m3taversal
ea5a859032
- What: Rewrote mtnCapital, Avici, Loyal, ZKLSOL, Paystream, Solomon, P2P.me entities - Why: Entities had wrong parent (futardio instead of metadao), missing investment rationales, no governance activity, stale/thin content. Bot couldn't answer basic questions about MetaDAO launches. - Changes per entity: - Corrected parent: [[metadao]] (curated launches, not futardio permissionless) - Added launch_platform, launch_order fields for proper sequencing - Added investment rationale from original raise pitches - Added governance activity tables (buybacks, restructuring, team packages) - Added open questions and competitive context - Removed hardcoded prices (live tool handles this) - Sources: X research, decision records, source archives, web search Pentagon-Agent: Rio <244ba05f-3aa3-4079-8c59-6d68a77c76fe>
100 lines
5.4 KiB
Markdown
100 lines
5.4 KiB
Markdown
---
|
|
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]]
|