By Oro Finance

Repost from X Articles:

Today we’re launching something that hasn’t existed in gold markets before: a liquidity structure where the cash leg earns yield without touching the gold.

Our USDv × GOLD pool on Meteora pairs Oro’s gold with Solomon Labs’ USDv and activates YaaS streaming on the USDv inventory inside the LP position. For liquidity providers, this changes the math entirely.

The Tradeoff We’ve Always Accepted

Gold liquidity has forced the same choice for as long as I’ve been in markets. Want your dollars to earn? Park them somewhere else. Want deep liquidity? Sit on idle capital. The plumbing to do both simply didn’t exist.

When I saw what @oxranga and the Solomon team were building with YaaS, I knew this was the infrastructure I’d been waiting for. Something that solves the problem without introducing leverage, rehypothecation, or operational complexity.

How It Works

The pool uses Solomon’s USDv stablecoin as the cash leg. USDv is productive by default, distributing rewards without requiring LPs to exit liquidity or interact with additional contracts. YaaS tracks USDv exposure inside the pool and streams rewards directly to eligible LP wallets on an epoch basis.

From an LP workflow perspective it stays simple. Provide liquidity, earn swap fees, and (if eligible) earn the USDv stream without exiting the position or touching additional contracts. No vaults. No wrapper tokens. No separate staking loop.

What This Means

For LPs: dual yield streams (trading fees plus USDv protocol rewards) while maintaining continuous gold exposure. The supplemental yield reduces opportunity cost, which means liquidity can persist through quieter conditions instead of fleeing when volume dips.

For traders: more reliable execution and potentially tighter spreads as capital efficiency improves.

Seeing Is Believing

We’re running USDv × GOLD alongside existing USDC pools on @MeteoraAG. Same asset, different cash leg. Over the coming weeks, we’ll track LP retention during low-volume periods, volume migration between pools, and APY differentials.

Real data, not promises. If YaaS delivers what we expect, you’ll see it in the numbers.

Why Solomon

I’ve been selective about infrastructure partners. Gold isn’t a meme, and our liquidity can’t afford instability. Solomon’s approach resonated because they’re building composable infrastructure that enables market structures that weren’t operationally feasible before.Their programs have undergone third party security review and they are scaling rollout deliberately.

“This is YaaS moving from theory to production. Oro needed infrastructure that could stream rewards based on dollar exposure without requiring LPs to unwind positions. The fact that they trusted this for their core product validates we’re ready for serious use cases.” — Ranga, Solomon Labs

What’s Next

The pool is live. Come see what gold liquidity looks like when the cash side actually works for you. Now we layer incentives. Oro Nuggets and additional programs will sit on top of the LP position to reward duration and deepen liquidity.

We’re partnering with Solomon on a preferential access path for Oro LPs as YaaS expands, and we’ll be leveraging YaaS in other Oro surfaces too.

Stay tuned

Publication Date: 20 March 2026

Snapshot Time: 1 March 2026, 23:59 UTC

As Solomon moves toward broader availability of USDv, we are initiating monthly attestation reporting for reserve assets associated with USDv.

USDv is managed with the objective of maintaining full asset backing. This report provides point-in-time disclosure regarding a defined portion of those reserve assets, specifically assets held off-exchange within institutional custody.

At the snapshot time, Ceffu attested that specified assets were present within its institutional custody environment. This report is intended to improve transparency around the custody component of USDv’s reserve structure.

USDv’s reserve assets may also include other components of the system, including exchange balances associated with hedged positions and onchain program balances. Those components are not fully captured by this custodial attestation alone. A broader view of system balances is available on our stats page.

This report should be read as a limited, point-in-time confirmation relating only to the assets and custody environment covered by the underlying attestation. It is not a full reserve report, financial statement audit, or comprehensive reconciliation of all system assets, liabilities, income, or exposures.

Scope of a custodial attestation

A custodial attestation is a point-in-time confirmation of balances held in specified custody accounts. It reflects the value of assets present within the covered custody environment as of the stated snapshot time.

A custodial attestation does not, by itself, represent the full economic position of the USDv system. Depending on system activity at the time of measurement, it may exclude exchange balances, unrealized profit and loss on derivatives, funding accruals, executed but not yet settled activity, trading fees, and certain onchain balances.

Accordingly, custodial attestations are one component of reserve transparency, but should not be interpreted on a standalone basis as a complete statement of total reserves or overall system value.

Transparency commitment

Solomon intends to expand the scope of these disclosures over time in order to provide a broader and more complete view of USDv’s backing.

That work includes incorporating additional reserve components, including relevant onchain balances and other system balances, together with third-party confirmations where applicable. Our objective is to make the reserve structure supporting USDv increasingly transparent, reviewable, and independently verifiable.

Attestation Snapshot Summary

As of 1 March 2026, 23:59 UTC, Ceffu attested that $923,331.50 in assets was held within its institutional custody solution at the snapshot time.

These assets were held in custody and were not held in exchange trading accounts at the time of the snapshot.

Summary at snapshot time:

• Assets held in Ceffu custody: $923,331.50

Attestation Report

March 1, 2026 Ceffu Attestation (PDF)

A complete archive of asset attestations is available in our docs.

By Saksham Diwan

Repost from: CoinDesk Research

What to know:

• Funding rates remain a clean bull market thesis: Higher demand for leverage during uptrends lifts annualised funding, creating yield opportunities as Treasury yields fall.

• Ethena as a funding rate trade: USDe captures yield through funding arbitrage, supported by $370 million in annualised fees, although ongoing token unlocks continue to pressure ENA.

• Solomon mirrors the model with small but material differences: USDv generates yield via funding arbitrage, while permissioned holders also earn “Yield as a Service” simply by holding the stablecoin.

• Token structure differs from Ethena: SOLO allocates up to 50 percent of supply to the team, but avoids some of the persistent unlock dynamics seen with ENA.

• Valuation is early and modest: With $1.4 million in TVL, equal to 0.0175 percent of Ethena’s, a proportional valuation implies roughly $35 million in fair value. Most MetaDAO projects have only averaged about 4% returns ten days after ICO.

• Bottom line: Solomon fits the synthetic dollar thesis for a lower rate cycle. Upside may be limited by early TVL and market conditions, but the combination of cleaner tokenomics and a strong narrative may introduce opportunities in the future.

The Bet on Funding Rates

Being bullish crypto has historically implied a high demand for leverage - which can easily be proxied by funding rates on exchanges. High demand for leverage leads to higher annualized funding, which in turn leads to higher yield via the funding rate arbitrage (basis trade).

Funding still remains the easiest way to bet on a bull market. If the assumption is that the bullish trend for BTC/majors will return in a interest rate cut environment (i.e late Q4 2025/2026), then betting on higher funding remains optimal.

As highlighted by Multicoin Capital on their Ethena thesis here, there is a pickup in spread between interest rates and funding rates in a declining interest rate environment - i.e. as one of source of yield dries up, funding help make up the lost yield in a bull market.

Ethena Thesis

The thesis on Ethena is quite clear from above - it is a bet on funding rates as it is a synthetic stablecoin that generates yield via funding rate arbitrage. This is further confirmed when we look at median BTC/ETH funding rates (annualized) v/s ENA price since inception.

Median Funding Rates v/s ENA/USD

Ethena’s currently has around $8b in its stablecoin USDe and is doing $370m in annualized fees -which implies a FDV/Fees multiple of 21. Do note that this is fees and not revenue (which is significantly lower given most of the fees are given back to the stakers of USDe as yield).

The core problem with Ethena is the potential sell pressure from persistent unlocks. As per Cryptorank, 1.5% of total supply of ENA is to be unlocked every month until March 2028 -> this implies a monthly sell pressure of $69m at current prices. This sell pressure is roughly 1% of monthly volumes (assuming all volumes are organic).

