Real-world asset protocol stUSDT has begun winding down, ending interest accrual and opening a six-month redemption window for holders of stUSDT and wstUSDT. The team said holders can redeem through its official portal until May 14, 2027; requests after that will be handled through customer support in monthly batches through August 2027. Holders with tokens on exchanges or DeFi platforms must move them to personal wallets before redeeming.
The team gave no reason for the shutdown but said all 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.
