(Press release – Geneva, Switzerland, July 4, 2023)
Today, the TRON ecosystem welcomes its first Real World Asset (RWA) product, stUSDTwhich operates through a decentralized platform JustLend. Founder and member of Tron Hobby global advisory board, Justin Sun, he believes stUSDT will evolve into a crypto-version of Alipay’s Yu’e Bao, one of Alibaba’s money market fund products. Sun is convinced that it will serve as a bridge between traditional markets and blockchain ecosystems while empowering crypto users with more choices. From July 10 to August 10, 2023, the stUSDT platform is set to launch a welcome campaign offering APY up to 10% (expected to be around 5%) to boost users’ first experience with RWAs on TRON. Users can also enjoy discounts on redemption fees for stUSDT from July 3rd to August 10th. Please refer to the mode For daily updates on RWA fund allocation and re-establishment.
With a vast global user base and a stable coin market cap of $50 billion, stUSDT, one of RWA’s TRON-based products, generated significant industry excitement upon its launch. It is set to serve as a cornerstone for TRON’s RWA endeavors and towards building a financial portal that aims to empower 8 billion people worldwide.
TRON’s RWA product unlocks new opportunities
Today, RWA is a popular concept in the crypto industry. The stUSDT platform is dedicated to bridging the gap between retail and institutional investors while connecting the crypto world to the real world. stUSDT guarantees a level playing field for all to invest in RWAs. This is the first endeavor in the TRON ecosystem to tokenize RWAs and present them to the community.
stUSDT, the TRON ecosystem’s answer to stETH in the Lido protocol, is a decentralized token that acts as proof of investment in RWAs and holders of which can earn passive income from real assets. stUSDT offers more decentralized and robust asset management mechanisms. The ultimate goal of stUSDT is to improve the return opportunities for users on the chain of real assets. stUSDT was launched by the RWA DAO by JustLend DAO under a custody agreement between the two parties. JustLend DAO boasts the highest TVL on TRON and ranks among the top DeFi projects. In addition, TRON hosts the largest supply of USDT in circulation (over $46 billion) and the second TVL after Ethereum, which will also drive the organic growth of stUSDT. The stUSDT team is confident of seeing an influx of new users and a broader expansion of the TRON ecosystem in general.
Create a Web3 Counterpart of Yu’e Bao
Existing market participants constantly devote time and effort to staying ahead of the curve regarding any technical developments or new products in the crypto space, and the massive scale of market expansion over the past few years speaks volumes. The start of liquidity mining during the “DeFi summer” of 2020 made the decentralized lending market boom. At the time, in the world of stablecoins pegged to the US dollar, a deposit rate of 10% was not surprising. When real-world interest rates were low, liquidity gravitated towards the on-chain DeFi lending markets.
However, with a shift in market trends, some de facto assets have now regained a much stronger position. For example, the US federal funds rate has increased by over 5%, making the dollar a sought-after risk-free asset. Against this recent macroeconomic backdrop, the DeFi sector has its eyes set on RWAs in a bid to venture into new markets. In traditional finance, Yu’e Bao, Alipay’s money market fund product, has become an easy-to-use investment tool. TRON-based stUSDT is positioned as Yu’e Bao of Web3, whose debut reveals a new chapter for the TRON ecosystem to replicate Alipay’s success story. Just as Alipay opened the market with its payment services before expanding its user base with Yu’e Bao, TRON has cemented its leading position in the worldwide Web3 on-chain payment infrastructure ahead of ecosystem projects to new heights with the launch of stUSDT.
Similar to Alipay’s Yu’e Bao, stUSDT allows users to interact with passive income and withdraw their assets at any time while enjoying the transparency, security, and immutability offered by blockchain technology. stUSDT provides a wide range of opportunities for users by linking on-chain assets with real-world assets. Backed by the powerful TRON ecosystem, the platform adheres to a user-centric approach and serves as a dynamic bridge between traditional finance and the blockchain. It is poised to attract a new mass 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 industry.
About stUSDT
The stUSDT.io platform is the first RWA platform on the TRON network, providing a secure and fair channel for every blockchain user to interact with real-world assets through decentralized smart contracts. Its goal is to create an RWA decentralized investment and management mechanism, bringing real-world assets into the TRON ecosystem.
The stUSDT.io platform token, stUSDT, is a decentralized token that acts as proof of investment in real assets, enabling holders to earn passive income.
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