Overall, for Ethena, the thesis is relatively clear but the murky tokenomics raise concerns and potentially dampen the upside for the token.

Case for Solomon

Solomon is the latest MetaDao ICO project which aims to do what Ethena is doing i.e. generate yield on a synthetic stablecoin (USDv) via funding rate arbitrage - but there are a couple of caveats.

In terms of getting the yield - its relatively straightforward and similar to Ethena whereby an entity can stake Solomon’s stablecoin (USDv) to get sUSDv - which enables them to receive the yield generated via the funding rate arbitrage.

One core difference is the yield on USDv itself. Solomon aims to offer ‘Yield as a Service (YaaS)’ i.e. an entity can earn yield (currently at 9% annualized) by just holding the USDv stablecoin. This is only for permissioned (KYC) participants but would potentially enable DAOs or even DEXs to generate yield for LPs.

On the tokenomics side, 50% of the max SOLO (Solomon’s token) is potentially reserved for the team - this allocation is more incentive oriented i.e. chunks of the allocation unlock as the price goes up from the initial ICO price.

There is an 18 month cliff for the initial unlock with a 3 month TWAP after every tranche of the unlock - this is the core difference between ENA and SOLO in terms of any potential sell pressure from unlocks.

Solomon Tokenomics

Lastly, from a valuation perspective, we can try and estimate a very rough ‘fair’ market value based on Ethena’s current TVL relative to Solomon. Solomon, being in a private beta, only manages around $1.4m in TVL - which is 0.0175% of Ethena’s current TVL. A 0.0175% of ENA’s current FDV ($2B) implies a fair market value of $35m.

On average, with the exception of AVICI, MetaDAO’s recent launches have returned 4% on average after 10 days of trading post ICO. This implies that the post ICO launch period likely offers entries below ICO price, especially given the current bearish broader market conditions.

MetaDAO Launches Returns: 10 days post ICO

Overall, Solomon fits the Ethena thesis i.e. capture funding rate arbitrage trade especially in a low interest rate environment. While there might be concerns around valuation (potentially is already close to its ‘fair’ value) and the recent returns of MetaDAO launches, the clean tokenomics and a strong thesis makes for an interesting case.

TL;DR:

• First YaaS deployment is live with @orogoldapp driving +22.05% LP APY, 3.5x growth in pool, and CoinDesk Research featuring our YaaS partnership with Oro in their recent stablecoin research piece.

• Upcoming governance proposal: (i) deploy a meaningful portion of Solomon treasury assets into deep USDv/USDC liquidity with proper oversight via a subcommittee, (ii) buy $SOLO in the open market to build up a $SOLO treasury and allow token holder alignment

• Cantina audit completed. 300+ commits across 8 repos hardening the backend.

• Legal/compliance hurdles are cleared, ~1 month away from completion.

• Rebrand, integrations for YaaS, open access, and a major Solana related announcement incoming.

Building in public with a live token is a constant tradeoff. I want to share progress, but I can’t narrate everything in real time, especially legal and compliance. Some details get used against you, whether that’s competitors, counterparties, or people trading around timelines.

Here’s one early decision that shaped how we’ve been moving.

When we started talking seriously about launching on MetaDAO, it was right around October 10th. We got through that dislocation with zero issues, which gave us confidence in the core system. But it also changed the rollout environment. Our yield comes from the basis trade, so funding matters. Post 10/10, funding collapsed and stayed weak.

That flipped the risk-reward. Scaling retail at that moment would’ve meant manufacturing demand with incentives and TVL deals, and doing it on top of legal/compliance and infrastructure that weren’t where we wanted them yet. It probably would’ve looked good short term, but it would’ve anchored us to mercenary capital, token reflexivity, and a foundation we’d eventually have to unwind. We chose the durable path instead. Invest in legal/compliance and build the infrastructure we actually want to scale on.

And the sequencing flipped too. We thought it would be “retail first, then YaaS.” In reality, the pull for YaaS showed up earlier, and from serious places. Since this is partnership dependent, legal/compliance quickly became the hard bottleneck.

Fast forward to today: for the first time, we have real clarity on the legal/compliance path. I’ll get into that later. First, here’s what we shipped over the last month.

YaaS v1 Went Live (Oro × USDv)

Last month we shipped the first production instance of YaaS.

https://x.com/orogoldapp/status/2016574665284612227

We partnered with Oro to move a portion of their main liquidity over to USDv and stand up the GOLD–USDv pool. The core is rooted in a simple idea: the stable leg inside an LP position should be able to earn, without wrappers or vault interactions, so there’s no extra smart contract risk just to access yield.

Early stats (first 23 days, annualized):

• LP fees: 16.23% APY

• LP fees + YaaS rewards: 22.06% APY

• Net uplift from YaaS over that window: +5.83% APY

• LP Volume Cumulative: $1,257,989

During this period we worked closely with the Oro team on fee tuning and modeling. The thesis is straightforward. If YaaS is adding a baseline return to the USDv inventory inside the LP, we can price the GOLD–USDv pool slightly cheaper than competing pools and win more flow, which can translate into more fee capture per unit of liquidity.

That dynamic showed up in the data. In lower-volume periods, the GOLD–USDv pool captured a larger share of flow and generated stronger fee yield (excluding the added YaaS rewards from the opt-in). In higher volume, GOLD–USDC still produced higher fees, largely because it has deeper liquidity today. We’ll get a cleaner read once pool sizes are closer to parity

Given the results and the additional yield, Oro has steadily increased the size of the GOLD–USDv pool from ~$100k to ~$350k. It’s still constrained by our current cap, and we expect it to scale materially once we’re able to open more cap space.

We also saw demand from users who wanted to add positions specifically to access YaaS. We’re still gated, but open access is coming soon.

We expected to ship two more YaaS integrations last month, but partner timelines slipped. Both are still in motion and should land shortly.

CoinDesk Research took notice of the YaaS role out and covered it here:

https://x.com/CoinDesk/status/2023819782542553391

Cantina audit completed

We also wrapped up our latest audit via Cantina who reviewed the core onchain programs behind USDv:

https://x.com/cantinaxyz/status/2017281703447040060

USDv is now routable on Jupiter

In addition to this, USDv is now treated as a stable and included in Jupiter routing. Jupiter doesn’t add an extra fee on top here, you’re just paying the underlying route costs:

https://x.com/solomon_labs/status/2019875829430546697

Backend

Commits: 300+ across 8 active repositories

This month’s engineering work was mostly about hardening and widening the foundation. Making our onchain state reconstruction engine production grade, expanding multi protocol coverage, improving observability, building governance tooling, and shipping supporting cloud and platform upgrades.

AMM state reconstruction engine

The bulk of the month (198 commits) went into hardening the AMM state reconstruction engine. The goal is simple, given raw onchain transactions, we should be able to deterministically reconstruct pool and position state with the same outputs the chain would produce.

Major milestone: our discrete bin state machine now produces results fully consistent with onchain state across all tested transaction histories. That’s the culmination of weeks of work on fee modeling, position lifecycle tracking, and bin level distribution math. Exact parity is the prerequisite for everything downstream we care about:correct fee attribution, accurate PnL, and eventually automated strategy operation.

Key progress:

• Multi-protocol coverage: instruction + event processing now supports Meteora (DLMM + DAMM v2), Orca Whirlpool, Raydium (AMM, CLMM, CPMM), and MetaDAO Futarchy. This is the base surface area we need to operate across the major Solana liquidity venues without being boxed into one protocol.

• Position-level PnL tracking: implemented a share-based accounting model to track profit/loss at the individual position level, including fee accrual, rebalancing events, and realized outcomes on withdrawal.

• Invariant verification: built a comprehensive invariant checking framework (generic + protocol-specific) that continuously validates outputs against known mathematical properties. This acts like an automated audit layer, catching discrepancies before they propagate.

