** DRE's smart contracts control minting, redemptions, reward distribution, and cross-chain operations. A vulnerability in any contract could result in loss of funds or disruption. Contracts are audited by independent security firms before deployment. A public bug bounty program is planned following initial audits. Audits reduce the probability of vulnerabilities but do not guarantee their absence. See Audits. **Oracle risk:** Minting and redemption pricing depends on Chainlink price feeds. If a feed returns stale or inaccurate data, DRE could mint dreUSD at incorrect rates or process redemptions at the wrong price. DRE enforces staleness checks on every oracle read. If data is stale, the transaction reverts. Slippage protection and deadline enforcement provide additional safeguards. Chainlink aggregates prices from multiple independent node operators, making it resistant to single-source manipulation. See Oracles. **Custodial risk:** Reserve assets are held at regulated custodians and brokers. DRE does not self-custody assets. If a custodian experiences operational failure, insolvency, or regulatory action, access to assets could be delayed or impaired. DRE uses regulated, institutional-grade custodians and retains legal ownership of all deposited assets at all times. See Proof of Reserves. **Upgradeability and governance:** All core contracts can be updated after deployment, and all administrative control rests with multisig wallets operated by the DRE team. There is no on-chain governance or token voting. This enables faster response times and clearer accountability, but requires trust in the signer set. All upgrades and administrative changes go through a 48-hour timelock. Pending changes are visible on-chain during this window, providing a public review and detection period before anything executes. The signer set will grow over time as DRE scales. See Governance. **Cross-chain risk:** dreUSDs is available on multiple chains through LayerZero. Delays or failures in cross-chain messaging could temporarily prevent deposits or withdrawals on chains other than Base. Assets on Base are not affected by issues on other chains. **Regulatory risk:** DRE operates at the intersection of real-world assets and blockchain infrastructure. Changes in regulation could affect how DRE manages assets, which services are available, or where DRE can operate. Regulatory requirements vary by jurisdiction and may evolve over time. [PreviousAudits](https://docs.dre.app/trust-and-security/audits) [NextContracts Overview](https://docs.dre.app/developers/contracts-overview) Last updated 1 month ago --- # DRE Points | DRE Docs DRE rewards early depositors with points. Deposit dreUSD or dreUSDs, earn points daily, and receive partner token rewards at the end of each campaign. ### [](https://docs.dre.app/rewards/dre-points#how-it-works) How It Works 1. Deposit dreUSD or dreUSDs to start earning points 2. Check in weekly to activate a boost multiplier 3. Deploy dreUSD across DeFi for higher multipliers 4. Refer friends to earn 10% of their points 5. Claim rewards at the end of each campaign ### [](https://docs.dre.app/rewards/dre-points#earning-points) Earning Points Points accrue daily based on the amount deposited. Asset Rate dreUSD 10 points per $100 per day dreUSDs 3 points per $100 per day dreUSD earns points at a higher rate because it does not generate yield on its own. dreUSDs already earns yield from the underlying reserves, so its points rate is lower to balance total rewards. ### [](https://docs.dre.app/rewards/dre-points#defi-multipliers) DeFi Multipliers Points multiply when dreUSD or dreUSDs is deployed across supported DeFi protocols. Activities like providing liquidity, lending, and using selected DeFi Vaults each carry different multipliers. Higher multipliers reflect higher commitment and risk. #### [](https://docs.dre.app/rewards/dre-points#how-multipliers-stack) How Multipliers Stack DeFi multipliers, weekly check-in boosts, and DRE Status bonuses all stack together. **Example:** $10,000 dreUSD in a DEX liquidity pool with a 5x multiplier, a 1.3x check-in boost, and Visionary status (+5%) earns 6,825 points per day (1,000 base × 5 × 1.3 × 1.05). ### [](https://docs.dre.app/rewards/dre-points#weekly-check-in) Weekly Check-In Check in once per week to activate a boost multiplier on all points earned. The boost lasts 7 days from activation. Each consecutive weekly check-in increases the multiplier. Consecutive Weeks Boost Week 1 1.1x Week 2 1.2x Week 3 1.3x Week 4 1.4x Week 5+ 1.5x (max) The boost applies across all earning opportunities. Missing a check-in does not reset your streak, but the boost is only active for 7 days after each check-in. #### [](https://docs.dre.app/rewards/dre-points#flash-boosts) Flash Boosts Flash Boost events temporarily increase multipliers on specific activities. Flash Boosts are announced 24 hours in advance, and run for 7 days. Follow DRE on [Telegram](https://t.me/dre_app) and [X](https://docs.google.com/document/d/15FTwqcGsXKHjBSbHdNxxiB81psphLN_-ixT0O_jvwOI/edit#TODO) for alerts. ### [](https://docs.dre.app/rewards/dre-points#dre-status) DRE Status DRE Status tracks cumulative days active within DRE. A "day active" is any day where at least 1 point is earned. Days do not need to be consecutive. Status Requirement Benefit Dreamer Any deposit Entry point Builder 60+ days active +5% points bonus Architect 120+ days active +10% points bonus Legend 270+ days active +15% points bonus The points bonus from DRE Status stacks with check-in boosts and DeFi multipliers. Status is permanent and never resets, even after withdrawal. ### [](https://docs.dre.app/rewards/dre-points#referrals) Referrals Refer other users to DRE and earn 10% of all points they earn. The referral connection is permanent and there is no cap on the number of referrals. The referral bonus does not reduce the referred user's points. Both parties earn their full amount. A referred user depositing $10,000 in dreUSD earns 1,000 