nUSDT · delta-neutral vault on TRON
Every USDT transfer on TRON burns or rents Energy. nUSDT supplies that energy and collects the fees — $22B+ of transfers a day pay for your yield. No price bets, no perp-funding dependence. Just infrastructure doing its job.
A floating rate, recalculated from what the strategy actually earns — not a number we picked for a landing page.
The rate history starts filling in from launch. We publish only readings we have actually recorded — no backfilled curves.
The rate floats with what the strategy earns and can change on any clearing day — we promise no level. What is fixed in the contract is the speed: the share price cannot move more than 0.3% per clearing, nor 1.2% across any rolling 7 days. Losses hit the first-loss tranche before they reach depositors, and every rate we have ever set is in the chart above.
| Where USDT sits | APY | On $10,000 / year |
|---|---|---|
| nUSDT | — | — |
| Ethena sUSDe | ~4.3% | $430 |
| Aave v3 | ~2.7% | $270 |
| JustLend supply | ~2.2% | $220 |
| Exchange “Earn” | ~1–3% | $100–300 |
Compounded daily into the nUSDT share price. Withdrawal fee 0.3%; standard withdrawal settles within the 21-day SLA (typically 1–14 days — TRON unstaking is 14 days by network design, and netting against new deposits is usually faster).
A delta-neutral loop: your dollars never hold TRX price risk — the borrowed TRX we stake is exactly offset by the TRX debt.
USDT goes to JustLend, TRON’s largest money market, as collateral earning supply interest.
Against that collateral the vault borrows TRX, staying conservatively clear of the liquidation threshold — debt and asset cancel out, so TRX price moves don’t touch your dollars.
Borrowed TRX is staked (Stake 2.0) and its Energy is delegated to rental marketplaces that sell it to wallets, exchanges and payment processors.
Energy rent + SR voting rewards + supply interest, minus borrow cost = your yield, accrued into the share price at daily clearings.
Everything important is either on-chain and public, or capped in code.
Collateral, debt, stake and delegations live at public TRON addresses. Anyone can verify the fund’s NAV in TronScan at any moment — even if our website is down.
The founders’ and early backers’ own tranche absorbs any losses before a single cent of depositor value is touched. We eat the risk first — that’s the deal.
The rate follows what the strategy actually earns and can change on any clearing day. We publish no promised level — instead every reading we have ever set is on-chain, so the track record is something you audit rather than something we advertise.
The share price can move at most 0.3% per clearing and 1.2% over any rolling 7 days, and hot keys can move funds only along whitelisted paths.
Every deposit passes AML screening and is accepted only with a signed permission. Dirty direct transfers are quarantined by design — they never mix with the fund.
Withdrawals settle within a published 21-day SLA because TRON’s unstaking takes 14 days — physics of the chain, not our discretion. Most exits net against new deposits and settle in days.