Falcon USD wallet

What is Falcon USD (USDF)?

Falcon USD, written USDf by its issuer, is a synthetic dollar rather than a fiat-backed stablecoin: it is minted against crypto collateral deposited into Falcon Finance and is designed to track one US dollar. Collateral can be stablecoins or volatile assets such as BTC and ETH, with volatile deposits overcollateralized. Minting and redeeming go through Falcon's own app and require identity verification, so most holders get USDF the simpler way, by swapping for it on the open market, and that route has no allowlist.

Two things matter for a holder. First, USDF does not rebase and its balance never changes by itself. If you stake it inside Falcon you receive sUSDF, a separate vault token whose exchange rate against USDF moves by design; plain USDF in your wallet keeps the same balance, and it is the plain token this page is about. Unstaking sUSDF back into USDF is immediate; it is redeeming USDF for the underlying collateral through Falcon that has a cooldown period.

Second, USDF is an ERC-20 style token on every network it lives on, so it never pays for its own transfers: you need ETH on Ethereum, BNB on BNB Smart Chain or XDC on XDC Network in the same wallet to move it. The ticker is not unique either, several unrelated tokens have used "USDF", and the Falcon version on one chain is not the Falcon version on another, so the network matters as much as the name.

Supported networks in Tangem (3): Ethereum, BNB Smart Chain, XDC Network. Tangem keeps a separate USDF balance per network and shows which network a transfer will leave on before the card signs it, so you can compare it with what the recipient expects. For a token that appears under the same name on several chains, that one check before signing makes it worth holding here.