points per day. The referrer earns an additional 100 points per day from that activity. [PreviousGovernance](https://docs.dre.app/stablecoin/governance) [NextAudits](https://docs.dre.app/trust-and-security/audits) Last updated 5 days ago --- # Audits | DRE Docs At DRE, maintaining the robustness and reliability of our smart contract infrastructure is a core priority. We achieve this through comprehensive, independent security reviews designed to identify potential vulnerabilities, structural risks, and operational inefficiencies. These assessments, conducted by leading industry specialists, strengthen the integrity of our systems and reinforce confidence in the protocol. ### [](https://docs.dre.app/trust-and-security/audits#approach-to-audits) Approach to Audits DRE is undertaking a multi-phased audit program to ensure the highest level of security on the protocol, and will have audits on a regular basis to ensure security is always maintained at the highest standard. Phase 1: Conducted initial audits with [Spearbit](https://cantina.xyz/solutions/spearbit) and [Quantstamp](https://quantstamp.com/) on the dreUSD stablecoin protocol where no critical or high level vulnerabilities were found. Phase 2: Audit Contest with [Sherlock](https://sherlock.xyz/solutions/audit-contests) (Scheduled for April 9th) Phase 3: Bug bounty program with [Cantina](https://cantina.xyz/solutions/bounties) (Scheduled to go live at protocol launch) Phase 4: Public Transparency dashboard by DRE, and 3rd party verification of asset backing. Web3soc evaluation to access Operations, Financial backing, Security, and Regulatory compliance. ### [](https://docs.dre.app/trust-and-security/audits#smart-contract-audits) Smart Contract Audits Auditor Date Scope Report Spearbit Feb 2026 dreUSD smart contracts [Report](https://github.com/dre-labs/transparency/blob/d872a6836cd571c0f0a7fa513cb7b08ace62b2b2/audits/dreusd/2026-02-spearbit-dreusd.pdf) QuantStamp Feb 2026 dreUSD smart contracts [Report](https://github.com/dre-labs/transparency/blob/d872a6836cd571c0f0a7fa513cb7b08ace62b2b2/audits/dreusd/2026-03-quantstamp-dreusd.pdf) The audit covers all core smart contracts for dreUSD. Additional audits will occur as we make updates. This table will be updated as reports are published. ### [](https://docs.dre.app/trust-and-security/audits#dreusd-reserves-audits) dreUSD Reserves Audits The asset backing of dreUSD is independently audited. These audits verify the composition, valuation, and overcollateralization of the reserves. Reports will be published on the DRE app in the Transparency dashboard. ### [](https://docs.dre.app/trust-and-security/audits#bug-bounty) Bug Bounty DRE runs a public bug bounty program through [Cantina](https://cantina.xyz/) . Security researchers can submit vulnerabilities for review. Valid findings are rewarded based on severity. For scope, rules, and submission details, see DRE's program page on Cantina. [PreviousDRE Points](https://docs.dre.app/rewards/dre-points) [NextRisks](https://docs.dre.app/trust-and-security/risks) Last updated 1 month ago --- # Contracts Overview | DRE Docs This page documents the key functions for interacting with dreUSD and dreUSDs. ### [](https://docs.dre.app/developers/contracts-overview#dreusdmanager) [dreUSDManager](https://basescan.org/address/0xa02557918d04973A712d7dFe2A5C735fC0117Ac8#code) dreUSD supply is managed through the `dreUSDManager` contract. #### [](https://docs.dre.app/developers/contracts-overview#minting-dreusd) Minting dreUSD Mint dreUSD by depositing USDC. The oracle determines the USD value of the deposit and mints dreUSD accordingly. Deposited USDC is routed to the custodian vault in the same transaction. **Mint with standard ERC-20 approval:** Copy /// @notice Mints dreUSD 1:1 with allowed stablecoin deposit using standard ERC-20 approval /// @param asset Address of the stablecoin to deposit /// @param amount Amount of stablecoin to deposit (in stablecoin decimals) /// @param minAmountOut Minimum dreUSD to receive (slippage protection, 18 decimals) /// @param deadline Timestamp after which the transaction reverts function mint( address asset, uint256 amount, uint256 minAmountOut, uint256 deadline ) external **Mint with ERC-20 Permit (gasless approval):** Copy /// @notice Mints dreUSD 1:1 with allowed stablecoin deposit using ERC-20 Permit /// @param asset Address of the stablecoin to deposit /// @param amountIn Amount of stablecoin to deposit (in stablecoin decimals) /// @param minAmountOut Minimum dreUSD to receive (slippage protection, 18 decimals) /// @param deadline Timestamp after which the transaction reverts /// @param permitSig ERC-20 Permit signature (abi.encode(deadline, v, r, s)) function mint( address asset, uint256 amountIn, uint256 minAmountOut, uint256 deadline, bytes calldata permitSig ) external **Mint and stake in a single transaction:** Copy /// @notice Mints dreUSD and deposits into the dreUSDs vault in one transaction /// @param asset Address of the stablecoin to deposit /// @param amountIn Amount of stablecoin to deposit (in stablecoin decimals) /// @param receiver Address to receive dreUSDs shares /// @param minAmountOut Minimum dreUSD to mint (slippage protection, 18 decimals) /// @param deadline Timestamp after which the transaction reverts /// @param permitSig ERC-20 Permit signature (abi.encode(deadline, v, r, s)) function mintAndStake( address asset, uint256 amountIn, address receiver, uint256 minAmountOut, uint256 deadline, bytes calldata permitSig ) external Notes: * `minAmountOut` protects against price movement between submission and execution. If the oracle returns a value below this threshold, the transaction reverts. * `deadline` prevents stale transactions from executing after mempool delays. * The contract uses existing ERC-20 allowance, If allowance for the manager is already at least \`amountIn\`, then the contract skips the permit call. If it is insufficient, a non-empty, valid encoded permit is