According to Blockworks, on July 3, 2023, the TRON ecosystem introduced its first Real-World Asset (RWA) product, stUSDT, operated by the decentralized financial platform JustLend DAO. The stUSDT platform aims to bridge the gap between retail and institutional investors while connecting the crypto realm with the real world, ensuring equal opportunities for all to invest in RWAs.
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, with special rules potentially applying. Staking rewards are distributed in the form of stUSDT through a daily rebase. A wrapped version of stUSDT, known as wstUSDT, is also available.
Since its launch, stUSDT has made a significant impact on the market, with its Total Value Locked (TVL) surpassing $22 million within the first 24 hours. The TVL has continued to rise, reaching $2.29 billion by the end of the year and boasting over 350,600 stakers. The platform has introduced several key features, including support for the Ethereum network, TUSD staking, and a gauge for the stUSDT/crvUSD pool. stUSDT is committed to keeping pace with market trends and user needs, enhancing its platform capabilities, and seeking new investment opportunities to improve the user experience.
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