Generic Unit

Generic Unit is a share token that represents user ownership in the Generic protocol, adhering to the ERC7575 Multi-Asset Vaults standard. It serves as the protocol's primary medium for value transfer and storage while maintaining its peg. Users can mint Generic Unit by depositing assets into vaults and redeem it to withdraw their underlying assets.

Bridging of Generic Unit

Generic Unit is a natively multichain asset. When users bridge Generic Unit to a periphery chain, the main chain tokens are locked in the bridge contract, and an equivalent amount of Generic Unit is minted on the destination chain. Conversely, when bridging back to the main chain, the periphery chain tokens are burned, and the corresponding main chain tokens are released from the bridge.

Whitelabeled Units

Generic Unit can be wrapped into branded whitelabeled tokens such as GUSD at a 1:1 ratio. These whitelabeled tokens give users the ability to deploy a new brand on top of Generic Unit while maintaining the same underlying economics and collateral backing.

Whitelabeled tokens can also implement additional functionality beyond basic wrapping, such as custom transfer restrictions, rebasing mechanisms, or integration-specific features, while still maintaining the 1:1 peg with Generic Unit.