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Figure Heloc Solstice Finance Launches USX, Solana’s First Native Stablecoin $160M TVL on Day One
Ryan Moore 
A Big Moment for Solana DeFi
Solana just got its own homegrown stablecoin. Solstice Finance, the onchain asset manager backed by Deus X Capital, has officially launched USX, a Solana-native stablecoin that’s already made waves pulling in more than $160 million in total value locked (TVL) at launch. Alongside USX, the team rolled out YieldVault, a product that gives users access to institutional-grade returns, all directly on Solana.
USX isn’t just another stablecoin it’s designed to stay native to Solana, offering deep composability and real yield through Solstice’s ecosystem. At launch, it already counts backing from major names like Galaxy Digital, MEV Capital, Bitcoin Suisse, Auros, and Deus X Capital, giving it serious institutional credibility.
Solstice’s approach is anything but experimental the firm’s strategy has reportedly delivered a 13.96% net IRR with no monthly losses since inception. That’s rare territory in DeFi, where volatility and uncertainty are often part of the deal.
Why USX Is Different
Solstice’s CEO and co-founder Ben Nadareski summed it up neatly: “Legacy stablecoins still dominate the market, but none of the top ones were born on Solana and none offer native yield. That means capital is constantly being bridged out of Solana to chase returns elsewhere. USX was built to solve that a stablecoin that stays native, transparent, and yield-generating from day one.”
That’s the gap Solstice wants to close keeping liquidity inside the Solana ecosystem while making it productive. And judging by the launch numbers, it’s hitting the right note with users.
Lily Liu, President of the Solana Foundation, echoed that sentiment, saying, “Solstice is driving real, sustainable onchain revenues within the Solana ecosystem. The launch of USX and YieldVault opens up new opportunities for builders, users, and investors alike.”
Inside the Solstice Ecosystem
Here’s what’s under the hood of this new Solana-native financial stack:
- USX – A synthetic stablecoin designed for high-speed, transparent use across Solana, backed 1:1 by stable collaterals and verified via Chainlink’s real-time Proof of Reserves.
- YieldVault – Solstice’s flagship yield product that delivers institutional-grade, delta-neutral returns. The vault has posted consistent profits 21.5% performance in 2024, with zero down months in its history.
- SLX Token (Coming Soon) – Solstice’s upcoming utility token will use a community-first distribution model no VC allocations, aiming to align incentives with long-term users.
- The Team – Over 30 contributors across 10 countries, including veterans from Solana Labs, Coinbase, Galaxy Digital, BlackRock, ConsenSys, and Deloitte blending DeFi innovation with TradFi experience.
Users can now deposit USX into YieldVault, receiving eUSX in return a token that tracks the net asset value of the underlying yield fund. It’s all permissionless, transparent, and open to anyone, whether you’re testing with $5 or managing $50 million.
A Native Yield Layer for Solana
The launch feels like a major milestone for Solana’s DeFi scene. Instead of relying on bridged stablecoins from Ethereum or other ecosystems, USX brings stability, yield, and credibility directly on-chain something Solana’s fast-growing user base has been missing.
“Solstice Labs is now working with over 30 partners in the ecosystem,” Nadareski shared. “We’re excited to finally have USX live and in the market, bringing best-in-class yield to everyone. Whether you’re a retail user or an institutional player, Solstice makes delta-neutral, institutional-grade returns accessible to all.”
With USX now officially live, Solana DeFi just got a serious upgrade a stablecoin that’s fast, composable, and built for real yield, not just speculation.
Users can access USX and YieldVault now at solstice.finance or follow @solsticefi on X for updates.
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