
A programmatically compliant, bank-issued token pegged 1:1 to the US dollar. A tokenized deposit within the Hazel Network, designed to be a GENIUS Act regulated payment stablecoin beyond it.
Avit is Hazel Network's unified token. A single, integrated smart contract issues Avit as a tokenized deposit when held within the consortium of banks, and as a stablecoin designed to comply with the GENIUS Act, redeemable one-to-one for a US dollar when held by anyone else. The legal character changes automatically at the consortium boundary, and reserve requirements are enforced at the protocol level.
View the Avit contract on mainnetThe terms of each Avit transferable record can be found in the source code for each Avit, which can be found in the source code of the implementation contract (via the proxy contract) located here: https://eth.blockscout.com/address/0xCcdc193AcF86160dDC79E20F7e471e53f2AF8Ecb?tab=index. As further described in such terms, each Avit is a transferable record pursuant to Section 16 of the Uniform Electronic Transactions Act, pursuant to which Custodia unconditionally promises to pay a holder one (1) U.S. dollar to redeem one (1) Avit on demand. Custodia is at all times subject to applicable Law, including, without limitation, that any Avit may be forfeited or subject to forfeiture to, or seizure by, a law enforcement agency, if the Avit has been or is being used for illegal activity or is subject to a legal order or other process, and that any Avit subject to such forfeiture or seizure, or that is otherwise subject to freezing or any similar limitation or use, may be wholly and permanently unrecoverable and unusable and may, in appropriate circumstances, be destroyed. For more information, please refer to the terms of each Avit located in its source code.