Dear users,
JustLend DAO has added wstUSDT as a collateralizable asset on Aug 19th, 2023 (SGT), users will be able to supply and borrow wstUSDT from that point forward. For more details, please refer to Add wstUSDT Market.
wstUSDT (wrapped stUSDT) is a wrapped, non-rebasing version of stUSDT on TRON network. The wrapping process allows stUSDT holders to trade or utilize their stUSDT in the TRON ecosystem, enhancing liquidity and flexibility.
Unlike the stUSDT balance, which increases as you receive staking rewards, the wstUSDT balance stays the same while the stUSDT balance updates inside the wrapper. However, the exchange rate between wstUSDT and stUSDT will be adjusted accordingly.
wstUSDT is applicable across DeFi protocols that are based on stable-balance tokens, such as lend & borrow and DEXs. With wstUSDT, users can maintain control over their stUSDT while enjoying the advantages of a token that can be freely traded and utilized across various platforms.
- wstUSDT Market Parameters:
The collateral factor of wstUSDT is set at 75%, and its reserve factor is set at 5%.
The wstUSDT market uses a similar interest rate model to USDT. Its supply and borrow APYs at different utilization rates are as follows:
| Utilization rate | Borrow Base APY | Supply Base APY |
| 0% | 0.00% | 0.00% |
| 10% | 0.63% | 0.06% |
| 20% | 1.25% | 0.24% |
| 30% | 1.88% | 0.53% |
| 40% | 2.50% | 0.95% |
| 50% | 3.13% | 1.48% |
| 60% | 3.75% | 2.14% |
| 70% | 4.38% | 2.91% |
| 80% | 5.00% | 3.80% |
| 90% | 15.90% | 13.59% |
| 100% | 26.80% | 25.46% |
We believe that adding support for the wstUSDT market facilitates the growth of JustLend DAO and further improves its ecosystem.
Thank you for your support
JustLend DAO
Aug 19, 2023 (Singapore time)