Pipeline architecture note: what’s running today is our MVP pipeline, purpose built to get YaaS operational and battle tested. In parallel, we’ve been building the next gen processing pipeline from the ground up. The new pipeline is architected for throughput. zero memcopy design, binary stream processing, and a fundamentally different data handling approach built to scale aggressively as pool count and transaction volume grow.

Observability and terminal tooling

We continued investing heavily in real time observability. a terminal based monitoring suite that gives us deep visibility into protocol operations.

This month we shipped:

• new monitoring panels (pool stats, position browsing, accumulator inspection, state machine debug views)

• improved terminal native charting (liquidity distribution graphs, bin-level visualizations, time series observation recording)

• volume and metrics tracking integrated directly into the monitoring pipeline

• application lifecycle improvements (teardown, stdin management, title bar rendering, render scheduling) for production stability

Governance infrastructure

We also started building purpose built tooling for onchain governance operations:

• Proposal Builder: terminal based proposal composition with an editor, navigator, and live preview, designed for assembling multi instruction proposals for Squads execution

• MetaDAO + Squads integration: complete TypeScript wrappers for MetaDAO’s Conditional Vault + Futarchy programs and Squads V4 (accounts, instructions, events, type definitions), generated via our custom IDL tooling for type safe interaction

• Governance state machines: implemented state machines for Conditional Vault and Squads V4 so we can reconstruct and verify governance proposal lifecycles directly from onchain data

Monorepo and developer tooling

Continued strengthening the foundation everything builds on (31 commits):

• IDL code generator enhancements (nested account hoisting, single-field struct inlining, camelCase normalization)

• expanded our Rust source introspection tooling with new parser capabilities and test coverage (Humidifi)

• binary transaction storage improvements (index rebuilding + seeking for efficient historical data access)

• terminal UI framework improvements (title bar widget system, hot path optimizations, render scheduler refinements)

Spec and research

Forward looking work on next gen data formats and scanning performance:

• transaction tape v2 design (offset-based timestamps, bitpacking, hot/cold address indexing, repeated pattern compression, canonical instruction ordering)

• scanner specification with prototypes in TypeScript and Rust for a high-performance transaction scanning approach

Governance and document infrastructure

Alongside the infra work, we also shipped a bunch of governance and document tooling. Some context on why: we’ve been spending way longer on legal than we originally expected. About a month into working with a few firms, it became clear we had to build real in house ownership here. We needed to hold the full mental model across jurisdictions and counterparties, and in a lot of cases we ended up drafting first versions of docs just to get something concrete on paper and keep things moving. That’s a big lift for any startup, and it gets even more complicated when you layer on something new like the MetaDAO futarchy framework.

The reality is we can’t “just ship” our way through this. Most of the relationships that matter are between legal entities: custody, operators, banking, partners, and even certain integrations. If the structure isn’t set up correctly and the agreements don’t match what the system is supposed to do, you don’t get to proceed...

With all of that in mind, we started treating documents like an engineering surface: deterministic, versioned, and easy to verify.

The core is two pieces:

• Record Schema (spec): a simple spec for organizing records as directories with stable identifiers, typed documents, and machine-readable metadata. It enforces a small set of invariants (deterministic naming, required metadata, structural baselines) so repos become lintable, renderable, and auditable. The important bit is byte-stable adopted text surfaces, so governance documents can be hashable and reproducible.

• Record Schema Toolkit (implementation): a zero-dependency Node.js CLI/API that operationalizes the spec. It discovers and validates repos, enforces formatting profiles, parses metadata blocks, computes hash surfaces, and renders docs through an AST pipeline into properly typeset PDFs.

This month we used it to ship:

• Company Agreement: finalized and rendered as a professionally typeset PDF, generated from source through the toolkit pipeline (reproducible, version-controlled).

  

• SOP registry: structured under the schema with metadata and validation in place.

• DAO proposals registry: clean lifecycle hygiene (draft → vote → passed → executed), canonical pinning on adoption, immutable adopted text surfaces, append-only logs, and machine-verifiable metadata.

All of these repos are now lintable, validatable, and renderable through the same pipeline, which makes governance a lot less hand wavy.

If MetaDAO cohort DAOs are interested, we’ll make Record Schema + the toolkit available under an exclusive license at no cost. Most DAOs are still running governance off ad-hoc document piles that can’t be audited, and this is a practical way to level that up without everyone reinventing it.

Brand refresh

If you’ve been paying attention to our content lately, you’ve already seen the new brand starting to take shape. We’ve completed the branding system phase and are actively rolling it out.

Next up is the revamped landing page, which ships soon. In parallel, we’re refactoring the dApp to fully adopt the new brand system. This will ship once ready

The refresh isn’t cosmetic for the sake of it. The new brand gives us higher design quality, more flexibility in how we produce and scale content, and a cleaner UX/UI that better reflects what Solomon actually is.

Site performance

The performance work is done. We’re now focused on integration improvements to the Swap component and Wallet Connect before releasing.

When it lands, the app will load materially faster. External calls on page load drop from roughly 20 down to 4, unnecessary code and assets loaded on init have been stripped out, and the swapping and wallet connection flows will be cleaner end to end.

A few other things in motion

• We’ve engaged third-party proof-of-reserve / attestation firms to add another layer of transparency around collateral backing. Expect this to come online in the next month.

• We’re working with Blockworks to be one of the first teams participating in their token transparency framework.

What comes next

For the first time in a while, I feel comfortable laying out a real timeline.

We have a clear path on the legal/compliance side, and counsel is giving us roughly a month to close out the remaining items. That doesn’t mean we’re waiting a month to do anything. It means we finally know what “done” looks like, and we can plan around it.

The next month

1) The first proposal goes live in the coming days.
This is the proposal that starts putting the treasury to work.

The core is simple: deploy a meaningful portion of treasury assets into deep USDv/USDC liquidity, with proper oversight via a subcommittee.

When we raised, the original intent wasn’t to sit on idle cash. The plan was always to use capital to build deep liquidity so we can negotiate better terms with venues and custody providers, and so partners can actually rely on USDv at size. We already run extremely lean. Having roughly ~5m deployed into USDv/USDC liquidity gives us the depth we need to onboard serious partners.

The proposal will be executed in phases over about a week so the setup is clean and the guardrails are in place from day one.

2) The proposal will also cover SOLO treasury buildup.
SOLO started trading below “NAV” a few weeks ago as the market rolled over. I think that creates a real opportunity to improve alignment.

The proposal will include buying SOLO in the open market to build up a SOLO treasury. The intent is straightforward: if someone is short-term oriented, this is a clean chance to exit. On our side, holding SOLO at the treasury level gives us more options for how we drive growth and structure incentives over time, and it can be used for one or more of:

• bringing in better aligned capital

• powering incentives when we choose to turn them on

• establishing MM relationships that help create a healthier secondary market

Any SOLO-related decisions will be communicated clearly, and there will be oversight. The proposal will have the specifics.

3) We’ll request a legal budget top-up.
We’ll also be requesting a one time top up from the treasury for ongoing and new legal/compliance expenses. We’ve operated on a very lean budget so far and used most of the buffer for audits and the current legal push. This is the part that unblocks the next phase, so we want it properly funded.

Near term product expectations

While that month is in motion, you should also expect:

• the rebrand to fully go live

• neobank integrations for YaaS to come online

• a major Solana related announcement that meaningfully impacts Solomon

The next 6-8 months

Think of this as the checklist we’re executing against once the legal/compliance path is cleared and we can scale without gating everything:

• public access expands, caps lifted, and the core protocol becomes broadly usable

• major integrations with partners across Solana DeFi

• Established company treasuries converting to USDv and leveraging YaaS

• Multiple LP conversions to USDv and opting into YaaS

• Neobanks coming online with YaaS usage in production

• Vaults adopting USDv and sUSDv as core building blocks

This should drive meaningful growth in TVL. But the bigger point is compounding. once USDv liquidity is deep, distribution is real, and YaaS is a proven surface, each new partner gets easier than the last.

