There’s a stablecoin coming to Solana that’s doing things differently
No VC money, no interest rates and no centralized shortcuts
$USV by @convergent_so is introducing a cleaner model for capital-efficient stablecoins backed entirely by @jito_sol 🧵👇
1/
Most stablecoins today are either backed by fiat, synthetic assets, or overengineered mechanisms that add unnecessary layers of risk and complexity.
$USV keeps it simple and transparent by using only JitoSOL as collateral.
Giving it native Solana yield and on-chain verifiability at all times.
2/
This isn’t just about decentralization, it’s about making the underlying collateral work for you
When users mint $USV, they’re not paying interest or giving up yield
The protocol lets them keep 100% of staking rewards from @jito_sol while still unlocking liquidity, all at 0% interest
3/
That unlocks a key advantage ➡️ capital efficiency without compromise
You get stable purchasing power in $USV while your $jitoSOL keeps accruing staking rewards in the background
It removes the typical tradeoff between yield and liquidity that most DeFi users face
4/
Unlike many protocols that raise quietly through backroom VC deals, Convergent chose a more transparent path
There were no token allocations for funds or insiders, no private rounds, and no early advantages
Instead, funding came from a community-driven NFT sale, with full transparency from the start
5/
$CVGT, the governance token, was launched in April with no presale and has already shown signs of consistent organic growth
It reached a market cap near $7M and now sits around $4.7M, with over 2,500 holders
No artificial pumps, just slow and steady progress from a committed base
6/
Beyond its structure, what makes this project credible is its integration with the Solana ecosystem
It uses @PythNetwork for real-time price feeds, ensuring accurate collateral tracking
It’s plugged into @stabble_fi and @orca_so for liquidity access, and designed for cross-chain potential through @wormholecrypto
7/
This positions $USV as more than a standalone idea, it’s being built as a native component of the Solana DeFi stack
With these integrations, users will be able to access, trade, and leverage $USV across multiple protocols without friction
It’s built to be useful, not just theoretical
8/
The protocol itself is already audited and ready for deployment, with launch expected in Q3
Once live, $USV could offer a stable and yield-aware foundation for a wide range of use cases
From leverage and LPs to payment rails and treasury management
9/
$USV is the stablecoin
$CVGT is the governance token that helped fund and shape it
Both are worth watching if you’re following serious Solana-native DeFi Ecosystems 🤝
61.68K
163
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.