Theo
AuditedVerifiedNewTheo is an institutional-grade on-chain finance platform whose flagship product, thUSD, is a yield-bearing stablecoin generating returns from a delta-neutral gold carry trade, alongside tokenised Treasury-bill (thBILL) and gold (thGOLD) products.
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Score history
This rating is re-checked every month. A point is recorded for every check, so a flat line means we looked and nothing moved. Hover anywhere on the chart to see what moved that month, and by how much.
The Problem
Institutional trading strategies (delta-neutral carry, basis, funding-rate arbitrage) and their yields have historically been inaccessible to on-chain capital, and existing yield stablecoins concentrate their exposure in ETH/BTC funding rates.
The Solution
thUSD packages a delta-neutral gold carry trade — long gold vs short CME gold futures, plus roll yield, gold-lending interest, and T-bill buffers — into a yield-bearing stablecoin that pays ~7–8% while hedging directional price risk.
Why it Matters
The first yield-bearing gold-backed delta-neutral stablecoin, run by an ex-Optiver/IMC quant team with institutional custody (FundBridge/Libeara) and multi-venue (CME + CeFi) execution.
Protocol Metrics
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View allFrequently asked questions about Theo
What is Theo?+
Theo is a Stablecoin protocol operating on Ethereum, Arbitrum, Base, Linea, Solana. Theo is an institutional-grade on-chain finance platform whose flagship product, thUSD, is a yield-bearing stablecoin generating returns from a delta-neutral gold carry trade, alongside tokenised Treasury-bill (thBILL) and gold (thGOLD) products.
How does Theo work?+
thUSD packages a delta-neutral gold carry trade — long gold vs short CME gold futures, plus roll yield, gold-lending interest, and T-bill buffers — into a yield-bearing stablecoin that pays ~7–8% while hedging directional price risk.
Is Theo safe?+
DeFi Sentinel rates Theo BB with a safety score of 62/100, indicating elevated risk. The score reflects five risk dimensions: smart contract & technical risk, economic design & market risk, governance & centralization, sustainability & competitive position, and reputation & social trust. Theo has 3 audits on record. DeFi Sentinel's analysis flagged 4 high, 4 medium, 2 low risk alerts across Smart Contract & Technical Risk, Economic Design & Market Risk, Governance & Centralization and Sustainability & Competitive Position. As with all DeFi protocols, residual risk remains and users should review the full risk breakdown before depositing.
What is the safety score of Theo?+
Theo has a DeFi Sentinel safety score of 62/100 (rating BB), last updated September 17, 2026. The score is computed across smart contract & technical risk (30%), economic design & market risk (25%), governance & centralization (20%), sustainability & competitive position (15%), and reputation & social trust (10%).
Which chains does Theo support?+
Theo is deployed on Ethereum, Arbitrum, Base, Linea, Solana.
Has Theo been audited?+
Yes. Theo has 3 audit reports on record from firms including Zellic, Zenith, Pashov Audit Group. Audit reports and dates are linked under the Resources tab on this page.