required; ### [](https://docs.dre.app/developers/contracts-overview#withdrawals) Withdrawals Withdraw dreUSD by burning it in exchange for USDC. Two paths are available on the `dreUSDManager`, each minting a separate NFT contract to represent the withdrawal request. #### [](https://docs.dre.app/developers/contracts-overview#standard-withdrawal-7-days-no-fee) **Standard withdrawal (7 days, no fee):** Copy /// @notice Request a standard withdrawal. dreUSD is burned immediately. /// An NFT representing the withdrawal claim is minted to the caller. /// @param dreUSDAmount Amount of dreUSD to withdraw (18 decimals) /// @param minUsdcAmount Minimum USDC to receive (slippage protection, 6 decimals) /// @param deadline Timestamp after which the transaction reverts /// @return tokenId The minted withdrawal NFT token ID function requestWithdrawal( uint256 dreUSDAmount, uint256 minUsdcAmount, uint256 deadline ) external returns (uint256 tokenId) #### [](https://docs.dre.app/developers/contracts-overview#express-withdrawal-6-hours) **Express withdrawal (~6 hours):** Copy /// @notice Request an express withdrawal. dreUSD is burned immediately. /// An NFT is minted from the express withdrawal contract. /// Subject to global express capacity. If the requested amount /// exceeds available capacity, only the available portion is processed. /// @param dreUSDAmount Amount of dreUSD to withdraw (18 decimals) /// @param minUsdcAmount Minimum USDC to receive after fees (slippage protection, 6 decimals) /// @param deadline Timestamp after which the transaction reverts /// @return expressTokenId The minted express withdrawal NFT token ID function requestExpressWithdrawal( uint256 dreUSDAmount, uint256 minUsdcAmount, uint256 deadline ) external returns (uint256 expressTokenId) Notes: * Both functions burn dreUSD immediately on request. The NFT represents the claim on USDC. * Withdrawal NFTs are ERC-721 tokens from separate contracts (one for standard, one for express). They are transferable. * Standard withdrawals are filled after the waiting period (default 7 days) by the Treasury role. * Express withdrawals are filled from a dedicated liquidity pool by the Express Operator role. * Express fee is deducted from the USDC amount. Use `calculateExpressFee` to preview. ### [](https://docs.dre.app/developers/contracts-overview#dreusds) [dreUSDs](https://basescan.org/address/0x13F7Cbd3562e276b49AAdFf9b3Eef67561371bcF#code) dreUSDs is a standard [ERC-4626](https://ethereum.org/en/developers/docs/standards/tokens/erc-4626/) vault. Any protocol or wallet that supports ERC-4626 can interact with it directly. The functions below are from the ERC-4626 standard. #### [](https://docs.dre.app/developers/contracts-overview#staking-dreusd-to-dreusds) Staking (dreUSD to dreUSDs) Copy /// @notice Deposit dreUSD into the vault and receive dreUSDs shares /// @param assets Amount of dreUSD to deposit (18 decimals) /// @param receiver Address to receive dreUSDs shares /// @return shares Number of dreUSDs shares minted function deposit(uint256 assets, address receiver) external returns (uint256 shares) #### [](https://docs.dre.app/developers/contracts-overview#unstaking-dreusds-to-dreusd) Unstaking (dreUSDs to dreUSD) Copy /// @notice Redeem a specific number of dreUSDs shares for dreUSD /// @param shares Number of dreUSDs shares to burn /// @param receiver Address to receive dreUSD /// @param owner Address that owns the dreUSDs shares /// @return assets Amount of dreUSD returned function redeem(uint256 shares, address receiver, address owner) external returns (uint256 assets) Notes: * Deposit and redeem are instant. * On every deposit and redeem request, the vault claims pending vested rewards from the distributor. This ensures the share price is current before calculating shares issued or dreUSD returned. * Redeem returns dreUSD. To exit to USDC, a separate withdrawal request through dreUSDManager is required. ### [](https://docs.dre.app/developers/contracts-overview#view-functions) View Functions #### [](https://docs.dre.app/developers/contracts-overview#dreusds-1) dreUSDs Copy /// @notice Total dreUSD held in the vault (including vested rewards) function totalAssets() external view returns (uint256) /// @notice Preview how many dreUSDs shares a deposit would return function convertToShares(uint256 assets) external view returns (uint256 shares) /// @notice Preview how much dreUSD a share amount is worth function convertToAssets(uint256 shares) external view returns (uint256 assets The share price is derived from `totalAssets() / totalSupply()`. It can only increase or stay flat. #### [](https://docs.dre.app/developers/contracts-overview#express-withdrawal) Express Withdrawal Copy /// @notice Current available express withdrawal capacity (in USDC, 6 decimals) function getExpressAvailable() external view returns (uint256) /// @notice Calculate the fee and net amount for an express withdrawal /// @param usdcAmount USDC amount before fee /// @return feeAmount Fee that would be charged /// @return userReceives Amount the user would receive after fee function calculateExpressFee(uint256 usdcAmount) external view returns (uint256 feeAmount, uint256 userReceives) #### [](https://docs.dre.app/developers/contracts-overview#withdrawal-nfts) Withdrawal NFTs Both standard and express withdrawal NFT contracts expose the same interface. Copy /// @notice Position data stored on-chain for each withdrawal NFT struct Position { address user; // Original creator uint256 usdcAmount; // USDC amount owed uint256 createdAt; // Creation timestamp } /// @notice Get position data for a withdrawal NFT function getPosition(uint256 tokenId) external view returns (Position memory) /// @notice Check if a withdrawal position exists (has not been filled/burned) function positionExists(uint256 tokenId) external view returns (bool) /// @notice Get the pending token ID range for unfilled positions /// @return startTokenId First pending token ID /// @return endTokenId Last pending token ID function getPendingRange() external