What is dTRINITY?
dTRINITY (short for "DeFi Trinity") is the world's first subsidized stablecoin protocol—a new DeFi primitive designed to supercharge on-chain credit markets.The protocol features a suite of decentralized stablecoins (e.g., 
dUSD, 
dS)—each fully backed by exogenous, yield-bearing reserves. Unlike traditional models that reward passive holders or stakers on the supply side, dTRINITY redirects reserve earnings to stablecoin borrowers on the demand side—effectively paying users to borrow. This novel mechanism creates a higher supply-demand equilibrium, unlocking greater yields and capital efficiency for stablecoin users.
dUSD, dS)—each fully backed by exogenous, yield-bearing reserves. Unlike traditional models that reward passive holders or stakers on the supply side, dTRINITY redirects reserve earnings to stablecoin borrowers on the demand side—effectively paying users to borrow. This novel mechanism creates a higher supply-demand equilibrium, unlocking greater yields and capital efficiency for stablecoin users.What is dUSD backed with?
dUSD is fully backed by a non-custodial reserve of stablecoin and yieldcoins (e.g., frxUSD, sfrxUSD). Users can mint/redeem dUSD permissionlessly with a whitelisted reserve asset (e.g., 1 dUSD = 1 frxUSD). What is dS backed with?
dS is fully backed by a non-custodial reserve of Sonic (S) and S-based LSTs (e.g., stS). Users can mint/redeem stS permissionlessly with a whitelisted reserve asset (e.g., 1 dS = 1 S). What is the dT Points Program?
The incentivizes lenders and LPs to supply liquidity to designated markets in the dTRINITY ecosystem, enabling credit expansion and TVL growth. All points will be claimable for , the protocol’s future utility/governance token, upon the TGE.
What are the risks involved?
Digital assets and DeFi protocols like dTRINITY involve significant risks, including complete loss of funds, extreme volatility, and technical failures such as smart contract bugs or exploits. Leveraged strategies like yieldcoin looping can amplify gains but also magnify losses if the market turns unfavorably. Stablecoins used in the system are not risk-free and may face issues like de-pegging, regulatory scrutiny, or shifts in collateral value. Regulatory uncertainty could limit access to or suspend services in certain jurisdictions. Additionally, smart contract vulnerabilities may lead to unexpected behaviors, security breaches, or fund losses. The information provided on the dTRINITY website and associated user interfaces is for informational purposes only. Nothing contained herein should not be construed as legal, business, financial, or tax advice. Past performance is not indicative of future results. You should conduct your own research and consult with professional advisors before engaging with any DeFi protocol or digital asset. For more information, please refer to our .
How do subsidies work?
Subsidies are funded exogenously by yields from stablecoin collateral reserves. They are distributed to borrowers of protocol-issued stablecoins as interest rebates, which are claimed separately—not auto-applied toward debt repayment. Borrowers are still charged a gross Borrow APY on active debt.
How do dUSD and dS maintain stability?
dUSD and dS are fully backed by reserves, which means users can buy them when they’re trading at a discount on DEXs and redeem at par value. Conversely, users can mint new tokens at par to sell on DEXs when they’re trading at a premium. These natural processes allow users to capture arbitrage profits, restoring price stability for protocol-issued stablecoins. dTRINITY can also execute open market operations with protocol reserves to contract/expand the circulating token supply, stabilizing prices and capturing arbitrage profits in the process.
How can I enhance yield looping with dTRINITY?
Loopers of USD-denominated yieldcoins (e.g., sfrxUSD) can supply them as collateral on lending protocols to borrow dUSD and earn interest rebates. They can then swap the borrowed dUSD for more yieldcoins to repeat the loop. Thanks to interest rebates, loopers can amplify their strategies with cheaper access to leverage.
Loopers of LSTs like stS can follow a similar strategy by borrowing dS to earn interest rebates. In the future, dTRINITY will extend its subsidy model to ETH (dETH) and BTC (dBTC) as well, enabling the same benefits for mainstream LST loopers.
How do I maximize points and rewards with dTRINITY?
Both dUSD lenders and LPs can earn as well as ecosystem incentives. Large lenders, in particular, may be eligible for additional incentive boosts.
How do I transfer dUSD between supported chains?
dUSD is non-fungible across chains and cannot be bridged directly. Users can swap dUSD for an intermediary asset on one chain (e.g., Fraxtal frxUSD), bridge to another chain where dUSD is supported, and swap it for the native dUSD (e.g., Sonic dUSD). Cross-chain swaps for non-fungible dUSD variants can also be facilitated via CrossCurve.
Why subsidize borrowers?
Subsidizing borrowers lower their net Borrow APY, leading to more credit demand and utilization. This, in turn, raises the Supply APY for lenders, creating a win-win dynamic for both sides of the market.
