News · RWA & Tokenization
The yield-bearing protocol ended interest accrual on Saturday, opening a redemption window through May 14, 2027, as total value locked collapsed 99%.
Key point 1 of 3
01
stUSDT ceased interest accrual on Saturday and opened redemptions for stUSDT and wstUSDT through May 14, 2027.
Key point 2 of 3
02
The protocol's total value locked dropped from a November 2023 peak of $2.3 billion to $8.6 million on Sunday.
Key point 3 of 3
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JustLend DAO is winding down lending and borrowing support for wstUSDT as tokenholders move to redeem.
Context
stUSDT launched in July 2023 to bring real-world yields from government bonds to Tron and Ethereum, reaching a $2.3 billion peak in November 2023 despite Tether explicitly denying…
Why it matters
Holders of stUSDT and wstUSDT must transfer assets to personal wallets to redeem collateral, while JustLend DAO loses liquidity as it phases out wstUSDT borrowing and lending…
What to watch
The conclusion of the primary online redemption window on May 14, 2027, followed by the final customer support batch processing deadline in August 2027.
Sources
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