Senior Tranche--$ULSD

$ULSD, which is split from the underlying asset based on the Structured LSD protocol, represents the senior tranche of the underlying asset, and will continuously earn a fixed interest rate that is not affected by market fluctuations.

The nature of $ULSD is to lend funds to $ETHy holders for investment purposes and collect fixed interest in return. Both the principal and interest of $ULSD are guaranteed by the underlying asset pool.

$ULSD perpetual interest rate serves as an interest rate adjustment parameter similar to those in traditional banking systems and is initially set by the Structured LSD team and later fully determined by the community governance.