Saturn

Total Value Locked$158.92m

TVL by Chain

Ethereum$158.92m

Key Metrics

Fees 30d$1.76m

Fees 30d by chain

Ethereum$3.6m

Fees 7d$56,665

Ethereum$81,704

Fees 24h$126,486

Ethereum$126,486

Cumulative Fees$3.87m

Ethereum$45.54m

Revenue 30d$182,602

Revenue 30d by chain

Ethereum$182,602

Revenue 7d$89,238

Ethereum$89,238

Revenue 24h$51,809

Ethereum$51,809

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 APY12.38%

Competitors

USDCx ($67.17m)XGLD ($11.31m)USDR ($4.18m)USX.Capital ($763,493)Rotera ($1.57)

Income Statement for Saturn

YearlyQuarterlyMonthlyCumulative

	Q4 2026*	Q3 2026	Q2 2026	Q1 2026
Gross Protocol Revenue	$183.15K	$15.34M	-$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	$19.99K	$12.18M	-$8.23M	$0
Deposit/Withdraw Fees	$182.74	$0	$0	$0
Cost of Revenue	$42.1K	$14.51M	-$12.45M	$0
Effect of STRC price fluctuations	$19.99K	$12.18M	-$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	$15.67K	$92.61K	$31.83K	$0
Gross Profit	$141.05K	$833.5K	$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	$162.76	$0	$0	$0
Earnings	$141.05K	$833.5K	$793.21K	$14.04K

Income Flow Visualization

YearlyQuarterlyMonthlyCumulative

Frequently Asked Questions

What is Saturn's TVL?

Saturn currently has $158.92m in total value locked. TVL has increased 15.7% 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 $1.76m in fees. Of that, $182,602 was protocol revenue. Based on the trailing year, the annualized rate is $6.87m 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 $242.34m across 6 protocols, and Saturn accounts for 65.6% 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%.