The 1st subsidized stablecoin lending protocol in DeFi

Live on Fraxtal and Sonic 🚀

Launch App

SUPPORTED ASSETS

dUSD

sfrxUSD

sUSDe

sfrxETH

frxETH

FXB

scrvUSD

FXS

sDAI

USDe

dS

S

stS

scUSD

wstkscUSD

dUSD

sfrxUSD

sUSDe

sfrxETH

frxETH

FXB

scrvUSD

FXS

sDAI

USDe

dS

S

stS

scUSD

wstkscUSD

More assets coming soon!

🤌 WHAT?

dTRINITY is a new stablecoin protocol with subsidies for borrowers plus rewards for lenders and liquidity providers (LPs).

🤔 WHY?

Reduce interest expenses, amplify looping strategies, enhance yields, and earn rewards for supplying liquidity.

⏳ WHEN?

Live on Fraxtal since December 2024 and Sonic since May 2025. Expansions to Ethereum and other chains are coming soon.

🌐 WHERE?

Fraxtal L2, created by Frax Finance
Sonic, previously Fantom
Ethereum and others

dUSD and dS are decentralized stablecoins pegged to USD and S, respectively. They are fully backed by yield-bearing reserves. The reserves' yields are then used to fund ongoing interest rebates for dUSD and dS borrowers.

dLEND is a decentralized lending protocol, forked from Aave v3. Lenders can supply dUSD and dS to earn enhanced yields plus rewards. Borrowers can then supply collateral to take out subsidized loans in dUSD and dS.

dUSD and dS pools are deployed on major DEXs like Curve and SwapX to facilitate trading and liquidity, where users can swap dUSD and dS with other assets and liquidity providers can earn yields plus rewards.

HOW?

dTRINITY consists of 3 key components, inspired by Frax’s DeFi Trinity framework:

Decentralized stablecoins
Lending & borrowing protocols
External DEX pools (e.g., Curve)

POINTS PROGRAM

Lenders and LPs can earn dT Points from dTRINITY for supplying liquidity. All points will be converted to utility/ governance tokens during the token generation event within 2025 (TGE).

Learn more

GOVERNANCE

dTRINITY token holders may participate in decentralized governance of the protocol through voting post-TGE.

Learn more

FAQ

More FAQ ->

Yieldcoin “looping,” or leveraging, is a process where a DeFi user repeatedly supplies a yieldcoin (e.g., sUSDe) to a lending protocol and borrows stablecoins against it. The borrowed stablecoins are then used to acquire more yieldcoins as collateral, effectively increasing their exposure with leverage. This strategy could be profitable if the yield generated by the leveraged collateral exceeds the interest rate (borrowing cost) of the stablecoin loan, i.e., a form of carry trade. Looping strategies may involve significant risks, however, including the potential for loss of funds.
Interest rate subsidies/rebates for dUSD borrowers are funded by the dUSD collateral reserve’s earnings. The earnings come primarily from yieldcoins that are held in the reserve.
The collateral reserve of dUSD consists of stablecoins like USDC, frxUSD, DAI, plus yieldcoins like sfrxUSD, sDAI, and RWA tokens. Every dUSD is fully backed by 1 USD worth of collateral and can be minted permissionlessly through smart contracts.
dTRINITY yieldcoin looping vaults (dLOOP) are planned for release in Q2 2025, providing users with a simplified looping experience while unlocking composability through tokenized vault receipts that can be utilized in other DeFi protocols (e.g., 3X sfrxUSD, 3X sUSDe).
USDe, sUSDe (staked USDe), and sfrxUSD (staked frxUSD) will be enabled as collateral to borrow dUSD upon dTRINITY’s debut on Fraxtal. More assets will be supported in the near future.