Originally reported November 14, 2026. ChainCatcher reported that stUSDT, a stablecoin deposit-receipt token operating on Tron and Ethereum, and its wrapped version, wstUSDT, had begun an orderly exit. The key difference for holders is the redemption path: wstUSDT must first be unwrapped into stUSDT.
According to the official announcement cited by ChainCatcher, Rebase rewards ended and the redemption window opened on November 14, 2026. The redemption portal is scheduled to close May 14, 2027, at 7:59 p.m. Eastern Time. Rebase rewards had previously increased holders’ token balances. The token was used for real-world-asset investment, with a strategy focused mainly on highly rated short-term government bonds.
| Holding | Steps described in the exit guide |
|---|---|
| stUSDT | On the official Stake page, complete Unstake, then click Claim to receive USDT. Submitting an unstake transaction alone does not complete redemption. |
| wstUSDT | On the official Wrap page, Unwrap into stUSDT first, then follow the stUSDT steps. |
Holders with tokens on an exchange or platforms such as JustLend, SunSwap or Curve must first move them to a personal Web3 wallet. The wallet also needs TRX or ETH for network fees. After the portal closes, redemption requests must go through official customer support; the guide says they will be processed in monthly batches through August 2027.
The exit guide did not state why the tokens were being wound down or specify a redemption ratio or fees. The team said the underlying assets remained fully backed; that is the team’s claim, not a redemption term established by the guide.
For scale, DefiLlama data cited in the report put stUSDT’s total value locked at approximately $9.49 million on November 14, 2026, nearly all on Tron, compared with $60.28 million on November 14, 2025. Those figures describe value locked, not the terms holders will receive on redemption.