USDv and sUSDv

Solomon consists of two tokens:

• USDv

• Staked USDv (sUSDv)

USDv

USDv is a stablecoin that is maintained at a peg of $1 through two-way arbitrage. Users can acquire USDv through stablecoin liquidity pools. It can also be minted and burned by approved entities.

sUSDv

USDv can be staked to create sUSDv. Yield is distributed to the staking contract regularly . This prevents attempts to arbitrage or front-run reward distributions, keeping them smooth.

The exchange rate between USDv and sUSDv is initialized at 1. As distributions are made, the value is accrued in sUSDv. This results in the exchange rate increasingly favoring sUSDv. Thus, the amount of sUSDv received to be less than the amount of USDv being staked, but the value remains the same. Conversely, when you unstake sUSDv you will receive more USDv in return as distributions are made.

Example

1. Alice stakes 1,000 USDv and receives 1,000 sUSDv.

2. One year later, the value of 1 sUSDv has grown to $1.15 due to protocol yield.

3. Her 1,000 sUSDv is now worth $1,150 USDv upon unstaking.

Unstaking sUSDv incurs a 7-day cooldown period. At the end of the cooldown, the user is able to withdraw all USDv initially deposited along with any yield distributed during their staking period.

sUSDv is fully transferable and can be used across other Solana DeFi ecosystems.

Details

USDv

SPL Token

A stablecoin pegged to USD, backed by crypto assets and derivatives

Contract: Ex5DaKYMCN6QWFA4n67TmMwsH8MJV68RX6YXTmVM532C

sUSDv

SPL Token

A staked version of USDv that accrues yield over time.

Contract: pTA4St7D5WshfLUPBXoaxn5m8e3k2ort2DVt3gUTa17