On YaaS specifically

The thing I’m most excited about is that YaaS is a generalized rail, not a USDv only feature. Over the next 6 months (and some of this may take longer), here’s what we’re pushing toward:

• YaaS being adopted for yield bearing assets beyond USDv

• YaaS being used by a major stablecoin issuer (billions in supply)

• expanding YaaS tooling to support more novel applications of liquidity, incentives, and distribution (more on this later)

We’ve come a long way from when this was all just in our heads.

Progress feels slow at times, especially when it’s not public facing. But I have to remind myself: we’re moving at 2-3x the speed of previous similar startups, and we’re doing it while simultaneously hiring, shipping, and pushing through legal and ops. And we’re doing it at the intersection of tradfi/defi, permissioned/permissionless, inside this new paradigm of ownership coins.

Building a startup is a constant whiplash of highs and lows. It’s hard. Genuinely hard. But we chose to do the hard things because those are the only things worth doing. And if we keep executing like this, Solomon stops being a “project”, or a token, or a narrative. It becomes something much bigger: an infrastructure layer for better dollars, owned by you.

If you only look at the surface, the last month might have looked quiet. Underneath, it was the most consequential stretch of building we’ve had so far.

Let’s dive straight into what’s happened over the last few weeks. Near the end, I’ll cover our rollout strategy.

Security and Audits

Audits with Cantina started last week:

The code has been battle tested onchain for over a year, including being live through 10/10. We’ve now brought in Cantina to review it with additional independent security researchers as we head into rollout. The audit is expected to wrap up later this week.

Team

We brought on a senior backend engineer to help us scale YaaS along with hardening the rest of the infrastructure.

His background is a rare mix of high performance market plumbing and crypto-native infrastructure. He started in high-performance exchange connectivity at Goldman Sachs, then went deep into blockchain across SSI, benchmarking and testbed evaluation, and MEV research on FCFS chains like Algorand. He later became a founding engineer at an MPC custody startup, where he helped build the core cross-chain integration framework.

He also completed a master’s thesis at TU Munich analyzing LP profitability and market making strategies in prediction markets, centered on Polymarket’s transition from AMM to CLOB. Take a peek here:

We’ve also brought on additional capacity for marketing execution via experienced operators with backgrounds at Disney, Netflix, DoorDash, and Amazon. They’ve translated that experience into crypto, alongside deep consumer product instincts, and will be integral to the incoming rollout.

Legal, Governance, Compliance, Custody, and Venues

This is the part we’ve spent more time on than we would’ve liked, and we thought we were closer to finished earlier. But it’s also the part that determines whether everything that follows is durable.

We’ve been iterating the DAO operating agreement aggressively. We’re now past dozens of drafts, converging on a ~130 page package built around three primary instruments, several secondary instruments, plus a formal process layer for how governance evolves over time. We’re working with two law firms and the MetaDAO legal team to get this right.

In the previous update, we mentioned venues, custody, compliance, and third party integrations were the long pole in the tent. On this front, there’s been meaningful progress. We’ve onboarded additional execution venues and custody partners, so we now have the redundancy and diversification we need to scale responsibly. There’s still some compliance and legal work to close out, which ties directly back to the governance work above. And there’s one more third party integration we’re pushing to complete that’s taking longer than expected.

Once these pieces are finalized and live, we can put up our first proposal, deploy treasury assets, and begin announcing the partners we’ve been integrating in the background.

Quick notes on why this matters:

Integrations and BD

A lot has moved here, but most of it is still under NDA, so we can’t share details yet.

We announced the Avici integration:

We’re working with Avici to go live with YaaS, and that will land during the next phase I cover near the end of this update.

We’ve also had inbound from other teams exploring YaaS as an infrastructure layer. We’ll share more once it makes sense to do so.

UI/UX and Product

There’s a lot happening across UI/UX right now, from brand down to performance and core flows.

Brand refresh

I want Solomon to look and feel like the company we are, and match the importance of what we’re building. We’re getting close.

We’re out of high-level exploration and in finalization now: colors, typography, visual system, core assets. The direction is locked, this is iteration and polish (roughly ~90% complete). Next up is a new landing page, then we refactor the app design to fully match the updated brand system.

Site performance

We’re cleaning up accumulated frontend bloat that’s been dragging initial load and flows dependent on external calls (RPC, etc.). Biggest win so far is reducing external calls on load from roughly ~20 per page load to ~4, along with stripping unnecessary code and assets loaded at init.

This is mostly invisible work, but the app should feel materially faster as it rolls out.

Swap experience

We fixed a swap widget issue that broke embedded buy/sell flows for USDv, which forced users to route via Jupiter directly. The widget is functional again, and we updated styling to better match our design system.

We’re now working on a native swap experience so we can reduce fees and remove third party dependency.

YaaS UI

YaaS UI is complete at an MVP level. The next phase expands position types and improves some of the backend UI/UX. This is something we’ll iterate on as we onboard users and see real usage pattern.

Engineering and Infrastructure

The amount of dev work happening is hard to capture in a single update, but for perspective, last week alone we had 80k+ lines change across the codebase. The production surface area spans 42 repos, and the core repos now total ~660,725 LOC

Some of what we’ve been focused on over the past month:

Trading infrastructure (AMM)

• Built a visual debugging interface for monitoring pool activity

• Added support for multiple AMMs

• Improved position-level analytics and tracking

• Significant cleanup and reorg to keep things maintainable

• Enhanced real-time visualization plus playback tooling

Core libraries

• Added foundational data structures (LRU cache, ring buffer, shared buffer)

• Built a terminal UI framework and chart primitives for financial visualization

• Improved RPC client performance and rate limiting

• Improved Solana code generators from program definitions

Developer tools

• Expanded automated code generation utilities

• Added dependency security scanning

• Improved internal documentation tooling

• Built deployment automation scripts

Specs

• Designed a record schema format and tooling with broad use cases

• Established a formal specification framework for protocol components

What’s Next

There are moments in building where everything converges. The idea becomes code. The code becomes a system. The system becomes real. After countless hours spent to bring it into existence, you finally get to see it alive.

If you’re a founder, you live for that moment.

That moment is here with YaaS.

YaaS Rollout

YaaS is the mechanism that lets USDv wedge into the anchor points that matter. Not as a yield feature, but as a routing layer that makes USDv the better default stable leg across LPs, neobanks, treasuries, and eventually margin rails.

Starting next week, we’re kicking off Phase 1 of the rollout. This phase is about showing YaaS in production with select partners, across the core use cases:

• Canonical LP positions moving their stable leg to USDv, earning yield on top of swap fees.

• Neobank end users holding spendable USDv balances that earn by default

• Treasuries adopting YaaS for idle stable balances

• ████████████████████████████

This will be a first. Historically, stable capital across a lot of these domains has been inert. YaaS changes that.

Everything about this rollout is intentional. We’re working with partners that best showcase the value proposition, while making it clear that YaaS is built to be institutional-grade and trusted. We’ll be closely overseeing and monitoring deployments with the first cohort of users. In parallel, we’ll keep improving the tooling and infra to support the real-world permutations of these lanes cleanly.

Broader Access

In parallel, we’ll overlap this with the second track: broader access to the protocol for retail users. This sequencing gives us time to finish off the remaining legal, custody, and venue work, alongside deployment of our treasury.

The specifics of how we sequence retail access and user growth for USDv will come in a separate post. That post will cover launch partners, and the unique ways USDv and sUSDv will plug into different DeFi verticals as distribution opens up.

Phase 1 starts next week. After that, we’ll share specific dates once the remaining pieces are locked. Until then, expect progress updates. Lab Notes will continue on a monthly cadence.

