Solayer Launches sUSD, a Stablecoin Backed by U.S. Treasury Bills

By UnichLabs | UnichLabs | 30 Oct 2024


Solayer, a pioneering platform in the field of Re-staking on Solana, has recently launched a stablecoin for staking activities on the Solana blockchain. This stablecoin is supported by U.S. Treasury bills.

On October 1st, Solayer officially launched the Solayer USD protocol (#sUSD), marking the first synthetic stablecoin backed by real-world assets (RWA). Now, anyone with $5 can access tokenized real-world assets, beginning with U.S. Treasuries, thanks to Solayer’s partnership with OpenEden Labs on Solana.

Launch Details:

  • Epoch 5 begins officially on October 30 at 7 AM PST (2 PM UTC).
  • sUSD Minting Cap: $20 million.
  • First $10,000 deposits receive a 10x boost.
  • Additional OpenEden compounding boost.

Core Principles:

  • Stablecoins, the most compelling PMF in crypto, need to be independent of traditional banking infrastructure.
  • Crypto must integrate real-world assets on-chain to achieve mainstream adoption.

#sUSD – A Fully Decentralized Stablecoin:

33f5085331b1cf476696942ff1598d44adc108b7af74c7bb3edef58b41d93c2f.png

  • Bringing real-world assets on-chain for secure and robust on-chain and off-chain systems on Solana.
  • The sUSD protocol operates as a non-custodial Request for Quote (RFQ) marketplace. Only holders can mint or redeem sUSD.
  • USDC deposits form a quote and, via our matching engine, are allocated to various eligible RWA tokens.
  • sUSD is then minted for users, with Solayer terming it an LRT (Liquid RWA Token) stablecoin, linked to a basket of tokenized RWAs.

sUSD Democratizes Access to Real-World Assets:

b8a9b9eb7e9736d74f15c312e7a4b65be76b1b00abdd5be245f6e0de6a4d4bf0.png

  • With as little as $5, users can access U.S. short-term Treasury Bills and, eventually, other low-risk RWAs like gold.
  • Instant convertibility to USDC makes sUSD highly flexible and user-friendly.
  • sUSD currently yields a 4.33% U.S. Treasury bill interest rate, paid in USDC.
  • No minting or staking is required, and balances grow over time.

sUSD – Security and Stability:

  • Like sSOL, sUSD is secured on the open internet, underpinned by real-world infrastructure designed as PoS collateral.
  • It secures off-chain systems that run parallel to Solana, such as bridges, oracles, and L2 networks.

Launch Partner: OpenEden Labs:

  • OpenEden is the first and only RWA tokenization firm rated by Moody’s.
  • Over $150 million in qualified institutional liquidity has been deployed via OpenEden on Ethereum.
  • OpenEden is offering incentives for sUSD depositors.

#cypherpunk meets #wallstreet

sUSD introduces a novel way to connect the real and digital worlds, allowing anyone, regardless of financial background, to access tokenized real-world assets. This development is a breakthrough for the future of decentralized finance.

How do you rate this article?

17


UnichLabs
UnichLabs

Unich is a pioneering blockchain company that enhances freedom for individuals and communities. Our core product is a decentralized trading platform for the Crypto OTC Market


UnichLabs
UnichLabs

Unich is a pioneering blockchain company that enhances freedom for individuals and communities. Our core product is a decentralized trading platform for the Crypto OTC Market

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.