Azos

Azos is an overcollateralised lending protocol on Base where users lock climate and regenerative assets into SAFE debt positions to borrow the dollar-pegged stablecoin AZUSD, with supply managed through automated market operations to hold the peg. Collateral includes Glo Dollar, Klima Protocol's carbon-credit asset kVCM, Helios solar assets HLSP, WETH and Treegens' TGN, priced by DIA oracles. It targets the illiquidity of carbon credits, solar and regenerative assets and their poor fit as loan collateral, giving them dollar liquidity without a sale, with mechanics drawing on MakerDAO, Reflexer and HAI.

On 7 May 2026 it published an AZUSD market note disclosing about USD 291,000 in environmental assets pledged, roughly 188,000 AZUSD borrowed and more than USD 60,000 of liquidity seeded by the team and partners. The same month AZUSD liquidity dried up on Hydrex and Aerodrome as the USDC side was drawn down, the price briefly fell below USD 1 and large exits became difficult. There is no one-to-one par redemption: AZUSD is only usable to repay debt and unlock collateral, so exit depends entirely on secondary-market depth.