Introducing the world’s first subsidized stablecoin protocol, designed to reduce borrowing costs and enhance yields for stablecoin users.
As the name implies, dTRINITY 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 has been live on Sonic since May 2025, with follow-on expansions to Ethereum and other chains in Q3-Q4 ‘25. By year-end, a utility token will be launched to empower the dTRINITY community with governance rights over the protocol.
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 plans to launch 
dETH and 
dBTC as well. These decentralized stablecoins form one of the three core components of dTRINITY’s ecosystem.dTRINITY's stablecoins are demand-focused, meaning they don't distribute underlying yields to token holders and stakers. Instead, each stablecoin's reserve earnings are used to fund ongoing interest rebates for borrowers.
Interest rebates effectively lower net Borrow APYs, boosting credit demand and utilization, which also drives Supply APYs higher for lenders. LPs benefit, too, earning more fees from increased pool trading volume thanks to subsidy-driven credit velocity.
Lending 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. As a result of boosted demand and utilization—made possible by subsidies—Supply APYs on dLEND will rise to above-market levels, improving yields while reducing opportunity costs for lenders.
Decentralized Exchanges
DEX Partners like Curve enable liquidity pools for protocol-issued stablecoins. They are 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, other DEX integrations will be supported in the future to 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 Vaults
dSTAKE is a series of ERC-4626 vaults that allow protocol-issued stablecoins to be staked and lent automatically. These vaults are powered by dLEND, generating above-market yields thanks to subsidy-boosted utilization. They also earn points and rewards in addition to lending yields.
dSTAKE vaults unlock composability and secondary market liquidity for stakers/lenders via tradable receipt tokens, turning them into yield-bearing versions of dTRINITY’s stablecoins (i.e., yieldcoins). Users can then supply them as collateral or liquidity in other protocols to access further utilities.
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 highly efficient access to leverage.Loopcoins are akin to leveraged ETFs in TradFi. They help simplify the looping process for users through a one-click experience. Loopcoins can be supplied into other protocols as well.
Liquidity Vaults
dPOOL is a series of ERC-4626 vaults that automatically provide one-sided liquidity on DEXs for assets paired with dTRINITY’s stablecoins. These vaults help simplify the LP process for users while earning them yields from pool fees and rewards. Vault depositors also receive receipt tokens called "poolcoins," which can be traded or supplied into other protocols.