Staked Forest Road USDfr SUSDFR

sUSDfr (Staked Forest Road Dollar) is the ERC-4626 vault share of Forest Road Vault, an on-chain credit protocol on Ethereum. USDfr, a dollar token minted 1:1 against USDC by KYC-verified addresses, can be deposited into the vault in exchange for sUSDfr. The value of each sUSDfr in USDfr rises as interest accrues on identified loans originated and serviced by The Forest Road Company, net of protocol fees, and can fall if a credit loss exceeds the curator first-loss capital and sGROVE backstop that absorb losses first. Each loan is represented by an on-chain Loan NFT that mints only after its required attestations are recorded. sUSDfr is redeemed for USDfr through an on-chain queue with a 21-day minimum hold.