STUSDT
Singapore | January 29, 2024 09:00 AM Eastern Standard Time On July 3, 2023, the TRON ecosystem welcomed its first Real-World Asset (RWA) product, stUSDT, which is operated by the decentralized financial platform JustLend DAO. The stUSDT platform is dedicated to narrowing the divide between retail and institutional investors while connecting the crypto realm with the real world. stUSDT ensures equal opportunities for all to invest in RWAs.
What is stUSDT stUSDT is a receipt token that complies with the TRC-20 and ERC-20 standards and can be obtained by staking USDT into the stUSDT-RWA Contract. It supports transfers and can be utilized in other DeFi protocols. The exchange rate between stUSDT and USDT is maintained at 1:1 by the stUSDT-RWA Contract (special rules may apply). Staking rewards are distributed in the form of stUSDT through a daily rebase. There is also a wrapped version of stUSDT, known as wstUSDT. While a holder's stUSDT balance increases as it receives daily rebase rewards, wstUSDT accrues the underlying stUSDT rewards and will constantly increase in value beyond 1 stUSDT. Growth Since its launch, stUSDT has made an immediate impact on the market, with its TVL surpassing $22 million within the first 24 hours. The TVL has continued to rise ever since. On September 29, stUSDT ascended to the top 10 protocols in the DefiLlama TVL rankings, closing out the year with a TVL of $2.29 billion and boasting over 350,600 stakers. For the past three months, the APY on both the TRON and Ethereum networks has remained consistent, ranging from 4.7% to 4.8% for each network. Key events On July 14, the stUSDT platform officially launched wstUSDT (wrapped stUSDT), a non-rebasing version of stUSDT. On July 27, the stUSDT platform added support for the Ethereum network. This integration empowers users to effectively manage and invest their assets by leveraging the diverse Ethereum ecosystem. On August 14, the stUSDT platform introduced support for TUSD staking. With this new feature, users can stake TUSD or USDT to obtain stUSDT, thereby earning rewards through the Rebase mechanism. On October 10, the proposal from Curve to add a gauge for the stUSDT/crvUSD pool was passed. On November 24, the proposal to empower JST by allocating stUSDT protocol revenue for JST/TRX liquidity pooling in SunSwap V2 was passed.
Conclusion In an ever-evolving space where TradFi and DeFi often seem at odds, stUSDT is one of the pioneers striving to create a product that combines the best of both worlds and propels the next phase of growth in the blockchain industry. The introduction of stUSDT has sparked industry-wide excitement. The platform is committed to keeping pace with market trends and user needs. Furthermore, it will consistently enhance its platform capabilities and seek out new investment opportunities to improve the user experience.
Disclaimer: Please be aware that stUSDT and any related services or offerings are not available to users in the United States. This restriction includes any transactions, interactions, or engagements with stUSDT. Users residing in the U.S. should not participate in stUSDT-related activities.
ABOUT stUSDT stUSDT is the receipt token users receive upon staking USD stablecoins on the platform. This decentralized intermediary to real-world assets allows holders to participate in real-world investment directly and start earning rewards. The platform builds the stUSDT-RWA Contract, asset management mechanism, investment strategy, and data disclosure policy around RWA DAO, which is a decentralized self-governance community of RWA investment based on blockchains. RWA DAO strives to offer users a transparent, fair, and secure channel for RWA investment, while ensuring oversight and disclosure on investment operations, prioritizing the equity of its investors. Website | Twitter | Telegram | Discord | Medium
Contact Details Curly Lu contact@stusdt.io Dissemination of a CORPORATE NEWS, transmitted by EQS Group. |
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