Setora Labs | Synthetic Dollar using Solana
  • Overview
    • Welcome to Setora Labs
    • USS vs eUSS
    • Problems We Solve
      • Stablecoins are Important
      • Centralized Stablecoins Sucks
      • DeFi Alternatives to Centralized Stablecoins
      • Why Synthetic Derivative-Backed Dollar?
      • Why Solana?
    • Founding Team
    • 100% Mottos
  • Documents
    • How USS and eUSS Work
      • Delta-Neutrality
      • [eUSS] Underlying Derivatives: Perpetual Contracts
      • Hedging Mechanism
    • Let's Talk Yield
      • Yield Explanation
      • Historical Yield
    • Liquidity and Scalability
      • Staked SOL Markets
      • [eUSS Only] SOL Perpetual Market
    • Backtesting Our Model
    • Development Roadmap
  • Risk Management
    • Risks
      • Collateral Risk
      • Exchange Failure Risk
      • Custodial Risk
      • [eUSS Only] Funding Rate Risk
    • Audits
  • Tokenomics
    • $TORA
    • $veTORA
  • Instruction
    • Get Started
    • How to Mint / Redeem USS, eUSS
  • Resources
    • FAQ
    • Important Links
    • Contract Addresses
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  1. Overview
  2. Problems We Solve

Why Solana?

PreviousWhy Synthetic Derivative-Backed Dollar?NextFounding Team

Last updated 11 months ago

Ethena did it on Ethereum, and they are doing it really well. However, we spot a market need for the same protocol to be on Solana and to be based on Solana-native protocols, for the following reasons:

  1. Solana provides a superior staking APR, which would play a significant role in creating a superior yield for end users

  2. Solana has relatively large open trading interests on Dexes (and eventually Cexes), which would enable us for large-scale growth in the longer run

  3. Solana is one of the biggest ecosystems in crypto and is still growing at a great pace

  4. Drift Protocol trading mechanism has allowed us to utilize a great yield opportunity.

  5. Solana is in dire need of innovative yield protocols outside of liquid staking and memecoins.