Solidus/Instruments/sUST
sUST · SOLIDUSSovereign debtFirst to mint

Short US Treasury.

A token backed one-to-one by rolling 1 to 3 month US government bills. The shortest, hardest end of the curve, marked to reality every day.

Follow for the mint All instruments
Asset class
Sovereign debt
Term
1–3 mo
Target yield
4.8–5.1%
Backing
1:1

What backs sUST.

Every sUST token is a claim on short-dated US Treasury bills held in custody. Nothing is lent out, rehypothecated, or levered. The token moves with the bills, and the bills are the whole story.

Underlying
US Treasury bills, 1 to 3 month maturities, rolled as they mature. Direct sovereign obligations, the deepest and most liquid debt market in the world.
Held as
Bills held through a qualified custodian in a segregated account. Positions are ring-fenced from Solidus operating assets.
Marked to
The live Treasury curve. sUST is priced to the real market value of the underlying bills, not to a fixed peg it has to defend.
Yield source
The bills themselves. Return is the actual coupon and roll of short-dated sovereign debt, not emissions, incentives, or token inflation.
Redemption
A claim on the underlying. Holders can exit against the real position once redemption opens, without asking permission.
How it is structured

From real asset to a claim you can trace.

01 · Anchor

Bills go into custody

Short-dated Treasuries are purchased and held in a segregated account with a qualified custodian. The position is the backing.

02 · Mark

The position is attested

Holdings are attested daily and published on-chain, so the backing behind every sUST token can be checked against the real position.

03 · Hold

You hold a real claim

Each token is a one-to-one claim on the bills. It is marked to the live curve and resolves to the underlying, not to a promise.

What to know

Risk, plainly stated.

sUST is a claim on Treasury bills, not a deposit

  • Yield tracks short-dated Treasury rates. When bill rates fall, the target falls with them. The range shown is indicative of the underlying, not a fixed or guaranteed return.
  • Price moves with the short end of the curve. sUST is marked to real value, so it is not a fixed 1.00 peg.
  • Redemption depends on the liquidity of the underlying bills and on custody and attestation onboarding being complete for this instrument.
  • sUST is a claim on assets in custody. It is not a bank deposit and is not insured as one.
sUST is in build and not yet minted. Terms are indicative of the underlying asset class and subject to change before the instrument goes live. Nothing here is an offer to sell or a solicitation to buy any security. Follow @solidusfi for the mint, attestation reports, and full terms.
The rest of the standard

Other instruments.

sGOLD

Allocated Gold

Serialized bullion in a named vault.

sPRIME

Prime Real Estate Income

Income property, deed and rent roll.

sCRED

Senior Secured Credit

Senior lending against real collateral.

Marked to reality.

Follow Solidus for sUST attestation and the assets going on-chain.

Follow @solidusfi