Metrics Beyond TVL: Stable Productivity

One other area we’re improving is metrics. TVL is a useful headline number, but it rarely captures the full story. It treats a dollar sitting idle the same as a dollar that’s actually being used: providing liquidity, serving as margin, or streaming yield.

It also blurs an important line. A lot of “yield bearing stables” are not really stables. They behave more like share tokens or wrappers that mostly exist to power internal mechanics, not something people use as money across the ecosystem.

As YaaS turns on, we’re going to start publishing metrics that describe how USDv and sUSDv are actually being used, and whether the supply is productive. This is a work in progress, but we want it to capture things like:

• Productive supply: how much supply is actively doing work vs idle

• Where USDv is anchored: LP lanes, neobanks, treasuries, margin rails

• Liquidity quality: depth and spread in canonical pools, not just nominal TVL

• Velocity and retention: how USDv moves, how sticky balances are, where it settles

If you have thoughts on metrics that better capture a stablecoin’s productivity, we welcome input. Please reach out.

“We are stubborn on vision. We are flexible on details.” - Jeff Bezos

Building a better dollar is the fixed point. Everything else is iteration.

Solomon
Make every dollar earn
Website | @solomon_labs on X | Discord | Docs

Avici and Solomon Labs are partnering to integrate YaaS (Yield as a Service) into the Avici app, bringing a first-of-its-kind experience where eligible users can earn yield on stablecoin balances while keeping their day to day spend flow unchanged.

Avici, a self-custody neobank built for everyday spending, and Solomon Labs, a builder of dollar rail infrastructure, are working together to bring YaaS directly into the Avici experience. The goal: make it possible for users to opt in to earning yield on eligible stable balances without having to move funds into a separate “earn product,” lock up liquidity, or manage multiple accounts.

Why this matters

Stablecoins have become a primary way crypto moves money. But most stable balances still earn nothing unless users take extra steps, often pushing funds into separate products designed more for saving than spending.

For many users, “earn” options create friction:

• You have to unwind before you can spend. Withdrawals, delays, swaps, and top ups can stand between you and your money.

• You end up managing two piles of funds. One for spending, one for earning plus the constant decision of where each dollar should live.

What YaaS changes

YaaS is built to run alongside a stablecoin balance rather than replacing it with a separate savings instrument.

In practice, this applies to USDv in Avici, where users remain in control of their funds:

• Users can opt in (where available and eligible).

• Yield is distributed automatically on a regular schedule based on the user’s USDv balance.

• Earnings are visible in-app, and the USDv balance can increment over time.
  The intent is to keep the normal Avici spend flow intact, so users don’t have to “exit earning mode” to use their money.

Availability

Availability, eligibility, supported regions, and applicable terms will be shared by Avici as the integration becomes available. Participation is expected to be optional, and any yield rate (if offered) may vary and be subject to product terms and eligibility requirements.

About Avici

Avici is a self-custody neobank built for everyday spending, combining a wallet-first experience with real-world card rails.

About Solomon Labs

Solomon Labs is building USDv, a stablecoin designed for everyday use. Its yield delivery rail, YaaS, stream returns directly to USDv balances without breaking composability.

Last week, Stephen and I spent Breakpoint in back to back conversations with backers, funds, LPs, and ecosystem partners. The consistent takeaway was clear: across the board, people are extremely eager to see YaaS live. Momentum is strong, and we’re now one step closer to shipping it.

Protocol

TVL continues to climb as we lift caps. It’s up a further ~30% since the prior update and has now crossed $3,000,000 (the UI will reflect this shortly once positions are rebalanced). We’re raising caps again to onboard the next wave of users, while keeping custody, venues, and risk controls comfortably ahead of growth.

YaaS Progress and Integrations

YaaS is now being integrated with our first major neobank partner. It’s self custody, so users keep full control of their funds while getting a much better default experience for holding stables.

What YaaS unlocks for their customers:

• Earn yield without staking or lockups. No separate staking flow, no wrappers, no unwrapping, and no cooldown mechanics. The dollar keeps normal spend and transfer behavior

• Self custody stays intact. Users keep the same primitives (send, swap, spend) while yield is delivered as a routed stream, not a product they must opt into by moving funds.

• Programmatic yield routing. We allow the neobank to support per user routing, product level routing, or policy based routing without forcing users into a different asset representation.

In practice, this means stable balances inside the neobank can earn by default while keeping USDv behaving like money should. Importantly, their users won’t need solomon beta whitelisting to access the yield stream. We’ll share more details in a formal announcement soon.

In parallel, we’re continuing to move toward onboarding our first LPs for YaaS. More to come.

Engineering

This week shipped 50+ commits across the codebase, concentrated in three areas:

• Solana parsing and event stream correctness
  Cleaner event log handling, tighter Anchor CPI parsing, and expanded replay coverage for edge cases. This is foundational work: the AMM execution layer depends on consistent inputs and verifiable state transitions.

  

• AMM execution layer progress
  Continued implementation of the remaining pool mechanics that unlock treasury actions and power YaaS. We also added websocket RPC transport with gap backfilling to stay synchronized when connections drop or data arrives late.

• Internal tooling and automation
  Built a terminal UI framework for high leverage workflows (data introspection, stack traces, transaction log viewing, state transition tracing), plus automated markdown and PDF generation to produce internal reviews and reports with less manual overhead.

UI/UX: Product Clarity, Mobile UX, Brand Refresh

We’re continuing to iterate on UX/UI with three priorities:

• Clarity: surface the right info at the right time without overwhelming the screen. YaaS UI will ship in phases as components come online.

• Mobile navigation: a ground-up rethink of mobile flow so core actions and wayfinding are obvious, including a reworked Home experience for positions and acquiring USDv.

• Polish + brand: microinteractions and a tighter brand system so the app feels good to use daily. We revamped the “Your Portfolio” card, and the broader brand refresh is feeding into a redesigned landing page.

Venues and Yield Stack

We are in the last mile of onboarding our T-bill venue alongside the existing basis trade strategies. This diversifies the USDv yield stack across regimes rather than tying it to a single source. In parallel, we’re actively onboarding additional venues and custody providers. Compliance timelines are largely non-negotiable.

Legal, Governance, and Docs

Internal legal review of the DAO and protocol structure was completed prior to Breakpoint. Ten documents totaling 60+ pages are now with the MetaDAO council for review and comments. Once that review is complete, we’ll move forward with the treasury USDv proposal.

Team

A new developer joined (ex Google, Superteam, multiple Solana hackathon wins) and is already contributing alongside Joshua on execution and YaaS. We are still interviewing for a senior backend hire and others.

What’s Next

As we’re pushing towards opening up to the public, some of the remaining work depends on external parties and compliance timelines, and it’s slower than we’d like. That’s exactly why we’re expanding the team aggressively: we have a clear path, we know what needs to be built, and we want to compress the time between “possible” and “live” by increasing throughput on everything we can directly control.

YaaS is a true 0-to-1 innovation: yield earned without staking, without wrappers, without changing underlying asset behavior. We’re building it as generalized infrastructure with real implementation depth, not as a one off feature. Once it lands, it becomes a new primitive that others build on top of.

Solomon
Make every dollar earn
Website | @solomon_labs on X | Discord | Docs

Week two is about building on week one: scaling the protocol deliberately, advancing the DAO’s legal and governance structure, finishing key infrastructure, adding another cracked team member, and improving the product.

Most of the work this week continued the tracks from week one as we get the protocol ready for broader public access.

Growth: Access & TVL

USDv crossed $2M in TVL this week. That growth came alongside 600+ additional whitelisted users as we continue our phased scaling strategy.

• Priority access continues to go to wallets holding SOLO.

• We will keep widening access as the weeks progress, rather than flipping a single switch.

Governance

Governance work this week was a continuation of week one.

• We completed the initial set of legal documents and sent them to our counsel for review.

