Geneva, Switzerland, July 4, 2023, Chainwire
Today, the TRON ecosystem welcomes its first Real World Asset (RWA) product, stUSDT, which works through the decentralized platform JustLend. TRON founder and member of Huobi’s global advisory board, Justin Sun, has expressed its belief that stUSDT will evolve into the crypto version of Alipay’s Yu’e Bao, a money market fund product offered by Alibaba. Sun is confident it will serve as a bridge connecting traditional markets to blockchain ecosystems while giving crypto users more options. From July 10 to August 10, 2023, the stUSDT platform will launch a welcome campaign with an increased APY of up to 10% (normally about 5%) to improve users’ first experience with RWAs on TRON. Users can also enjoy stUSDT redemption fee discounts from July 3 to August 10. Check Medium for daily updates on the RWA fund allocation and rebases.
With a huge global user base and stablecoin market cap of $50 billion, stUSDT, a TRON-based RWA product, has created a lot of excitement in the industry upon its release. It is poised to serve as the cornerstone for TRON’s RWA efforts and build a financial gateway that aims to empower 8 billion people worldwide.
TRON’s RWA product unleashes new opportunities
Today, RWA is a popular concept in the crypto industry. The stUSDT platform aims to narrow the gap between retail and institutional investors while connecting the crypto realm to the real world. stUSDT ensures equal opportunity for everyone to invest in RWAs. This is the first attempt in the TRON ecosystem to tokenize RWAs and propose them to the community.
stUSDT, the TRON ecosystem’s answer to stETH on the Lido protocol, is a decentralized token that serves as proof of investment in RWAs and its holders can earn passive income from real world assets. stUSDT introduces more decentralized and robust wealth management mechanisms. The ultimate goal of stUSDT is to optimize return options for on-chain users of real-world assets. stUSDT was launched by RWA DAO and is operated by JustLend DAO under the custody agreement between the two parties. JustLend DAO has the highest TVL on TRON and is among the top DeFi projects. In addition, TRON hosts the largest USDT circulating supply (over $46 billion) and a TVL second only to Ethereum, which will also drive stUSDT’s organic growth. The stUSDT team is confident to see an influx of new users and a broader expansion of the TRON ecosystem as a whole.
Create Yu’e Bao’s Web3 counterpart and combine the physical world with Web3
Current market participants consistently devote time and effort to stay ahead of the curve with regard to new technology or product developments in the cryptosphere, and the sheer magnitude of market expansion in recent years speaks volumes. The start of liquidity mining during the “DeFi Summer” of 2020 has led to a thriving decentralized credit market. At the time, in terms of USD-pegged stablecoins, a 10% deposit rate was hardly a surprise. When real interest rates were low, liquidity moved into on-chain DeFi lending markets.
However, due to a shift in market trends, some real world assets have now regained a much stronger position. For example, the US Fed Funds Rate has risen above 5%, making the dollar a sought-after risk-free asset. Under this latest macroeconomic backdrop, the DeFi sector has turned its eyes to RWAs in an attempt to enter new markets. In the traditional financial world, Yu’e Bao, Alipay’s money market fund product, has become a convenient investment tool. The TRON-based stUSDT is being positioned as Web3’s Yu’e Bao, whose debut reveals a new chapter for the TRON ecosystem to potentially replicate the Alipay success story. Just as Alipay broke open the market with its payment services before expanding its user base with Yu’e Bao, TRON has solidified its leading position in Web3 on-chain payment infrastructure around the world before the ecosystem takes off to new heights via the launch of stUSDT .
Like Alipay’s Yu’e Bao, stUSDT allows users to earn passive income and withdraw their assets at any time, while enjoying the transparency, security, and immutability of blockchain technology. stUSDT offers a wide range of possibilities for users by connecting on-chain assets with real-world assets. Supported by TRON’s robust ecosystem, the platform commits to a user-centric approach and serves as a dynamic bridge between traditional finance and blockchain. It is poised to attract a new mass of blockchain enthusiasts, further expanding the TRON DAO community. By further facilitating the integration of blockchain with traditional finance, stUSDT aims to drive the next growth phase in the blockchain industry.
The stUSDT.io platform is the first RWA platform on the TRON network, providing a secure and equitable channel for any blockchain user to interact with real-world assets through decentralized smart contracts. The goal is to establish a decentralized RWA investment and management mechanism, bringing real-world assets into the TRON ecosystem.
stUSDT.io’s platform token, stUSDT, is a decentralized token that serves as proof of investment in real world assets, allowing its holders to earn passive income.