# sUSDat Overview

sUSDat is Saturn's yield-bearing vault token built on the ERC-4626 standard. It represents a user's share of a managed pool of digital credit exposure, where yield is generated from Saturn's STRC holdings and passed through to stakers automatically.

#### How It Works

When a user stakes USDat, they receive sUSDat shares representing their proportional ownership of the vault. Saturn uses the deposited USDat to acquire STRC, tokenized digital credit instruments that generate yield. As that yield flows into the vault, the exchange rate between sUSDat and USDat increases. Users don't need to claim or compound. Holding sUSDat is enough.

For example, a user who stakes 1,000 USDat and receives 1,000 sUSDat may later find their sUSDat redeemable for 1,050 USDat as yield accrues.

#### Yield

The target yield for sUSDat is 11%+, derived from digital credit dividends. To prevent front-running, all rewards vest linearly over 30 days. Only fully vested yield is reflected in the sUSDat exchange rate.

#### Redemption

sUSDat can be redeemed for USDat through Saturn's withdrawal queue, or traded on secondary markets for immediate liquidity. See the Staking and Unstaking page for the full process.

#### Properties

| Property           | Detail                   |
| ------------------ | ------------------------ |
| Standard           | ERC-4626 tokenized vault |
| Underlying asset   | USDat (6 decimals)       |
| sUSDat decimals    | 18                       |
| Deposit fee        | 10 bps (0.10%)           |
| Reward vesting     | 30-day linear vest       |
| Minimum withdrawal | 10 USDat                 |
| Target yield       | 11%+                     |