30s Summary

Solayer and OpenEden plan to launch a new coin on Solana named sUSD. Backed by US Treasury bills, the coin aims to provide steady income and offers a new way to invest in ‘tokenized real-world assets’ (RWAs). For as little as $5, investors can start earning from these RWAs. Restaking, or using a pre-invested token to secure other platforms, is a significant aspect of Solayer’s operation. With estimates of a potential expansion of the market for tokenized RWAs reaching $30 trillion by 2030, the introduction of sUSD could capitalize on the trend.

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Solayer and OpenEden are set to launch a new coin on Solana (SOL) that will earn you steady income. The coin, labelled sUSD, is backed by US Treasury bills, giving it a real-world anchor. This is the first of many similar coins, known as ‘tokenized real-world assets’ (RWAs), that Solayer is planning to introduce on Solana. Anyone with just $5 can get started investing in these RWAs, starting off with US Treasury Bills.

In simple terms, Solayer operates on Solana and focuses on restaking (re-investing) protocol, while OpenEden is about tokenizing RWAs.

Here’s how it works: you put down USD Coin (a stablecoin, always equal to $1) in the sUSD protocol. Then, you’re matched with an RWA that has been tokenized, and that’s when you receive your sUSD (an easily convertible RWA token). So far, Solayer has managed to help people reinvest nearly $300 million in total value with the SOL token.

Restaking is basically where you use a token that you’ve already invested (or ‘staked’) elsewhere to secure other platforms at the same time. EigenLayer, a big player in restaking, has secured many third-party systems using about $11 billion of re-staked money on Ethereum.

It’s worth mentioning that the market for tokenized RWAs could potentially expand massively by 2030 — we’re talking a 50-fold increase. Bigger corporations and consultancy firms estimate that RWAs, which count financial assets, commodities and art among their numbers, could represent a worldwide market opportunity of $30 trillion.

As of now, stablecoins are the most popular kind of tokenized RWAs. But there’s a growing demand for tokens tied to very liquid, income-earning assets, like US Treasury bills. Right now, the biggest funds in this category are the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and the Franklin OnChain US Government Money Fund. These two have assets under management worth about $520 million and $440 million, respectively.

Source: Cointelegraph