Solstice USX: A Solana Dollar Coin Split From Its Yield Vault
A synthetic stablecoin released on Solana in September 2025
USX is a dollar-pegged stablecoin that Solstice Finance released on Solana on 30 September 2025. USX itself is the one-dollar settlement coin, while yield comes from eUSX, which users receive by locking USX.
1. A Solana-based project from Switzerland
Solstice Finance is an onchain asset manager and DeFi protocol developed by Solstice Labs AG together with the Solstice Foundation. Its launch release was datelined Zug, Switzerland, and described backing from the digital-asset investor Deus X Capital. Galaxy Digital, MEV Capital and Bitcoin Suisse were among the investors and partners named.
On the Crypto Nation map, USX stands in Solana City, because it was first issued on Solana. The project stresses permissionless access to delta-neutral yield strategies, using Solana’s speed and low fees.
2. Two layers: USX and eUSX
USX is described as a ‘synthetic’ stablecoin, meaning it tracks one dollar through onchain assets and rules rather than bank deposits. Sources differ in detail, but its backing is described as dollar coins such as USDC and USDT, cash-like assets and tokenized US Treasuries, with reserve status shown through Chainlink proof of reserves and a separate attestation page.
Yield comes from the YieldVault. Locking USX gives eUSX, described as a share of the net asset value of a licensed yield fund. The fund uses ‘delta-neutral’ strategies, which offset price risk by pairing a spot purchase with an equal futures sale, and earns from differences in funding fees paid in futures markets.
3. Uses and milestones
Solstice formally launched USX and the YieldVault on 30 September 2025. It said it was working with more than 30 partners on integrations with Solana DeFi services, wallets and exchanges.
On 17 March 2026 it announced joining the stablecoin rewards program of the crypto custodian Copper. Institutional clients holding USX in Copper’s custody can receive YieldVault returns without handling DeFi directly, with Copper’s ClearLoop providing custody and collateral management.
4. Things to know
Return figures and track records come from the project and its partners and are not independently verified. Delta-neutral strategies can earn less or lose money depending on the market, and they depend on counterparties such as exchanges, custodians and the fund manager. Returns can change sharply when funding fees fall or turn negative. In the sharp sell-off of October 2025, another synthetic dollar with a similar design briefly slipped far below one dollar on one exchange.
Descriptions of the collateral also differ between sources, so the latest attestation page and official documents are worth checking together. It is a project barely a year old, and stablecoin rules are still being settled in many countries. This column covers Solstice’s USX on Solana, not other assets with similar names.
Written from information public up to October 2026. It does not recommend or rate any coin and is not investment advice. If something is wrong, please tell us through the contact page.