Why do subsidies increase yields?
In classic economics, borrower subsidies shift the demand curve upward on the supply-demand chart, where the y-axis represents interest rates and the x-axis represents liquidity (credit supply). This upward shift means more subsidized borrowers are willing to borrow at higher rates, increasing credit utilization and debt expansion. As utilization rises, a higher supply-demand equilibrium is created. This results in higher yields for lenders, driven not by direct subsidies to them, but by stronger borrower demand (i.e., more economic activity).
Why don’t banks subsidize traditional loans?
Traditional banks and lenders are less likely to subsidize borrowers due to two main reasons:
- Regulated financial institutions are costly to operate and have less earnings vs. DeFi protocols at scale.
- Real-world assets used as collateral to secure loans (e.g., houses/mortgages) can be slower and costlier to liquidate, posing credit risk to traditional lenders. In DeFi, most loans are over-collateralized by liquid assets, providing faster recourse and less credit risk to lenders.
Why don’t other projects subsidize borrowers?
Most DeFi protocols follow a supply-centric model, rewarding depositors and liquidity providers while borrowers pay full interest. This mirrors traditional finance, where capital flows are optimized for lenders, not borrowers. Subsidizing borrowers is seen as unconventional, and many builders avoid it simply because it challenges deeply ingrained mental models.
Why is dUSD non-fungible across chains?
To isolate chain-specific risks and mitigate cross-chain contagion, dUSD reserves are segregated by network. This means each dUSD deployment maintains its own independent reserve to back the circulating supply on that network. As a result, dUSD tokens are designed to be non-fungible across chains (e.g., Fraxtal dUSD ≠ Sonic dUSD).
Where is dTRINITY deployed?
Where can I lend/borrow dUSD and dS?
dUSD and dS markets are available on , dTRINITY’s native lending protocol, as well as markets from third-party to earn . For user instructions, please refer to our .
Where can I trade dUSD and dS?
You can trade dUSD and dS directly through or utilize the Odos DEX aggregator to access optimized routing and exchange rates. For user instructions, please refer to our .
Where can I provide liquidity for dUSD and dS?
You can provide liquidity for dUSD and dS in to earn . For user instructions, please refer to our .
Where can users access dTRINITY?
dTRINITY is not available to residents of Belarus, Canada, Cuba, Haiti, Iran, Myanmar, North Korea, Russia (including Crimea), Somalia, South Sudan, Syria, the USA, the UK, Venezuela, and other prohibited jurisdictions.
When are subsidies paid out?
Subsidies (interest rebates) accrue constantly for dUSD and dS borrowers with active debt, but they must be claimed separately. The protocol mints new stablecoins periodically using at least 90% of reserve earnings during that period to subsidize its borrowers on lending protocols.
When did the project launch?
Development on dTRINITY started in early 2024. The protocol officially debuted on Fraxtal L2 on December 18, 2024.
When will dETH and dBTC be released?
dETH and dBTC are planned for release in late 2025 and early 2026.
When will community governance be implemented?
Governance will be decentralized post-TGE, allowing TRIN token holders to participate in protocol decision-making through vote-locking (i.e., veTokens model).
When is the TGE for TRIN?
The token generation event for dTRINITY’s utility/governance token is currently planned for the end of 2025.
Who are dTRINITY’s contributors?
The project’s contributors are stablecoin industry veterans since 2018, with core team members including the co-founders of Stably.
Who are dTRINITY’s backers?
Who are dTRINITY’s target users?
Advanced stablecoin and LST users who seek consistent access to above-market yields and below-market borrowing costs.
Who are dTRINITY target partners?
- DeFi and CeFi lending platforms: Export dTRINITY’s subsidized stablecoin model to other lending markets, unlocking new distribution channels.
- Decentralized exchanges: Strengthen on-chain liquidity for protocol-issued stablecoins through incentivized DEX pools.
- Interest rate marketplaces: Tokenize dTRINITY’s deposits into fixed and variable rate instruments on interest rate marketplaces, enabling advanced yield strategies for users.
- Other stablecoins: Work with other stablecoin projects to enhance yields and liquidity.
- Other LSTs: Work with other LST projects to enhance yields and liquidity.
- Yield aggregators: Integrate dTRINITY’s lending markets with aggregators to improve access, expand distribution, and optimize yields through automated vaults.
- Vault curators: Enable third-party risk-curated vaults for dTRINITY’s lending markets.
- Vote marketplaces: Post-TGE, enable governance vote markets to optimize protocol emission/subsidy distribution and strengthen ecosystem value for TRIN.
- And more!
Who are dTRINITY’s security auditors?
dTRINITY has engaged with multiple smart contract auditors, including Halborn, Cyberscope, and Verichains.