• Once that review is complete, we’ll post the first proposal.

This first proposal will bind the ownership aspect of the DAO into a clean off-chain legal structure.

After that proposal passes, we’ll stand up a second proposal that allows treasury assets to go to work within the protocol, including conversion to USDv and seeding core pools.

Venues & Custody

The long pole right now is venue onboarding, which is mostly paperwork and compliance.

We could, in theory, go public with what we have today, but our plan is to have the full custody + venue stack live before we remove caps:

• Additional custody providers to increase redundancy, flexibility, and unlock T-bill access.

• Additional exchanges to expand strategic options and improve liquidity pathways.

The existing backend infrastructure was built to be custody and venue agnostic. Once the final paperwork/compliance is done, integrating new custody providers and exchanges is primarily configuration work.

Protocol Engineering: Pools, State Machines, Events

As noted in Lab Notes 01, we continued work on:

• Pool state machines.

• Event flows and internal tooling.

To accelerate this track, we ran interviews with three dev candidates. There are promising options, and we’re aiming to add one more senior dev.

If you’re excited about what we are building at Solomon and have the skills and work ethic that align, reach out.

Frontend: Product Clarity, Mobile UX, Brand Refresh

Frontend work this week focused on three areas:

1. Product Clarity

Goal: make it obvious what USDv is, how it generates yield, and what positions a user holds.

• Extended the landing page with clearer explanations of USDv, yield generation, and YaaS.

• Added a new user profile modal displaying balances across the Solomon ecosystem.

• Continued UX/UI development on the YaaS dashboard and management flows.

  

2. Mobile UX

We revisited the mobile experience end to end to make sure the app feels intuitive on smaller screens.

• Reworked UX/UI for Buy and Stake flows (shipping soon).

• Designed targeted mobile UX/UI improvements that will roll out over the coming cycles.

3. Brand Refresh

The brand refresh is underway in parallel and will start with a full landing page redesign. We plan to time this with the public launch so the product, story, and visuals are aligned.

If you’re part of the beta cohort, you can use the new #ux-ui-feedback channel in Discord to share feedback and help us prioritize what matters most.

What This Means & What’s Next

This week was about compounding the work from week one as we continue to scale:

• Technical hardening.

• Legal and governance completion.

• Deliberate, phased access growth.

• Clearer product messaging, stronger mobile UX, and an evolving brand.

There is no single hard 0→1 flip from beta to public. It’s a spectrum: step up access, launch YaaS, bring the full custody + venue stack online. The actual launch comes when caps are removed and we announce our full set of launch partners, a list that continues to grow.

Solomon
Make every dollar earn
Website | @solomon_labs on X | Discord | Docs

Week one has been focused on foundations: formalizing the DAO’s legal and governance structure, hardening pool logic and event pipelines, and advancing the landing page and YaaS interface.

The bulk of this work lives behind the scenes: documents, state machines, parsers, and UI scaffolding, but it’s what will let Solomon scale.

Governance

We spent a significant portion of the week on the legal and governance foundation for the DAO.

We drafted a proposal that bundles:

• Charter – defines what Solomon exists to do, what assets the protocol can touch, and the high-level risk and mandate boundaries.

• Memorandum – sets out how the DAO is structured, where IP and infrastructure sit, and how economic flows are intended to move back to the DAO.

• Operating Agreement – covers treasury operations, decision-making rules, and how protocol revenues are routed.

The intent is straightforward: SOLO is an ownership coin. Protocol, IP, infrastructure, and revenues are designed to sit under the DAO entity, and these documents are how we bind that in the off chain world.

We formalized the entire proposal process with a structured schema and documentation convention that tracks metadata, execution bundles, and governance timelines. While following it is optional for actual governance validity, it gives us clean archival, machine-readable status tracking, and a pattern other protocols can reference when building similar systems. We’re looking forward to sharing the full proposal soon.

Protocol Engineering: Pools, State Machines, and Events

On the protocol side, most of the week went into making the system behave correctly under stress and giving ourselves clearer visibility into what it’s doing onchain.

Pool State Machines

We continued iterating on the pool state machines that sit underneath USDv and YaaS:

• Began modeling additional pool types / vendors to expand our integration surface.

• Separating state machines from the persistence layer to make them side-effect-free and more testable.

• Breaking out storage into tiered layers, in-memory and memcached for hot state, SQLite for persistent disk storage, with a tiered approach based on access patterns (hot/semi-hot/cold).

This incremental work gives us cleaner abstractions and prepares the foundation for scaling TVL securely across multiple pool types.

Internal Solana Tooling and Log Parsing

We continued refining our automatic Solana client code generator this week. The tool now optionally introspects reference TypeScript and Rust source code alongside IDLs, giving us more accurate type definitions and automatic implementations where possible.

The improvements mean:

• Faster integration of new Solana programs into our client library.

• More reliable generated types that match the onchain behavior.

• Less manual patching after generation.

This reduces integration time for new protocols as we build out our infrastructure.

Alongside this, there were the usual rounds of refactors, safety checks, and wiring the improved event pipeline into our internal dashboards.

Front End: Landing Page and YaaS UI

On the front-end side, we’re balancing short-term clarity with a larger design refresh.

• Landing Page – tightening copy and structure so new users can understand USDv and YaaS without needing a long external explainer.

• YaaS UI – finishing the user flows for deposits, position views, and yield

• Full Visual Refresh – in parallel, we’re doing a full brand refresh revisiting the end-to-end design (eg. colors, typography, components, illustrations, animations).

Operations, Partners, and Tooling

Beyond code and documents, a meaningful chunk of the week went into coordination with external teams.

Infrastructure and coordination tooling (including Squads)

• DAO and multisig setup

• Permissions and role design

• Upgrade paths and day-to-day operational controls

Launch partners

• Updating partners on launch plans and target dates

Security audits

• Working with auditors for second round of program audits ahead of public access

What This Means and What’s Next

Most of this week’s work was about removing prerequisites to broader USDv usage.

From here, the path is:

• Technical hardening: complete work on pool logic, event pipelines, and operational controls so the system behaves predictably under load, not just in ideal conditions.

• Legal and governance completion: finalize the charter, memorandum, and operating agreement. Once these are in place, the DAO can begin deploying treasury assets into the strategy under the new structure (and passing of proposal).

• Progressive access: move from gated beta to broader public access

Our focus is simple: move to public access as quickly as possible without compromising security, risk controls, or the robustness of the infrastructure. We’re laying the foundations for the dollar rails you’ll use and own.

Solomon
Make every dollar earn
Website | @solomon_labs on X | Discord | Docs

What’s Next for Solomon

The ICO is done, but Solomon isn’t “launching from zero.”
We’ve been running in private beta for the past year: the basis engine is live, the Solana programs are live, real users are onchain, and seven-figure TVL is already earning yield.

The system works. The raise wasn’t to fund a prototype, it was to scale something that’s already real.

Scaling is where things break if you rush. So this next phase is about taking a deliberate lap: hardening the rails, tightening controls, and cleaning up the rough edges before we invite everyone in. One of the clearest pieces of feedback we got was on UI/UX, it works, but it’s nowhere near the level of polish we want for showtime. That’s getting a full refresh.

At the same time, we’re not going into a bunker. We’re widening the beta while we do this work. Beta access sign-up is now live directly on the home page, and we’ll be onboarding more wallets, LPs, treasuries, and protocols into USDv and YaaS under guardrails. As the infrastructure is hardened and the surface is rebuilt, more cohorts will come online and the system will keep compounding in the background.

Here’s what happens next.

1. MetaDAO proposal and treasury deployment

As detailed in our ICO blog post, the first step is turning idle USDC in the MetaDAO treasury into USDv under clear rules.

We’ll put forward a MetaDAO proposal that:

• Encodes a Squads VaultTransaction instruction that:

  • Converts the funds raised into USDv directly via the Vault Program.

