sUSD is the first RWA-backed synthetic stablecoin created in partnership with OpenEden Labs.
Author: Solayer
Key Takeaways
- sUSD is the first yield-bearing stablecoin on Solana, offering a 4-5% annual yield.
- The stablecoin is backed by US Treasury Bills and leverages the OpenEden platform for enhanced security.
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Solayer Labs has launched sUSD, the first yield-bearing stablecoin on Solana backed by US Treasury Bills.
sUSD enables users to earn approximately 4% in interest, paid directly in USDC, without staking or manual processes.
Using a decentralized protocol, sUSD functions as a marketplace engine, connecting USDC quotes with approved tokenizers.This fully automated protocol manages minting, redemption, and matching procedures ensuring efficient, decentralized operations for users.
Through Solayer’s system, users deposit USDC, which is routed to purchase Treasury Bills, and receive sUSD in return.
This setup maintains a 1:1 peg, leveraging the stability of Treasury Bills as secure short-term government debt.
Due to Solana’s account model, sUSD adjusts a ‘multiplier’ on holdings to reflect interest, enabling balances to grow automatically at an annual yield of 4-5%—similar to a bank account.
sUSD’s marketplace leverages OpenEden, the first tokenized RWA platform rated by Moody’s, ensuring institutional-level security and oversight.
Currently backed by $150 million in liquidity, OpenEden further strengthens sUSD by allowing deposits to earn incentives on a decentralized platform.
The stablecoin also serves as a Proof of Stake (PoS) collateral asset, securing Solana’s decentralized applications, including layer-two networks, bridges, and oracles.
Solayer plans to expand sUSD’s backing with a basket of low-risk assets, including real-world instruments like oil and gold in future updates.
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