Solomon: A Stablecoin With A Moat

MetaDAO Ecosystem

Before we dive deeper into this project, here are a few references you should know. You can skip this section if you’re already familiar with MetaDAO.

Solomon launched on MetaDAO, which is arguably one of the fairest ICO launchpads available today. It uses a unique model called futarchy governance, where token holders truly own and drive the project.

Let’s take an example of the most successful project so far, Avici. It did 20x, while the team didn’t even have an allocation and still doesn’t. If they want one, they need to make a proposal through futarchy governance with community agreement to have an allocation for themselves, imagine that.

Historically, many projects launched on MetaDAO have performed well. One thing I’ve noticed is that every project has a distinct utility—such as neobank on/off-ramps, payments, AI, privacy, stablecoins, lending, and borrowing.

Everything feels intentionally coordinated toward building a complete DeFi ecosystem, which in turn creates strong network effects. The recent Avici × Solomon partnership is a great example of this in action.

So to sum up it ownership szn bro, gas gas fr fr ong.

Solomon: The backbone of MetaDAO and Solana DeFi

What solomon does?

Short answer a stablecoin offering yield, yes it boring bro but wait there something lowkey shiny here called Yaas (Yield as a service) it's the key innovation behind this stablecoin.

Imagine the stablecoin you using for LPs, on neobanks, DAOs treasury, MMs or even sitting idle in your wallet can earning yield directy without staking, no lockups, no wrappers type shi.

This unlocks an entirely new niche billions of dollars that can move freely while still earning yield.

This potentially helps secure the first small monopoly and that’s important. It’s a solid foundation, ready for the takeoff phase to find PMF and scale beyond.

Here some recap on the fundraise So it pretty much at the current price at the time this post was written, team allocation unlocks based on performance x2, x4 so there no need to worry about that. More details at this tweet

Some observations

I like how the founder Ranga actively response to the community question and i can tell that the dude is pretty sharp also has a brother who is head engineer at OpenAI, one time he tweet getting his brother on board it was a joke but still something good to know

After the fundraise, cofounder of Meteora tweet hinting that he’s open to partnering with them, which I think is very likely.

The reason i said "the backbone of MetaDAO and Solana DeFi" is that what Solomon is offering is not just a stablecoin, but an additional money printer they didn’t even know they needed.

Avici users, while spending, are also earning just by converting into USDv, which we’ll soon see in action because of the partnership.

Meteora, for example—LPs are earning on trading fees only, but if they pair with USDv, they’ll also earn on the stablecoin leg.

For treasuries like MetaDAO currently has an 11.2M USDC treasury, which provides a runway of 7 years 9 months and $120k monthly spend. If they switch that to USDV and earn ~9% APY ($84k/month) while still spending $120k monthly, the runway extends to 13 years and 5 months. That +73% increase in runway, crazy upside just a convert away especially when it’s offered by a project within your own ecosystem, so why not?

With all that the upside is real and clear the downside is capped at NAV 0.8$, now the only question left is when?

Own the stablecoin infra anon.