TL;DR
- Solayer launches sUSD, the first synthetic stablecoin backed by real-world assets on Solana, offering an annual yield of 4% to 5% without staking.
- Backed by U.S. Treasury Bills and created in collaboration with OpenEden Labs, sUSD guarantees stability and high security in its operation.
- The platform allows users to participate with a minimum of $5, democratizing access to the digital economy and facilitating the integration of tokenized assets.
Solayer has launched sUSD, the first synthetic stablecoin backed by real-world assets (RWA) on the Solana blockchain, a key advancement in the integration of cryptocurrencies with traditional financial infrastructure. This new digital asset allows users to earn an annual yield of between 4% and 5%, with payments made in USDC, without the need for staking processes or manual interventions.
The creation of sUSD was carried out in collaboration with OpenEden Labs, a tokenization platform that provides a high level of security and regulatory compliance. This stablecoin is backed by U.S. Treasury Bills, ensuring its stability and reliability.
1/ today, we unveil the Solayer USD (#sUSD) protocol
the first RWA-backed synthetic stablecoin
anyone with $5 can access tokenized real world assets, starting with U.S. Treasury Bill, now live on @Solana
in partnership with @OpenEden_Labs
> https://t.co/Oeu66HNOQd pic.twitter.com/TzkpSBM1Dz
— Solayer (@solayer_labs) October 29, 2024
Through a decentralized protocol known as Solayer RFQ (Request for Quote), sUSD connects USDC quotes with approved tokenizers, facilitating an automated minting, redemption, and matching process that optimizes the user experience.
One of the most notable features of sUSD is its accessibility. The platform allows users to participate with minimum amounts as low as $5, providing the opportunity to interact with tokenized assets that were previously out of reach for many. This democratizes access to the digital economy and enables users to take advantage of the potential of real-world assets.
Solayer Seeks to Democratize the Digital Economy
OpenEden, as a strategic partner, strengthens the liquidity of the stablecoin as it has $150 million in available funds, contributing to the stability of the system and allowing deposits to generate incentives in a decentralized environment. Additionally, the platform has been rated by Moody’s, ensuring its institutional solidity and the necessary trust to operate in the crypto market.
sUSD also acts as a collateral asset within the Proof of Stake (PoS) consensus mechanism on Solana, providing security to various decentralized applications, including layer two networks and oracles. This integration capability will reinforce Solayer’s position in the crypto ecosystem. Furthermore, it paves the way for future updates that could include diversifying sUSD’s backing with other low-risk assets, such as oil and gold.
The launch of sUSD will be key in promoting the use of cryptocurrencies. It will provide a bridge between the digital world and traditional assets, reaffirming Solayer’s commitment to facilitating equitable access to financial freedom through blockchain technology
