RWA protocol stUSDT winds down three years after $2.3B TVL peak

The stUSDT team did not disclose a reason for winding down the RWA protocol but assured holders that all underlying assets remain fully backed.

Real-world asset (RWA) protocol stUSDT has begun winding down operations, nearly three years after reaching a $2.3 billion total value locked (TVL), ending rewards and opening a six-month redemption window for tokenholders. 

The team said that interest accrual on stUSDT ended on Saturday, with holders of stUSDT and its wrapped version, wstUSDT, able to redeem through its official portal until May 14, 2027. The team said requests submitted after the deadline will be handled through customer support in monthly batches through August 2027.

The team did not provide a reason for the shutdown but said all underlying assets remain fully backed. Holders with tokens on exchanges or DeFi platforms must transfer them to personal wallets before redeeming.

Read more