New stablecoin on Solana network will generate income up to 5% per annum

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HappyCoinNews2024/10/31 04:11

By:HappyCoinNews

New stablecoin Network Solana (SOL) under the name Solayer USD (sUSD) will bring income of up to 5% per annum.

Solayer USD was developed by the Solayer cryptocurrency restaking protocol and OpenEden, a company that specializes in the tokenization of traditional financial assets. The stability of the Solayer USD rate, pegged to $1, is secured by US Treasury securities, so owners of these coins will earn passive income in the form of USD Coin (USDC) stablecoins.

Solayer USD is a decentralized stablecoin , in this regard, the process of its release involves blocking USDC on the platform of one of the liquidity pool partners, operating on the basis of the Request for Quote protocol. To issue sUSD, it is necessary:

Open the Solayer application;
Make a deposit in USDC;
Specify the address of the crypto wallet to receive sUSD.

New stablecoin on Solana network will generate income up to 5% per annum image 0

Scheme of circulation and use of Solayer USD

The USD Coin staking feature in exchange for Solayer USD will become available on October 30 at 17:00 Moscow time. Initially, sUSD coins will bring their owners an income of 4,33%, while APY can fluctuate in the range of 4% to 5% per annum. In addition, in the future, buyers of stablecoins will be rewarded with digital assets for transferring locked coins to blockchain validators cooperating with decentralized financial services.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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