view returns (uint256 startTokenId, uint256 endTokenId) [PreviousRisks](https://docs.dre.app/trust-and-security/risks) [NextContract Addresses](https://docs.dre.app/developers/contract-addresses) Last updated 1 month ago --- # Contract Addresses | DRE Docs ### [](https://docs.dre.app/developers/contract-addresses#base-hub-chain) Base (Hub Chain) #### [](https://docs.dre.app/developers/contract-addresses#core-contracts) Core Contracts Contract Address dreUSD [0xB4E008A61b5A7A7D0e1aebd639F704d24821Bb2F](https://basescan.org/address/0xB4E008A61b5A7A7D0e1aebd639F704d24821Bb2F) dreUSDs [0x13F7Cbd3562e276b49AAdFf9b3Eef67561371bcF](https://basescan.org/address/0x13F7Cbd3562e276b49AAdFf9b3Eef67561371bcF) dreUSDManager [0xa02557918d04973A712d7dFe2A5C735fC0117Ac8](https://basescan.org/address/0xa02557918d04973A712d7dFe2A5C735fC0117Ac8) dreUSDOracle [0x9Db85D8201d14ad7602aaFaC249F37Aa0B6D99b5](https://basescan.org/address/0x9Db85D8201d14ad7602aaFaC249F37Aa0B6D99b5) dreRewardsDistributor [0x0C5990D188734a3918d793751FB9D9426d5487B2](https://basescan.org/address/0x0C5990D188734a3918d793751FB9D9426d5487B2) dreShareOFTAdapter [0xE4F808b1eBff059052529E66EA13c4b171DdDe3b](https://basescan.org/address/0xE4F808b1eBff059052529E66EA13c4b171DdDe3b) dreOVaultComposer [0xFFCCD2d1616D28eEd874D1c68c183f704f6da7bC](https://basescan.org/address/0xffccd2d1616d28eed874d1c68c183f704f6da7bc) dreAaveAdapter [0xb10d4843f1F7A807Be8362d009C5eeA78ef4253f](https://basescan.org/address/0xb10d4843f1f7a807be8362d009c5eea78ef4253f) dreTimelockController TBD #### [](https://docs.dre.app/developers/contract-addresses#withdrawal-contracts) Withdrawal Contracts Contract Address dreWithdrawalNFT (Standard) [0x3a5801950282645811f379E272F68b31A80bBC09](https://basescan.org/address/0x3a5801950282645811f379E272F68b31A80bBC09) dreWithdrawalNFT (Express) [0x5C156B79C9c9f906d9d8Eea59bB0D2779abBf494](https://basescan.org/address/0x5C156B79C9c9f906d9d8Eea59bB0D2779abBf494) #### [](https://docs.dre.app/developers/contract-addresses#oracle-feeds) Oracle Feeds Feed Provider Address USDC/USD Chainlink [0x7e860098F58bBFC8648a4311b374B1D669a2bc6B](https://basescan.org/address/0x7e860098F58bBFC8648a4311b374B1D669a2bc6B) #### [](https://docs.dre.app/developers/contract-addresses#external-dependencies) External Dependencies Contract Address USDC [0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913](https://basescan.org/token/0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913) Chainalysis Sanctions Oracle [0x3A91A31cB3dC49b4db9Ce721F50a9D076c8D739B](https://basescan.org/address/0x3A91A31cB3dC49b4db9Ce721F50a9D076c8D739B) [PreviousContracts Overview](https://docs.dre.app/developers/contracts-overview) [NextBrand Guide](https://docs.dre.app/resources/brand-guide) Last updated 1 month ago --- # FAQ's | DRE Docs **Why Base as the hub chain?**[](https://docs.dre.app/resources/faqs#why-base-as-the-hub-chain) Base gives us fast transactions at low cost on top of Ethereum's security. That lets us sponsor gas fees inside the DRE app and wallet, so transactions feel instant and free for users instead of slow and expensive. **What is a Tier 1 country?**[](https://docs.dre.app/resources/faqs#what-is-a-tier-1-country) A Tier 1 country is one of the top 10 wealthiest OECD nations, with strong rule of law and reliable property rights protections. Examples include the US, UK, Germany, Japan, Australia, and Canada. **How many DVNs are we using with LayerZero cross-chain integration?**[](https://docs.dre.app/resources/faqs#how-many-dvns-are-we-using-with-layerzero-cross-chain-integration) We run a 4-of-4 DVN configuration on every spoke chain. All four Decentralized Verifier Networks must independently confirm a cross-chain message before it executes. Our operators are LayerZero Labs, Canary, Horizen, and Nethermind. **Do I have to convert to dreUSDs to earn rewards?**[](https://docs.dre.app/resources/faqs#do-i-have-to-convert-to-dreusds-to-earn-rewards) Yes. dreUSD does not earn rewards on its own. Convert dreUSD to dreUSDs to start earning. **Can I lose dreUSD by depositing into dreUSDs?**[](https://docs.dre.app/resources/faqs#can-i-lose-dreusd-by-depositing-into-dreusds) No. The share price can only increase or stay flat. When you withdraw, you receive your original deposit plus your share of accumulated rewards. **What are rewards paid in?**[](https://docs.dre.app/resources/faqs#what-are-rewards-paid-in) dreUSD **Can rewards ever be zero?**[](https://docs.dre.app/resources/faqs#can-rewards-ever-be-zero) It is possible. Rewards depend on revenue generated by the underlying assets. If market conditions reduce revenue in a given period, rewards for that period may be lower or zero. **Do I need to check in every week?**[](https://docs.dre.app/resources/faqs#do-i-need-to-check-in-every-week) No. Check-ins are optional but recommended. Missing one does not reset your streak. The boost simply expires after 7 days until you check in again. **What happens if I withdraw?**[](https://docs.dre.app/resources/faqs#what-happens-if-i-withdraw) Partial withdrawals do not affect points or status. DRE Status is permanent. The daily active counter pauses if no points are being earned and resumes automatically when earning resumes. **How are Flash Boosts announced?**[](https://docs.dre.app/resources/faqs#how-are-flash-boosts-announced) 24 hours in advance on Discord and X. Advance notice is given so all timezones can participate. **Do points carry over between campaigns?**[](https://docs.dre.app/resources/faqs#do-points-carry-over-between-campaigns) No. Points reset after each campaign. DRE Status carries over. **How do referrals work?