Staked USDT
Crypto Overview
Overview
Staked USDT (STUSDT) represents staked Tether (USDT) tokens in lending protocols. The token is created when users deposit USDT into lending platforms to earn yield through lending activities.
Purpose and Utility
The primary purpose of STUSDT is to serve as a receipt token for USDT that has been deposited into lending protocols. Users receive STUSDT in exchange for their USDT deposits, which they can later redeem for their original USDT plus any accrued yield from lending activities.
Business Model
The business model is fundamentally based on lending and borrowing activities, where depositors earn returns from lending their USDT to borrowers. The yield is generated through interest payments from borrowers, which is distributed to STUSDT holders.
Platform Activity and Adoption
STUSDT exists within the broader DeFi lending ecosystem. The token's utility is directly tied to lending activities, which represents its primary and actual use case.
Token Distribution and Governance
STUSDT tokens are minted when users deposit USDT and burned when they withdraw, maintaining a 1:1 relationship with deposited USDT plus accrued lending yields.
Crypto Impact
To assign a comfort level investing in Staked USDT from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Staked USDT.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.