what's USDat?

USDat is a synthetic dollar stablecoin protocol developed by Saturn, leveraging digital credit mechanisms akin to Bitcoin's model. It functions as a dollar-denominated token that routes on-chain dividends from underlying preferred equity positions, providing users with a stable asset integrated into DeFi ecosystems. The protocol emphasizes Bitcoin-backed stability through structured yields, enabling seamless interaction with decentralized finance applications. Launched with seed funding from prominent investors, USDat aims to bridge traditional credit concepts with blockchain infrastructure for reliable value transfer.

USDat secured $800k led by YZi Labs, offering 11% yield backed by BTC collateral.