Introducing the world’s first subsidized stablecoin protocol, designed to reduce borrowing costs and enhance yields for stablecoin users.

As the name implies, dTRINITY (short for “DeFi Trinity”) consists of three key primitives:

A suite of decentralized stablecoins fully backed by exogenous, yield-bearing reserves

A decentralized lending protocol that offers subsidized stablecoin loans

External DEX liquidity pools for protocol-issued stablecoins

Additionally, tradable vaults for lending, looping, and liquidity provision strategies will be released to further simplify user experience, optimize yields, and enable advanced DeFi integrations.

dTRINITY first debuted on Fraxtal in December 2024. The protocol is also live on Sonic since May 2025, with follow-on expansions to Ethereum and other blockchains in Q3 and Q4 ‘25. By the end of the year, a utility token will be introduced to empower the community with governance rights over the protocol.

An overview of the dTRINITY ecosystem (note: dS is not shown for simplicity).

Core Components

Decentralized Stablecoins

dUSD is a USD-pegged stablecoin, fully backed by other USD-denominated stablecoins and yieldcoins. Similarly,

dS is a stablecoin pegged to Sonic (S), backed by S and S-based LSTs. In the future, dTRINITY will also launch

dETH and

dBTC. These stablecoins form one of the three core components of the dTRINITY ecosystem.

dTRINITY’s stablecoins are demand-centric, which means they don’t pay underlying yields to token holders and stakers. Instead, the yield from each stablecoin’s reserve is used to fund ongoing interest rebates for its borrowers. These rebates help lower their net Borrow APYs, boosting credit demand and utilization, which leads to higher Supply APYs for lenders as well.

Lending & Borrowing Protocol

dLEND is dTRINITY’s native lending protocol — powered by subsidized stablecoins. It is the second core component of the dTRINITY ecosystem.

Lenders can supply protocol-issued stablecoins to earn yield plus rewards. Borrowers can then supply various yield-bearing collateral assets to take out subsidized stablecoin loans.

Thanks to boosted demand and utilization — made possible by borrower subsidies — Supply APYs on dLEND will rise to above-market levels, improving yield while reducing opportunity costs for lenders.

Decentralized Exchanges

DEX Partners like Curve enable the deployment of liquidity pools for protocol-issued stablecoins— the final core component of the dTRINITY ecosystem.

Liquidity pools are vital in facilitating low-slippage swaps and efficient liquidation between stablecoins and other assets. LPs on DEXs can also earn pool fees on top of protocol rewards and third-party incentives for supplying liquidity.

In addition to Curve, integrations with other DEXs will be supported to further strengthen on-chain liquidity and unlock more yield opportunities for dTRINITY’s assets.

Other Components

Utility Token

TRIN is the future utility and governance token of dTRINITY. Prior to the TGE, lenders, liquidity providers, and community members are awarded dT Points via the

Points Program for their ecosystem contributions. During the TGE, all accrued points will be converted to TRIN, which will officially replace dT Points as protocol-native rewards.

Staking/Lending Vaults

🥩dSTAKE is a series of ERC-4626 vaults

Looping Vaults

dLOOP is a series of ERC-4626 vaults that offer automated yield looping strategies with tradable receipt tokens called "loopcoins." These vaults are powered by subsidized loans from dLEND, providing users with efficient access to leverage.

Loopcoins are akin to leveraged ETFs in TradFi. They simplify the looping process through a one-click experience while providing fungibility and secondary market liquidity to vault depositors. Loopcoins can also be supplied as collateral or liquidity into other DeFi protocols—including DEXs, lending protocols, and interest rate marketplaces.

Liquidity Vaults

💧dPOOL is a series of ERC-4626 vaults that automatically provide one-sided liquidity on DEXs for assets paired with protocol-issued stablecoins. These vaults generate earnings through trading fees and rewards from the integrated DEXs, dTRINITY, and third-party partners. dPOOL depositors also receive receipt tokens called "poolcoins," which can be traded or supplied into other DeFi protocols.