What Is USDat?

USDat is Saturn’s stablecoin, a digital token intended to track the value of the US dollar. Saturn’s website describes its backing as PayPal USD through PYUSDx, a token representing that backing. USDat is distinct from sUSDat, the investment shares received when depositing USDat into Saturn’s separate income-generating product.

Saturn describes sUSDat’s investments as exposure to Strategy’s STRC preferred shares through Ondo STRCon, a token representing those company securities. Those shares can pay dividends, but holding USDat itself is not the same as holding sUSDat or receiving those dividends. USDat’s price and ability to be exchanged depend on its backing, operating rules and available trading funds; a dollar target is not a guarantee. See Saturn’s terms for eligibility and redemption limitations.