- $sUSD on Solana offers 4% yield, allowing users to earn passive income securely backed by Treasury Bills.
- Solayer Labs’ $sUSD stablecoin integrates OpenEden, enhancing security with Moody’s-rated tokenized assets.
- $sUSD serves as collateral in Solana’s ecosystem, supporting DApps, bridges, and decentralized finance protocols.
Solayer Labs has unveiled $sUSD, a new stablecoin on Solana designed to generate passive income backed by U.S. Treasury Bills. This unique asset allows users to earn approximately 4% interest in $USDC without the need for staking or manual interventions, creating a streamlined and accessible experience.
Through its decentralized protocol, $sUSD operates as a marketplace engine, seamlessly connecting users with $USDC quotes and approved tokenizers.
Automated Yield with Secure Stability
Solayer’s $sUSD system is fully automated, handling the minting, redemption, and matching processes to ensure efficient and decentralized transactions. Users deposit $USDC, which the protocol routes toward U.S. Treasury Bill purchases. In return, users receive $sUSD pegged 1:1 to $USDC.
By leveraging Treasury Bills as secure, short-term government debt, the stablecoin maintains a stable value while delivering a steady yield. Solana’s account model also plays a vital role, adjusting a multiplier on $sUSD holdings to reflect earned interest, allowing balances to grow automatically similar to a high-yield savings account.
Integration with OpenEden Enhances Security
To strengthen its appeal and security, $sUSD integrates OpenEden’s tokenized Treasury Bill platform, rated by Moody’s, ensuring institutional-level oversight. OpenEden provides a pool of liquidity valued at $150 million, further supporting $sUSD’s stability.
The platform’s decentralized nature also allows for real-time growth in user balances at an annual yield between 4% and 5%, making it a competitive alternative to traditional finance products.
Beyond its passive income potential, $sUSD also serves a broader function in Solana’s ecosystem. The stablecoin acts as collateral for various Proof of Stake (PoS) applications, including DApps, bridges, and oracles, securing Solana’s infrastructure.
Moreover, Solayer’s incentive program offers an exclusive 10x yield boost on the first $10,000 deposited during the initial minting phase which began on October 30.
Future Expansion and Long-Term Vision
Solayer Labs plans to expand $sUSD’s backing with a diversified asset pool, including commodities such as oil and gold. This approach aims to further bridge the gap between traditional finance and DeFi, broadening adoption and stability on Solana’s platform.
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