**[](https://docs.dre.app/resources/faqs#how-do-referrals-work) Share your referral link. You earn 10% of all points earned by anyone who deposits through it. No cap, no reduction to their points. [PreviousBrand Guide](https://docs.dre.app/resources/brand-guide) Last updated 5 days ago --- # Welcome to DRE | DRE Docs What if your money earned for you the way it earns for your bank? Every dollar you deposit funds property & real estate credit, secured loans, and cash equivalents that generate steady returns. Banks have maximized those returns for shareholders, not depositors. DRE is changing this. **Introducing dreUSD and dreUSDs** **dreUSD** is a fully backed stablecoin pegged to the US dollar, backed by real assets, and redeemable any time. Fully composable in DeFi and CeFi. **dreUSDs** is the savings token that captures rewards from the assets backing dreUSD. Convert dreUSD to dreUSDs and rewards accumulate automatically. No lock-ups, no active management. Convert back instantly whenever you want. **Real Assets, Real Rewards** Borrowers pay interest on their loans and cash instruments earn market rates. These asset classes have generated steady returns for banks and institutions for decades. DRE lets you benefit from them. **Transparency & Verification** Watch your money grow daily. The Transparency Dashboard shows where every dollar is allocated and how rewards are generated. Independent audits and regular 3rd party verification ensures DRE reports asset backing accurately. ### [](https://docs.dre.app/overview#connect-with-dre) Connect with DRE * Website: [https://dre.app](https://dre.app/) * X: [https://x.com/dre\_app](https://x.com/dre_app) * Telegram: [https://t.me/dre\_app](https://t.me/dre_app) [NextWhy DRE?](https://docs.dre.app/overview/why-dre) Last updated 1 month ago --- # dreUSD | DRE Docs dreUSD is a stablecoin pegged to $1 USD. Each dollar is fully backed by real world assets held by regulated custodians. dreUSD does not earn rewards on its own. To earn rewards, holders convert dreUSD to dreUSDs. ### [](https://docs.dre.app/stablecoin#minting) Minting dreUSD is minted by depositing USDC. There is no minimum deposit amount. Pricing is based on USD, not on the deposited stablecoin. If 1 USDC equals $1.00, depositing 1 USDC mints 1 dreUSD. If USDC drops in value to $0.98, depositing 1 USDC mints 0.98 dreUSD. This protects the asset backing of dreUSD from absorbing a depeg event. Prices are validated in real time via Chainlink oracle feeds. Every mint includes slippage protection and an expiration deadline. If the rate moves beyond the specified tolerance or the transaction takes too long to execute, it reverts. For the full oracle mechanism, see Oracles(link). A single-transaction path is also available to mint dreUSD and deposit it into the dreUSDs savings vault in one step. ### [](https://docs.dre.app/stablecoin#redemptions) Redemptions dreUSD can be redeemed for USDC by initiating a withdrawal. Two withdrawal paths are available: Path Target Fill Time Fee Claim Express ~6 hours Variable Withdrawal NFT Standard 7 days None Withdrawal NFT Both paths burn dreUSD immediately on request and issue a withdrawal NFT representing the claim on USDC. These NFTs are transferable. Express withdrawals draw down from a dedicated pool of funds with a capacity limit. If the request size is greater than the available amount of USDC in the pool, the transaction reverts. The pool is first come first serve, and is refilled regularly. Standard withdrawals are filled after a 7 day waiting period. There is no fee. ### [](https://docs.dre.app/stablecoin#custody) Custody Deposited stablecoins are routed directly to the custodian vault in the same transaction. The minting contract does not hold user funds at any point. It functions as a routing layer. From there, capital is allocated into revenue generating assets. For a detailed breakdown of dreUSD asset backing composition, see [Asset Backing](https://docs.dre.app/stablecoin/asset-backing) . ### [](https://docs.dre.app/stablecoin#compliance) Compliance dreUSD integrates with the Chainalysis sanctions oracle to screen for sanctioned address addresses. Sanctioned addresses cannot mint, receive, or redeem dreUSD. A dedicated guardian can freeze specific addresses when required by law or regulation. This role has no other administrative permissions. Freezing is only a compliance mechanism. Compliance checks apply to all dreUSD, dreUSDs, and dreUSD Withdrawal NFTs. ### [](https://docs.dre.app/stablecoin#risks) Risks dreUSD carries exposure to smart contract risk, oracle risk, custodial risk, and underlying asset risk. The protocol mitigates these through independent security audits, Chainlink oracle validation, regulated custodians, and over collateralized backing. For the full risk framework, see [Risks](https://docs.dre.app/trust-and-security/risks) [PreviousMarket Opportunity](https://docs.dre.app/overview/market-opportunity) [NextdreUSDs](https://docs.dre.app/stablecoin/dreusds) Last updated 1 month ago --- # Contracts Overview | DRE Docs This page documents the key functions for interacting with dreUSD and dreUSDs. ### [](https://docs.dre.app/developers#dreusdmanager) [dreUSDManager](https://basescan.org/address/0xa02557918d04973A712d7dFe2A5C735fC0117Ac8#code) dreUSD supply is managed through the `dreUSDManager` contract. #### [](https://docs.dre.app/developers#minting-dreusd) Minting dreUSD Mint dreUSD by depositing USDC. The oracle determines the USD value of the deposit and mints dreUSD accordingly. Deposited USDC is routed to the custodian vault in the same transaction. **Mint with standard ERC-20 approval:** Copy /// @notice Mints dreUSD 1:1 with allowed stablecoin deposit using standard ERC-20 approval /// @param asset Address of the stablecoin to deposit /// @param amount Amount of stablecoin to deposit (in stablecoin decimals) /// @param minAmountOut Minimum dreUSD to receive (slippage protection, 18 decimals) /// @param deadline Timestamp after which the transaction reverts function mint( address asset, uint256 amount, uint256 minAmountOut, uint256 deadline ) external **Mint with ERC-20 Permit (gasless approval):** Copy /// @notice Mints dreUSD 1:1 with allowed stablecoin deposit using ERC-20 Permit /// @param asset Address of the stablecoin to deposit /// @param amountIn Amount of stablecoin to deposit (in stablecoin