Price change (24h):
0.99%
High (24h):
$1.1
Low (24h):
$1.082
Volume (24h):
$7.43M
Market Cap:
$23.61K
All Time High:
88.29% $9.29
Nov 13, 2024
All Time Low:
20% $0.90
Jan 24, 2025
0.86 %(1Y)
$1.088
Price change (24h):
0.99%
High (24h):
$1.1
Low (24h):
$1.082
Volume (24h):
$7.43M
Market Cap:
$23.61K
All Time High:
88.29% $9.29
Nov 13, 2024
All Time Low:
20% $0.90
Jan 24, 2025
wstUSDT (wrapped stUSDT) is a cryptocurrency launched in 2023. It operates as a non-rebasing wrapper for stUSDT across both the Tron and Ethereum ecosystems.
The token resolves a fundamental accounting friction in liquid staking derivatives: the constant rebasing of the underlying balance. stUSDT, like many staking tokens, increases its balance with each reward distribution, making it awkward for DeFi protocols that expect static supplies. wstUSDT immobilizes the unit count and instead encodes the yield accrual into a dynamic exchange rate. That shift is subtle but profound.
The token operates on the TRON network as a TRC-20 token, with a parallel deployment on Ethereum as an ERC-20 contract. Immutable smart contracts encode the wrapper logic, maintaining a dynamic exchange rate between wstUSDT and the stUSDT backing. This dual-chain presence extends the non-rebasing utility to both major smart contract ecosystems.
The wrapper employs standard TRC-20 and ERC-20 interfaces, ensuring broad compatibility with decentralized exchanges, lending markets, and yield aggregators. Unlike the rebasing stUSDT, wstUSDT’s supply remains fixed once minted; the exchange rate to stUSDT increments to reflect accrued staking rewards. The token itself requires no separate validator set or consensus mechanism—it functions as a pure smart contract overlay atop existing chains.
The stUSDT protocol emerged in 2023 without publicly identified founders, coalescing around the demand for staked Tether yields on TRON. The wrapped variant launched on June 29, 2023 as a direct response to composability complaints from developers integrating the rebasing token. Within weeks, liquidity pools pairing wstUSDT with USDT appeared on SunSwap and other TRON-based DEXs.
The broader ambition is to turn staked USDT into a universally composable asset, stripping away the accounting headaches that rebasing tokens inflict on smart contract logic. By maintaining a constant balance, wstUSDT allows DeFi protocols to treat staking exposure as a fixed-rate deposit, vastly reducing integration complexity and audit surface. That standardization is critical for the proliferation of real-world asset collateral in decentralized finance.
The token’s mechanical role is a perpetual wrapper: users deposit stUSDT and receive wstUSDT at the current exchange rate. Over time, that rate rises, so unwrapping returns more stUSDT—effectively accruing staking rewards without altering the holder’s token count. Protocols custody wstUSDT as a vanilla ERC-20 or TRC-20, oblivious to the yield mechanics, and value it transparently via on-chain oracle rate feeds.
Lenders on platforms like JustLend can deposit wstUSDT as collateral and simultaneously earn the embedded staking return plus supply interest. Liquidity providers in wstUSDT/USDT pairs capture swap fees while their wstUSDT leg silently appreciates in terms of redeemable stUSDT. Arbitrageurs monitor the exchange rate differentials to keep the wrapper aligned with the stUSDT market price.
wstUSDT has a maximum supply of 213,846,225 tokens. Currently, 21,694.13 are in circulation. With a market capitalization of $23,863.00, wstUSDT (wrapped stUSDT) ranks #3,744 among all cryptocurrencies.
| Date | Open | Close | High | Low |
|---|---|---|---|---|
| 09/07/2026 | $1.09 | $1.09 | $1.09 | $1.08 |
| 08/07/2026 | $1.10 | $1.09 | $1.10 | $1.09 |
| 07/07/2026 | $1.10 | $1.10 | $1.10 | $1.09 |
| 06/07/2026 | $1.10 | $1.10 | $1.10 | $1.10 |
| 05/07/2026 | $1.09 | $1.10 | $1.10 | $1.09 |
| 04/07/2026 | $1.10 | $1.09 | $1.10 | $1.09 |
| 03/07/2026 | $1.10 | $1.10 | $1.10 | $1.09 |
| 02/07/2026 | $1.10 | $1.10 | $1.10 | $1.09 |
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