Yield & Peg Management
Fully backed by Tokenized Real World Assets
USDV is built upon tokenized Real World Assets (Tokenized RWA), which are 100% backed by cash and yield bearing, highly liquid, risk-free financial instruments (i.e repos, short term T-bills).
Only whitelisted tokenized assets are permitted to be underlying assets of USDV. All tokenized assets are stored in a Vault on Ethereum.
STBT (Short-term Treasury Bill Token) is the first reserve asset underlying USDV.
STBT (Short-term Treasury Bill Token)
Exclusively designed for accredited investors, STBT follows ERC-1400 standards, allowing holders to tap into risk-free US T-bill yields. Yield is rebased to holders' STBT balances on a daily basis.
STBT is pegged 1:1 to USD, fully backed by the US dollar and US Treasury securities with maturities within 6 months and reverse repurchase agreements.
STBT is issued by Matrixdock, a digital asset platform that provides access to Real World Assets (RWA) through tokenization, a brand fully owned by Matrixport.
Website: https://stbt.matrixdock.com/
Proof of Reserve: https://data.chain.link/ethereum/mainnet/reserves/stbt-
FAQ: https://matrixdock.gitbook.io/matrixdock-docs/v/english/
Underlying Tokenized RWA is always pegged 1:1 to US Dollar
For underlying Tokenized RWA (here, STBT) to maintain 1:1 peg with US Dollar, its total supply is adjusted to the Net Asset Value (NAV) of the underlying portfolio on a daily basis. Yield is then rebased, excluding any negative interest days.
(Rebase is where supply is algorithmically adjusted to peg the price. In our case, this is the minting of new tokens to ensure constant 1:1 peg to US Dollar)
USDV's Vault holding all the tokenized RWA will also receive the rebase yield.
Fair, transparent and equitable yield distribution
Countless CeFi, DeFi and businesses across geographies, blockchains and domains will contribute to USDV circulation and its growth.
Logically, players contributing to a greater share of USDV circulation should be eligible to a larger share of the underlying yields.
Given the unpredictable and permissionless nature of stablecoin flow, the difficult question is how can we attribute USDV circulation precisely to each contributor to enable fair yield distribution?
This is enabled by ColorTrace, a novel token coloring algorithm developed by LayerZero Labs, and a core feature supporting the USDV architecture.
Last updated
