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RWA-Backed sUSD Hits Stunning Milestone with 10M USDC Deposits in Just 1 Hour

Author: Content Editor
Solayer USD, a decentralized finance (DeFi) project in the Solana ecosystem, has launched the first synthetic stablecoin backed by real-world assets (RWA) on the Solana blockchain. The stablecoin, called sUSD, allows users to deposit stablecoins and generate yields associated with actual asset-backed value. Within just one hour of its launch, sUSD surpassed $10 million in deposits with nearly 5.9K deposits. The Solayer USD protocol aims to integrate the cryptocurrency market with the traditional finance system by offering a stablecoin collateralized by conventional financial instruments. The success of sUSD demonstrates the demand for stable assets in the DeFi community and the trust in RWA-backed stablecoins. The protocol provides security measures and transparency, ensuring that sUSD tokens are redeemable for USDC and reducing counterparty risk. The 4.33% annual yield on sUSD is also appealing to DeFi users and investors. The success of sUSD paves the way for the development of other RWA-backed stablecoins in the DeFi space.

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