CandleFocus ? Solayer launches first-ever yield-bearing stablecoin backed by T-Bills on Solana
2024-10-29
Author: Content Editor
Solayer Labs has launched sUSD, a yield-bearing stablecoin on the Solana blockchain. sUSD allows users to earn approximately 4% interest, paid in USDC, without staking or manual processes. The decentralized protocol connects USDC quotes with approved tokenizers, managing minting and redemption procedures. Users deposit USDC, which is used to purchase US Treasury Bills, and receive sUSD in return. sUSD maintains a 1:1 peg to the US dollar and adjusts holdings to reflect interest. The stablecoin is backed by $150 million in liquidity and is also used as collateral for Solana's decentralized applications. Solayer plans to expand sUSD's backing with additional low-risk assets in the future.
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