Solayer and OpenEden have announced the launch of a yield-bearing stablecoin, sUSD, on the Solana blockchain. This stablecoin is backed by United States Treasury bills and is designed to be accessible to investors with modest capital, starting with as little as $5 in USDC. sUSD is the first of several tokenized real-world assets (RWAs) that Solayer plans to launch on Solana.
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
The sUSD protocol operates as a request for quote (RFQ) marketplace, where users deposit USDC and are matched with tokenized RWAs to receive sUSD, which Solayer refers to as a liquid RWA token (LRT). This allows users to access the benefits of real-world assets, such as stable yields and low risk, without having to invest large amounts of capital.
5/ sUSD protocol is a non-custodial Request-For-Quote (RFQ) marketplace – only owners can create or destroy sUSD
USDC deposits are created into quotes, and through our matching engine, is sent across different qualified RWA tokenizers
then, sUSD is minted back to the users
we… pic.twitter.com/RLOBhiMT9Y
— Solayer (@solayer_labs) October 29, 2024
Solayer, a Solana-based restaking protocol, has facilitated nearly $300 million in restaked total value locked (TVL) to date. OpenEden, a specialist in RWA tokenization, has extensive experience in tokenizing real-world assets and bringing them to the blockchain.
