USX Stablecoin to Bring Passive Income Opportunities to Solana Network

Yield-Bearing Stablecoin to Be Introduced by Solstice Labs on Solana

This summer, USX, a new synthetic stablecoin, will be introduced by Solstice Labs with assistance from cryptocurrency venture capitalist Deus X Capital. In addition to the stablecoin, the business plans to introduce a native staking mechanism on Solana. The news was announced on Monday by Solstice Labs. Growing enthusiasm in creating more robust investments on the Solana network is demonstrated by this action. 

Solana's blockchain supports more than 5% of the $238 billion stablecoin supply, according to DefiLlama analysis. In spite of its size, Solana does not have a sizable fiat-pegged coin designed for passive income. Solstice Labs noticed this disparity. For customers looking for dependable value and consistent returns, they believe USX may be the missing component. Up until now, Solana's stablecoin scene hasn't placed as much attention on making money.

The goal of USX is to provide delta-neutral returns. This implies that slight fluctuations in the value of the underlying assets won't have a significant impact on the portfolio's overall worth. To enable real-time yields, Solstice Labs will employ staking-based and arbitrage-based tactics. Additionally, they intend to maintain complete reserve backing for the USX stablecoin. The two biggest stablecoins issued by Tether and Circle, USDT and USDC, will be used as collateral for USX. The stability and dependability of USX will be maintained for users with this setup.

Additionally, USX holders will have access to Solstice's YieldVault. YieldVault, a onchain technology that has successfully locked $100 million in total value, is the investment of Deus X Capital. With YieldVault, customers may generate returns without navigating complex DeFi strategies. Retail and institutional users will have access to YieldVault and USX. The goal of Solstice Labs is to make real income opportunities available to more investors.

Today, DeFi data is sometimes confusing or only accessible by large enterprises, according to Solstice Labs CEO Ben Nadareski. "That was the goal of USX," he explained. It is intended to be open, transparent, and simple to use. Regular customers will now have access to chances that were previously outside their reach thanks to USX. The probable future of decentralized money on Solana lies in products that are easy to use and understand,” Solstice Labs stated.

Source: X

Background on Solstice Labs and Deus X Capital

In September 2024, following the Solana Breakpoint meeting, $1 billion digital asset investor Deus X Capital founded Solstice Labs. For serious investors, Solstice Labs was presented as a developer of superior DeFi product packages. Since then, the business has grown rapidly. Solstice Staking AG will be one of the new products that USX and YieldVault will offer. Over $1 billion in assets are managed by Solstice Staking AG. This expansion followed last December's acquisition of Swiss-based Bridgetower Capital GmbH by Solstice Labs. Through the acquisition, Solstice Labs was able to expand its market reach and fortify its position in the DeFi industry.