➤ EARN Holders
Learn how EARN distributes USDS yield and where it sits in ETH Strategy.
EARN is a token for holders seeking USDS income. Holders stake EARN in the on-chain staking contract to receive USDS rewards. Start with the mechanics, then review how to receive distributions and the risks involved.
Status: Live — EARN and the sEARN staking contract are deployed on Ethereum mainnet. Addresses are on the Contracts page.
Your Reading Path
What is EARN? — the token and its role.
How Yield Works — USDS distributions and the first-year target.
Supply and Issuance — how supply relates to treasury leverage needs.
Buying and Selling EARN — access through the EARN/USDS pool.
Key Risks — payment, liquidity, stablecoin, and contract risks.
Already Hold ESPN?
See Existing ESPN Holders for the airdrop and legacy-holder arrangements.
NOTE: As of September 25, 2026, legacy ESPN has been deprecated. All ESPN holders have been airdropped EARN, which is the new yield product
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