Protocol Integrations

Overview

$USH is designed as a DeFi-native asset from inception. An ERC-20 token, $USH integrates seamlessly with existing protocols while enabling new use cases that traditional real estate tokens cannot support. This composability transforms static real estate exposure into dynamic financial building blocks.

Lending Markets

$sUSH serves as the natural collateral asset across lending protocols like Euler and Term. As a yield-bearing token that auto-compounds, it maintains full earning potential while borrowed against:

• No opportunity cost: Continue earning staking rewards while using as collateral

• Positive borrow rates: Lenders still earn additional yield on top of $sUSH appreciation

• Capital efficiency: Access liquidity without sacrificing returns

• Clean liquidations: $sUSH's liquidity enables efficient unwinding

This mirrors successful patterns like stETH collateral — the yield-bearing version becomes the preferred DeFi primitive. Users can:

• Loop for leverage: Borrow stables against $sUSH, buy more $USH, stake, repeat

• Maintain exposure: Access working capital without exiting positions

• Optimize taxes: Borrowing isn't a taxable event

• Enhance returns: Deploy borrowed capital into complementary strategies

Conservative LTVs (50-70%) reflect the stability of underlying real estate while protecting both borrowers and lenders.

Yield Markets

Spectra Integration

Spectra's yield tokenization is compatible with $sUSH:

Principal Tokens (PT-$sUSH):

• Redeemable for $sUSH at maturity

• Provides fixed exposure to underlying $USH

• Trades at discount reflecting time value

Yield Tokens (YT-$sUSH):

• Captures all staking rewards until maturity

• Pure play on protocol yield generation

• Price reflects market's yield expectations

This separation enables:

• Fixed returns: Lock in rates by buying PT-$sUSH

• Yield speculation: Trade future staking returns via YT-$sUSH

• Capital efficiency: Sell future yield while keeping principal

• Market pricing: Discover true yield expectations

AMM Liquidity

Providing liquidity for $USH pairs opens additional yield streams beyond staking:

• Trading Fees: Earn fees on every swap through your position

• Points Program: Earn points for liquidity provision with multipliers for consistent participation

• Reduced Impermanent Loss: $USH's stable NAV minimizes IL versus volatile pairs

• Compounding Positions: Reinvest fees and rewards to grow LP holdings

Strategic considerations:

• Pair $USH with stables for minimal IL

• Concentrate liquidity near NAV for maximum fee capture

• Stack yields: LP fees + points + partner rewards

• Use automated position managers to maintain optimal ranges

For users seeking yield beyond staking returns, LP provision adds another layer of earning potential while supporting protocol liquidity.

Protocol Synergies

Stablecoin Collateral

$USH's characteristics make it ideal for collateralized stablecoin protocols:

• Predictable value (NAV-based)

• Low volatility

• Real asset backing

• Uncorrelated to crypto markets

Structured Products

Options and derivatives protocols can build sophisticated strategies:

• Income generation through covered calls

• Downside protection via puts

• Volatility harvesting

• Custom payoff structures

Portfolio Construction

Index protocols naturally incorporate $USH for:

• Real asset allocation

• Inflation hedging

• Yield generation

• Risk diversification

Integration Philosophy

The critical innovation of $USH is making real estate a permissionlessly composable financial primitive. For the first time, protocols can programmatically interact with real estate exposure without legal agreements, operational overhead, or geographic restrictions.

This transforms real estate from an isolated asset class into a building block for financial innovation. Any developer can incorporate American real estate into their protocol with a few lines of code. No partnership agreements. No special permissions. Just pure composability.

The implications extend beyond convenience. When real estate becomes truly composable, it can serve as:

• Collateral in lending markets

• Liquidity in trading pools

• Yield source in aggregators

• Building block in structured products

Each integration strengthens the ecosystem. More use cases create more demand. More demand deepens liquidity. Deeper liquidity enables more integrations. The flywheel accelerates.