Solana Integrates SEC-Approved Stablecoin
Solana Integrates SEC-Approved Yield-Generating Stablecoin
Solana has integrated $YLDS, the first SEC-registered yield-bearing stablecoin, offering users an attractive 3.85% annual percentage rate (APR). This integration marks a significant step for both Solana and the broader cryptocurrency industry, bringing regulated yield opportunities directly onto the Solana blockchain.
Key Highlights
- SEC Approval: $YLDS is the first yield-bearing stablecoin registered as a public security by the SEC.
- High Yield: Earn a competitive 3.85% APR.
- No Lockups: Access your funds 24/7 with no asset lockup periods.
- Efficient Transactions: Leverage Solana's high transaction throughput (up to 65,000 transactions per second) and low fees.
Developed by Figure Markets, $YLDS offers a compelling alternative to traditional savings accounts and bonds. The yield is calculated daily based on the Secured Overnight Financing Rate (SOFR) minus 0.50%. With SOFR currently at 4.35%, this translates to a highly competitive yield. Interest accrues daily and is paid monthly in either USD or YLDS tokens.
This integration expands Solana's already robust stablecoin ecosystem, which currently boasts an approximate market cap of $11.4 billion. Users can easily trade YLDS using USD or other stablecoins on Figure Markets' 24/7 platform, with fiat conversion available during US banking hours.
While the 3.85% APR surpasses the yields offered by US Treasury bonds (2.89% for 10-year notes and 3.24% for 30-year bonds), it's slightly below the average high-yield savings account rate of 4.75%. However, the combination of regulatory compliance, accessibility, and Solana's speed and efficiency makes $YLDS a noteworthy addition to the DeFi landscape.
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