Introducing the saETH Vault: A New Era for Liquid Staking and USX!

Following the unanimous approval of DIP065, we are thrilled to announce the launch of a new Vault featuring the Aspida LST $saETH, effective Thursday, June 27th!

Keep reading to learn more about Aspida, discover how you will soon be able to use the Vault and get rewarded for doing so!

Introducing: Aspida

Already one of the protagonists of the past dForce Arbitrum STIP campaign, Aspida is a pioneering liquid staking infrastructure designed to enhance LST assets. Their focus on decentralization and optimizing risk-adjusted staking yields sets them apart. Aspida collaborates with Distributed Validated Technology (DVT) solutions such as SSV to decentralize validator sets and integrates native staking via Eigenlayer for optimized yields.

Understanding $aETH and $saETH

Aspida has introduced two key tokens: $aETH and $saETH.

• $aETH: This is a deposit certificate minted at a 1:1 ratio with ETH. Holders can unstake $aETH to redeem ETH or exchange it via Aspida’s liquidity module or external decentralized exchanges (DEX).
• $saETH: Built using the ERC-4626 standard, $saETH is a staking ETH LSD token. Users can stake $aETH to obtain $saETH and benefit from its leveraged yield structure, offering higher yields compared to native staking.

How to Utilize the saETH Vault

With the Vault, users can deposit their assets, in this case saETH, to mint USX against them at a fixed interest rate. The saETH Vault will be accessible in th Vault section of our dApp at app.usx.finance starting Thursday, June 27th. Initially, the saETH Vault will be launched on Arbitrum.

Here are the key parameters approved by the governance:

• Loan-to-Value (LTV): 70%
• Supply cap: 2,000 saETH
• Mint cap: 4,000,000 USX
• Borrow fee: 0%
• Borrow interest: 16%
• Liquidation fee: 5%
• Close factor: 50%

Scope of this Strategic Partnership

This partnership marks a significant milestone for USX, allowing it to be minted through a Vault featuring an LST for the first time. By integrating LSTs, we aim to extend USX’s collateral to a diverse range of assets, enhancing its presence in the broader DeFi ecosystem in sight of the launch of sUSX, too! This strategic move aims to improve capital efficiency and better align with our overall mission and strategy.

Incentives to Boost Adoption

To support the adoption of saETH on Arbitrum, dForce with its “Arbitrum Summer Vibes” campaign as well as Aspida with its Shield points will provide incentives. Stay tuned for more details on these exciting programs!

We are excited to embark on this journey and look forward to the enhanced opportunities and benefits that the saETH Vault will bring to our community. Stay connected for more updates and join us as we explore the future of Liquid Staking and decentralized stablecoins together!