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:
- 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:
- 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.