Introducing Soluna, the gateway to Anchor interest-bearing assets on Solana.
After much anticipation, we are excited to announce Soluna, a cross-chain protocol to access stable, high yields on Anchor assets from Solana.
The protocol allows anyone to forward their interest-bearing assets deposited on Anchor (Terra blockchain) to the Solana blockchain. Best of all, it is done in an entirely permissionless manner using Wormhole.
The first token to be integrated with our protocol is solUST. Always redeemable for TerraUSD, SolUST is an Anchor dollar pegged to $1 UST — which accrues interest.
Soluna uses the Pylon Protocol to split the principle token’s interest and redirect it to a community-owned DAO. Then, the yield will be distributed to DAO members via veStaking on Solana.
This makes SolUST composable while still retaining its interest-bearing properties. For example, once a user bridges SolUST to Solana, it can be traded and farmed on Saber.
Keep on the lookout for updates on our socials as we race to a mainnet-beta launch.
We’ve submitted to the Convergence hackathon, go checkout out our submission!
— —> Don’t forget to vote :)
Devnet Link: https://devnet.soluna.money