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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.