Saturn USDat (USDat) stablecoin analytics
USDat is Saturn's non-yield-bearing M0-backed dollar token, mintable and redeemable through KYC-gated Swap Facility flows.
Static Profile
Static stablecoin profile
Saturn USDat (USDat) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg US Dollar.
AI summary / Updated Jul 8, 2026
Saturn's USDat is a permissioned M0 wrapper of short-term T-bills, with the actual Saylor exposure sitting one floor up in the sUSDat vault that rotates into Strategy's perpetual preferred equity. Saturn pitches itself as the digital monetary layer for a financial system backed...
AI summary · drafted by claude-fable-5 · reviewed by @TokenBrice on Jul 8, 2026 · facts as of Jul 8, 2026
- Collateral
- 100% backed by M (M0 Protocol's tokenized short-term U.S. Treasury bills) at launch — capital is held directly in the USDat smart contract and verifiable on-chain; protocol roadmap allows reserves to shift toward digital credit instruments (e.g. Strategy STRC preferred equity) over time
- Peg Mechanism
- Permissioned 1:1 mint by depositing USDC via the M0 Swap Facility (Uniswap V3 1bps tier) which routes through wM; redemption returns USDC by unwrapping USDat back to wM and burning the USDat. Only KYC-onboarded addresses can mint, redeem, or hold USDat; geofenced away from US, EEA, and OFAC-sanctioned jurisdictions
- Jurisdiction
- British Virgin Islands
- Proof Of Reserves
- Real-Time PoR by Saturn Protocol reserve analytics API (in-house, live same-day JSON of USDC/M/USDAT composition dominated by M0's $M; the previously recorded Accountable + Chainlink attribution is unsubstantiated - CSP and bundles show only the M0 stack and Chainlink CCIP messaging, no PoR vendor) Reserve source
Snippet Answer
Is USDat safe?
Pharos does not mark USDat as absolutely safe. Static metadata says Saturn USDat uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Real-Time PoR from Saturn Protocol reserve analytics API (in-house, live same-day JSON of USDC/M/USDAT composition dominated by M0's $M; the previously recorded Accountable + Chainlink attribution is unsubstantiated - CSP and bundles show only the M0 stack and Chainlink CCIP messaging, no PoR vendor); the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Next Actions
Exact bot target: /subscribe dews,depeg,safety usdat-saturn
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Jul 8, 2026.
USDat quick answers
What is Saturn USDat (USDat)?
USDat is Saturn's non-yield-bearing M0-backed dollar token, mintable and redeemable through KYC-gated Swap Facility flows. The static profile records its US Dollar peg mechanism as: Permissioned 1:1 mint by depositing USDC via the M0 Swap Facility (Uniswap V3 1bps tier) which routes through wM; redemption returns USDC by unwrapping USDat back to wM and burning the USDat. Only KYC-onboarded addresses can mint, redeem...
Is USDat safe?
Pharos does not mark USDat as absolutely safe. Static metadata says Saturn USDat uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Real-Time PoR from Saturn Protocol reserve analytics API (in-house, live same-day JSON of USDC/M/USDAT composition dominated by M0's $M; the previously recorded Accountable + Chainlink attribution is unsubstantiated - CSP and bundles show only the M0 stack and Chainlink CCIP messaging, no PoR vendor); the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs USDat?
Pharos classifies USDat backing as Real-World Asset Backed. Collateral, per the static profile: 100% backed by M (M0 Protocol's tokenized short-term U.S. Treasury bills) at launch — capital is held directly in the USDat smart contract and verifiable on-chain; protocol roadmap allows reserves to shift toward digital credit... Reserve evidence: Real-Time PoR from Saturn Protocol reserve analytics API (in-house, live same-day JSON of USDC/M/USDAT composition dominated by M0's $M; the previously recorded Accountable + Chainlink attribution is unsubstantiated - CSP and bundles show only the M0 stack and Chainlink CCIP messaging, no PoR vendor).
Can USDat be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for USDat, when applicable, appear in the dossier below.