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[PRESS RELEASE – Geneva, Switzerland, July 4th, 2023]
Today, the TRON ecosystem introduces its inaugural Real World Asset (RWA) product, stUSDT, which operates via the decentralized platform JustLend. Justin Sun, the founder of TRON and a member of Huobi’s global advisory board, has expressed his conviction that stUSDT will develop into the crypto equivalent of Alipay’s Yu’e Bao, a money market fund product provided by Alibaba. Sun believes it will act as a conduit linking traditional markets with blockchain ecosystems while offering crypto users enhanced choices. From July 10 to August 10, 2023, the stUSDT platform will launch a welcome initiative featuring an elevated APY of up to 10% (typically anticipated to be around 5%) to enrich users’ initial experience with RWAs on TRON. Additionally, users can benefit from reduced redemption fees for stUSDT from July 3 to August 10. For daily updates on the RWA fund allocation and rebases, please refer to Medium.
With a substantial global user base and a $50 billion stablecoin market capitalization, stUSDT, a TRON-based RWA product, has generated significant excitement within the industry upon its launch. It is set to become a foundational element for TRON’s RWA initiatives and aims to create a financial gateway that seeks to empower 8 billion individuals globally.
TRON’s RWA Product Unleashes New Opportunities
Currently, RWA is a trending concept in the crypto sector. The stUSDT platform is focused on bridging the gap between retail and institutional investors while linking the crypto space with the real world. stUSDT guarantees equal investment opportunities in RWAs for all. This marks the first effort within the TRON ecosystem to tokenize RWAs and present them to the community.
stUSDT, the TRON ecosystem’s counterpart to stETH on the Lido protocol, is a decentralized token that represents proof of investment in RWAs, allowing its holders to earn passive income from real-world assets. stUSDT introduces more decentralized and resilient asset management mechanisms. The primary objective of stUSDT is to enhance return opportunities for on-chain users from real-world assets. Initiated by RWA DAO, stUSDT is managed by JustLend DAO under a custody agreement between both parties. JustLend DAO holds the highest total value locked (TVL) on TRON and ranks among the leading DeFi projects. Furthermore, TRON maintains the largest circulating supply of USDT (over $46 billion) and a TVL second only to Ethereum, which will also foster the organic growth of stUSDT. The stUSDT team is optimistic about attracting a surge of new users and a broader expansion of the TRON ecosystem overall.
Create the Web3 Counterpart of Yu’e Bao
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Current market participants are continually investing time and resources to remain at the forefront of any new technological or product advancements in the crypto domain, and the substantial market growth over recent years is indicative of this trend. The emergence of liquidity mining during the “DeFi Summer” of 2020 has led to a flourishing decentralized lending market. At that time, a deposit rate of 10% for USD-pegged stablecoins was not unusual. As real-world interest rates were low, liquidity flowed towards on-chain DeFi lending markets.
However, with changing market dynamics, certain real-world assets have regained a significantly stronger position. For instance, the US Fed Funds Rate has risen above 5%, making the dollar a highly sought-after risk-free asset. In this new macroeconomic context, the DeFi sector is turning its attention to RWAs in an effort to explore new markets. In traditional finance, Yu’e Bao, Alipay’s money market fund product, has emerged as a convenient investment option. The TRON-based stUSDT is positioned as the Web3 equivalent of Yu’e Bao, marking a new chapter for the TRON ecosystem that could potentially mirror Alipay’s success. Just as Alipay opened the market with its payment services before expanding its user base with Yu’e Bao, TRON has established its leading role in Web3 on-chain payment infrastructure globally before the ecosystem reaches new heights with the launch of stUSDT.
Similar to Alipay’s Yu’e Bao, stUSDT allows users to earn passive income and withdraw their assets at any time while benefiting from the transparency, security, and immutability provided by blockchain technology. stUSDT offers a diverse array of opportunities for users by linking on-chain assets with real-world assets. Backed by TRON’s robust ecosystem, the platform is committed to a user-focused approach and acts as a dynamic bridge between traditional finance and blockchain. It is set to attract a new wave of blockchain enthusiasts, further expanding the TRON DAO community. By facilitating the integration of blockchain with traditional finance, stUSDT aims to drive the next phase of growth in the blockchain sector.
About stUSDT
The stUSDT.io platform is the first RWA platform on the TRON network, offering a secure and fair channel for every blockchain user to interact with real-world assets through decentralized smart contracts. Its mission is to create a decentralized RWA investment and management framework, bringing real-world assets into the TRON ecosystem.
The platform token of stUSDT.io, stUSDT, is a decentralized token that serves as proof of investment in real-world assets, enabling its holders to earn passive income.
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