Introduction
Solenes Overview
Solenes is a decentralized finance (DeFi) protocol on the Solana blockchain, providing a fully crypto-native approach to stable, scalable money. Built for users seeking independence from traditional banking systems, Solenes introduces USDs, a synthetic dollar backed by crypto assets and robust, automated hedging mechanisms. Designed to deliver stability and growth potential, Solenes offers an innovative yield-generating product called sUSDs, which allows users to earn sustainable rewards in a decentralized, dollar-denominated format.
Inspiration Behind Solenes
The name "Solenes" is derived from "Selene" (ฮฃฮตฮปฮฎฮฝฮท), the ancient Greek word for "moon." In Greek mythology, Selene embodies the stability and constancy of the moon, symbolizing the resilience and reliability that Solenes aims to bring to DeFi. The project reflects these qualities by offering a decentralized solution that aligns with the principles of security and financial sovereignty, essential for the evolving digital economy.
By leveraging delta-hedging techniques, Solenes stabilizes USDs, minimizing volatility by dynamically offsetting collateral value fluctuations. This ensures a dollar-pegged asset that retains its value across diverse DeFi applications, paving the way for a new, scalable, and accessible form of money that is fully decentralized and crypto-backed.
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