one reason i'm paying attention to solana is the brewing stablecoin narrative onchain.
these the are ones i'm paying attention to
@solsticefi USX
@hylo_so hyUSD
@onrefinance ONyc
@reflectmoney USDC+
i'm going to evaluate them individually and try my very best to be as unbiased as possible (and possibly share some alpha too)
solstice
the current darling on the stablecoin meta with 300m tvl. solstice stablecoin USX achieves its peg via a delta neutral trading strategy.
think of it as the ethena of solana
although you might argue that ethena's yield and TVl has dropped, it is still no 1 in the decentralized stablecoin arena.
the risk for solstice is the underlying trading engine. big ups to basically, they but we really don't have a full picture of how it really works.
nonetheless, i think solstice is a good play. there is a token farming going on.
you can either go the infofi route on xeet or play the game of flares using your money.
ps: i'm doing both.
hylo
i'm biased here cos this is relatively early and solid. (my own way of saying i'm heavily farming it)
the hylo eco consist of two core tokens; hyUSD & xSOL.
rather than being backed by cash or treasury bills, hylo is backed by SOL LSTs.
the yield is pretty obvious to all but i think the litmus test will be a prolonged bear market
this is still early, TVL is at 90m. solstice's is 3x+ of this.
OnRe
these guys are an onchain asset manager.
basically, they use digital assets to underwrite real-world reinsurance. this profit then becomes the yield for their stable coin ONyc.
i'm still reading their docs but this looks like a nuanced and risky one.
reflect
basically tokenized financial strategies as interest bearing stablecoins. USDC+
deally, these financial strategies are lending, asset diversification and trading.
for now, there isn't so much in their infra but i think it is worth noting.
other stbalecoin projects worth nothing include @perena and @humafinance
really not active in either of the two so there isn't much i can't say.
my playbook for these stablecoins projects is skewed towards earning points.
as such, the YT option is my go to move if available. remember that hacks can happen so try and optimize for safety of protocols
that's all for now frens, stay brave and see you on the side that prints.
I think solana is really heating up.
We've had metora, jup, jito, kamino and pump fun.
We've also had some new plays like ore and avici.
I think there’s more to look into.
@onrefinance
@ExponentFinance
@RateX_Dex
@solsticefi
@hylo_so
@KASTxyz
@LinceFinance
@orogoldapp
@pacifica_fi
@Titan_Exchange
@bulktrade
@perena
@Loopscale
@MetaDAOProject
would be diving into most of these plays and explore how we can best position
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