The Fizk Protocol manages zkUSD, an algorithmic stablecoin. Fizk is modelled after the battle tested MakerDAO Dai, ported to the Mina Ecosystem. zkUSD is soft-pegged to the US Dollar, achieving price parity through a decentralised price feed from protocol oracles.

The supply of zkUSD comes from users that create collateralised vaults. Users deposit and lock MINA in these vaults, minting zkUSD against the locked value inside. The value of the users vault must be more than the value of the stablecoin they mint. This is called over-collaterlisation, which ensures that there is always more value locked in the system than outstanding debt, in the form of zkUSD.