Solstice Finance, a decentralized finance (DeFi) protocol backed by the $1 billion digital asset firm Deus X Capital, has officially launched its Solana-native stablecoin, USX, alongside its flagship YieldVault program. USX is a synthetic stablecoin backed 1:1 by stable collateral, with reserves verified in real time through Chainlink’s Proof of Reserves, aiming to close liquidity and yield gaps in Solana’s DeFi ecosystem.
YieldVault operates with delta-neutral strategies and has posted a 13.96% internal rate of return (IRR), recording no negative months since inception. The program went live with $160 million in total value locked (TVL), underscoring investor confidence. Ben Nadareski, CEO and co-founder of Solstice, stated: “We built USX to address this market gap on day one—a stablecoin that preserves frictionless transaction benefits while offering institutional-grade yields native to the protocol.” Holders can lock USX to mint eUSX, a derivative token representing their share in the yield-generating fund.
The initiative is supported by veterans from Solana Labs, Coinbase, and BlackRock, with institutional backers including Galaxy Digital and Bitcoin Suisse. USX integrates Chainlink’s Cross-Chain Interoperability Protocol (CCIP) for seamless cross-chain transfers. Solstice has also announced plans for a utility token, SLX, via a community-first distribution model. Lily Liu, president of the Solana Foundation, emphasized: “Solstice is driving real, sustainable onchain revenues within the Solana ecosystem. The launch unlocks new opportunities for builders, users, and investors.”
Solana’s role in stablecoins is expanding, with projects like the Trump-backed USD1 reaching a $2.68 billion market cap and Kazakhstan’s KTZE stablecoin choosing Solana for its efficiency. Despite this, SOL’s price dipped 1.98% post-launch, with daily volume at $6.55 billion.
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