USDat Overview

Learn how USDat maintains its dollar peg, how reserves are held in tokenized U.S. Treasuries, and how users mint, redeem, and use the stablecoin.

USDat is Saturn's fully collateralized stablecoin, designed for liquidity and settlement. It maintains a stable 1:1 peg to the US dollar and can be minted and redeemed with USDC through the Saturn interface.

Collateral and Reserves

USDat is backed by $M, M0's tokenized US Treasuries product. At launch, reserves are 100% $M, providing maximum stability and liquidity.

Access and Compliance

USDat is a permissioned token. Only addresses that have completed Saturn's onboarding process can mint, redeem, or hold USDat. This ensures the protocol remains compliant and that all participants meet Saturn's requirements.

Yield

USDat does not accrue yield directly. The yield generated by the underlying $M reserves flows to Saturn's protocol revenue vault. Users seeking yield exposure should consider sUSDat.

Minting and Redeeming

USDat can be minted by depositing USDC or $M through the Saturn interface. Redemptions return USDC to the user's wallet. See the Minting and Redeeming pages for step-by-step instructions.