decimals) /// @param minAmountOut Minimum dreUSD to receive (slippage protection, 18 decimals) /// @param deadline Timestamp after which the transaction reverts /// @param permitSig ERC-20 Permit signature (abi.encode(deadline, v, r, s)) function mint( address asset, uint256 amountIn, uint256 minAmountOut, uint256 deadline, bytes calldata permitSig ) external **Mint and stake in a single transaction:** Copy /// @notice Mints dreUSD and deposits into the dreUSDs vault in one transaction /// @param asset Address of the stablecoin to deposit /// @param amountIn Amount of stablecoin to deposit (in stablecoin decimals) /// @param receiver Address to receive dreUSDs shares /// @param minAmountOut Minimum dreUSD to mint (slippage protection, 18 decimals) /// @param deadline Timestamp after which the transaction reverts /// @param permitSig ERC-20 Permit signature (abi.encode(deadline, v, r, s)) function mintAndStake( address asset, uint256 amountIn, address receiver, uint256 minAmountOut, uint256 deadline, bytes calldata permitSig ) external Notes: * `minAmountOut` protects against price movement between submission and execution. If the oracle returns a value below this threshold, the transaction reverts. * `deadline` prevents stale transactions from executing after mempool delays. * The contract uses existing ERC-20 allowance, If allowance for the manager is already at least \`amountIn\`, then the contract skips the permit call. If it is insufficient, a non-empty, valid encoded permit is required; ### [](https://docs.dre.app/developers#withdrawals) Withdrawals Withdraw dreUSD by burning it in exchange for USDC. Two paths are available on the `dreUSDManager`, each minting a separate NFT contract to represent the withdrawal request. #### [](https://docs.dre.app/developers#standard-withdrawal-7-days-no-fee) **Standard withdrawal (7 days, no fee):** Copy /// @notice Request a standard withdrawal. dreUSD is burned immediately. /// An NFT representing the withdrawal claim is minted to the caller. /// @param dreUSDAmount Amount of dreUSD to withdraw (18 decimals) /// @param minUsdcAmount Minimum USDC to receive (slippage protection, 6 decimals) /// @param deadline Timestamp after which the transaction reverts /// @return tokenId The minted withdrawal NFT token ID function requestWithdrawal( uint256 dreUSDAmount, uint256 minUsdcAmount, uint256 deadline ) external returns (uint256 tokenId) #### [](https://docs.dre.app/developers#express-withdrawal-6-hours) **Express withdrawal (~6 hours):** Copy /// @notice Request an express withdrawal. dreUSD is burned immediately. /// An NFT is minted from the express withdrawal contract. /// Subject to global express capacity. If the requested amount /// exceeds available capacity, only the available portion is processed. /// @param dreUSDAmount Amount of dreUSD to withdraw (18 decimals) /// @param minUsdcAmount Minimum USDC to receive after fees (slippage protection, 6 decimals) /// @param deadline Timestamp after which the transaction reverts /// @return expressTokenId The minted express withdrawal NFT token ID function requestExpressWithdrawal( uint256 dreUSDAmount, uint256 minUsdcAmount, uint256 deadline ) external returns (uint256 expressTokenId) Notes: * Both functions burn dreUSD immediately on request. The NFT represents the claim on USDC. * Withdrawal NFTs are ERC-721 tokens from separate contracts (one for standard, one for express). They are transferable. * Standard withdrawals are filled after the waiting period (default 7 days) by the Treasury role. * Express withdrawals are filled from a dedicated liquidity pool by the Express Operator role. * Express fee is deducted from the USDC amount. Use `calculateExpressFee` to preview. ### [](https://docs.dre.app/developers#dreusds) [dreUSDs](https://basescan.org/address/0x13F7Cbd3562e276b49AAdFf9b3Eef67561371bcF#code) dreUSDs is a standard [ERC-4626](https://ethereum.org/en/developers/docs/standards/tokens/erc-4626/) vault. Any protocol or wallet that supports ERC-4626 can interact with it directly. The functions below are from the ERC-4626 standard. #### [](https://docs.dre.app/developers#staking-dreusd-to-dreusds) Staking (dreUSD to dreUSDs) Copy /// @notice Deposit dreUSD into the vault and receive dreUSDs shares /// @param assets Amount of dreUSD to deposit (18 decimals) /// @param receiver Address to receive dreUSDs shares /// @return shares Number of dreUSDs shares minted function deposit(uint256 assets, address receiver) external returns (uint256 shares) #### [](https://docs.dre.app/developers#unstaking-dreusds-to-dreusd) Unstaking (dreUSDs to dreUSD) Copy /// @notice Redeem a specific number of dreUSDs shares for dreUSD /// @param shares Number of dreUSDs shares to burn /// @param receiver Address to receive dreUSD /// @param owner Address that owns the dreUSDs shares /// @return assets Amount of dreUSD returned function redeem(uint256 shares, address receiver, address owner) external returns (uint256 assets) Notes: * Deposit and redeem are instant. * On every deposit and redeem request, the vault claims pending vested rewards from the distributor. This ensures the share price is current before calculating shares issued or dreUSD returned. * Redeem returns dreUSD. To exit to USDC, a separate withdrawal request through dreUSDManager is required. ### [](https://docs.dre.app/developers#view-functions) View Functions #### [](https://docs.dre.app/developers#dreusds-1) dreUSDs Copy /// @notice Total dreUSD held in the vault (including vested rewards) function totalAssets() external view returns (uint256) /// @notice Preview how many dreUSDs shares a deposit would return function convertToShares(uint256 assets) external view returns (uint256 shares) /// @notice Preview how much dreUSD a share amount is worth function convertToAssets(uint256 shares) external view returns (uint256 assets The share price is derived from `totalAssets() / totalSupply()`. It can only increase or stay flat. #### [](https://docs.dre.app/developers#express-withdrawal) Express