Solomon

Solomon is a synthetic dollar protocol built on Solana. It offers a globally accessible dollar-denominated instrument - USDv. Leveraging Solana's high throughput and low transaction costs, Solomon will create the first scalable, Solana-native, yield-bearing stablecoin used across DeFi and CeFi. Stability for USDv is maintained through the use of delta-hedging derivatives positions against protocol-held collateral (e.g. long SOL, short SOL futures). This ensures stability for USDv holders, while generating a yield from the open delta neutral position. Staking USDv (sUSDv) allows users to access the combined yield derived from staked Solana assets (e.g., staked SOL) and the funding & basis spread from perpetual and futures markets.