How asUSD generates yield that stays on Ethereum

When you hold USDC, Circle earns 5% on your dollar. When you hold DAI, Sky captures the surplus. Traditional stablecoins treat holders like banks treat depositors—you take the risk, they keep the yield.

asUSD flips this extraction. Every basis point generated flows back to holders through mechanisms that can only exist on Ethereum.

Where asUSD Yield Comes From

Unlike ponzinomics or emissions, asUSD generates real, sustainable yield from actual economic activity:

Credit Spreads (Primary Driver) When users borrow asUSD from Astera Lend, they pay interest. Not to a protocol treasury, not to governance tokens—but directly to asUSD holders. This isn't some 2% savings account rate. Credit-hungry DeFi regularly pays 10-30% for efficient capital.

AMO Operations (Market Making) Arbitrage AMOs don't just stabilize the peg—they profit from volatility. Every correction from $0.99 to $1.00, every tightening from $1.01 to parity, generates returns that flow to stakers.

B2F Credit Lines (Protocol Yields) When Astera extends credit to external protocols—lending markets, perpetual exchanges, liquidity bootstrapping—those protocols pay interest that flows back to asUSD holders.

Staked asUSD: Single-Sided, Liquid, Composable

Staking asUSD couldn't be simpler:

• Deposit asUSD → Receive asUSDs (staked asUSD)

• No impermanent loss from pair exposure

• Auto-compounding yields without claiming

Your asUSDs remains liquid, allowing you to:

• Trade to other assets without unstaking

• Redeem directly for underlying asUSD

• Use as collateral while still earning yield

The Adaptive Rate Engine

asUSD interest rates adjust automatically based on real liquidity conditions.

When supply exceeds demand:

• Borrowing rates increase automatically

• Higher yields flow to stakers

• Market equilibrium restored

When demand rises:

• Rates decrease to stimulate borrowing

• New use cases become profitable

• Demand regenerates organically

The market sets the rate, code enforces it, holders benefit from it.

The Multiplier Effect

As more Facilitators come online, yield sources multiply:

Lending Facilitators → Interest from overcollateralized loans AMO Facilitators → Profits from market operations B2F Credit Lines → Yields from protocol integrations Cross-chain Deployment → Fees from bridging and arbitrage

Each Facilitator adds a new, uncorrelated yield stream. Traditional stables have one source (T-bills). asUSD can have dozens, all feeding the same staking pool.

Built for Growth, Designed for Safety

The architecture includes advanced features like rehypothecation—the ability to deploy idle collateral for additional yield. While not active at launch, it represents the kind of forward-thinking design that lets asUSD evolve without requiring migration or disruption.

Every feature is there when the market needs it, not forced before it's ready.

Why This Only Works on Ethereum

This isn't possible with:

• USDC/USDT: Centralized control captures all value

• Algorithmic stables: No real yield, just token emissions

• CDP stables: Fragmented across isolated vaults

• Bank stablecoins: Will never share their profits

Only Ethereum's composability allows multiple yield sources to seamlessly combine. Only smart contracts can distribute profits without intermediaries. Only asUSD aligns incentives where they belong—with holders.

The Choice Is Yours

Every dollar in centralized stablecoins is a subsidy to traditional finance. Every asUSD is a vote for yields that stay on-chain, profits that flow to users, and value that accrues to Ethereum.

The infrastructure is live. The yields are real. The only question is:

Will you keep subsidizing banks, or start earning what your capital deserves?