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This is the first real-world asset (RWA) that earns interest, just like a US Treasury Bill. What does that mean?
Well, it means that you can now earn interest on your money while using Solana, a fast and popular blockchain.
What Is sUSD?
Think of it as digital dollars you can earn interest on. When you use sUSD, your money isn’t just sitting there; it’s working for you. By holding sUSD, you can benefit from the same kind of interest you would earn if you bought US Treasury Bills. These are very safe investments issued by the US government. So, you can feel secure knowing your money is in good hands.
One of the coolest features of sUSD is that it allows you to restake your earnings. Restaking means that you can take the interest you earn and put it back into the system to earn even more interest. It’s like planting seeds to grow a bigger garden. The more you restake, the more you can earn. This can help your money grow over time.
soft introducing sUSD (Solayer USD):
the first RWA yield-bearing USD with US Treasury Bill interest on Solana enabled to restake, in collaboration with @OpenEden_Labs
p.s. feeling cute in my new skin at https://t.co/2HFebxskY1 and turn notifs on from now for real-time info pic.twitter.com/8vCr46F5PD
— Solayer (@solayer_labs) October 2, 2024
The introduction of sUSD is a big step forward for the Solana community. It gives people a new way to use their digital assets while still earning money.
The partnership with OpenEden Labs helps make this possible by combining the strengths of both organizations. By working together, they’re offering a safe and effective way for people to manage their money using blockchain technology.
More About Solayer
Solayer and Binance are teaming up to launch BNSOL, marking one of the most significant liquid staking tokens (LSTs) to date. Starting September 12th, users can upgrade their SOL to BNSOL on Binance’s staking page. This move not only helps secure the Solana network but also unlocks multiple reward streams for users.
1/ Solayer and @binance are joining forces to launch BNSOL, one of the most significant LSTs to date.
Starting today, users can upgrade their SOL to BNSOL on Binance’s staking page, helping secure the Solana network while unlocking multiple reward streams, including staking… pic.twitter.com/1Qcz5V70J8
— Solayer (@solayer_labs) September 12, 2024
These rewards include staking rewards, liquidity incentives, AVS delegation, and MEV rewards, making it an exciting opportunity for those looking to maximize their returns while supporting the network.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
The post Solayer Launches sUSD: Earn Interest on Solana appeared first on Altcoin Buzz.
Nermeen Nabil Khear