Withdrawal Copy /// @notice Current available express withdrawal capacity (in USDC, 6 decimals) function getExpressAvailable() external view returns (uint256) /// @notice Calculate the fee and net amount for an express withdrawal /// @param usdcAmount USDC amount before fee /// @return feeAmount Fee that would be charged /// @return userReceives Amount the user would receive after fee function calculateExpressFee(uint256 usdcAmount) external view returns (uint256 feeAmount, uint256 userReceives) #### [](https://docs.dre.app/developers#withdrawal-nfts) Withdrawal NFTs Both standard and express withdrawal NFT contracts expose the same interface. Copy /// @notice Position data stored on-chain for each withdrawal NFT struct Position { address user; // Original creator uint256 usdcAmount; // USDC amount owed uint256 createdAt; // Creation timestamp } /// @notice Get position data for a withdrawal NFT function getPosition(uint256 tokenId) external view returns (Position memory) /// @notice Check if a withdrawal position exists (has not been filled/burned) function positionExists(uint256 tokenId) external view returns (bool) /// @notice Get the pending token ID range for unfilled positions /// @return startTokenId First pending token ID /// @return endTokenId Last pending token ID function getPendingRange() external view returns (uint256 startTokenId, uint256 endTokenId) [PreviousRisks](https://docs.dre.app/trust-and-security/risks) [NextContract Addresses](https://docs.dre.app/developers/contract-addresses) Last updated 1 month ago --- # DRE Points | DRE Docs DRE rewards early depositors with points. Deposit dreUSD or dreUSDs, earn points daily, and receive partner token rewards at the end of each campaign. ### [](https://docs.dre.app/rewards#how-it-works) How It Works 1. Deposit dreUSD or dreUSDs to start earning points 2. Check in weekly to activate a boost multiplier 3. Deploy dreUSD across DeFi for higher multipliers 4. Refer friends to earn 10% of their points 5. Claim rewards at the end of each campaign ### [](https://docs.dre.app/rewards#earning-points) Earning Points Points accrue daily based on the amount deposited. Asset Rate dreUSD 10 points per $100 per day dreUSDs 3 points per $100 per day dreUSD earns points at a higher rate because it does not generate yield on its own. dreUSDs already earns yield from the underlying reserves, so its points rate is lower to balance total rewards. ### [](https://docs.dre.app/rewards#defi-multipliers) DeFi Multipliers Points multiply when dreUSD or dreUSDs is deployed across supported DeFi protocols. Activities like providing liquidity, lending, and using selected DeFi Vaults each carry different multipliers. Higher multipliers reflect higher commitment and risk. #### [](https://docs.dre.app/rewards#how-multipliers-stack) How Multipliers Stack DeFi multipliers, weekly check-in boosts, and DRE Status bonuses all stack together. **Example:** $10,000 dreUSD in a DEX liquidity pool with a 5x multiplier, a 1.3x check-in boost, and Visionary status (+5%) earns 6,825 points per day (1,000 base × 5 × 1.3 × 1.05). ### [](https://docs.dre.app/rewards#weekly-check-in) Weekly Check-In Check in once per week to activate a boost multiplier on all points earned. The boost lasts 7 days from activation. Each consecutive weekly check-in increases the multiplier. Consecutive Weeks Boost Week 1 1.1x Week 2 1.2x Week 3 1.3x Week 4 1.4x Week 5+ 1.5x (max) The boost applies across all earning opportunities. Missing a check-in does not reset your streak, but the boost is only active for 7 days after each check-in. #### [](https://docs.dre.app/rewards#flash-boosts) Flash Boosts Flash Boost events temporarily increase multipliers on specific activities. Flash Boosts are announced 24 hours in advance, and run for 7 days. Follow DRE on [Telegram](https://t.me/dre_app) and [X](https://docs.google.com/document/d/15FTwqcGsXKHjBSbHdNxxiB81psphLN_-ixT0O_jvwOI/edit#TODO) for alerts. ### [](https://docs.dre.app/rewards#dre-status) DRE Status DRE Status tracks cumulative days active within DRE. A "day active" is any day where at least 1 point is earned. Days do not need to be consecutive. Status Requirement Benefit Dreamer Any deposit Entry point Builder 60+ days active +5% points bonus Architect 120+ days active +10% points bonus Legend 270+ days active +15% points bonus The points bonus from DRE Status stacks with check-in boosts and DeFi multipliers. Status is permanent and never resets, even after withdrawal. ### [](https://docs.dre.app/rewards#referrals) Referrals Refer other users to DRE and earn 10% of all points they earn. The referral connection is permanent and there is no cap on the number of referrals. The referral bonus does not reduce the referred user's points. Both parties earn their full amount. A referred user depositing $10,000 in dreUSD earns 1,000 points per day. The referrer earns an additional 100 points per day from that activity. [PreviousGovernance](https://docs.dre.app/stablecoin/governance) [NextAudits](https://docs.dre.app/trust-and-security/audits) Last updated 5 days ago --- # Audits | DRE Docs At DRE, maintaining the robustness and reliability of our smart contract infrastructure is a core priority. We achieve this through comprehensive, independent security reviews designed to identify potential vulnerabilities, structural risks, and operational inefficiencies. These assessments, conducted by leading industry specialists, strengthen the integrity of our systems and reinforce confidence in the protocol. ### [](https://docs.dre.app/trust-and-security#approach-to-audits) Approach to Audits DRE is undertaking a multi-phased audit program to ensure the highest level of security on the protocol, and will have audits on a regular basis to ensure security is always maintained at the highest standard. Phase 1: Conducted initial audits with [Spearbit](https://cantina.xyz/solutions/spearbit) and [Quantstamp](https://quantstamp.com/) on the dreUSD stablecoin