Solomon (SOLO)

Solomon (SOLO) is a next-generation stablecoin designed to elevate the concept of digital cash by providing users with the opportunity to earn yield while maintaining a stable value. Unlike traditional stablecoins that may lack yield-generating capabilities, Solomon is built on the Solana blockchain and integrates a market-neutral basis strategy to deliver an impressive annual percentage yield (APY) of 17.5%. Each Solomon dollar, known as USDv, is fully backed 1:1 by assets held in institutional-grade custody, such as cash, basis trade positions, and upcoming Treasury bills, ensuring reliability and security for users.

The innovative Yield-as-a-Service (YaaS) feature allows various entities like liquidity providers, decentralized autonomous organizations (DAOs), treasuries, and neobanks to tap into the earning potential of idle USDv balances seamlessly. This infrastructure facilitates a user-friendly experience while optimizing earnings, preserving the existing infrastructure of utilized applications. By allowing USDv holders to stake their assets easily, Solomon offers a straightforward yet efficient method for generating earnings without the inherent risks typically associated with price fluctuations.

Transparency is a core principle at Solomon, exemplified by the partnership with Ceffu, a trusted institutional custody provider. Regular attestation reports validate custody account balances and asset holdings, contributing to the overall trustworthiness of the Solomon ecosystem. With a vision to transform how users interact with stablecoins, Solomon aims to convert billions in idle capital across the decentralized finance (DeFi) space into productive assets, thereby reimagining the functionality and utility of digital currencies in modern finance.