At a glance

  • stUSDT and wstUSDT “will be discontinued”, the project said on X at 06:36 UTC on Saturday, 14 Nov. Rebase rewards ended the same day, and the redemption period runs to 14 May 2027.
  • The self-service portal closes at 23:59 UTC on 14 May 2027. After that, requests go through customer support and are paid in monthly batches until August 2027, the project’s redemption guide says.

stUSDT is a token that paid holders a return from real-world assets by raising their token balances over time, a mechanism called a rebase. Its strategy was mainly high-rated short-term government bonds, ChainCatcher reports; wstUSDT is the wrapped version that keeps a fixed balance instead. From 14 Nov, stUSDT no longer earns anything.

The project describes the shutdown as its “sunset phase” and says in the guide that “all underlying assets remain fully backed”. It gives no reason for closing, and it does not set out a redemption ratio or any fee beyond network gas.

Money already leaving

The value locked in stUSDT fell from about $47.5 million on 13 Nov to about $9.5 million on 14 Nov, and stood near $8.7 million at 10:47 UTC, DefiLlama data show. Almost all of what remains, about $8.69 million, is on Tron, with about $19,000 on Ethereum. A year earlier, on 14 Nov 2025, the figure was about $60.3 million.

On JustLend, Tron’s lending market, wstUSDT deposits totalled $616,890 on 12 Nov, according to a stUSDT data post.

How to redeem

The guide asks holders to move any tokens sitting on an exchange or in a protocol such as JustLend, SunSwap or Curve back to a personal wallet first. Then:

  • stUSDT: connect a wallet at stusdt.io, open the Stake page, choose Unstake and the network, enter the amount and confirm. The USDT only arrives after a second step, a click on “Claim”.
  • wstUSDT: on the Wrap page, choose Unwrap to turn it back into stUSDT, then follow the stUSDT steps.

The wallet needs some TRX or ETH to pay network fees. Exchanges, wallets and DeFi protocols will gradually stop supporting both tokens, the guide warns, so holders using them should follow each platform’s own instructions.

Context

Yield-paying dollar tokens have been shrinking with the rest of the market. As CryptoWatchDesk reported on 12 Nov, stablecoin supply fell by $14.5 billion in 30 days, the most since mid-2022. Readers new to the asset class can start with what a dollar stablecoin is; stUSDT is not one in the usual sense, since its return came from the assets behind it.

What it changes for users

Holders stop earning today and should redeem through stusdt.io well before 14 May 2027, remembering the “Claim” step. stUSDT says it will never message first, ask for a recovery phrase or ask anyone to send funds to redeem, and it lists only its website and its Telegram support channel as official, it said in a security reminder. For another wind-down with a deadline, see the 1inch Card wind-down.

This article is for information only and is not investment advice.