protocol where no critical or high level vulnerabilities were found. Phase 2: Audit Contest with [Sherlock](https://sherlock.xyz/solutions/audit-contests) (Scheduled for April 9th) Phase 3: Bug bounty program with [Cantina](https://cantina.xyz/solutions/bounties) (Scheduled to go live at protocol launch) Phase 4: Public Transparency dashboard by DRE, and 3rd party verification of asset backing. Web3soc evaluation to access Operations, Financial backing, Security, and Regulatory compliance. ### [](https://docs.dre.app/trust-and-security#smart-contract-audits) Smart Contract Audits Auditor Date Scope Report Spearbit Feb 2026 dreUSD smart contracts [Report](https://github.com/dre-labs/transparency/blob/d872a6836cd571c0f0a7fa513cb7b08ace62b2b2/audits/dreusd/2026-02-spearbit-dreusd.pdf) QuantStamp Feb 2026 dreUSD smart contracts [Report](https://github.com/dre-labs/transparency/blob/d872a6836cd571c0f0a7fa513cb7b08ace62b2b2/audits/dreusd/2026-03-quantstamp-dreusd.pdf) The audit covers all core smart contracts for dreUSD. Additional audits will occur as we make updates. This table will be updated as reports are published. ### [](https://docs.dre.app/trust-and-security#dreusd-reserves-audits) dreUSD Reserves Audits The asset backing of dreUSD is independently audited. These audits verify the composition, valuation, and overcollateralization of the reserves. Reports will be published on the DRE app in the Transparency dashboard. ### [](https://docs.dre.app/trust-and-security#bug-bounty) Bug Bounty DRE runs a public bug bounty program through [Cantina](https://cantina.xyz/) . Security researchers can submit vulnerabilities for review. Valid findings are rewarded based on severity. For scope, rules, and submission details, see DRE's program page on Cantina. [PreviousDRE Points](https://docs.dre.app/rewards/dre-points) [NextRisks](https://docs.dre.app/trust-and-security/risks) Last updated 1 month ago --- # Brand Guide | DRE Docs ### [](https://docs.dre.app/resources#about-dre) About DRE **Short description:** DRE is the next evolution of banking. Your deposits earn real returns from mortgages, bonds, and cash. One app to save, spend, invest, and move money globally. **Long description:** We connect your money directly to the same assets banks use: mortgages, bonds, and cash instruments. The difference is where the returns go. At a bank, shareholders keep the spread. At DRE, the majority flows back to you. One app handles saving, spending, investing, and global payments. No crypto knowledge required. No hidden fees. Your money actually works for you. ### [](https://docs.dre.app/resources#logo) Logo #### [](https://docs.dre.app/resources#primary-logo) Primary Logo The DRE logo is the main brand mark used across all materials. It includes the wordmark and should be used wherever space allows. 233KB [dre-logos.zip](https://2433215382-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FVMbUKBLsBkPfew6jAaWF%2Fuploads%2FPlufS2oC8WzkWnT688OX%2Fdre-logos.zip?alt=media&token=6c0bfe6c-72a0-4331-9797-cb614fce0b1e) archive Download[Open](https://2433215382-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FVMbUKBLsBkPfew6jAaWF%2Fuploads%2FPlufS2oC8WzkWnT688OX%2Fdre-logos.zip?alt=media&token=6c0bfe6c-72a0-4331-9797-cb614fce0b1e) #### [](https://docs.dre.app/resources#icon) Icon The DRE icon is the compact brand mark used where the full logo doesn't fit. 473KB [dre-icons.zip](https://2433215382-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FVMbUKBLsBkPfew6jAaWF%2Fuploads%2FGGmstG3Nq08v0ihAPvCG%2Fdre-icons.zip?alt=media&token=8e036c5d-0d56-47a9-b579-c83ac182c15e) archive Download[Open](https://2433215382-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FVMbUKBLsBkPfew6jAaWF%2Fuploads%2FGGmstG3Nq08v0ihAPvCG%2Fdre-icons.zip?alt=media&token=8e036c5d-0d56-47a9-b579-c83ac182c15e) #### [](https://docs.dre.app/resources#token-logo) Token Logo _Token logos will be added as products launch._ ### [](https://docs.dre.app/resources#brand-colors) Brand Colors DRE's palette draws from the colors of dawn. Bright orange leads the brand, supported by secondary tones of yellow and blue. Neutral grays are inspired by precious metals and construction materials. #### [](https://docs.dre.app/resources#primary-palette) Primary Palette ![](https://docs.dre.app/~gitbook/image?url=https%3A%2F%2F2433215382-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FVMbUKBLsBkPfew6jAaWF%252Fuploads%252FH7nR8pAFInoolaq15t6V%252Fdre-primary-colors.png%3Falt%3Dmedia%26token%3D9c5cec71-df14-46bc-bf4a-572ad69661be&width=768&dpr=3&quality=100&sign=bebecee8&sv=2) #### [](https://docs.dre.app/resources#neutral-tones) Neutral Tones ![](https://docs.dre.app/~gitbook/image?url=https%3A%2F%2F2433215382-files.gitbook.io%2F%7E%2Ffiles%2Fv0%2Fb%2Fgitbook-x-prod.appspot.com%2Fo%2Fspaces%252FVMbUKBLsBkPfew6jAaWF%252Fuploads%252FnzCZE9jf0WkkLzprWOjN%252Fdre-neutral-colors.png%3Falt%3Dmedia%26token%3D56fe8f89-1094-442b-99e3-c13a2ccccdae&width=768&dpr=3&quality=100&sign=4c5129e8&sv=2) ### [](https://docs.dre.app/resources#usage-guidelines) Usage Guidelines #### [](https://docs.dre.app/resources#do) Do * Use the official logo files provided in this guide. * Maintain adequate clear space around the logo (minimum equal to the height of the "D" in DRE). * Use the dark logo variant on light backgrounds and the light variant on dark backgrounds. * Link back to [dre.app](https://dre.app/) and [@dre\_app](https://x.com/dre_app) when featuring DRE assets. #### [](https://docs.dre.app/resources#dont) Don't * Do not stretch, distort, rotate, or skew the logo. * Do not change the logo colors or apply effects (shadows, gradients, outlines). * Do not place the logo on busy backgrounds where it loses legibility. * Do not use DRE branding to imply endorsement or partnership without approval. * Do not use outdated logo versions. [PreviousContract Addresses](https://docs.dre.app/developers/contract-addresses) [NextFAQ's](https://docs.dre.app/resources/faqs) Last updated 2 months ago ---