Stable launched StableEarn on May 26 with an initial Morpho vault backed by Theo’s three real-world asset products. Gauntlet curates the vault’s risk parameters and oversees more than $1B in assets across the Morpho protocol. The vault targets USDT holders seeking yield linked to real-world market returns through Theo’s thBILL, thGOLD, and thUSD. thBILL provides tokenized exposure to U.S. Treasury bills, thGOLD provides gold-denominated carry, and thUSD is a delta-neutral yield product derived from gold derivatives. Each product is supported by physical or institutional-grade collateral and hedged using CME and NYMEX futures. StableEarn routes USDT deposits into these strategies to generate yield from market activity rather than token incentives.
"Stable launched StableEarn on May 26, with the first Morpho vault backed by Theo's 3 RWA products. Gauntlet curates risk for the vault, overseeing more than $1B in assets across the Morpho protocol. Theo's thBILL, thGOLD, and thUSD target USDT holders seeking yield tied to real-world market returns. Stables announcement, shared with Bitcoin.com News, notes that USDT holds a near $190 billion in market cap and accounts for over 50% of the global stablecoin market."
"Despite that scale, users and businesses looking to put idle USDT to work have had limited access to competitive yield options natively on the chain. StableEarn is Stable's attempt to close that gap. The first vault runs on Morpho, an onchain lending protocol. Risk parameters are curated by Gauntlet, a risk management firm with more than $1 billion in assets under curation and one of the longer-standing curators on the Morpho protocol."
"The yield is sourced through Theo, a real-world asset platform co-founded by former quantitative traders from Optiver and IMC. Theo's products sit at the center of the vault's strategy. Three products from Theo back the vault: thBILL, which offers tokenized exposure to U.S. Treasury bills; thGOLD, a gold-denominated carry product; and thUSD, a delta-neutral yield product derived from gold derivatives. Each product is backed by physical or institutional-grade collateral and hedged on CME and NYMEX futures exchanges."
"The vault structure channels USDT deposits into these strategies, generating yield from real-world market activity rather than token incentives. Brian Mehler, CEO of Stable, said USDT holders have lacked access to competitive yields despite the stablecoin's dominant position. StableEarn changes that by bringing together institutional-grade yield and the chain built around USDT, Mehler said."
Read at news.bitcoin.com
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