  • Deploys this into core DEX liquidity for USDv pairs.

The USDv and LP positions created from this process will remain under direct DAO treasury control, with full transparency into their location and deployment strategy.

2. Audits & controls

Our current onchain programs are audited by zigtur and have been live in beta, but we want another layer of checks before we scale beyond early users.

Audits

• Commission additional review of the USDv / sUSDv, vault, and stake programs with fresh eyes.

• Launch a public bug bounty so independent researchers can continuously test and harden the system.

Controls

• Add (or lengthen) timelocks on critical programs where feasible.

• Review and clearly document all roles associated with the programs.

• Ensure the Program Authority is separate from any admin role and subject to a longer timelock.
  
  

3. Product: UI/UX and YaaS interface

The beta UI/UX met the needs of early users, but it isn’t the standard we want for a public launch. For broader scale, the interface needs to be clearer, easier to navigate, and more refined visually. The product surface is therefore one of the core areas receiving a full end-to-end refresh in this next phase.

UI/UX refresh

• Near full overhaul of the main app experience: minting, staking, stats, and program status.

YaaS interface

The current beta is focused on core protocol functionality. The YaaS interface is the next step – the surface where liquidity actually plugs in.

We’re building a dashboard where users and protocols can:

• Connect a wallet and sign in.

• Detect supported USDv positions (LP tokens, balances, treasuries).

• Prove ownership and satisfy onboarding requirements.

• Manage yield delegation addresses (same wallet or designated treasury wallets).

• End-to-end yield telemetry showing real-time streams, history, and attribution.

YaaS is the critical layer in Solomon’s design, the piece that routes yield to where USDv lives. We’re building an interface that matches its importance.

4. Dashboards and proof of reserves

Backers and integrators should have direct, ongoing visibility. The current dashboard is already better than what most offer, but we want to set a higher bar.

We’ll improve:

Public dashboards that show:

• USDv and sUSDv supply.

• High-level backing breakdown (venues, assets, T-bill share).

• Historical and current realized yield from the basis engine.

• Clear breakdown of collateral yield APY vs effective realized yield to holders.

Third-party proof of reserves, by:

• Integrating with independent custody providers to attest to assets at custodians and exchanges.

• Reconciling those attestations against USDv liabilities on-chain.

• Participating in ecosystem-led initiatives like the Blockworks Token Transparency Framework and similar efforts.

5. Infrastructure expansion and institutional integrations

The size of the raise means we have to think institutionally from day one.

Our backend is already built with modular, asynchronous components and full event replay so we can scale each piece independently and keep a complete audit trail. Here’s what we’ll be doing.

Near-term priorities

Venues / CEXs and custody

• Integrate additional custody providers.

• Onboard and connect to more CEXs and perp venues for the basis engine.

T-bills

• Complete onboarding with issuers and qualified custodians.

Redundancy and transparency

• Expand existing failover capabilities, distributed messaging, and security controls for continuous uptime.

• Implement third-party auditable trade reporting and position tracking as part of our transparency stack

6. Legal and compliance

We’ll be:

• Finalizing issuing and operating entities and clearly defining their roles.

• Publishing clear disclosures on:

  • How USDv is backed.

  • How yield is generated (basis + T-bills).

  • Where the main risks sit (venue, strategy, program, oracles).

How this all comes together

All of the work above will move in parallel. Different pieces will land at different times, but they all push toward the same goal: making USDv the primary Solana-native stablecoin and the default dollar rail for the ecosystem.

On the team side, we’re interviewing for an additional full-stack engineer to increase our shipping capacity while keeping the group small and focused.

Everything so far has been a test of execution: getting the engine live, running a year of private beta, and now closing the raise. The ICO was a big step, but still a step — it gave us the capital and the backers who share the same conviction. Thousands of people are now directly aligned around a simple idea: better dollar infrastructure on Solana, owned by the people who rely on it.

The next phase is about proving that out in production: more integrations, more USDv circulating, and more yield routed through YaaS under the guardrails we’ve outlined here.

We’ll share concrete updates as each piece lands. In the meantime, the door is open: the beta access form is live on the home page.

One of crypto’s core ideas is owning the infrastructure you use. The first ICOs made that accessible, then got gamed: back-door allocations, opaque unlocks, and misaligned incentives between builders and holders. Trust broke; capital moved to low-float private rounds at inflated FDVs, and most charts drifted toward zero. In the shuffle, stablecoins, the most used and arguably most important layer, never achieved broad, user-level ownership.

MetaDAO is a reset to first principles: a standardized process, equal terms, and ground-floor access for everyone. It adds built-in guardrails that align builders with the community. Governance is on-chain and binding, which shuts the door on rug pulls, including the slow rug.

MetaDAO matches our ethos. We chose it over a private round because scale comes from distribution, and durable distribution comes from ownership. The people who fund, use, and build the system should share the upside.

Sale Window

• When: Friday, November 14 @ 18:30 UTC through Tuesday, November 18 @ 18:30 UTC (4 days)

• Where: MetaDAO

• Commit asset: USDC

• Ticker: SOLO

TL;DR (Terms at a Glance)

• Minimum raise: $2,000,000

• Public sale supply: 10,000,000 SOLO distributed pro-rata to participants

• Liquidity at launch: Treasury pairs 20% of accepted USDC with 2.9M SOLO into DEX liquidity

• Team pre-allocation: 0 at launch; up to 12,900,000 SOLO unlockable via performance

  • Five tranches unlock at 2× / 4× / 8× / 16× / 32× of the ICO price

  • Minimum 18-month cliff, with each trigger confirmed by a 3-month TWAP

• Monthly team budget: $100k capped, drawn from the treasury and reported publicly

How the Sale Works

1. Commit USDC any time during the 4-day window on MetaDAO.

2. At close, we set the final accepted amount (the cap).

3. If commits ≤ cap, all USDC is accepted.

4. If commits > cap, everyone is accepted pro-rata and the remainder is refunded.

5. Pricing is implied by accepted USDC:

   • Price = accepted USDC ÷ 12,900,000 SOLO

   • Tokens are distributed pro-rata to participants

6. If the sale does not reach $2M, all USDC is refunded.

What Happens Right After

• Treasury setup: All accepted USDC moves into a market-governed treasury.

• Liquidity: Treasury pairs 20% of USDC with 2.9M SOLO into DEX liquidity to support trading and deepen books.

• Operations: The team draws its posted monthly budget from the treasury. Larger spends or any new token issuance require governance.

Token Supply at Genesis

• 10.0M SOLO — distributed to sale participants

• 2.9M SOLO — seeded into DEX liquidity by the treasury

• 12.9M SOLO — team performance package, locked until triggers are met

Team Performance Package (Alignment)

• Structure: 5 tranches × 2,580,000 SOLO

• Price triggers: 2× / 4× / 8× / 16× / 32× of the ICO price

• Timing: No unlocks for at least 18 months; each trigger requires a 3-month TWAP before tokens can be claimed

Why This Raise, Why Now|

Solomon has been self-funded to date. In that time we built the product and proved it in the wild:

• Mainnet closed beta for the past year with real users and seven figures in TVL.

• $28,000 in yield distributed to the beta cohort, annualizing to ~25% APY over the test period, with on-chain, multiple-times-per-week distribution to holders

• Yield engine running end to end: pricing, risk limits, lifecycle automation, and safeguards.

• Legal and custody stack live with Ceffu for segregated, institutional-grade custody.

• Programs audited, on-chain controls enforced, admin secured by Squads multisig, and public dashboards for positions

• Stable through market shocks, including the October 10 Binance price dislocation.

• Integrations across the Solana DeFi stack ready for launch so USDv and sUSDv are usable on day one.

Most teams raise to build. We are raising to scale.

