What is USDf, and what role does it have at @FalconStable? USDf isn’t a “normal” stablecoin. It doesn’t rely on banks or fiat reserves. Instead, every USDf is minted against collateral: BTC, ETH, SOL, stablecoins, and even tokenised treasuries. Volatile assets require extra margin, making the system overcollateralized by design. That structure lets Falcon do two things at once: 1. Keep the peg stable through hedging, arbitrage, and liquidation mechanisms 2. Put the capital to work through yield strategies like RWA integrations, staking, and arbitrage Users can stake USDf into sUSDf to earn ~10% APY today (higher with lockups). That yield comes from DeFi markets, not only inflationary rewards. The numbers show how fast it’s grown: > $1.2B USDf in circulation since April 2025 > $250M+ total value locked > Integrated across Curve, Uniswap, Balancer, Pendle, Morpho, and more Inside Falcon’s ecosystem, USDf is the backbone. It’s the unit of account, the liquidity layer, and the engine for yield. Institutions use it for treasury management and compliant onchain access. Retail users use it as a stable dollar with built-in yield. They built a collateral system where any liquid asset can back a dollar that stays stable and generates returns.