FAQs

What is stUSDC?

stUSDC is a stablecoin within the Bloom Protocol, backed by TBY (fixed-income debt tokens). stUSDC generates yield from these TBY tokens and adjusts its supply periodically (rebasing) to reflect the accrued interest, maintaining a stable value pegged to its underline.

What is wstUSDC?

wstUSDC is the wrapped version of stUSDC. Unlike stUSDC wstUSDC has a fixed supply, making it easier to use in various DeFi applications and across multiple blockchain networks without the complications of rebasing.

What is SUP?

SUP is StakeUp Protocol’s yield bearing Utility token, which allows stakeholders to earn a share of StakeUp protocols fees. Fees are paid out to stakeholders according to thier side of SUP, fees are paid in stUSDC

How does stUSDC generate yield?

stUSDC generates yield through the underlying TBY tokens, which are 6-month fixed-income debt tokens. These tokens pay a set interest rate, and the yield is distributed to stUSDC holders through the rebasing protocol logic.

How do I wrap stUSDC into wstUSDC?

To wrap stUSDC into wstUSDC, you interact with the wstUSDC contract. The conversion is based on the current exchange rate between stUSDC and wstUSDC, reflecting the total value of stUSDC. Users will be able to do this on StakeUp and other supported DeFi protocols.

How do I unwrap wstUSDC back into stUSDC?

To unwrap wstUSDC back into stUSDC you use the wstUSDC contract. The conversion back to stUSDC is based on the current exchange rate at the time of unwrapping.

What are the benefits of holding stUSDC?

Holding stUSDC allows you to earn yield generated by the underlying TBY tokens. The rebasing mechanism ensures your holdings reflect the accrued interest, maintaining a stable value pegged to the underline asset.

What are the benefits of holding wstUSDC?

Holding wstUSDC provides a stable and predictable token balance, making it easier to use in multi-chain environments and various DeFi applications. wstUSDC does not undergo rebasing, which simplifies liquidity provision and integration with other protocols.

Why should I wrap stUSDCinto wstUSDC?

Wrapping stUSDCinto wstUSDC is beneficial for using the asset in DeFi applications and multi-chain integrations where a fixed supply token is more supported and rebasing token are not. It avoids the complexities of rebasing, providing a stable and consistent token balance. In some regions non-rebasing tokens are easier to report on taxes.

what are the fees?

StakeUp protocol only takes a 10% perfomance fee, there are no other fees.