Planned Use of Funds

We are raising a minimum of $2M. That is enough for a lean flywheel where we bolster up reserves, deepen our USDv liquidity and run a modest liquidity mining program. Our ideal target is $5–8M, but we will only take that amount if the sale is clearly oversubscribed by orders of magnitude. We want real unmet demand after the sale.

What the funds are for (and why it matters)

1. Day-one treasury deployment
   What: Route accepted USDC into the basis engine targeting around 16% APR.
   Why: This gets us self-sustaining economics and allows us to earn yield on our treasury day 1.

2. Seed deeper USDv/USDC liquidity
   What: Pair ~15% of accepted USDC with USDv into DEX liquidity and maintain strategic top-ups.
   Why: necessary to have a sufficient size pool in order to accommodate USDv purchase and routing that will be necessary as other USDv/token pools spin up.

3. Liquidity mining
   What: Short term selective incentives to boost yield for USDv and sUSDv. A lot of this is self sustaining as the treasure earns ~16% APY
   Why: Accelerates TVL, avoids having to pay mercenaries for short term capital.

4. Venue efficiency: custody and exchange terms
   What: Scale balances with custody providers and exchanges to improve fee tiers, withdrawal lanes, and operational priority (custom terms like ADL exceptions at exchanges)
   Why: This reduces fees and increases yield for our end users. Improves security and resiliency during market shocks

5. Margin and inventory buffers
   What: Top up reserve fund and sufficient buffer reserves for USDv redemptions
   Why: Avoids forced deleveraging, preserves the basis, and keeps redemption and arbitrage pathways open under load.

6. Security and transparency
   What: Ongoing audits, bug bounties, custody attestations, and public dashboards for positions and treasury.
   Why: Trust necessary to scale TVL and users.

7. Operations (fixed and capped)
   What: A published $100k per month team budget drawn from the treasury.
   Why: Burn stays constant regardless of round size; incremental dollars go to liquidity, yield, and resilience, not headcount.

After the raise, we will take a short window to polish the site and ship the public launch. Then USDv and sUSDv open up broadly, and Yield as a Service (YaaS) onboarding begins for the first cohort.

Own the rails you use. MetaDAO fixes the sale. Solomon fixes the stablecoin.

TL;DR

• What it is: A Solana‑native dollar system with USDv (spendable stablecoin) and sUSDv (staked USDv that accrues the yield from a delta‑neutral basis trade). For qualified holders, YaaS can stream the basis trade yield directly to USDv without staking.

• What’s live today: Everything is live today (and proven in a year-long beta). The web application. The Meteora liquidity pools. The yields and the basis trade powering them. And more.

• How it earns: Yield comes from delta neutral basis trade (spot‑long / perp‑short) across BTC/ETH/SOL majors; capture perp funding. T-bill yield is in the works.

• Safety & transparency: Segregated custody with insurance coverage + no directional risk with live accounting, third-party audits, and regular attestations you can verify.

• What’s next: MetaDAO raise Nov 14–18, 2025, then public protocol launch (USDv, sUSDv, YaaS onboarding).

Why Solomon exists

We’re building a more composable dollar. A dollar that stays at a dollar, doesn’t rebase, and earns yield. Across the defi ecosystem, from swap protocols to perp protocols, users are exposed to stablecoins that pay them no yield. Solomon changes that, giving billions in idle capital the opportunity to become productive.

In plain English: what Solomon does

• Captures funding yield from delta neutral basis trade (~16% APY)

• Passes it to the right holders: stakers (sUSDv) and eligible USDv holders via YaaS.

• Keeps dollars spendable and composable while still earning yield

What’s live today

• Engine. Custom, ground‑up orchestration: portfolio/risk (limits; concentration & exchange caps), pricing/oracle layer, position lifecycle (open/roll/close), circuit‑breakers and kill‑switches. Venue‑agnostic to allow for scalability

• Security. Independent audits are complete for the core programs and critical infrastructure, with continuous monitoring and alerts.

• Program controls. Principle of least privilege: Admin key controlled by a Squads multisig can only set roles and whitelists; asset managers can withdraw only between the protocol and approved custody addresses.

• App. Production interface with live assets/liabilities, realized & unrealized P&L, and distribution history (Peak here)

• Custody & connectivity. Live with Ceffu custody; exchange connectivity with Binance; additional venues ready to be added as we scale

• Oracles & integrations. Pyth price feeds; DEX pools live (e.g., Meteora DLMM); and more integrations queued.

• Observability. Real‑time position tracking and venue liveness checks

  • Transparency Stats

  • Distributions

How it works

• Solomon uses a two‑token design:

  • USDv — $1 stablecoin held near its peg by two‑way arbitrage. Typical entry/exit is via stablecoin pools on Solana. Approved market makers and compliant parties can mint/burn.

  • sUSDv — stake USDv to earn the yield generated from the basis trade. Rewards are dripped to the Staking Program multiple times per week to keep distributions smooth and prevent front-running.

• Yield engine. Executes basis trade (Hold +1 spot / –1 perp on majors) on CEXs; price moves offset; captures the yield generated from the funding rates. (T-Bill backing is being integrated)

• Architecture. App (dashboards & controls) ↔ Onchain vault programs ↔ Custody (CeFFU) ↔ Exchanges (Binance)

What we’ve done so far: year long beta

For the past year, we quietly deployed onchain, stood up core infrastructure, and focused on productionizing risk, limits, custody flows, monitoring, alerting, and integrations. With zero social presence, users still found us via DeFiLlama and onchain analytics, letting us operate with real users and real TVL. YTD 2025, the strategy averaged ~26% APY, with monthly distributions recorded onchain.

The protocol has been battle-tested live through one of the most volatile stretches in crypto, which included the largest liquidation event in crypto history during the Binance dislocations which occurred on 10/10. Even as the temporary depegs led to forced mass short covers, our basis engine held up with zero incidents. That stress-test is what gave us the conviction to take Solomon public.

How we’re different

Stablecoins have moved from no yield (USDC/USDT) → permissionless stake‑to‑earn (e.g., sUSDe). Solomon advances this by giving the yield directly to the dollars that are being used. Either by staking (sUSDv) or via YaaS for qualified USDv holders, without breaking spendability or composability.

Introducing Yield as a Service (YaaS)

• What it is: A programmatic yield stream paid directly to eligible USDv wallets. no staking, no lockups, no wrappers.

• Who qualifies (examples): Teams/DAOs/LPs that complete KYC/AML and counterparty onboarding.

• Capabilities: Direct 1:1 mint/burn/redeem for USDv, streamed yield directly to USDv holders

• LP “Yield Hook”: The USDv leg in a DEX pool gets a programmatic yield stream, so LPs earn pool fees + yield on that leg. No routing or contract changes. (Historically ~15% APY)

NOTE: Anyone can earn permissionlessly via staking their USDv to earn basis trade yield

Who it’s for

• DAOs & treasuries: Earn on idle dollars without lockups; opt into YaaS to receive streams directly to treasury wallets.

• DEX LPs: Layer base rate on top of trading fees for the USDv side of pools.

• Neobanks & fintechs: offer accounts where dollars auto-earn in the background. No staking, no lockups, minimal slippage, and no single-DEX reliance

Transparency & proofs

• Liabilities onchain: USDv total supply and distribution visible on Solana.

• Assets and positions: Custody statements (Ceffu), exchange position snapshots,

• Status & disclosures: Live accounting dashboard, distributions history

What’s next

• Friday, Nov 14–18, 2025 — MetaDAO raise. Full participation details, caps, and mechanics are in the separate MetaDAO post.

• After the raise — Protocol launch. Exact timing will be announced post‑raise; USDv (spend), sUSDv (save), and the first YaaS cohort will go live.

If you’re a builder, LP, or treasury and want to plug in, reach out. The stablecoin market is about to take its next step.

Solomon
Make every dollar earn
Website | @solomon_labs on X | Discord | Docs