The overall product is very simple: USDT that pays you the yield.
You will be able to go to curve, swap USDT or USDC to stUSD, and then earn ~4% APY by just holding stUSD (each day, wallet balance increases). You will also be able to go to the protocol website and see up-to-date bank reserves & stUSD debt, and the protocol stays overcolateralized at all times.
We will have a focus on transparency and reducing all risks, including smart-contract, liquidity and collateralization risks.
There is no reason for centrally managed stablecoin issuers such as USDT or USDC to not share the yield on reserves with token holders, so we do just that.
We create a new stablecoin: stUSD, collateralized mostly by 3-month T-bills. 90% of the yield on reserves is paid to holders with the same mechanism Lido uses. stUSD is similar to stETH, and wstUSD similar to wstETH. (except yield comes from T-bills instead of staking rewards).
I am currently managing a prop trading firm (~1B average daily volume) that will operate a market maker and arbitrage for stUSD. We are very well positioned for such a project, as we have both the capital and lawyers+bank relationships (with the operation of our fund) to get it started.
The growth strategy is to be first to market at importing the “TradFi risk-free rate” into Defi, grow a large TVL through this position, and then grow the network effects of stUSD: usage as collateral, dexes, and lending pools.
The role will include the following: writing smart contracts, managing audits, documentation, and project website. I know good solidity devs but they cannot commit to full time, and I want someone onsite, full-time for this role.
If interested, email me [at] not_a_cat [at] fastmail dot com
Love the idea, I've been pondering how to generate inflation-linked or bond-type yields for a token or stablecoin, and thought it would require a tradfi entity/broker to basically provide a synthetic backed by bond/equity collateral. I don't have the smart contract skillset (just traditional webdev with fintech exposure) but good luck, I'd buy it.
The overall product is very simple: USDT that pays you the yield.
You will be able to go to curve, swap USDT or USDC to stUSD, and then earn ~4% APY by just holding stUSD (each day, wallet balance increases). You will also be able to go to the protocol website and see up-to-date bank reserves & stUSD debt, and the protocol stays overcolateralized at all times. We will have a focus on transparency and reducing all risks, including smart-contract, liquidity and collateralization risks.
There is no reason for centrally managed stablecoin issuers such as USDT or USDC to not share the yield on reserves with token holders, so we do just that.
We create a new stablecoin: stUSD, collateralized mostly by 3-month T-bills. 90% of the yield on reserves is paid to holders with the same mechanism Lido uses. stUSD is similar to stETH, and wstUSD similar to wstETH. (except yield comes from T-bills instead of staking rewards).
I am currently managing a prop trading firm (~1B average daily volume) that will operate a market maker and arbitrage for stUSD. We are very well positioned for such a project, as we have both the capital and lawyers+bank relationships (with the operation of our fund) to get it started.
The growth strategy is to be first to market at importing the “TradFi risk-free rate” into Defi, grow a large TVL through this position, and then grow the network effects of stUSD: usage as collateral, dexes, and lending pools.
The role will include the following: writing smart contracts, managing audits, documentation, and project website. I know good solidity devs but they cannot commit to full time, and I want someone onsite, full-time for this role.
If interested, email me [at] not_a_cat [at] fastmail dot com