Cypherpunk meets Wall Street

Crypto promises to deliver true individual freedom. Stablecoins offer the most compelling product-market fit in this race. Until now, the missing piece has been bridging the gap between internet-native money and the real world infrastructure. This is the promise and vision we have set out for sUSD (Solayer USD).

The Real Magic Internet Money

Bringing the Real World Assets On-Chain

On January 3rd 2009, the Bitcoin genesis block dropped on a message : “Chancellor on brink of second bailout for banks.” 15 years later, crypto is still David to finance’s Goliath— a $2 trillion market against a $100 trillion stock market, a $130 trillion bond market, and more. BlackRock, with $11.5 trillion in assets, eclipses the entire crypto industry. Despite the progress, with 6.8% of the world owning crypto, mainstream adoption feels like rolling a boulder uphill.

Crypto isn’t just about numbers - it’s about disintermediation, removing middlemen to create equitable access to financial freedom.

The next 15 years of taking a real shot at mainstream adoption is to bring the real world on-chain. We’re already seeing the tokenization of the US Treasury Bill to government bonds to commodities to real estate….

The rest is left up to us - how can anyone with an internet connection access tokenized RWA.

A fully decentralized stablecoin

Stablecoin is the first Real World Asset, mostly pegged to the US Dollar, and termed stable due to the demand to access the resilient economic security of the US government. Demand is sky-high, with daily transfers reaching an all-time-high of $150 billion in Q1 2024. In 2023, stablecoins settled over $10 trillion, exceeding global remittances by more than 10 times.

The irony: most stablecoins are tethered completely to traditional banking infrastructure, drifting away from crypto’s core promise of individual freedom. To create the ultimate open internet platform, Stablecoins should be decentralized and user-owned - an automated asset that no one can create, destroy, or freeze besides the user themselves.

#sUSD is a fully decentralized stablecoin that brings the real world on-chain, to create a true open internet.

sUSD, a Stable Gateway to the Real World Infrastructure

sUSD is created via a basket of “low-risk” real world assets, through qualified tokenizers. The U.S. Treasury Bill is our first asset onboarded. We will eventually onboard other low risk real world instruments, such as oil, gold, etc.

sUSD, Decentralized via an RFQ Marketplace

sUSD is a decentralized stablecoin through the Solayer RFQ (Request for Quote) protocol, a marketplace matching engine. The marketplace facilitates USDC quotes and qualified tokenizers, with a matching engine that yields the most optimized interest. The marketplace interface is a non-custodial, fully automated smart contract that conducts minting, redemption, and order matching procedures.

sUSD, Permissionless for Anyone

sUSD envisions the entire world to have permissionless access the dollar and earn yield on a dollar-denominated instrument. Like an AMM, anyone can swap, anyone can provide liquidity. With Solayer RFQ, anyone can create a quote, any qualified tokenizer can become an RWA liquidity provider. This is a permissionless process facilitated by the smart contract.

sUSD, Instantly Liquid to Mint and Redeem

Liquidity shortage and user friction limit adoption of RWA holding on-chain. There is no channel for anyone with simply $5 to access the U.S. treasury directly. Or after purchasing it through an exchange, there is no mechanism to redeem it back.

sUSD enables anyone with $5 to mint and redeem instantly on the portal, with direct paid interest in USDC.

sUSD, Rebase USDC Interest automatically

USDC and USDT issuers hold U.S. Treasury Bills worth as much as Norway’s foreign reserves and even more than South Korea’s. But here’s the catch: the yield from these T-bills goes to the issuers, not the holders. With sUSD, holders earn yield directly from real-world assets, starting with short-term U.S. Treasury Bills, paid automatically in USDC. It’s an effortless, on-chain savings account.

sUSD, Securing the blockchain With the Real World

Solana and Ethereum are the most widely used decentralized “open internet” to-date, powering various dApps and decentralized networks. Solana and Ethereum are secured via the concept of crypto-economic security of Proof of Stake consensus, with SOL and ETH as collateral assets.

Solayer introduces sUSD, a decentralized RWA stablecoin, as a Proof of Stake collateral asset participating in network-state consensus mechanism, especially those built on top of Solana. All various networks, such as SVM L2s, bridges, oracles, can be boostrapped by the economic security of the real world infrastructure.