What's the stUSD restaking vault on Nektar?
The Angle stUSD Restaking Vault on Nektar is a new DeFi product allowing users to earn yields on their stablecoins. By leveraging the Nektar restaking network and Enzyme’s battle-tested smart contract infrastructure, the vault offers multiple layers of rewards: depositors get staking & restaking rewards paid in Angle's stUSD. Participants also accrue points: Nektar Drops, as well as Angle Prots to be redeemed for ANGLE tokens at a later date!
How does it work?
You can already start participating by depositing USDC into the vault during the pre-launch of Nektar. You’ll earn the stUSD yield plus double points: Angle Prots and Nektar Drops.
Here’s how it works:
Deposit USDC or ETH into the vault
Conversion to stUSD: the deposited USDC are automatically swapped into stUSD
Earning rewards: users immediately start earning Nektar Drops and Angle Prots credits, alongside the yield from the stUSD stablecoin
Upon the launch of the Nektar protocol, the vault will take a significant step forward in its evolution by introducing the restaking mechanism:
stUSD to ETH swap: the stUSD held in the vault is swapped for ETH
Restaking on Nektar: the swapped ETH is restaked on the Nektar protocol
Continuous rewards: users earn rewards on ETH in the form of restaking rewards paid out in stUSD stablecoin yield-generating stablecoin
anglETH as new LRT on the block
The innovative restaking mechanism maximizes the potential for earnings by swapping stUSD for ETH and restaking it on the Nektar Network.
When depositing into the vault, users get a receipt token — anglETH — representing the share of the vault they hold, based on the amount they deposited.
Want to exit the vault? Users just have to redeem their anglETH and get their share of what's inside the vault paid in stUSD during phase 1, and paid with a mix of stUSD and ETH in phase 2.
Deposit today and get anglETH LRT →
Why participate?
Stablecoins are good, but yield is even better!
The Angle stUSD Restaking Vault on Nektar offers several compelling reasons for users to participate:
Diversified earning potential: by earning multiple types of rewards — from Nektar Drops to restaking rewards paid in stUSD — users can maximize their returns.
Stablecoin security: restaking rewards paid in stUSD provide the stability of a yield-bearing stablecoin.
Innovative mechanism: the restaking of ETH introduces a dynamic layer of earning potential, enhancing the traditional staking rewards.
Peace of mind: leveraging the Enzyme protocol as a battle-tested infrastructure for the vault gives users the confidence of a solid setup; and the Angle dev team can focus on further integrations.
The launch of the Angle stUSD Restaking Vault on Nektar represents a significant advancement in the DeFi space, providing users with an innovative way to earn rewards on USDC, leveraging restaking mechanism. Your stablecoins have never worked harder for you!
Deposit USDC now and get your anglETH LRT today! →
Please note that the Angle stUSD Restaking Vault runs on the Enzyme protocol and will leverage its integration with the Nektar Network.
About Angle Protocol
Angle is a DeFi Protocol specializing in building resilient stablecoin infrastructures. The Protocol’s main products are USDA, the most reliable USD stablecoin, and EURA (formerly agEUR), the most traded Euro stablecoin. Known for its innovative stablecoin mechanisms and reliability, Angle is ranked among the safest DeFi protocols on DeFiSafety. Backed by Andreessen Horowitz (a16z), Angle operates as a Decentralized Autonomous Organization (DAO), ensuring community-driven governance with its veANGLE token used for voting governance proposals. Angle Labs, the main contributor to Angle Protocol, also powers Merkl, a platform enabling foundations, DAOs, and protocols such as Arbitrum, Uniswap, or Aave to create tailored and efficient on-chain incentive programs to optimize their liquidity and growth.
About Nektar
Nektar Network is a multilayered restaking network powered by DVT implementing a comprehensive incentives system for its participants. Nektar Network has four layers that extend crypto economic security of the Ethereum network to additional applications: The Stinger Client, The Diva Staking Protocol, the Nektar Restaking Protocol and the Nektar’s marketplace.
About Enzyme
Enzyme is a protocol for smart, tokenized wallets designed to accelerate project outcomes and facilitate on-chain asset management. It enables access to digital assets and DeFi from one simple, unified app. It provides a front-to-back execution and order management system, which fully automates reporting, risk management, administration, governance and operations.
