Description
The Standard operates an on-chain, non-custodial Smart Vault system that allows users to deposit a portfolio of crypto assets (such as WBTC, ETH, ARB, LINK, and PAXG) as collateral and borrow its native stablecoin USDs at 0% interest, provided a minimum 110% collateral ratio is maintained. Collateral deposited into a Smart Vault is automatically placed into Uniswap V3 concentrated liquidity pools, generating auto-compounding yield through trading fees while still backing the loan. Each Smart Vault is represented by a dynamic NFT reflecting live debt and collateral levels, which can be sold or transferred to another wallet, effectively allowing users to sell their debt/collateral position on NFT marketplaces. The protocol also features an automated debt-discount mechanism that pays down vault debt at a discount if USDs de-pegs below $1. Smart contracts have been audited by over 250 independent security auditors via Cyfrin/CodeHawks. The platform issues a governance/staking token, TST, and is described as part of the Chainlink Build program, with TheStandard DAO overseeing the protocol. It primarily targets individual crypto holders, DeFi yield farmers, and HODLers seeking passive yield and interest-free borrowing while retaining control of their private keys.