> For the complete documentation index, see [llms.txt](https://docs.jpegd.io/jpegd-dao/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.jpegd.io/jpegd-dao/about-the-jpegd-protocol/tokens/usdpusd.md).

# $PUSd

![](/files/jo5LoldPPFBK6wP0NW5S)

#### Overview

PUSd is the stablecoin synthetic of JPEG'd. It is minted when a user borrows against their NFT and burned when they decide to repay their loan. The base borrow rate for PUSd borrows on JPEG'd is **2%**.

Like pETH, PUSd is overcollateralized by the value of the NFTs in JPEG'd vaults.

#### Utility

* PUSd can be swapped to USDC / USDT / DAI using the [JPEG'd Swap](https://jpegd.io/swap), or by directly accessing the [Curve](https://curve.fi/#/ethereum/pools/factory-v2-281/swap) factory pool.

**A user cannot borrow both pETH and PUSd from the same vault.**

Learn how to borrow PUSd in our [borrowing](/jpegd-dao/cdp-lending-guides/borrowing.md) guide.