CMO @solomon_labs | Investing @monkeventures | Prev. @MagicEden, @MultiChain, @Merck | Opinions my own
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Joined October 2015
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I’m VERY excited to announce I’m joining @solomon_labs as CMO!
There have been a few clear winners going into the next cycle: RWAs, perps, stablecoins.
There is one jarring problem with stables today: holders put up all the risk, issuers get all the upside. More than $10 BILLION of it annually.
Every stablecoin is effectively a loan. The holder is the lender. The issuer keeps the interest.
If you want any upside, it means staking, wrapping, trusting 5 smart contracts.
Solomon’s stablecoin $USDv, soon to launch publicly, flips this on its head: a single user opt-in means earning by default… indefinitely.
Using any other stable is leaving money on the table, and you don’t need to change how you behave onchain.
Earn:
• In your wallet
• In an LP
• In a lending market
• As idle liquidity
The big picture with Solomon is more than just USDv. USDv is a showcase of an engine that can power any asset and allow users to route their rewards.
In a future state, this COULD look like:
• Hold a tokenized stock in wallet 1
• Receive a dividend to wallet 2
• Choose to receive the dividend in $ANSEM, $CARDS, $SOL or any other currency
Excited to be building this future on @solana as part of the @MetaDAOProject ecosystem. The $SOLO token represents ownership onchain in this journey, which means no token games or gimmicks. A real breath of fresh air for me.
A big thanks to @oxranga and team for the opportunity.
If you made it this far, be sure to give @solomon_labs a follow!
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USDv changes what a quote asset does. Launching a token paired with USDv and that side of the pool earns continuously.
Projects can now fund themselves from their liquidity instead of selling into it.
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The only stablecoin that earns all the time, in any context.
solana:USDvUSpnhCr9yBgj3UyVrD239HRUv4RsHwH2FxsWuMk, powered by Solomon.
Now live on @solana.
As more assets move onchain, they need a solution to attribute and route rewards for productive variations like stocks with dividends.
The answer is @solomon_labs.
Few.
Will be in London for 10 days to attend @hackerhouses and @SolanaEvents.
If you are on the edge about attending Breakpoint, I would urge you to do what you can to go.
Physical events are a cheat code in general. You get more access to tapped-in individuals with whom you can build much deeper relationships.
It is a great opportunity to cut through the noise that can tend to overtake the timeline or group chats and get to new ideas, richer context and a generally better understanding of the space, where you fit in it and how many cool things are happening around you.
This will be my 5th Breakpoint, and I'm looking forward to new announcements and time with old friends!
Solana’s next titan is being built in plain sight, and I don’t think most people have caught on yet.
The past couple of weeks at @solomon_labs have been pretty incredible. We’ve launched solana:USDvUSpnhCr9yBgj3UyVrD239HRUv4RsHwH2FxsWuMk publicly and started putting real capital and partnerships behind something I’ve been excited about since joining: your dollar should be productive without you having to change how you use it.
A quick look at where we stand:
• USDv launched on Solana through @sunrise, with $5M+ entering circulation in its first hour.
• Three independent security audits are complete, including the latest review by @zenith256.
• @Raydium committed an initial $1M of treasury capital and is becoming USDv’s primary liquidity venue, with support for USDv pairs across its markets and launchpads.
• @onrefinance has already allocated $1M to USDv as part of the collateral backing ONyc.
• @MetaDAOProject will convert up to $2M of treasury USDC into USDv.
• @orogoldapp announced GOLD/USDv pools, bringing productive dollars into onchain gold liquidity.
For a dollar that only launched publicly last week, that is a hell of a starting point.
These announcements are the opening steps in relationships we’re continuing to build. There are deeper ties forming with Raydium, OnRe, Sunrise and our other partners, with a lot more we want to accomplish together. The initial allocations and markets give us somewhere to start, and I’m excited to share more as that work develops.
It’s worth understanding why these teams are choosing USDv, because the same benefit applies to your own dollars.
Opt in once and eligible USDv balances can earn while remaining liquid and usable across supported wallets, LP positions and integrations. The dollar side of a liquidity pool can earn alongside swap fees. Treasury capital can stay available while producing rewards. You don’t need to stake, wrap or lock your dollars to participate.
Teams are already putting millions behind that proposition. I think the appetite for productive assets is going to become much more obvious as people see what this means for the positions they already hold.
And that opportunity extends well beyond USDv.
The Solomon Platform lets issuers program an asset’s economics and rules, track who is entitled to what as it moves through different contexts, and route those economics where they belong. USDv demonstrates what that can do for dollars. The same infrastructure can support other productive assets, including tokenized stocks with dividends to distribute.
The network we’re building around USDv gives us a way to help those assets grow as well. Relationships with liquidity venues, applications and asset issuers can create distribution for future assets using Solomon, giving them access to an ecosystem we’re already working to connect.
