A carry-backed dollar for the Solana economy.
Deposit USDC and earn the yield Solana's markets already pay — with no bet on SOL's price.
~0%
Net APY · 51-mo backtest
No price risk
SOL fully hedged
Anytime
USDC redemption
How it works
Always on the side that gets paid.
When the market pays to be long, ksUSD earns it. When it pays to be short, ksUSD earns that. When neither pays enough, it waits in lending.
Illustrative — gap exaggerated for clarity. Full mechanism in the whitepaper.
Funding’s too small to beat trading costs, so ksUSD just earns from lending.
Deposit
Add USDC, get ksUSD.
It earns
Yield accrues into the price — automatically.
Redeem
Swap back to USDC anytime.
Backtested performance
It kept climbing while SOL fell.
$100 → $185 over 51 months · +15.6% model CAGR
~11% net APY target after collateral haircut & slippage · vs. USDC lending
SOL fell −64% from its Jan 2025 high. ksUSD kept climbing — share price tracks carry, not spot.
Simulated daily backtest, net of fees. Full methodology, costs, and risks in the whitepaper. Past performance does not guarantee future results. Not financial advice.
Hold the dollar that earns.
Put your dollars to work, and redeem them whenever you want.