> For the complete documentation index, see [llms.txt](https://docs.useicaria.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.useicaria.xyz/assets/usdg.md). # Quote asset: USDG The asset on the other side of every market Icaria runs. Every market prices against **USDG**, the Paxos Global Dollar. Spreads, fees and vault accounting are denominated in it, and token-to-token trades pass through it. ## Why USDG | Reason | Detail | | ------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Native to the chain | Robinhood Chain issues USDG natively rather than receiving it over a bridge, which keeps bridge risk out of the settlement path entirely. | | The chain's dollar | Robinhood Earn and the chain's Morpho lending markets already run on USDG. Whatever dollar a trader turns up holding is therefore the dollar the venue quotes. | | Regulatory footing | USDG falls under MiCA in the EU, which matters for a venue whose first market is defined by the Stock Token jurisdiction list. | | Clean semantics | A standard ERC-20 with no fee-on-transfer and no rebasing, which is exactly what vault accounting needs underneath it. | ## One quote asset, chosen deliberately Routing everything through one quote asset gathers liquidity together instead of scattering each Stock Token across several stablecoin pairs. It also makes prices directly comparable and keeps two-leg [routing](/protocol/routing.md) simple enough that the chain can verify it. What this costs is a dependency on one issuer, disclosed next to the venue's other dependencies in the [Risk framework](/risk/framework.md). ## Additional quote assets Since market configuration keys off the quote asset, introducing a second one (USDC over CCTP once bridged liquidity is confirmed, or USDe, which is already present on the chain) would create a fresh, isolated set of markets and leave the existing ones exactly as they are. Any new quote asset waits on confirmed bridged liquidity and on the same bytecode review every listed asset undergoes, then moves through the timelock like any other parameter. ## Decimals and precision Six decimals on USDG, eighteen on Stock Tokens. `OracleRouter` reports prices as quote-asset base units per whole token, vault value comes out as `usdgBalance + tokenBalance × price / 10^18`, and the invariant suite pushes that arithmetic across both decimal regimes, rounding direction on share mints and burns included. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.useicaria.xyz/assets/usdg.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.