The largest DeFi liquidity staking protocol, Lido, has announced the launch of EarnUSD – the project’s first stablecoin vault – as part of the plan to unify the Earn product line, according to a Thursday announcement.
EarnUSD allows users to deposit stablecoins such as USD Coin (USDC) and Tether (USDT) into USD-denominated investment strategies on the Ethereum network. These strategies combine conservative lending positions with selective allocation to higher-yield strategies to generate stable profits.
According to Lido, the portfolio also includes higher-yield opportunities such as real-world assets (RWA) and structured financial products. When participating, users receive earnUSD tokens representing their positions and earn cumulative profits over time.
Marin Tvrdić, Head of Earn Partnerships at Lido Ecosystem Foundation, said stablecoins are a core component of DeFi, but Lido has not previously served this user group. The launch of EarnUSD aims to expand the product ecosystem to meet this demand.
Lido first introduced the Earn product line in September 2025 with the goal of enabling users to access advanced DeFi strategies directly on its platform. Initially, the protocol offered three themed strategies:
- Golden Goose Vault – focused on blue-chip DeFi assets
- DVV – leveraging Distributed Validator Technology
- stRATEGY – offering profit opportunities from the stETH ecosystem
This restructuring also aims to simplify the product lineup. According to Tvrdić, previous Earn vaults attracted nearly $250 million in deposits within just a few months.
In addition to EarnUSD, Lido has also launched EarnETH – a vault for ETH assets. Users can deposit ETH, WETH, or stETH to deploy into DeFi strategies on protocols like Aave, Uniswap, and Morpho. Similar to EarnUSD, participants will receive earnETH tokens capable of generating yields.
Tvrdić stated that after about six months of developing Lido Earn and attracting nearly $250 million in deposits, the new update will streamline the products into two main vaults: one for ETH and one for stablecoins.
To support the launch, Lido DAO will allocate $5 million from its treasury into Earn vaults and commit to covering losses in case of incidents.
Users of the GGV, DVV, and stRATEGY vaults are encouraged to upgrade to the new vaults.
Previously, Lido also deployed stVaults on the mainnet – a modular staking system unlocked after the Lido V3 upgrade, allowing third parties to build custom staking configurations for specific purposes.
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