🧵 $SOLO Deep Dive / What To Watch For TLDR: 1/ Two very strong narratives beyond tech 2/ Team has been building for a year pre token 3/ Indicators to watch to size in & comparisons to $FRAX / $ENA 4/ $SOLO below ICO price 5/ Some apprehensions 6/ My gameplan

There are 2 other reasons/narratives for $SOLO to get significant bids besides how solid the tech itself is - as we all know degens mostly do 5min research before clipping their daily depreciating SOL stack.

1/ I can't ignore the "Peoples $ENA" as $AVICI pioneering the "peoples bank" It feels a very middle finger trade for me, everything within @MetaDAOProject does. The fairest launches, with the background of retail getting cucked on $ENA, $XPL, etc, you name the high FDV alt. Especially if the protocol proves a positive TVL trajectory, it will start getting compared to the valuations of $ENA, $FRAX, etc. Middle finger trades are very real phenomena in crypto I've learned to not fade

2/ This is the first scalable Solana-native yield-bearing stablecoin. I almost can't see a future where @solana team doesn't push this hard. Solana is obviously watching. Feels inevitable if the team executes.

Other things I really like: 1/ The protocol was in private beta with real users for about a year before public launch around November 2025 2/ Although the team/contribution allocation is 50% - It's unlocked in 5 tranches on "performance-based vesting" Tranche 1 → unlocks at ≥2× ($0.40) Tranche 2 → unlocks at ≥4× ($0.80) Tranche 3 → unlocks at ≥8× ($1.60) Tranche 4 → unlocks at ≥16× ($3.20) Tranche 5 → unlocks at ≥32× ($6.40)

Things that I'm neutral/ apprehensive about: -How they will manage in deep bear market with perpetual negative funding rates (T-bills integration coming soon) - TVL/MC ratio currently "expensive" -The economic model is deliberately designed so that 100% of the core yield currently goes to USDv holders, $SOLO is meant to perform well later if protocol finds greater success. Currently the only revenue stream for $SOLO holder is YaaS (Yield as a service)

What exactly is $SOLO YaaS (Yield as a service)? Yield as a Service (YaaS) is Solomon Labs' permissioned, enterprise-grade onboarding track for large capital providers who want the exact same USDv yield (currently ~16–20% APY from basis trades + upcoming T-bills) but either: 1/ Cannot or do not want to self-custody on-chain 2/ Prefer off-chain/legal-entity rail with KYC/AML compliance Solomon charges 25–100 bps (0.25–1.00%) annual fee on the managed TVL This means: $100 M in YaaS TVL at 50 bps fee = $500 k annual revenue → treasury $500 M in YaaS TVL at 50 bps = $2.5 M annual revenue → treasury $1 B in YaaS TVL at 50 bps = $5 M annual revenue → treasury $SLO holders can then propose & pass: Buy back & burn $SOLO Direct USDC distributions to $SOLO holders Build protocol-owned liquidity Insurance fund, marketing, etc.

Understanding $SOLO "fee switch" through @Frax @samkazemian founder of @Frax: "We kept the core products feeless for years to win the war, now that we have the liquidity and flywheel, we turn on the revenue for token holders." This is exactly the Solomon playbook, verbatim from their docs and team AMAs: Phase 1 (now): USDv is 100 % feeless for retail → maximum composability → fastest possible TVL growth. Phase 2 : Once USDv is dominant on Solana (hundreds of millions or billions in TVL), $SOLO governance flips the fee switch → e.g. 5–20 bps mint/redeem fee or performance fee on the yield → treasury fills → buybacks/burns/distributions → $SOLO becomes a real-yield asset. The Solomon team has repeatedly said in writing: "This is a future lever the protocol can pull when the time is right — just like Frax did." (when Frax did it, the token 5–10×'d in the following months)

Key Indicators to Monitor for Success / Scaling / $SOLO Price Appreciation: 1/ TVL Increasing (and TVL/MC ratio) (incredible dashboard by @solomon_labs themselves) 2/ YaaS cohort announcements / permissioned TVL (Team posts cohort sizes or "X treasury deposited $Ym via YaaS") 3/ Sustained or increasing APY (f APY stays 12–20%+ while TVL scales = basis desks + T-bills working perfectly → viral retail inflows) 4/ Governance proposals that are value-accretive First buyback proposal, burn proposal, or "fee switch" discussion = massive catalyst 5/ Further vocal support from @solana

My Gameplan: Took a starter position on $SOLO @ 10mil - Good number, 40% off highs, ICO is in the red here, if dips lower happy to buy more especially with the TVL/MC ratio getting closer to 5x - Will watch the TVL carefully and add aggressively on traction and as TVL/MC becomes more favorable/ anticipating the fee switch for $SOLO

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