Solstice Labs, backed by the billion-dollar firm Deus X Capital, is launching USX, a new stablecoin built for the Solana blockchain. This isn’t just any stablecoin; it’s designed to give users easy access to high yields.
High Yields, Made Easy
USX will launch this summer alongside a yield protocol boasting over $100 million in committed funds. This means users can earn competitive returns through automated trading strategies, all without the usual complexity. The stablecoin’s value is pegged to the dollar using a 1:1 collateralization of other stablecoins like USDC and USDT. Solstice’s YieldVault will let users lock up their USX to automatically earn these yields. They’re boasting an impressive 19.2% average annual return over the past year, protected by an insurance fund.
Ben Nadareski, Solstice Labs CEO, explains, “DeFi yields are often complicated and only accessible to big players. USX changes that by offering simple, transparent, and sustainable yields to everyone.”
Filling a Solana Gap
Solana’s stablecoin ecosystem is booming, but it’s lacked a dominant, yield-focused native stablecoin. USX aims to be that coin, taking advantage of Solana’s speed and efficiency. The team believes USX will attract more capital to the Solana network. It’s already partnering with various firms to ensure smooth operation across both centralized and decentralized exchanges.
The Solstice Team
USX is part of the Solstice umbrella, which includes Solstice Staking, a major player in the staking world, managing over $1 billion in assets and boasting 99.99% uptime. This experience shows their commitment to stability and reliability.
Launch and Next Steps
USX will launch this summer, with early access opportunities coming soon. You can find updates on the Solstice Labs website or follow them on social media. The team will be at Token2049 in Dubai this week.
About Solstice Labs and Deus X Capital
Solstice Labs, a Deus X Capital company, is focused on modernizing on-chain asset management. Deus X Capital is a major investment firm with over $1 billion in assets under management, specializing in fintech and digital assets.