> For the complete documentation index, see [llms.txt](https://elysia.gitbook.io/elysia-whitepaper-v2.2/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://elysia.gitbook.io/elysia-whitepaper-v2.2/ecosystem/elusd.md).

# ELUSD

ELUSD is a dollar-denominated synthetic asset developed by ELYSIA that captures the Korea premium (also known as the Kimchi Premium), the price gap between Korean and global crypto markets.

* ELUSD is minted 1:1 against USDT.
* Staking ELUSD issues sELUSD, a yield-bearing token whose exchange rate rises as the strategy realizes returns.
* The strategy captures the spread and hedges currency exposure, rather than betting on price direction.

Docs: [ELUSD documentation](https://elysia.gitbook.io/elusd)