> For the complete documentation index, see [llms.txt](https://docs.piku.co/piku/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.piku.co/piku/overview.md).
# Overview
**Products Overview**
The Piku ecosystem encompasses essential components required to cultivate the ideal yield-optimized stablecoin, ranging from transparent yield backings to a DAO led decision-making process. Below is an introductory overview of Piku's products.
### [**USP - Yield Optimized Stablecoin**](/piku/piku-finance/vaults/usp-yield-optimized-stablecoin.md)
USP is a stablecoin backed by delta neutral yield strategies and the users can mint USP with USD Stablecoins. The goal is to diversify USP's backing with assets like arbitrage strategies, carry trades, on-chain DeFi yield and real-world assets (RWAs). This diversification is aimed at optimizing USP's yield on a changing macro environment.
### [**Vaults**](/piku/piku-finance/vaults.md)
[**Morini FXArbUSDTRY**](/piku/piku-finance/vaults/morini-fxarbusdtry-vault.md)\
This vault provides tokenized access to FXArbUSDTRY, a delta-neutral market-making fund in the Turkish crypto market. The strategy captures spreads between USD/TRY rates on Turkish crypto exchanges (Binance TR, OKX TR) and fiat banking rails, executing T+0 arbitrage on intra-day price discrepancies and T+1 carry on overnight FX forwards with institutional Turkish commercial banks. TRY positions are continuously hedged, so returns come from spread capture rather than directional exposure. The strategy has been running since October 2023 with net returns of 72.1% in 2024, 17.5% in 2025, and 15.0% YTD 2026 (net of underlying fund fees). Trading operates 24/7. Redemptions are processed at least once per business day. Business days follow the Turkish calendar — exceptions may apply on public holidays. Minimum deposit amount is 1,000 USDC and redemption amount is 1,000 FXArbUSDTRY.
[**Morini StockMarketTRBasisTrade Vault**](/piku/piku-finance/vaults/morini-stockmarkettrbasistrade-vault.md)\
This vault provides access to a regulated Delta-Neutral Basis Trade arbitrage strategy on Borsa Istanbul equities. This strategy captures pricing discrepancies between Turkish cash equities and their Single Stock Futures (SSF) counterparts, generating basis trade spreads through high-frequency trading infrastructure. Each futures position is matched with an offsetting equity leg, and currency exposure is fully hedged, ensuring returns are realized in USD without market direction or FX risk. The underlying vehicle is a CMB (Turkey's SEC; SPK in Turkish) regulated fund. ISIN Number: TRYVVGS00891
[**Morini CarryTradeUSDTRYLeverage Vault**](/piku/piku-finance/vaults/morini-carrytradeusdtryleverage-vault.md)\
TRY leveraged carry capturing overnight rates and USD/TRY futures mispricings. Executed via Lidya Trading's FPGA-based high-frequency infrastructure across Borsa İstanbul (BIST), VIOP, and OTC FX/money markets. Underlying fund is unhedged TRY with CMB (Turkey's SEC; SPK in Turkish)-permitted leverage applied.
### [**Piku Platform**](/piku/piku-platform/token-and-workflow-contracts.md)
A Web3 platform that facilitates the minting and redemption of USP tokens and the governance dashboard for PikuDAO. The platform will be accessible by users who connect their digital wallets and verify their identity.
### [**PikuDAO**](/piku/pikudao/piku.md)
PikuDAO’s mission is to establish a fully decentralized decision-making process, focused on determining the economics of the optimal store of value currency. PikuDAO leads the future direction of Piku by utilizing a governance process with its utility token PIKU.
## Token Ecosystem
Piku ecosystem is structured around three pivotal tokens: **USP**, the yield-optimized stablecoin designed to offer stability and resilience against market volatility; **PIKU**, the utility token empowering PikuDAO to steer the project's direction through democratic voting; and **sPIKU,** a representation of voting power in the DAO's governance, obtained through staking PIKU tokens.
The following sections will provide a comprehensive overview of these tokens, outlining their mechanisms, use-cases, and how they collectively contribute to a decentralized and inclusive financial future.
Yield Optimized Stablecoin: **USP**
Utility token: **PIKU**
Staked Utility Token: **sPIKU**