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Outrun
Yield Tokenization

OutStake

A yield tokenization and stablecoin module built entirely around yield-bearing assets with higher capital efficiency.

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Key Features

Novel Staking Model

Controls yields generated by yield-bearing tokens and unlocks liquidity of staked assets with an eternal lifecycle for enhanced token utility.

  • Novel design different from market
  • Unlocks liquidity of staked assets
  • Eternal lifecycle with no expiration dates

Enhanced Composability

Standard ERC20 tokens with no expiration dates allow for seamless integration with other DeFi protocols and applications.

  • Freely integrated into other DeFi protocols
  • Shared liquidity across yield-bearing tokens
  • Powerful network effect ecosystem

Multiple Income Streams

Earn from both yield generated by deposits and additional income from trading YT tokens correlated with yield rates.

  • Higher returns than other protocols
  • YT value tied directly to yield rates
  • Fixed yield rates through SP tokens

Omnichain Capability

Universal Principal Token (UPT) enables seamless transfers across different blockchains through LayerZero integration.

  • Cross-chain asset transfers
  • Amplified network effects
  • Shared liquidity across blockchains

Flexible Staking Duration

Users can freely select staking duration, controlling the amount of PT minted and making position expiration time a tradable asset.

  • User-controlled staking periods
  • Tradable staking positions (SP)
  • No forced lock-up periods

Omnichain Stablecoin

An Omnichain Stablecoin fully collateralized by yield-bearing assets, requiring no interest payments, providing higher capital efficiency.

  • Unlock liquidity for yield-bearing assets instantly
  • No interest payments requiredn
  • Earn more yields through composability

How OutStake Works

1

Deposit Assets

Users deposit yield-bearing tokens (like stETH, RWA) or underlying assets (like ETH) into the OutStake protocol.

stETH
RWA
Stablecoins
Example: Deposit 10 stETH that's already earning ~3% APR on Lido
What are yield-bearing tokens?

Tokens that generate yield or have potential yield. Examples include stETH(Lido), sUSDE(Ethena), Stone(StakeStone), and LP tokens.

2

Standardize Yield (SY)

The protocol wraps yield-bearing tokens into Standardized Yield (SY) tokens based on the ERC5115 standard, providing a unified interface for all yield-bearing tokens. This process happens automatically behind the scenes.

wstETH→SY-wstETH
Example: 10 wstETH is wrapped into 10 SY-wstETH
What is SY?

SY is a vault token based on the ERC5115 standard designed to encapsulate yield-bearing tokens. It provides a standardized interface for interacting with any yield-generating mechanism.

3

Stake & Lock SY Tokens

Users stake their SY tokens and specify a lock-up period. This process mints three types of tokens, each representing different aspects of the yield-bearing token.

SP

Staking Position

YT

Yield Rate Token

SY sUSDe→SP sUSDe+YT sUSDe
Example: 10 SY sUSDe with a 100 days lock generates 12(Based on the exchange rate relative to the accounting asset) SP sUSDe, 1000 YT sUSDe
SP (Staking Position)

Represents the redemption right of the principal for a locked position upon maturity. Can be split into UPT.

YT (Yield Rate Token)

Represents ownership of all yield generated by the underlying assets. Has no expiration date, unlike other protocols.

4

Split SP into UPT and non-transferable SP

Users can split their SP tokens into UPT. This operation makes the original SP non-transferable but does not destroy it, allowing it to still be tracked.

SP wstETH→UETH+SP wstETH(NonTransferable)
What is SP?

SP represents the principal redemption rights for locked positions upon maturity. Holders can sell it, effectively enabling an "early redemption" operation, while buyers can obtain fixed-rate returns based on their purchase price.

5

Higher yields and capital efficiency

Users can now benefit from multiple income sources, each with different risk and return profiles.

Boosted Interest Rates

Lock in higher interest rates through YT and avoid subsequent rate fluctuations.

Trade SP tokens

Get fixed-rate returns before maturity by trading SP tokens on the market.

Leveraged staking instead of looped lending

Achieve leveraged staking through UPT with no liquidation risk and 0% interest rate.

OutStake's Unique Advantage

Compared to other yield tokenization protocols, OutStake offers greater composability, flexibility, liquidity, and capital efficiency, enabling higher returns for users.

UPT is not only an omnichain universal principal token split from the SP token but also the omnichain stablecoin of the Outrun ecosystem. UPT aims to be a cornerstone of DeFi, bringing ultimate capital efficiency to the Outrun ecosystem.

OutStake Token Ecosystem

SY

Standardized Yield

SY is a vault token based on the ERC5115 standard designed to encapsulate yield-bearing tokens, providing a unified interface.

Key Features
ERC5115 StandardUnified InterfaceEncapsulates Yield
SP

Staking Position

SP represents the principal redemption rights for locked positions upon maturity. Holders can sell it, effectively enabling an "early redemption" operation, while buyers can obtain fixed-rate returns based on their purchase price.

Key Features
Fixed RateERC6909Redeemable
YT

Yield Rate Token

Represents ownership of all yield generated by the yield-bearing assets. YT's value increases over time as the yield pool accumulates.

Key Features
Yield CorrelatedNo Expiration
UPT

Universal Principal Token

UPT is not only an omnichain universal principal token split from the SP token but also the omnichain stablecoin of the Outrun ecosystem. UPT aims to be a cornerstone of DeFi, bringing ultimate capital efficiency to the Outrun ecosystem.

Key Features
OmnichainStablecoinCapital Efficient

Ready to Start Earning with OutStake?

Join the OutStake protocol today and start earning higher returns with our innovative yield-bearing token model.