Saturn

Total Value Locked$153.92m

TVL by Chain

Ethereum$153.92m

Key Metrics

Fees 30d$1.27m

Fees 30d by chain

Ethereum$3.19m

Fees 7d$279,589

Ethereum$304,628

Fees 24h$16,662

Ethereum$16,662

Cumulative Fees$3.82m

Ethereum$45.63m

Revenue 30d$219,790

Revenue 30d by chain

Ethereum$219,790

Revenue 7d$51,960

Ethereum$51,960

Revenue 24h$5.37

Ethereum$5.37

Cumulative Revenue$1.78m

Ethereum$1.78m

Total Raised$2.8m

Jan 15, 2026$800,000Round: Investors: YZi Labs, Sora Ventures

May 7, 2026$2mRound: SeedInvestors: The Spartan Group, Anchorage Digital, Susquehanna

Aug 13, 2026Round: StrategicInvestors: Ondo Finance

Protocol Information

Saturn is a dual-token Bitcoin-backed credit protocol where USDat is a stablecoin backed by tokenized treasuries and sUSDat is a yield-bearing version backed by digital credit exposure.

Website X/Twitter

Category:Stablecoin Wrapper

Methodology

TVL: USDat backing (the PYUSDx reserve, legacy $M, and USDC held by the USDat contract) plus the STRC digital-credit backing of sUSDat, priced via DefiLlama's tradfi STRC feed (NASDAQ: STRC).Fees: Fees include sUSDat deposit fees if any, asset yields from sUSDat price appreciation and 10% performance fee on the yield generated by sUSDat Revenue: Saturn earns sUSDat deposit fees, and 10% performance fee on the yield generated by sUSDat.

Yields

Pools Tracked1

Average Supply APY12.35%

Competitors

USDCx ($66.18m)XGLD ($4.68m)USDR ($4.18m)USX.Capital ($763,607)Rotera ($1.57)

Income statement for Saturn

YearlyQuarterlyMonthlyCumulative

	Q4 2026*	Q3 2026	Q2 2026	Q1 2026
Gross Protocol Revenue	$512.98K	$14.96M	-$11.66M	$14.04K
STRC price fluctuations	$0	$0	-$5.84M	$0
Asset yields - Tbill	$162.98K	$696.58K	$718.39K	$14.04K
Asset yields - STRC	$0	$2.46M	$1.68M	$0
Performance Fees	$0	$0	$829	$0
Assets Yields	$0	$0	$7.46K	$0
Effect of STRC price fluctuations	$349.72K	$11.8M	-$8.23M	$0
Deposit/Withdraw Fees	$282.25	$12.50	$0	$0
Cost of Revenue	$371.84K	$14.13M	-$12.45M	$0
Effect of STRC price fluctuations	$349.72K	$11.8M	-$14.07M	$0
Tbill yields to stakers	$6.44K	$16.19K	$73.93K	$0
STRC rewards to stakers	$0	$2.21M	$1.5M	$0
Assets Yields	$0	$0	$7.46K	$0
Revenue share passed to sUSDat stakers	$15.68K	$92.61K	$31.83K	$0
Gross Profit	$141.14K	$833.51K	$793.21K	$14.04K
Tbill yields to protocol	$140.24K	$610.73K	$610.56K	$14.04K
Performance fee on Tbill Yields	$643	$1.62K	$8.04K	$0
Performance fee on STRC rewards	$0	$221.15K	$173.78K	$0
Performance Fees	$0	$0	$829	$0
Deposit/Withdraw Fees	$252.33	$11.45	$0	$0
Earnings	$141.14K	$833.51K	$793.21K	$14.04K

Income flow visualization

YearlyQuarterlyMonthlyCumulative

Frequently asked questions

What is Saturn's TVL?

Saturn currently has $153.92m in total value locked. TVL has increased 11.2% over the past 30 days.

What chains does Saturn operate on?

Saturn operates on Ethereum. Ethereum holds the largest share at 100%.

How much has Saturn generated in fees and revenue?

Over the past 30 days, Saturn generated $1.27m in fees. Of that, $219,790 was protocol revenue. Based on the trailing year, the annualized rate is $6.78m in fees and $3.17m in revenue.

How does Saturn's TVL compare to similar protocols?

Among Stablecoin Wrapper protocols tracked by DefiLlama, Saturn ranks #1 by TVL. The category holds $229.75m across 6 protocols, and Saturn accounts for 67% of that total. Other leading protocols include USDCx, XGLD, USDR, USX.Capital, and Rotera.

How many yield pools does Saturn have?

DefiLlama tracks 1 Saturn yield pool with an average APY of 12.4%.