Real-world asset protocol stUSDT has begun winding down, ending interest accrual and opening redemptions for stUSDT and wstUSDT holders through May 14, 2027. The team said requests made after that deadline will be handled through customer support in monthly batches through August 2027. Holders whose tokens are on exchanges or DeFi platforms must first move them to personal wallets.
The team gave no reason for the shutdown but said the underlying assets remain fully backed. JustLend DAO said it would phase out supply and borrowing functions for its wstUSDT market. DefiLlama data put stUSDT’s total value locked at about $8.6 million on Sunday, down from a peak of about $2.3 billion in November 2023.
