The first RWA-backed synthetic stablecoin sUSD issued by Solayer will open for minting at 22:00 on October 30.

According to Deep Tide TechFlow, the first RWA-backed synthetic stablecoin sUSD issued by Solayer, a re-staking platform on Solana, will open for minting at 10:00 PM Beijing time on October 30.

The initial minting cap is set at $20 million, and users who mint their first $10,000 will receive a 10x reward. sUSD adopts the Solana Token 2022 standard, allowing users to earn 4.33% on-chain yield directly by holding sUSD, which comes from the underlying U.S. Treasury RWA token collateral. Additionally, sUSD will function similarly to sSOL, serving as a staking asset to enhance the stability and security of the Solana network.

According to reports, Solayer completed a $12 million seed round financing led by Polychain two months ago, with participation from top VC firms including Binance Labs, Big Brain Holdings, Hack VC, and Nomad Capital.