StandX is launching SIP-3 this time, which I believe is a very important step within the DUSD ecosystem. @StandX_Official

In simple terms, SIP-3 will directly transfer a portion of the net trading fees from StandX Perps into the DUSD yield pool. That is to say, the sources of DUSD's returns are no longer just the original market-neutral strategies and SIP-2 position incentives, but also an additional protocol income from real trading activity.
Currently, DUSD has basically formed a "triple yield" framework:
The first layer is basic income, coming from spot staking and market-neutral strategies like short perpetual funding fee arbitrage;
The second layer is SIP-2, where users can earn extra returns when using DUSD as collateral for Perps;
The third layer is SIP-3, which distributes Perps trading fees to DUSD holders.
Most importantly, SIP-3 does not require additional staking or manual operations. As long as you hold DUSD, whether in on-chain wallets, DEX LPs, or as Perps collateral, you can automatically participate in the distribution.
This is what I find interesting: the returns are not driven by inflation issuance, but are linked to the platform’s real trading volume.
The more active the Perps trading, the higher the fees, and the thicker the DUSD yield pool; DUSD yields become more attractive, which may also lead to more minting and liquidity, further supporting Perps depth.
This creates a relatively clear flywheel.
Of course, DeFi yield products must be aware of risks, including smart contract risk, strategy execution risk, and market trading volume volatility. But from a mechanism design perspective, SIP-3 indeed makes DUSD more like a yield-bearing stable asset that can capture protocol growth dividends.