sYUSD Stablecoin

Staked YUSD Overview

Overview

sYUSD is the yield-bearing, staked version of YUSD within the Aegis protocol. When you deposit YUSD into the staking contract you receive sYUSD, which:

• Represents your proportional share of the staking pool.

• Automatically accrues Bitcoin-funding-rate yield.

• Appreciates in value relative to YUSD over time (the exchange rate rises).

Launch exchange rate: 1 sYUSD = 1 YUSD

Afterwards: 1 sYUSD > 1 YUSD as rewards accumulate.

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The StakedYUSD smart contract implements the ERC4626 Token Vault standard for composability.

This popular standard is widely used for onchain reward-accruing; thus, it is expected that other user interfaces beyond the Aegis.im dAPP may likely support YUSD staking in the future. Various deposit and redeem functions are exposed, enabling staking with or without a slippage threshold, and with or without an ERC2612 Permit signature authorizing the transfer of YUSD.

How It Works

Step	Mechanism
1. Stake	Deposit YUSD → receive sYUSD at the current exchange rate (initially 1:1).
2. Yield accrual	Each week Aegis captures BTC-perp funding, converts it to YUSD, and transfers new YUSD into the staking contract.
3. Exchange-rate update	The pool’s YUSD balance grows while sYUSD supply is fixed ⇒ exchangeRate = pooled YUSD / total sYUSD ticks upward.
4. Unstake	Burn sYUSD → withdraw amount × exchangeRate YUSD. You receive more YUSD than you deposited, reflecting your share of accrued yield.

No claims, no manual compounding, no extra gas beyond stake/unstake.

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Staking Flow

1. Get YUSD — Mint or swap into YUSD.

2. Open the Aegis App — app.aegis.im/stake.

3. Enter amount & sign — One transaction (approve+stake bundled).

4. Initial cooldown — Each deposit has a 7-day lock; after that, users are able to unstake at any time

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Benefits

Benefit	Detail
Passive, auto-compounded yield	Funding-rate profits flow straight into the pool.
Single-token simplicity	Hold or use sYUSD in DeFi; no “reward token” to manage.
Gas efficiency	One stake tx in, one tx out. No weekly claim cost.
Aegis Points eligible	Your sYUSD balance earns Points for future $AEG rewards.
BTC-backed transparency	Real-time reserve dashboard; double audit (Hacken + Sherlock).

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Considerations

• 7-day initial lock per deposit.

• Variable exchange rate — you’ll see fewer sYUSD per YUSD as time goes on (normal for yield-bearing receipts).

• Smart-contract & strategy risk — same profile as YUSD itself (delta-neutral BTC hedge + audited contracts).

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FAQ

Question	Answer
Why isn’t it always 1 sYUSD = 1 YUSD?	Rewards are internalised; as the pool grows, each sYUSD is worth more YUSD.
Do I need to claim anything?	No. The rising exchange rate captures all yield automatically.
Can I transfer sYUSD during cooldown?	Yes. The receiver inherits the remaining lock timer.
Will I still earn Aegis Points?	Absolutely—based on your sYUSD balance.
Is there any fee?	0 % protocol fee; only network gas for stake/unstake.

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