Saturn Foundation said it is upgrading sUSDat to V2 and moving STRC reserves to Ondo’s STRCon, with reserves publicly verifiable on-chain. The foundation said users will not need to migrate or swap their sUSDat during the process. The rollout follows a dated schedule: on Sept. 25, Saturn will propose the upgrade and slow redemptions; on Sept. 28, it will begin transferring STRC and pause redemptions; on Sept. 30, it will execute V2 and propose the migration; on Oct. 2, it plans to execute the migration; and on Oct. 5, redemptions are expected to resume. Saturn also outlined time-based fees. From 9:00 a.m. to 4:30 p.m. Eastern Time, the system will run in normal mode with 0% minting fees and 0.1% redemption fees. Outside those hours, it will switch to boosted mode, with minting fees at 0.25% and redemption fees at 0.5%. Saturn added that the sUSDat vault will launch in boosted mode first, then return to normal mode after the migration is completed. All minting and redemption fees will be returned to the vault.
Saturn Foundation said it is upgrading sUSDat to V2 and moving STRC reserves to Ondo’s STRCon, with the reserves publicly verifiable on-chain.
The foundation said users will not need to migrate or swap their sUSDat.
Upgrade and migration timeline
- Sept. 25: Saturn will propose the upgrade and slow redemptions.
- Sept. 28: It will begin transferring STRC and pause redemptions.
- Sept. 30: It will execute V2 and propose the migration.
- Oct. 2: It will execute the migration.
- Oct. 5: Redemptions are expected to resume.
Fee schedule
Fees will vary by time window. From 9:00 a.m. to 4:30 p.m. Eastern Time, the system will operate in normal mode, with minting fees at 0% and redemption fees at 0.1%. Outside those hours, it will run in boosted mode, with minting fees at 0.25% and redemption fees at 0.5%.
Saturn also said the sUSDat vault will go live in boosted mode first and switch back to normal mode after the migration is completed. All minting and redemption fees will be returned to the vault.
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