> For the complete documentation index, see [llms.txt](https://docs.apyx.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.apyx.fi/product-overview/alqusd.md). # alqUSD alqUSD, or Apyx Liquid USD, is the underlying account asseting for aptUSD. It is designed to maintain a value of $1.00 and functions primarily as an onchain accounting asset supporting the operation of aptUSD. Unlike aptUSD, alqUSD is not designed as a yield product for market participants. Instead, it serves as the base asset against which aptUSD accrues value. alqUSD is redeemable 1:1 for U.S. dollars through approved redemption channels, providing the underlying dollar reference for the aptUSD system. ### Relationship Between alqUSD and aptUSD aptUSD is the yield-bearing asset, while alqUSD is its non-yield-bearing underlying asset. As U.S. Treasury yield accrues to the system, aptUSD appreciates relative to alqUSD through an increasing exchange rate. The aptUSD token balance does not need to rebase or increase; instead, each aptUSD becomes redeemable for a greater amount of alqUSD over time. For example, aptUSD may initially have an exchange rate of 1 aptUSD to 1 alqUSD. As yield accrues, that exchange rate can increase, allowing each aptUSD to represent more alqUSD. This mechanism enables aptUSD holders to accrue yield without requiring a rebasing token balance. alqUSD itself does not earn yield. Its role is to provide the stable underlying accounting asset that enables aptUSD’s yield-accrual mechanism. ### Role Within the aptUSD System alqUSD is primarily an operational asset rather than a standalone Apyx yield product. It is used for onchain accounting and to represent underlying positions within the aptUSD system, while aptUSD is the user-facing asset designed to provide market participants with liquid access to U.S. Treasury-backed yield. This distinction allows aptUSD to maintain a simple user experience while its underlying accounting and yield-accrual mechanics operate through alqUSD. Market participants looking to earn Treasury-backed yield should generally interact with aptUSD rather than alqUSD. ### Key Information **Asset:** Apyx Liquid USD (alqUSD)\ **Role:** Underlying accounting asset for aptUSD\ **Yield-Bearing:** No\ **Target Value:** $1.00\ **Redemption:** Redeemable 1:1 for USD through approved redemption channels\ **Relationship to aptUSD:** Underlying asset used to measure aptUSD’s increasing exchange rate\ **Network:** Ethereum --- # 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.apyx.fi/product-overview/alqusd.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.