Overview of the token model

Steady (STDY) is a fully collateralized stablecoin built on an ERC-20 foundation. Every STDY token in circulation represents 1 USD held in reserve. There is no fractional reserve, no synthetic backing, no algorithmic adjustment… just direct, one-to-one collateralization with assets you can verify yourself through our Transparency Portal.

What makes Steady different from a typical stablecoin isn't just its backing, it's what we do with the reserves. The capital backing STDY is invested in short-term U.S. Treasury Bills, which generate yield. Up to 95% of that yield is shared back with holders, automatically, through a rebase mechanism embedded in the smart contract. Our smart contract automatically makes every holder's position grow automatically to reflect the performance of our underlying, with no action needed from the user's side. The remaining 5% covers our operating costs (of course, we have to pay our bills too).

The Token Lifecycle

Steady has a simple, three-stage lifecycle:

Mint. When an onboarded institutional investor acquires STDY, our system mints the corresponding amount of new tokens directly into their wallet. The total supply increases by exactly that amount, and the corresponding USD becomes part of our reserves, which then gets invested in T-Bills, fully collateralizing the new tokens from the moment they exist.

Hold. While held, every STDY position grows automatically through the rebase mechanism. The supply adjusts on-chain at every block, and every holder's balance grows proportionally to reflect the performance of the underlying. There's nothing for the holder to do, no claim button to click, no transaction to sign.

Redeem. When an onboarded investor wants to exit, they submit a redeem request through our platform. Our team processes the redemption, burns the corresponding STDY tokens, and returns the USD value to the investor. The total supply decreases by the redeemed amount.

The lifecycle is symmetrical and verifiable. Every mint is backed by new reserves. Every redemption removes both tokens and the corresponding reserves. Total supply, reserve composition, and rebase history are all independently auditable through public blockchain explorers and our Transparency Portal.