stUSDT

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

stUSDT's governance or utility token carries a market capitalisation of $62M based on circulating supply at the latest DeFiLlama snapshot. Token market cap ($62M) and TVL ($62.6M) trade close together, giving a mcap/TVL multiple of 0.99× — broadly the range market participants treat as "fair" for an established DeFi protocol.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.

1. Jul 4, 2023
   Listed on DeFiLlama

stUSDT operates in the RWA category of DeFi. It is deployed across 2 chains, including Tron, Ethereum. No public audit reports are listed on DeFiLlama for this protocol.

stUSDT operates on 2 networks (Tron, Ethereum), keeping its surface area narrower than chain-agnostic peers. Its TVL is heavily concentrated on Tron, which holds 97% of all assets — other deployments are comparatively small. Price discovery relies on 2 oracle providers (WINkLink, Chainlink), which diversifies the data-feed surface but also expands the set of third parties users implicitly trust. No public audit reports are linked from DeFiLlama for this protocol despite a non-trivial TVL — treat any deposit as carrying material smart-contract risk. Token market cap ($62M) and TVL ($62.6M) trade at a ratio of 0.99, in the range generally considered normal for an established DeFi protocol.

Verified external resources for stUSDT — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

stUSDT is one of 7 RWA protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Tether Gold, BlackRock BUIDL, Paxos Gold, and 3 more. These peer protocols collectively secure $14.3B in deposits, giving you a frame of reference for whether stUSDT's own TVL is at the top, middle, or tail of the category.

Tether Gold

TVL $3.6B · 24h -0.43%

BlackRock BUIDL

TVL $2.5B · 24h +0.43%

Paxos Gold

TVL $2.5B · 24h -0.60%

Circle USYC

TVL $2.4B · 24h +4.42%

Ondo Yield Assets

TVL $2B · 24h -0.67%

Centrifuge Protocol

TVL $1.3B · 24h +4.07%