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$solUSD
solUSD is the native decentralized stablecoin of Manna Protocol — soft-pegged to $1 USD and backed entirely by SOL collateral.
Token Info
| Property | Value |
|---|---|
| Name | solUSD |
| Ticker | $solUSD |
| Standard | SPL Token |
| Chain | Solana |
| Supply | Dynamic (minted and burned based on protocol activity) |
| Peg | $1 USD |
| Backing | SOL (overcollateralized, min 125% CR) |
| Custodian | None — fully non-custodial |
How solUSD Is Created
solUSD is minted exclusively by opening a Trove — a collateralized debt position on Manna:
- Deposit SOL into your Trove
- Mint solUSD up to 80% of your collateral's value (at 125% min CR)
- A one-time fee of 0.5% is charged on the minted amount
- Repay your solUSD anytime to reclaim your SOL
There is no central issuer. Every solUSD in existence is backed by at least $1.25 of SOL.
Supply
solUSD supply is entirely demand-driven:
| Action | Effect on Supply |
|---|---|
| Borrow (open Trove) | Supply increases |
| Repay debt | Supply decreases |
| Liquidation | Stability Pool absorbs debt (net neutral) |
| Redemption | solUSD burned, SOL returned (supply decreases) |
Peg Stability
solUSD maintains its $1 peg through two complementary mechanisms:
Hard Floor — Redemptions
Any solUSD holder can redeem their tokens for $1 worth of SOL at any time. If solUSD trades below $1, arbitrageurs buy it cheaply and redeem it for $1 of SOL — pushing the price back up. This creates a hard price floor at $1.
Soft Ceiling — Borrowing Cost
If solUSD trades above $1, it becomes profitable to mint more solUSD (borrow cheaply, sell above peg) — increasing supply and pushing the price back down.
Stability Pool
The Stability Pool provides system-level solvency. When Troves are liquidated, their debt is absorbed by solUSD deposited in the Stability Pool. Depositors receive the liquidated SOL collateral at up to a 10% discount.
Use Cases
solUSD is a native Solana stablecoin, compatible with the full Solana DeFi ecosystem:
| Use Case | Description |
|---|---|
| Liquidity | Provide solUSD/USDC or solUSD/SOL liquidity on Raydium, Orca |
| Lending | Lend solUSD on Kamino, MarginFi, Save (Solend) |
| Perps collateral | Use as collateral on Jupiter Perpetuals or Drift |
| Yield | Deposit into the Manna Stability Pool to earn liquidated SOL |
| Payments | Send and receive across Solana wallets |
| Trading | Stable base currency for DeFi strategies |
Getting solUSD
There are two ways to get solUSD:
- Mint directly — Open a Trove on Manna, deposit SOL, mint solUSD
- Buy on DEX — Swap on Raydium, Orca, or Jupiter once liquidity is live
Security Properties
| Property | solUSD |
|---|---|
| Custodial risk | None — no counterparty holds your collateral |
| Censorship resistance | Fully permissionless, no KYC |
| Oracle risk | Single SOL/USD price feed |
| Smart contract risk | Open source, audits in progress |
| Depeg risk | Mitigated by redemptions (hard floor) + over-collateralization |
Last updated: March 2026