Seeing that take shape with some of the biggest teams on Solana, this early, is a huge part of why I’m excited about where we’re headed.
If you’re holding idle USDC or USDT, take a look at USDv. Swap into USDv, opt in to rewards, and put those dollars to work.
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$1M of treasury capital from @onrefinance, the largest RWA platform on @solana, is now in USDv.
That capital forms part of the collateral backing ONyc while earning rewards for OnRe.
This initial allocation marks the first step in a broader collaboration with OnRe.
OnRe has converted an initial $1M of its treasury from USDG into USDv, expanding the composition of the collateral backing ONyc.
The position accrues rewards to OnRe and marks the first step in a broader collaboration with @solomon_labs.
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Oro backs $GOLD, the largest tokenized gold protocol on @solana, with USDv.
USDv improves its liquidity and economics by making it more productive.
Gold just got more liquid.
$GOLD × $USDv liquidity pools are coming to @solana.
Deep liquidity for onchain gold. Better capital efficiency. More ways to put gold to work.
@solomon_labs
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Opt in once. Keep using your dollars.
USDv earns in the background. No staking, no vaults, no lockups.
Your dollar stays a dollar. It just keeps earning.
Congrats @zcabrams. We share that mission at Solomon. Money can be better, and the time to build it is now.
Our thesis for getting there: one asset, many economic relationships.
The businesses that make a dollar useful should have control over how they participate in its economics and share that value with their users. We’re building the layer that makes that possible.
We should probably talk.
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⚡️ NEW: Solomon Labs has launched USDv on Solana, a stablecoin designed to remain productive across wallets, liquidity pools and other onchain positions.
@Raydium is allocating $1M of treasury capital to USDv, while @MetaDAOProject has proposed moving $2M of treasury USDC into the stablecoin.
We sat down with @solomon_labs CMO @PapiChuloGrim to break down the launch, how USDv works and the broader infrastructure Solomon is building for productive onchain assets.
Full interview:
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USDv represents a revolutionary idea that shouldn't be revolutionary: your dollar should be productive by default.
This would not be possible without our programmable monetary policy engine: the Solomon Platform.
This assures ownership of any asset can be tracked through all contexts (in a wallet, in an LP, looped, etc.) and the economics owed can follow along while abiding by any additional policies and parameters set by the issuer.
We are using USDv as an initial showcase of this, but the Platform can be used for any productive asset, from tokenzied stocks that route dividends onchain to reflection tokens and more.
A better dollar that makes all of your holdings and positions more productive.
A programmable layer that can make any asset productive and any productive asset intelligent.
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USDv is a dollar that earns while you use it
Stoked to be supporting the team at @solomon_labs
Cooking 🧑🍳
Have always been a fan of stablecoins that use the blockchain elegantly
In the past we seeded a project called fluidity that was able to do similar things with their stable but I think it was just too early
Idea is your stables can be anywhere (in an amm, in your wallet, in a limit order, etc.) but they should still always be earning interest without the "price" of them being weird
like staked usd products tick up but who wants to have a dollar thats worth $1.31 and then $1.33 a few months later. Very hard to reason with.
So just use your dollars as you would and claim the interest elsewhere. Can be interesting for projects like jup as they could make a rev share agreement for all the usdv users put in their pools.
Got a small bag as it was trading around the original metadao launch price
Raydium commits an initial $1,000,000 of its treasury to USDv.
The first step in a broader partnership, with Raydium becoming USDv’s primary liquidity venue and supporting USDv pairs across its markets and launchpads.
USDv launches tomorrow.
This is an important one.
Raydium is adopting USDv for its treasury, starting with $1,000,000, and enabling USDv as a stable quote asset across its markets and launchpads.
This isn’t just about USDv as a productive asset. Raydium will be using Solomon’s platform services to decide how USDv’s economics benefit traders and liquidity providers at a granular level.
For the first time, dollars sitting in a trading pair can earn while providing liquidity. Raydium can then direct that income toward LP rewards, trader rebates and incentives for new markets.
To me, bringing this to a venue at Raydium’s scale is a paradigm shift. It’s adoption of both the dollar and the infrastructure that gives platforms control over its economics.
There’s more to share as we roll out the details.
The Raydium team is goated. Some of the best operators we've worked with. @0xINFRA @mst1287
Raydium commits an initial $1,000,000 of its treasury to USDv.
The first step in a broader partnership, with Raydium becoming USDv’s primary liquidity venue and supporting USDv pairs across its markets and launchpads.
USDv launches tomorrow.
Papi retweeted
Raydium commits an initial $1,000,000 of its treasury to USDv.
The first step in a broader partnership, with Raydium becoming USDv’s primary liquidity venue and supporting USDv pairs across its markets and launchpads.
USDv launches tomorrow.