---
type: entity
entity_type: company
name: "Solomon"
domain: internet-finance
handles: ["@solomon_labs"]
website: https://solomonlabs.org
status: active
tracked_by: rio
created: 2026-03-11
last_updated: 2026-04-02
parent: "[[metadao]]"
launch_platform: metadao-curated
launch_order: 8
category: "Yield-bearing stablecoin protocol (Solana)"
stage: growth
token_symbol: "$SOLO"
token_mint: "SoLo9oxzLDpcq1dpqAgMwgce5WqkRDtNXK7EPnbmeta"
founded_by: "Ranga C (@oxranga)"
built_on: ["Solana", "MetaDAO Autocrat"]
tags: [metadao-curated-launch, ownership-coin, stablecoin, yield, treasury-management]
competitors: ["Ethena", "Ondo Finance", "Mountain Protocol"]
source_archive: "inbox/archive/2025-11-14-futardio-launch-solomon.md"
---

# Solomon

## Overview

Composable yield-bearing stablecoin protocol on Solana. Core product is USDv — a stablecoin that generates yield from delta-neutral basis trades (spot long / perp short on BTC/ETH/SOL majors) with T-bill integration in the last mile. YaaS (Yield-as-a-Service) streams yield to approved USDv holders, LP positions, and treasury balances without wrappers or vaults.

## Investment Rationale (from raise)

The largest MetaDAO curated ICO by committed capital ($102.9M from 6,603 contributors). The thesis: yield-bearing stablecoins are the next major DeFi primitive, and Solomon's approach — basis trades + T-bills, distributed through YaaS — avoids the centralization risks of Ethena while maintaining competitive yields. The massive oversubscription (13x) reflected conviction that this was the strongest product thesis in the MetaDAO pipeline.

## ICO Details

- **Platform:** MetaDAO curated launchpad (8th launch)
- **Date:** November 14-18, 2025
- **Target:** $2M
- **Committed:** $102.9M from 6,603 contributors (51.5x oversubscribed — largest in MetaDAO history)
- **Final raise:** $8M (capped)
- **Launch mechanism:** Futardio v0.6 (pro-rata)

## Current State (as of early 2026)

**Product:**
- USDv live in **private beta** with seven-figure TVL
- TVL reached **$3M** (30% growth from prior update)
- sUSDv beta rate: **~20.9% APY**
- YaaS integration progressing with a major neobank partner (Avici)
- Cantina audit completed
- Legal clearance ~1 month away

**Token:** Trading ~$0.66-$0.85 range. Down from $1.41 ATH. Very low secondary volume (~$53/day).

**Team:** Led by Ranga C, who publishes Lab Notes on Substack. New developer hired (Google/Superteam/Solana hackathon background). 50+ commits in recent sprint — Solana parsing, AMM execution layer, internal tooling. Recruiting senior backend.

## Governance Activity

Solomon has the most sophisticated governance formation of any MetaDAO project — methodically building corporate-style governance scaffolding through futarchy approvals:

| Decision | Date | Outcome | Record |
|----------|------|---------|--------|
| ICO launch | 2025-11-14 | Completed, $8M raised | [[solomon-futardio-launch]] |
| DP-00001: Treasury subcommittee + legal budget | 2026-03 | Passed (+2.22% above TWAP threshold) | [[solomon-treasury-subcommittee]] |
| DP-00002: $1M SOLO acquisition + restricted incentives reserve | 2026-03 | Passed | [[solomon-solo-acquisition]] |

**DP-00001** details: $150K capped legal/compliance budget in segregated wallet. Pre-formation treasury subcommittee with 4 designates. Staged approach: (1) legal foundation → (2) policy framework → (3) delegated authority. No authority to move general funds yet.

**DP-00002** details: $1M USDC to acquire SOLO at max $0.74. Tokens held in restricted reserve for future incentive programs (Pips program has first call). Cannot be self-dealt, lent, pledged, or used for compensation without governance approval.

## Why Solomon Matters for MetaDAO

Solomon is the strongest existence proof that futarchy-governed organizations can build real corporate governance infrastructure. The staged approach — legal first, then policy, then delegated authority — mirrors how traditional startups formalize governance, but every step requires market-based approval rather than board votes. If Solomon ships USDv at scale with 20%+ yields and proper governance, it validates the entire ownership coin model.

## Open Questions

- **Ethena comparison.** USDv uses the same basis trade strategy as Ethena's USDe. What's the structural advantage beyond decentralized governance? Scale matters for basis trade profitability.
- **"Hedge fund in disguise?"** Meme Insider questioned whether USDv is just a hedge fund wrapped in stablecoin branding. The counter: transparent governance + T-bill integration + YaaS distribution make it structurally different from an opaque fund.
- **Low secondary liquidity.** $53/day volume despite $8M raise suggests most holders are passive. Does the market believe in the product or was this an oversubscription-driven allocation play?

## Timeline

- **2025-11-14** — MetaDAO curated ICO opens ($2M target)
- **2025-11-18** — ICO closes. $8M raised ($102.9M committed, 51.5x oversubscribed).
- **2026-01** — Max 30% drawdown from launch price
- **2026-02/03** — Lab Notes series published (Ranga documenting progress publicly)
- **2026-03** — DP-00001: Treasury subcommittee + legal budget passed
- **2026-03** — DP-00002: $1M SOLO acquisition + restricted reserve passed
- **2026-03** — USDv private beta with $3M TVL, 20.9% APY

---

Relevant Notes:
- [[metadao]] — launch platform (curated ICO #8)
- [[avici]] — YaaS integration partner (neobank + yield)

Topics:
- [[internet finance and decision markets]]
