rSTS Token
rSTS Token Overview
The rSTS (Receipt Stasis Token) is the core yield-bearing token of the Stasis protocol. It represents a user's claim on the vault’s USDC holdings and accrues value over time through a protocol-controlled interest rate. The token does not rebase, but instead uses a dynamically growing exchange rate to reflect accrued yield.
📐 Token Mechanics
🔁 Auto-Compounding via Exchange Rate
rSTS does not distribute yield via direct payments or rebasing. Instead, the value of rSTS increases over time thanks to a rising exchange rate, determined by a fixed APR set by the protocol.
No need to claim rewards manually
No gas spent for compounding
All accrual is reflected in the rSTS/USDC exchange rate
⚙️ Exchange Rate Formula
Exchange Rate = f(APR, Time Elapsed)The exchange rate is updated every time users interact with the vault (e.g., deposit, withdraw, claim). It grows linearly over time according to the current APR.
Note: The formula Total Vault Value / Total rSTS Supply is not used in this system. Vault value may be held off-chain, and rSTS reflects time-based accrual, not direct reinvestment.
🔑 Key Features
🔄 Automatic Yield Accrual
rSTS exchange rate increases over time
Yield is automatically reflected in token value
Users simply hold the token to accrue value
📊 Real-Time Valuation
Exchange rate available on-chain anytime
Viewable via UI and smart contract calls
rSTS balance * exchange rate = USDC equivalent
🔒 Timed Withdrawals
Withdrawals must be requested and then claimed after a lock period (e.g., 2 days)
rSTS is burned on withdrawal request; USDC becomes claimable after the delay
💧 Managed Liquidity
Liquidity is provided manually by the team to fulfill claims
Event logs signal required liquidity to off-chain operators
🛡️ ERC-20 Compatibility
Fully compliant with ERC-20
Transferable, usable in DeFi and wallets
🔧 Token Operations
📥 Minting (Deposit)
User deposits USDC into the vault
Vault calculates rSTS to mint based on the current exchange rate
USDC is forwarded to the vault wallet (off-chain holding)
rSTS tokens are minted to the user
rSTS_amount = USDC_deposited / current_exchange_rate📤 Withdrawal (Request & Claim)
User requests a withdrawal by specifying rSTS amount
Vault burns rSTS and stores the claimable USDC (after lock delay)
After the lock period, user can claim if liquidity is available
USDC_amount = rSTS_redeemed * current_exchange_rate📈 Yield Accrual Example
Initial State
Deposit: 1,000 USDC
Exchange rate: 1.00
rSTS received: 1,000
After 1 Year (6% APR)
Exchange rate: 1.06
rSTS balance: 1,000
Value: 1,060 USDC
Yield: 60 USDC (auto-accrued)
⚠️ Risk Considerations
🔐 Smart Contract Risk
Code vulnerabilities may affect funds
Contract upgrades and audits advised
🎯 Strategy Risk
Returns rely on external strategies (e.g., funding rate arbitrage)
Strategies are managed off-chain
💧 Liquidity Risk
Claiming requires USDC liquidity in the vault
Large redemptions may require time to settle
A lock period gives time to provision liquidity
ℹ️ Token Information
Name: Receipt Stasis Token
Symbol: rSTS
Decimals: 18
Network: Avalanche Fuji Testnet
Contract Address: [To be updated]
Supply Mechanics
Initial Supply: 0
Minted on deposit, burned on withdrawal
No inflation beyond actual deposits
This documentation reflects the true on-chain mechanics of the rSTS vault system, which simulates yield accrual over time via an increasing exchange rate, rather than through realized gains or automated reinvestment.
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