A hedged SOL staking model underpins the new yield product, debuting amid rising institutional demand for regulated access to Solana’s network rewards.
News
Figment and OpenTrade have introduced “OpenTrade Stablecoin Staking Yield,” a new stablecoin yield product that targets a yield of 15% by utilizing Solana staking returns, with Crypto.com providing custody for the underlying assets.
According to Monday’s , institutions deposit and withdraw stablecoins, while the yield is produced by Solana () staking rewards and an offsetting perpetual-futures hedge run by OpenTrade. Deposits and withdrawals are handled through Figment’s platform, with the strategy executed in an OpenTrade-managed vault.
Figment said the strategy has historically delivered returns above Solana’s typical 6.5% to 7.5% staking rate.
Jeff Handler, OpenTrade’s co-founder and chief commercial officer, said the new product provides companies with access to a unique type of yield opportunity not available through traditional real-world assets (RWA) or decentralized finance (DeFi) routes.
Figment is a major institutional staking provider with $18 billion in assets under stake, while OpenTrade operates a platform for onchain and RWA–backed lending and stablecoin yield products.
Related:
With the passage of the US in July, stablecoin issuers gained a clear, federally mandated regulatory framework that has helped spark growth in the asset class, but the law also prohibits stablecoin issuers from to tokenholders.
As a result, some institutions have shifted toward staking-based returns, with Solana drawing strong interest through newly launched staking exchange-traded funds (ETFs).
The first , when REX-Osprey’s SSK fund began trading, and by July 22 it had surpassed $100 million in assets under management.
On Oct. 28, that debuted with more than $220 million in assets. The following day, (GSOL) began trading on the NYSE Arca platform.
With these products, the SOL held by the fund is staked to help secure the network in exchange for rewards. Grayscale returns about 77% of those to shareholders, while Bitwise distributes 72% and retains the remainder as part of the fund structure.
Despite increased regulated access to Solana staking rewards, the price of SOL has struggled recently. At the time of writing, SOL was trading around $135 per token, down about 19% over the past two weeks, according to from CoinGecko.
Magazine:
