A rebasing token pegged 1:1 to the US dollar and backed by short-term US Treasury bills. STBT distributes daily interest payments in the form of additional STBT tokens to holders. STBT can be wrapped into a non-rebasing version, wSTBT, whose value appreciates as the yield on STBT increases.
Transferability and Requirements
Only whitelisted individuals and entities that have passed KYC and Accredited Investor checks can mint/hold/transfer/redeem STBT.
Primary mint and redemption of STBT directly with Matrixdock can be executed via the Matrixdock webapp, Matrixport app, or via OTC methods.
Secondary swaps of STBT is enabled through the STBT pool on Curve, only whitelisted wallets are able to execute swaps.
Bankruptcy Remoteness
The STBT project offers 100% bankruptcy remoteness, providing investors with an even more secure and trustworthy investment option. This milestone was achieved by establishing a purpose trust that legally owns the STBT issuer and ensures a bankruptcy-remote structure.
The purpose trust will take ownership as the STBT asset account holder, and is exclusively dedicated to holding the STBT issuer shares. By incorporating a purpose trust using this unique legal structure, the STBT project effectively mitigates counterparty risk related to the Matrixport Group, and significantly bolsters the security of the STBT project.
Transparency
Account-holders are able to view all historical transaction records relating to the minting, burning, and rebase of STBT at at any time. In addition, we may also upload certain Underlying Assets reporting documents for review on the Matrixdock Platform which can be viewed through its hash.
Defi Yields
With the growth of DeFi comes an increasing demand for new collateral types that extend beyond native on-chain assets, including cross-chain tokens, fiat-backed stablecoins, tokenised real-world assets, and more. STBT token holders can unlock the token’s full potential by providing liquidity to the pool, and earn liquidity provider (LP) rewards.
Investors can either issue and redeem STBT through Matrixdock, or trade STBT directly via STBT/3CRV pool, a stablecoin liquidity pool on Curve Finance. The pool consists of STBT, USDC, USDT, and DAI. Swapping STBT with supported stablecoins is available via your whitelisted addresses at any point in time. Additionally, the liquidity provider (LP) rewards can be earned by depositing stablecoins into the pool. Liquidity providers can choose to withdraw one or more stablecoins at any time.
Liquidity Support
Investors can either issue and redeem STBT through Matrixdock, or Matrixdock has incorporated CRV support to allow investors to trade STBT directly via STBT/3CRV pool on Curve Finance. The interest rebase mechanism makes STBT more convenient for accredited Investors to carry out market making and arbitrage strategies.
