Welcome to Setora Labs
Synthetic Derivative-backed Dollar on Solana
Last updated
Synthetic Derivative-backed Dollar on Solana
Last updated
Setoral Labs is a Solana-based synthetic dollar protocol offering a crypto-native alternative to traditional stablecoins. Our aim is to create stablecoins that are superior to traditional stablecoins in terms of scalability, stability, and censorship resistance.
Setora Labs' stablecoins--USS and enhancedUSS (eUSS)--employ a delta-neutral strategy of staking JitoSOL and hedging with SOL spot and perpetual dexes respectively. This allows USS and eUSS to keep their value stable regardless of the underlying asset's market direction while earning attractive yield for users:
USS earns enhanced yield by staking JitoSOL, receiving both staking yield and MEV rewards from the platform.
eUSS earns superior yield by combining yield derived from staking assets (USS's basic yield) and the funding & basis spread from perpetual markets. eUSS' yield exceeds that of lending protocols in the space while having lower volatility.
Our vision is to create an efficient stablecoin ecosystem that serves as a beacon of stability and reliability in an increasingly volatile digital economy. We envision a future where individuals and businesses, regardless of their location in the world, can get access to a stable and reliable medium of exchange, unit of account, and storage of value.
Because USS and yUSS are backed by delta-neutral hedging position, its risk is inherently different from traditional fiat stablecoins such as USDC or USDT. Please refer to the section for more information.
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