Solayer and OpenEden Launch Tokenized US Treasury Stablecoin sUSD with Participation Starting at 5
Solayer, a re-staking protocol on Solana, has recently partnered with OpenEden, a project focused on the tokenization of real-world assets (RWA) and U.S. treasury bonds, to launch the first yield-bearing stablecoin, sUSD, backed by “tokenized U.S. treasury bonds” on the Solana blockchain. Participation starts at just five dollars.
Solayer and OpenEden Launch sUSD
Solayer has collaborated with OpenEden to introduce the yield-bearing stablecoin sUSD on the Solana blockchain. Notably, sUSD is the first yield-bearing stablecoin backed by “tokenized U.S. treasury bonds” that Solayer plans to issue on Solana, allowing users to deposit USDC to participate in the issuance of sUSD. Currently, sUSD has a issuance cap of 20 million USD, and users can receive a 10x yield bonus for the first deposit of 10,000 USD. OpenEden is also offering additional rewards and incentives to encourage early participation in the issuance of sUSD.
Lower Entry Barrier for RWA Market Participation, Instant Minting and Redemption of sUSD
Solayer emphasizes that ordinary investors are unable to invest directly in U.S. treasury bonds with “small amounts,” and even after purchasing on exchanges, they lack convenient redemption channels. The purpose of issuing sUSD is to enable any investor interested in asset tokenization to participate in the market with a small amount (5 USD), breaking through the previous barriers that required significant capital. Moreover, users can instantly mint and redeem sUSD on the platform, with yields paid directly in USDC to sUSD holders.
Acquiring sUSD via RFQ Mechanism, Automatically Matching Qualified Tokenization Institutions
sUSD operates through Solayer’s Request for Quote (RFQ) protocol, a decentralized trading market pairing engine. This means users do not need to rely on multiple platforms or providers to obtain U.S. treasury bond yields. A single interface provides access to multiple RWA providers. Solayer states that using several RWA providers can diversify risk and effectively leverage the strengths of various suppliers to maximize yields. In this market, users can submit quotes in USDC, and the system will automatically match them with qualified tokenization institutions based on their quotes. These institutions are responsible for tokenizing U.S. treasury bonds (RWA) on-chain, thereby generating sUSD. Solayer also refers to sUSD as a Liquidity Real Asset Token (LRT), offering users the best rates and yields. All transactions are executed automatically via smart contracts, eliminating the need for third-party fund custody, ensuring transaction transparency and security, akin to an automated market maker (AMM), where anyone can provide liquidity.
Stable 4.33% Annual Yield, Similar to Bank Deposit Interest
Solayer indicates that users holding sUSD can enjoy a 4.33% annual yield without needing additional minting or staking procedures. sUSD leverages the SPL Token 2022 extension to support interest calculation over time, similar to bank interest calculation mechanisms, ensuring that sUSD can sustainably maintain a 1:1 value with the U.S. dollar and has an automatic adjustment feature.
Collaborating with OpenEden to Provide Additional Rewards
As a partner in the issuance of sUSD, OpenEden is the first RWA tokenization project to receive a credit rating from the international credit rating agency Moody’s. OpenEden has also deployed over 150 million USD in institutional funds on Ethereum as support. In this collaboration, OpenEden will provide additional reward measures for sUSD holders to enhance market participation.
(Binance Research: Overview of RWA Development Landscape, Understanding the Technical Risks and Limitations of Asset Tokenization)
