So today @xeetdotai launched their official tournament for @solsticefi 🔥
The top 100 players on the leaderboard will earn 1% of the SLX token supply (huge)
The top 25 players every two weeks will also earn USX (their stablecoin) rewards
After some quick research on Solstice, here’s what I found:
> USX is their synthetic stablecoin (backed 1:1 with USDC & USDT)
> The YieldVault is built for yield through hedging & arbitrage
> Chainlink provides proof of reserves & cross-chain movement (this is good!)
> Custody is supported by Ceffu & Copper for retail AND institutional users
> They're targeting over $100M TVL at launch
Some are calling Solstice the “Ethena of Solana” with potential to shake up the stablecoin industry
We’ll see how it plays out 😁
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