@ stbl_official has posted a new blog to provide a detailed explanation of AmericaT and YLD. It is still a lengthy English article, and I know that many people are not willing to read it. I will write a concise and non nonsense version for everyone! one ️⃣ How to cast AmericaT I need to go to Bybit to buy USDY. After checking the mainstream CEX, only Bybit has it Use USDY as collateral, deduct approximately 0.4% of the fee, and finally distribute it to you via USST two ️⃣ How does USDY appreciate? USDY adopts a non rebasing mode, where the interest income generated by underlying assets (such as US bonds) is automatically reinvested into the fund, accumulating in the token price itself, ultimately leading to a continuous increase in price three ️⃣ YLD/delta (when the collateral value is greater than the issued AmericaT value, the difference is called "delta") Simply holding USD requires selling in order to earn profits In STBL, the protocol will periodically extract this delta from the vault and transfer it to the YLD contract. After deducting the protocol fee, it will be distributed proportionally to each holder When users want to redeem, they will burn the corresponding USST and send the accumulated profits to the users (distributed in USD) This structure of separating principal and income is more convenient and secure for users