USDat

USDat is issued by Saturn. What stands behind it: short-dated government bills. Only approved holders can redeem it; others leave by selling. Part of its yield on Pendle is a campaign of incentives, not the asset's own earnings.

Facts

Issuer

Saturn

What stands behind it

short-dated government bills

Strategy

tokenised Treasury bills

Valued in

USD

Position in the capital stack

not a tranche

Who has to keep a promise

a regulated issuer

Redemption

redeemed only by approved holders

Who can change it

a timelock · 120 h delay · the admin role · five days on Ethereum; two days on BNB and Monad 0xfd5782e3bff366601da3973ae30c583de4f08a67 (Ethereum)

Audits

Certora, 2026-04 (report 1)
Certora, 2026-04 (report 2)
Also named by the issuer, without a linked report: Three Sigma

Bug bounty

not found in a source that meets the standard

Depends on

none recorded
Other assets from the same issuer: sUSDat

Chains

BNB, Ethereum, Monad

Checked

2026-10-01, from the issuer's own documents

Sources

https://saturncredit.gitbook.io/saturn-docs/solution/how-usdat-and-susdat-works
https://saturncredit.gitbook.io/saturn-docs/solution/usdat-overview/mint-and-redeem
https://saturncredit.gitbook.io/saturn-docs/operations-and-governance/transparency-and-audits
https://saturncredit.gitbook.io/saturn-docs/operations-and-governance/key-addresses
https://www.certora.com/reports/saturn-dollar

Pendle markets on it

Live Pendle markets on this asset, as of 6 Oct 2026. Rates are not shown. Market data: Pendle.

Not found

What the research has not answered for this asset, said rather than left blank.

• A public bug bounty programme.
• Incidents: this encyclopedia does not yet keep a record of incidents from primary sources.