Solstice Finance Launches Solana-Native Stablecoin USX

Solstice Finance, the onchain asset manager backed by $1 billion digital asset investment firm Deus X Capital, has officially launched its USX and YieldVault Program to the public. The Switzerland-based protocol delivers what it describes as a new category of stablecoin – purpose-built for composability, transparency, and native yield through Solstice’s protocol. According to Ben Nadareski, CEO and Co-Founder of Solstice, “Legacy stablecoins maintain majority market share, yet not a single leading stablecoin was born natively on Solana and no dominant yield-native stablecoins currently exist in the ecosystem.”

The launch comes with significant backing, including $160 million in total value locked (TVL) at launch and support from major industry players including Galaxy Digital, MEV Capital, Bitcoin Suisse, Auros and Deus X Capital. This substantial initial capital demonstrates strong institutional confidence in Solstice’s approach to solving what Nadareski identifies as a critical market gap: “We see stables often being bridged to other chains for best-in-class yield – that’s stable TVL leaving our ecosystem to try and earn elsewhere.”

At the core of Solstice’s offering is what the company describes as a “battle-tested strategy” that has historically generated a 13.96% Net Internal Rate of Return (IRR) with no recorded month-over-month losses since inception. The YieldVault, as Solstice’s flagship yield engine, offers institutional-grade returns generated from proven delta-neutral trading strategies. The protocol maintains an impressive track record with 21.5% performance in 2024 and zero months of negative returns since inception.

The USX stablecoin itself is designed as a synthetic stablecoin backed 1:1 by stable collaterals with real-time Proof of Reserves via Chainlink technology. This transparency mechanism addresses one of the longstanding concerns in the stablecoin market while maintaining what Nadareski describes as “all of the frictionless transaction benefits” of traditional stablecoins. USX holders can access Solstice’s YieldVault by locking their USX into the protocol, receiving eUSX, which represents their share of the underlying net asset value of the licensed yield generating fund.

The Solana Foundation has expressed strong support for the initiative, with President Lily Liu stating, “Solstice is driving real, sustainable onchain revenues within the Solana ecosystem and the launch of USX and YieldVault unlocks new opportunities for builders, users, and investors.” This endorsement from the foundation underscores the strategic importance of keeping stablecoin liquidity within the Solana ecosystem rather than seeing it migrate to other chains for yield opportunities.

Solstice Labs is already working with over 30 partners in the ecosystem for integration, with what Nadareski describes as a “sole focus on the Solana ecosystem.” The team behind the protocol consists of 30+ crypto and traditional finance veterans across 10 countries, with deep experience from Solana Labs, Coinbase, Galaxy Digital, Standard Chartered, Deloitte, UBS, NAB, BlackRock, UXD, ConsenSys, and other major institutions. This blend of traditional finance expertise and blockchain-native experience positions Solstice to bridge the gap between institutional capital and decentralized finance.

Looking ahead, Solstice has outlined plans for SLX, its future native utility token driven by a community-first distribution model with no venture capital backing. This approach is designed to align long-term protocol success with community incentives. The company’s broader ecosystem includes Solstice Staking AG, which operates as one of the most trusted infrastructure providers in the industry, securing over $1 billion in assets across 9,000+ validator nodes – further bolstering the group’s credibility in the crypto space.