Resolv’s stUSR: Risk-Adjusted 10% Yield in 2025
What is Resolv?
Resolv is a decentralized protocol powering USR, a delta-neutral stablecoin backed by ETH and derivatives. Its unique architecture isolates market risks into the RLP token (Resolv Liquidity Pool), allowing USR to maintain stability while offering yield through staking. The protocol combines ETH staking rewards and perpetual futures hedging to generate returns, distributing profits daily to stUSR and RLP holders.
📊 Factsheet
| Category | Details |
|---|---|
| Name | Resolv |
| Yield | ~10% APR (stUSR) / ~31% APY (RLP) |
| Sector | DeFi, Yield Farming, Stablecoins |
| Chains | Ethereum, Base |
📈 Yield Steps: How to Earn with stUSR
- Deposit Collateral: Use USDT, USDC, or ETH to mint USR at a 1:1 ratio.
- Stake USR: Convert USR to stUSR (yield-bearing token) via Resolv’s app.
- Earn Daily Rewards: Profit distributions occur every 24 hours, sourced from ETH staking yields and futures funding rates.
- Optional Boosts: Amplify rewards by participating in Resolv’s points program (e.g., referrals, cross-chain swaps, NFT holdings).
The Mechanics of Resolv’s Yield
The Delta-Neutral Engine
Resolv’s stability hinges on balancing ETH spot holdings with short perpetual futures. This neutralizes price volatility, ensuring USR remains pegged to $1. Profits from staking ETH (e.g., via Lido’s wstETH) and positive funding rates from futures are pooled and split:
- 70% to stUSR/RLP holders (base rewards).
- 30% to RLP holders (risk premium).
Risk vs. Reward
- stUSR: Low-risk, 10% APR from ETH staking and arbitrage. Ideal for stablecoin holders seeking passive income.
- RLP: High-risk, 31% APY by absorbing protocol losses (e.g., negative funding rates). Targets yield-maximizing investors.
Transparency & Backing
- Each USR is overcollateralized by $1.7 in assets (61.5% on-chain ETH, 27.2% in custodial wallets).
- Real-time collateral tracking is available on Resolv’s dashboard, including Hyperliquid futures positions.
⚠️ Key Risks
- Counterparty Risk: Margin accounts on exchanges like Hyperliquid could face liquidation.
- Funding Rate Swings: Prolonged negative rates may erode RLP value, though stUSR remains shielded.
Final Takeaway
Resolv’s stUSR offers a compelling blend of stability and yield, ideal for cautious DeFi users. With TVL surging 400% in late 2024, it’s a project to watch — but always DYOR on delta-neutral nuances.