ERC-4626 virtual-share offset (OZ ≥4.9)

Circle USYC's assessment for RD-F-074 — scored not_applicable on the v1.7.0 rubric. The evidence below is the curator's reasoning for this score.

Evidence summary #

USYC is not an ERC-4626 vault. It is a plain ERC-20 (Ethereum) / BEP-20 (BSC) token with NAV-based pricing updated daily via a dedicated oracle contract. No share-calculation formula of the ERC-4626 type exists; token supply is managed by a permissioned Teller contract that mints/burns at current NAV price. The virtual-share-offset anti-inflation mechanism is not applicable to this architecture.

Sources #

Etherscan
Etherscan - USYC ERC-20 token (not ERC-4626)USYC Ethereum token contract 0x136471a34f6ef19fE571EFFC1CA711fdb8E49f2b - plain ERC-20 proxy, not ERC-4626 vault interface; Teller 0xeE35F963BFC71b51eC95147f26c030D674ea30e6 manages mint/burn at NAV priceretrieved 2026-05-16

Methodology #

Determine whether ERC-4626 vaults use OpenZeppelin ≥4.9 virtual-share offset pattern to prevent first-depositor share-inflation.

See the full factor methodology and distribution across all protocols →

rubric_version v1.7.0 protocol circle-usyc factor RD-F-074 score not_applicable collected_at 2026-05-15 21:56:43