Latest research on $USDat and $sUSDat by @saturn_credit, a competitor of @apyx_fi and using $STRC as collaterals. We include $USDat as Tier 3 stablecoin for now, as it's a wrapper of $wM. We include $sUSDat on the Watch List, as the protocol is yet to present an attestation and/or Accountable page on its $STRC holdings. Generally speaking, we are also concerned by $apyUSD and $sUSDat's collateral exposure to STRC, which is not guaranteed at $100, nor will it always recover from a depeg. Logically, STRC should follow a market price like other fixed income instruments, subject its pricing to its coupon rate AND the general market yield curve. Senior tranches of each product by @roycoprotocol and @strata_markets address the potential price issue of STRC, subject to the coverage depth provided by their respective junior tranches.
