USCC Yield Layer

USCC Yield Layer Overview

The “yield layer” for USCC is defined by CIAN as a virtual layer that consolidates, reorganizes all the secure and sustainable yield sources across the entire crypto into structured yields, and redistributes the yields to on-chain asset holders. The objective is to empower sustained growth of USCC on-chain liquidity and TVL leveraging yield sources across the entire crypto space. CIAN's yield layer offers sustained competitive advantages by excelling in yield source consolidation, innovative yield strategy design, and decentralization.

USCC Recuesive Staking Stategy in USCC Yield Layer

Strategy Workflows

• Convert all deposited USDT, USDC, DAI, and USDS into USCC.

• Supply all USCC as collateral to the AAVE Horizon RWA market.

• Borrow USDC at a target loan-to-value (LTV) of 66.66%.

• Convert the borrowed USDC into USCC and re-supply it to the AAVE Horizon RWA market, looping until reaching approximately 3x leverage.

USCC Overview

The Superstate Crypto Carry Fund (the "Fund") offers Qualified Purchasers access to crypto basis (differential between the spot and future price) strategies. The Fund optimizes the yield and risk of crypto cash-and-carry trades across the Bitcoin basis, Ether basis (including staking Ether), Sol basis (including staking Sol), and U.S. Treasury securities. Ownership in the Fund is recognized by USCC, held either as a token or in book-entry record keeping. Subscriptions and redemptions are facilitated through USD or USDC, with liquidity each market day.

USCC Interest accrual

USCC works in a similar way to Lido's wstETH. You are minted a static amount of tokens and your token balance stays the same unless you mint, burn, or transfer. The NAV increases over time, allowing you to redeem a share of USCC for an increasing amount of U.S. Dollars or USDC.

Learn more:

USCC Fundsuperstate.com

Risks

• Smart contract risks: Unknown smart contract risks associated with both CIAN and protocols incorporated in the yield layer

• Liquidation risks: Leverage increases the risk of liquidation (but liquidation protection mechanism has been built into the products)

Safety

• Multi-Signature for Fund Allocation and Parameter Adjustments: Changes of fund distribution and parameters requires multiple approvals, safeguarding the decision-making process and smart contract’s security.

• Complete Contract Implementation for Strategies: Employs full contract implementations for strategies instead of signature filters, enhancing both security and transparency.

• Exchange Rate Limitations: Enforces strict internal limits on exchange rates to protect funds during transactions.

• Rebalance Mechanism: The Rebalance Mechanism will be triggered when the LTV reaches 66.66%. This additional safeguard is implemented as a proactive measure to mitigate the risk of potential liquidation events, ensuring greater stability and protection for users in volatile market conditions\

Transparent and Secure Governance

CIAN uses a transparent and secure governance model to manage the yield layer:

• Transparency: All strategies are implemented & executed through smart contracts, meaning every action is fully visible and verifiable by the community.

• Flexibility: Our system is designed to quickly incorporate new strategies and adjust existing ones. Changes can be made swiftly and transparently, with a governance process that allows for community control through veto voting.

• Security: The open nature of our strategies ensures they can be reviewed and audited by the community, minimizing risks and building trust.