Figment & OpenTrade Launch 15% Stablecoin Staking Yield on Solana with Crypto.com Custody
Figment and OpenTrade have launched the “OpenTrade Stablecoin Staking Yield” product on Solana, offering a target 15% APR by combining Solana staking rewards with hedged perpetual SOL futures. With Crypto.com as custodian, the institutional-grade stablecoin staking yield solution provides segregated SOL custody, flexible deposits and withdrawals via Figment’s platform, and enhanced security backed by a16z Crypto and Circle. This approach historically outperforms standard Solana staking rates of 6.5–7.5% and addresses demand for compliant, staking-based yield following the US GENIUS Act’s ban on interest-bearing stablecoins. The product launch, alongside new Solana staking ETFs from REX-Osprey, Bitwise and Grayscale, underscores growing institutional interest in Solana staking. Despite SOL’s recent 19% price drop to around $135, the high-yield stablecoin staking yield strategy may attract fresh capital and boost network participation.
Bullish
The launch of a 15% stablecoin staking yield on Solana, backed by institutional-grade custody and hedged futures, is likely to drive increased demand for SOL in both the short and long term. In the near term, traders may allocate capital to capture attractive yields, supporting SOL price stability. Over the long term, the product’s appeal to institutions and its alignment with regulatory compliance (post-GENIUS Act) could enhance network participation and bolster confidence in Solana staking, underpinning a bullish outlook.