RWA protocol stUSDT initiates exit, redemptions open through May next year

TechFlow reports that on November 15, according to Cointelegraph, the Real World Assets (RWA) protocol stUSDT has initiated an orderly exit, ceasing interest-bearing rewards and opening redemptions for holders.

Holders of stUSDT and wstUSDT can redeem via the official portal until May 14, 2027. Applications submitted after the deadline will be processed monthly by customer service until August 2027. The team confirmed that the underlying assets remain fully backed, but did not disclose the reason for the exit.

The protocol launched on Tron in July 2023, allowing users to deposit USDT and earn returns from Real World Asset investments before expanding to Ethereum. According to DefiLlama data, its Total Value Locked peaked at approximately $2.3 billion in November 2023 and currently stands at around $8.6 million.