Saturn, which previously received investment from YZi Labs, announced that its on-chain Total Value Locked (TVL) has officially surpassed $100 million, making it one of the few active projects during the recent bear market. They achieved this by purchasing preferred shares (STRC) of the Bitcoin reserve company Strategy, thereby offering on-chain users an annualized yield of 11.5%. Basically, it’s like turning Strategy into DeFi. The stablecoin backed by treasury bonds is called USDat, while the one backed by the yield from Strategy’s preferred shares is sUSDat. According to the official statement, during the previous private Beta round, companies including Flowdesk and Galaxy collectively deposited $10 million into sUSDat. They believe that as long as Bitcoin continues to appreciate in the long term, Strategy’s model can remain sustainable and generate returns based on this.