24h Change+0.028%
All Time HighJun 30, 2026$11.13
All Time LowFeb 26, 2025$10.29
Market Cap$867.07m
Fully Diluted Valuation$867.07m
Circ. Supply77.9m USTB
CEX Volume$0
DEX Volume$0
How much debt can be issued against USTB as collateral across lending protocols.
Maximum possible exposure to USTB
$10.3m
$10.3m (max additional borrows against USTB) + $9.99 (bad debt if USTB was hacked now)
Aave V3
$10.3m at-risk exposure = -- bad debt if hacked + $10.3m additional borrowable against USTB
Maple
$9.99 at-risk exposure = $9.99 bad debt if hacked + $0 additional borrowable against USTB
Showing collateral exposure for USTB on Ethereum. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
Each row is one protocol-chain exposure for USTB as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
USTB0x43415eb6ff9db7e26a15b704e7a3edce97d31c4e | $10.3m | — | ||
USTB0x43415eb6ff9db7e26a15b704e7a3edce97d31c4e | $0 | $9.99 |
Risk-management actions published about USTB by tracked risk managers and governance contributors, newest first.
Superstate's USTB selected for up to $300M allocation in the Spark Tokenization Grand Prix, aiming to onboard tokenized RWAs into Sky's collateral composition if governance approves.
USTB features daily mints and burns with next-day settlement maximums, supported by a reputable team and high AUM for fast redemptions. Its leading risk-adjusted yield, lower fees than BUIDL, and strong structure position it well for spreading reserve exposure away from concentrated holdings.
USTB provides tokenized exposure to short-duration U.S. Treasury securities via a highly regulated private fund under Section 3(c)(7), targeting returns aligned with the federal funds rate through investments managed by Federated Hermes and custodied at UMB Bank. Its daily NAV-based liquidity and annual EY audits support low-risk integration, though Aave DAO should establish an SPV to address U.S. regulatory and jurisdictional risks.
Superstate’s USTB, a tokenized U.S. Treasury Bill product, is proposed for a 50:50 allocation in the GHO GSM to diversify reserves and yield sources. It offers transparency via Chainlink oracles, bankruptcy-remote structure with UMB Bank as custodian and Ernst & Young as auditor, and competitive yields with waived fees under $200M AUM.
LlamaRisk details risk assessment criteria for tokenized securities like USTB, focusing on AUM, product maturity, legal/regulatory compliance, decentralization assurances, secondary market liquidity, redemption processing times, and investor onboarding requirements to inform Aave governance evaluations.
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Tracking 4 pools, average APY 3.64%
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabUSTB | 🪂 | $723.46m | 3.64% | 3.64% | 3.45% | ||||
| open in new tabUSTBAave Horizon Market | $77.55m | 0% | 0% | 0% | |||||
| open in new tabUSTB | 🪂 | $4.05m | 3.64% | 3.64% | 3.45% | ||||
| open in new tabUSTB | 🪂 | $2.24m | 3.64% | 3.64% | 3.45% |
Showing 10 of 25 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabUSTB ➞ WBTC | $1.782b | -0.32% | 0% | -0.37% | 88% | $77.55m | $0 | ||
| open in new tabUSTB ➞ CBBTC | $1.111b | -0.25% | 0% | -0.29% | 88% | $77.55m | $0 | ||
| open in new tabUSTB ➞ WETH | $653.03m | -1.84% | 0% | -2.09% | 88% | $77.55m | $0 | ||
| open in new tabUSTB ➞ USDE | $188.17m | -2.28% | 0% | -2.60% | 88% | $77.55m | $0 | ||
| open in new tabUSTB ➞ TBTC | $113.81m | -0.24% | 0% | -0.27% | 88% | $77.55m | $0 | ||
| open in new tabUSTB ➞ LINK | $63.61m | -0.64% | 0% | -0.73% | 88% | $77.55m | $0 | ||
| open in new tabUSTB ➞ GHO | $30.5m | -2.35% | 0% | -2.67% | 88% | $77.55m | $0 | ||
| open in new tabUSTB ➞ WETH | $3.32m | -1.81% | 0% | -2.06% | 88% | $77.55m | $0 | ||
| open in new tabUSTB ➞ LUSD | $1.35m | -1.82% | 0% | -2.07% | 88% | $77.55m | $0 | ||
| open in new tabUSTB ➞ CRVUSD | $132,167 | -2.25% | 0% | -2.55% | 88% | $77.55m | $0 |
