Real-World Asset Protocol stUSDT Shuts Down
Platform that reached $2.3 billion in locked value opens redemption window for investors
The real-world asset protocol stUSDT has begun shutting down its operations. The team in charge stopped yield generation last Saturday and set a six-month window for asset redemptions.
The platform allowed users to deposit the USDT stablecoin to earn returns based on investments like short-term government bonds. The project operated on the Tron and Ethereum networks since July 2023.
The total value locked in the protocol peaked at $2.3 billion in November 2023. Currently, that amount has dropped to approximately $8.6 million according to market data.
Holders of stUSDT and wstUSDT tokens have until May 14, 2027, to redeem their assets through the official portal. Requests made after that date will be processed by customer support in monthly batches until August 2027.
The protocol team guarantees that all underlying assets remain fully backed. Investors holding tokens on exchanges or decentralized platforms must transfer their funds to personal wallets before requesting a withdrawal.
The closure of real-world asset protocols may increase investor caution regarding the liquidity of DeFi yield products and impact confidence in the tokenized asset ecosystem.
Spotted an error? Write to suporte@criptoico.com.br.
