The oUSD token is Fractional-Algorithmic Stablecoin which is issued by the Orcus Finance protocol.
The oUSD token doesn't have any hard cap or fixed total supply, the circulation supply of stablecoin depends on the current market supply and demand.
oUSD - a stablecoin, which is partially backed by the USDC as collateral on the one side, and the governance native token - ORU, on the other. The first stablecoin with dynamic collateralization level.
The collateralization ratio depends on TCR and ECR, which are used for mint and redeem actions respectively.
At the launch, oUSD is 95% collateralized: minting oUSD requires providing the appropriate ratio of collateral and burning the ratio of ORU.
The protocol is intended to take any sort of cryptocurrency as collateral; however, adopting on-chain stablecoins as collateral will help level out volatility, allowing oUSD to gradually shift to more algorithmic ratios. As the system's velocity rises, it becomes simpler and safer to incorporate risky tokens like wrapped ETH and wrapped BTC into future pools according to the governance decision.