Saturn
AuditedSaturn is a dual-token RWA stablecoin protocol on Ethereum, issuing USDat (a permissioned synthetic dollar backed by M0 tokenized T-bills) and sUSDat (an ERC-4626 yield vault earning ~11% APY via STRC preferred equity dividends), with a dynamic LTV reserve model that automatically shifts collateral allocation from STRC toward T-bills as Bitcoin/credit risk rises.
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The Problem
T-bill yield stablecoins (~4-5% APY) do not capture the higher returns available from digital-asset-adjacent preferred equity (STRC: ~11.5%). Existing preferred equity exposure in DeFi lacks risk management and stable-dollar utility.
The Solution
Saturn routes USDat stakers into STRC preferred equity exposure via a dynamic LTV-managed reserve, capturing ~11.5% annual dividend yield in sUSDat while maintaining a T-bill backstop for stability. Monthly dividends vest linearly on-chain, eliminating lumpy cash flows.
Why it Matters
Dynamic LTV-triggered reserve reallocation automatically deleverages from STRC to T-bills as Bitcoin/STRC collateral risk rises — a risk-managed preferred-equity yield mechanism not available in existing T-bill stablecoin designs. Built on top of regulated M0 infrastructure with institutional custody.
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DeFi Yield Guide, October 2026: Rated Positions
The standing answer to where DeFi yield is worth taking. Every position on the board carries a Safety Score, the mechanism that produces the yield, and the specific thing that would break it. Reviewed and revised every month; previous editions are archived.
September 2026: A DeFi Yield Guide
The DeFi Sentinel yield guide as it stood this month: every position on the board with its Safety Score, the mechanism that produces the yield, and the specific thing that would break it. Figures are frozen at publication.
Frequently asked questions about Saturn
What is Saturn?+
Saturn is a RWA protocol operating on Ethereum. Saturn is a dual-token RWA stablecoin protocol on Ethereum, issuing USDat (a permissioned synthetic dollar backed by M0 tokenized T-bills) and sUSDat (an ERC-4626 yield vault earning ~11% APY via STRC preferred equity dividends), with a dynamic LTV reserve model that automatically shifts collateral allocation from STRC toward T-bills as Bitcoin/credit risk rises.
How does Saturn work?+
Saturn routes USDat stakers into STRC preferred equity exposure via a dynamic LTV-managed reserve, capturing ~11.5% annual dividend yield in sUSDat while maintaining a T-bill backstop for stability. Monthly dividends vest linearly on-chain, eliminating lumpy cash flows.
Is Saturn safe?+
DeFi Sentinel rates Saturn C with a safety score of 52/100, indicating rated risk. The score reflects five risk dimensions: smart contract & technical risk, economic design & market risk, governance & centralization, sustainability & competitive position, and reputation & social trust. Saturn has 2 audits on record. DeFi Sentinel's analysis flagged 8 high, 4 medium, 2 low risk alerts across Smart Contract & Technical Risk, Economic Design & Market Risk, Governance & Centralization, Sustainability & Competitive Position and Reputation & Social Trust. As with all DeFi protocols, residual risk remains and users should review the full risk breakdown before depositing.
What is the safety score of Saturn?+
Saturn has a DeFi Sentinel safety score of 52/100 (rating C), last updated September 17, 2026. The score is computed across smart contract & technical risk (30%), economic design & market risk (25%), governance & centralization (20%), sustainability & competitive position (15%), and reputation & social trust (10%).
Which chains does Saturn support?+
Saturn is deployed on Ethereum.
Has Saturn been audited?+
Yes. Saturn has 2 audit reports on record from firms including Three Sigma, Certora. Audit reports and dates are linked under the Resources tab on this page.