StakeStone officially announced the introduction of the USD1 Vault, a decentralized finance product created in partnership with CIAN Protocol and supported by World Liberty Finance (WLFI). The vault will allow access to fixed on-chain yield via the USD1 stablecoin. $1 is 1:1 backed with U.S. Treasuries custodied by BitGo and has transacted more than $2.1 billion in issuances across leading exchanges such as Binance, Bitget, and HTX.
The USD1 vault is expected to help address the increased demand of cross-chain liquidity distribution. StakeStone integrates with over 20 blockchains, controlling the liquidity of the vault and letting users to operate with different chains via a single interface.
The strategy automation is powered by CIAN and optimizes the yield of several different DeFi protocols. WLFI offers the USD1 stablecoin, which are created to ensure reliability due to credible assets backing and compliance.
Yield with APY and Utility Orientation
The vault will offer deposits in USD1, USDT and USDC on the BNB chain. Customers will be able to store their funds via a user-friendly interface, and then scUSD1 tokens will be minted. Such tokens indicate the staked position and can be deposited directly into the user wallet.
The vault gives another 6% yield in USD1 that is automatically allocated by the rebalancing mechanism of StakeStone. The deposited funds are invested in the optimized strategies chosen by the CIAN protocol, which assists in maximizing the yield on market conditions and by protocol risk assessment.
Organized Withdrawal System and Controlled Access
Withdrawals are done through a request system. Users also enter the number of scUSD1 they would like to redeem and send a request. An address is permitted to have only one active withdrawal request. Nevertheless, users are able to make several requests simultaneously, by dividing scUSD1 among multiple addresses.
The CIAN team processes withdrawal requests based on a five-day cycle. After this, the USD1 stablecoin automatically arrives to the wallets of the user, which has a fixed and transparent withdraw model.
