STBL is a stablecoin protocol based on risk assets (RWA) that uses a revenue segmentation mechanism to convert earnings assets into liquid and stable US dollar tokens. The minter deposits high-quality risky assets (RWAs), such as tokenized Treasury bonds or money market funds, to obtain USST as a stablecoin and retains a separate claim for income. This structure allows users to unlock and reuse their principal without giving up on their earnings—such as consuming or deploying USST (such as USDT/USDC), reinvesting other risky assets for compounded gains, or participating in a DeFi strategy—while, the protocol converts the growth of on-chain collateral into a scalable and liquid stablecoin supply.