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YLD: The Yield Claim

YLD is the yield claim NFT of the STBL ecosystem. It is minted alongside USST whenever collateral is deposited into the protocol. While USST provides stability and liquidity, YLD represents the right to claim the yield generated by the underlying collateral.

By splitting yield from principal at the protocol layer, STBL ensures that stablecoins remain liquid while yield accrues transparently and independently.

Key Properties​

  • NFT Format: YLD is issued as a non-fungible token, making each yield claim unique to its collateral deposit.
  • Yield Accrual: Yield builds up automatically over time from the real-world assets backing the system.
  • Programmable: YLD can be held, transferred, or integrated into DeFi strategies, subject to conditions of the staked tokenised RWA.
  • Decoupled from USST: Even if you use USST for payments, trading, or treasury management, YLD continues to capture the underlying yield.

How YLD is Created​

  1. Collateral Deposit: A user locks eligible tokenized RWA collateral (e.g., USDY, OUSG, BUIDL).
  2. Dual Minting: The protocol mints two tokens:
    • USST (stablecoin)
    • YLD (yield claim NFT)
  3. Yield Accrual: YLD automatically accumulates yield from the collateral for the duration of the deposit.

Why YLD Matters​

  • Liquidity Freedom: Users don’t need to lock up their stablecoin to earn yield. USST stays liquid while YLD captures returns.
  • Composability: YLD can be programmed into DeFi products — for example, fractionalizing yield streams, packaging them into structured products, or building secondary markets.
  • Transparency: Yield rights are fully visible on-chain, with no hidden fees or opaque custodians.
  • Flexibility: Users can choose to hold YLD for yield, trade it, or deploy it into yield-sharing strategies.

YLD is the programmable yield layer of Stablecoin 2.0 — making real-world yield composable, transparent, and user-owned.