A tutorial demonstrates building a rebasing token (RUSD) on the Stellar blockchain that accepts USDC deposits and automatically accrues yield by increasing holders' balances. The token uses a share-based system where added collateral, simulating yield from protocols like Blend, proportionally boosts all users' balances without needing to stake or interact further. Users can hold RUSD in their wallets and watch balances grow in real-time.
The video tutorial walks through creating a yield-bearing stablecoin called RUSD on Stellar Testnet using Soroban smart contracts. Users deposit USDC into the RUSD contract at a 1:1 ratio to mint rebasing tokens, whose balances automatically increase as yield accrues—demonstrated by sending additional USDC to the contract, simulating returns from Blend Protocol's yield pools. The implementation overrides standard token balance functions to calculate live shares of the underlying USDC collateral, ensuring fair proportional distribution. Transfers update shares dynamically, and mint/burn functions maintain the peg. The open-source code on GitHub uses SoarBound SDK and OpenZepton library, with deployment scripts for Stellar Testnet. Holders enjoy a seamless UX by simply holding RUSD in wallets like Crytek's Stellar Wallet Kit, without needing dApps. The tutorial includes testing, deployment, and links to further Stellar developer resources.