PT-sUSDat Max APY Yield Strategy

sUSDat is the yield-bearing version of USDat, Saturn's stablecoin backed 100% by digital credit (STRC from MicroStrategy's Strategy). As digital credit dividends accrue, the sUSDat exchange rate against USDat increases.

How the strategy works

This is a max-APY yield loop: PT-sUSDat is supplied as collateral and USDC is borrowed against it on Morpho, then recycled back into PT-sUSDat to multiply the underlying Digital Credit yield. Because the two assets are price-correlated, the position targets amplified yield rather than directional price exposure.

Strategy details

Collateral asset

PT Staked USDat 27AUG2026 (PT-sUSDat)

Borrowed asset

USDC

Issuer

Saturn

Yield source

Digital Credit

Underlying

USDat

Category

stable-PT

Network

Ethereum

Protocol

Morpho

Live metrics

Collateral APY

11.77%

Net borrow APY

7.36%

Max leverage

11.4x

Default leverage

10.5x → 53.67% APY

Leverage ladder

1x 11.77% · 2x 16.18% · 3x 20.59% · 4x 25.00% · 5x 29.41% · 6x 33.82% · 7x 38.23% · 8x 42.64% · 9x 47.05% · 10x 51.46% · 11x 55.87% · 11.4x(max) 57.63%

Oracle type

nav

Exit slippage

$100k 1.07% · $500k 34.92% · $1M 67.47% · $5M 95.01% · $10M 97.49%

as-of 2026-08-14T07:18:50.132Z — live snapshot. Live data (source of truth): https://api.spiralstake.xyz/v1/strategies?chainId=1

Saturn website · All strategies