What is USST? The Universal Stablecoin Backed by Treasuries & RWAs

STBL

— 2 min read
What is USST? The Universal Stablecoin Backed by Treasuries & RWAs

At a Glance:

  • $STBL captures protocol fees, providing direct value back to token holders as adoption grows.
  • Governance is community-driven — holders decide collateral, fees, and protocol evolution.
  • Multi-Factor Staking (MFS) boosts rewards, incentivizing deeper ecosystem participation.
  • $STBL aligns incentives to real protocol activity, making it a core asset of Stablecoin 2.0.

Stablecoins have become a backbone of crypto. But here’s the problem: in most models, value flows to institutions and not to the community that actually drives adoption.

USST is different.

Built on the STBL protocol, USST is designed as a public utility, a universal stablecoin backed by tokenized treasuries and real-world assets (RWAs). The key innovation? USST separates principal and yield. That means you keep your stable value, while the yield is captured separately through the YLD NFT, and protocol fees flow back to the community via $STBL governance.

This is what makes USST a true Stablecoin 2.0: transparent, community-owned, and designed for scale.

Why USST is Different?

Stablecoins have become a backbone of crypto. But here’s the problem: in most models, value flows to institutions and not to the community that actually drives adoption.

  • RWA-backed: Each USST is pegged to the dollar and backed by onchain treasuries and money market funds (e.g., Ondo USDY, OUSG, BlackRock BUIDL).
  • Yield separation: When you mint USST, you also receive a YLD token — your share of the yield. Unlike USDC or USDT (where issuers keep the yield), here value flows back to you and the community.
  • Transparent fees: Protocol fees accrue directly to $STBL, powering buybacks and strengthening governance.

How to Mint USST?

  1. Connect your wallet at dapp.stbl.com.
  2. Choose an onchain treasury token (e.g., Ondo USDY) as collateral.
  3. Enter the amount of USST you want to mint (adjusted for a 10 bps haircut).
  4. Confirm the transaction → receive USST + YLD instantly.
  5. Track your portfolio anytime via the STBL dashboard.

    How to Redeem USST?

    1. Select the YLD tied to your USST.
    2. Burn the pair (USST + YLD).
    3. Retrieve your original collateral (minus burn fees).

      Why This Matters?

      1. For users: A safer, more transparent stablecoin where you keep your yield.
      2. For ecosystems: Any protocol can mint their own branded stable using USST as collateral.
      3. For the community: Fees are recycled back into $STBL, not captured by private issuers.

        The Bigger Picture?

        USST isn’t just another stablecoin. It’s part of a new wave of products that make stablecoins a public good. With a minting commitment of more than $100M in the next few weeks, and integrations coming across perps and DEXs, adoption is accelerating fast.

        As MFS (Multi-Factor Staking) and PB (Protocol Buybacks) roll out in the next months, USST will anchor a stablecoin ecosystem where everyone shares in the value created.

        Ready to try Stablecoin 2.0?

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