Saturn
Ethereum Chain
Stablecoin Wrapper
TVL by Chain
| Asset | Quantity |
|---|---|
| Ethereum | $137.97M |
Protocol Information
Saturn is a dual-token Bitcoin-backed credit protocol where USDat is a stablecoin backed by tokenized treasuries and sUSDat is a yield-bearing version backed by digital credit exposure.
Methodology
USDat backing (the PYUSDx reserve, legacy $M, and USDC held by the USDat contract) plus the STRC digital-credit backing of sUSDat, priced via DefiLlama's tradfi STRC feed (NASDAQ: STRC).
Funding Rounds
A history of funding rounds and capital raised by the protocol, including participating investors and funding details.
Date
13 Aug 2026
$M
Strategic
Saturn is a dual-token Bitcoin-backed credit protocol where USDat is a stablecoin backed by tokenized treasuries and sUSDat is a yield-bearing version backed by digital credit exposure
Lead Investors
Ondo Finance
Date
15 Jan 2026
$0.8M
Funding Round
Saturn Labs is developing a yield-bearing stablecoin backed by MicroStrategy’s STRC, a Bitcoin-linked credit instrument. The protocol combines stablecoins and real-world assets in a transparent reserve model to generate on-chain yield using institutional-grade collateral
Other Investors
YZi Labs
Sora Ventures
Date
07 May 2026
$2M
Seed
A stablecoin protocol built around Strategy’s STRC, offering Bitcoin-linked yield through a two-token system: USDat, a non-yielding stablecoin backed by tokenized U.S. Treasuries, and sUSDat, an ERC-4626 vault that accrues STRC dividend yield. The protocol supports DeFi integrations such as Pendle for separating principal and yield exposure
Lead Investors
The Spartan Group
Other Investors
Anchorage Digital
Susquehanna
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