USPD (US Permissionless Dollar) is a decentralized stablecoin protocol. Its purpose is to provide a stable, censorship-resistant digital dollar that is fully backed by on-chain collateral. Users mint USPD by depositing staked Ethereum (stETH) and in return receive a stablecoin that also earns a native, passive yield from the underlying staking rewards. The protocol's stability is maintained by a decentralized network of actors, ensuring it remains permissionless and aligned with the core principles of DeFi.