Resupply (RSUP): tokenomics, risks and score
A stablecoin protocol backed by receipts from other lending markets, which was exploited in June 2025 shortly after launch.
What Resupply is, and what it does
This is a stablecoin. It is designed to hold a fixed value, almost always one US dollar, so it can be used for payments and trading without the price moving underneath you.
What the RSUP token itself does: It receives a share of the fees the protocol collects, so holding it is a claim on real revenue.
Where it runs: Ethereum. Mechanism: Stablecoin backed by lending receipts. It has been running since 2025, so roughly 1 years.
The facts
- TICKER
- RSUP
- SECTOR
- Stablecoins
- CHAIN
- Ethereum
- LAUNCHED
- 2025, so around 1 years of operating history
- MECHANISM
- Stablecoin backed by lending receipts
- MAXIMUM SUPPLY
- Not fully documented
- VALUE CAPTURE
- Fee share
- UPGRADE CONTROL
- Multisig
- VESTING
- Not published
- LIQUIDITY BAND
- Micro cap. Thin, often a single venue or pool. Treat the quoted price as indicative only.
How the score breaks down
Each dimension is explained on the directory page, and the reasoning behind it is taught in the Academy research process.
Supply and value capture
A hard maximum supply that cannot be raised without the agreement of essentially every participant. A share of protocol fees reaches holders directly, which is the strongest form of value capture available.
A multisignature wallet controls upgrades. Better than one key and still a small group of people. Ownership is heavily concentrated. A small number of wallets hold enough to determine the price on their own.
Where it is strong and where it is not
- The failure is a clear teaching case about depending on another protocol's pricing
- Exploited within months of launch for roughly ten million dollars
- Depended on another protocol's exchange rate as collateral pricing
- Pseudonymous team with incomplete supply documentation
- The protocol did not recover from the incident
Incident history
An attacker manipulated the exchange rate of a lending receipt used as collateral, minting roughly ten million dollars of stablecoin against negligible backing.
Our read
The main risk
Exploited within months of launch through a dependency on another protocol's pricing. Treat as residual.
Before you buy anything
Check the contract address against the project's own documentation rather than a search result or a screener link, since impersonation tokens with identical names and logos are listed constantly. Check the order book depth before assuming you can exit at the quoted price. And write down what would make you wrong before you buy, not after. The Academy thesis module covers why that single habit protects more capital than any indicator.