Solstice to unveil ecosystem token 'SLX' on the 22nd

Solana-based DeFi project Solstice will unveil the ecosystem token 'SLX' on the 22nd (local time). The plan is to implement the 'base yield layer'—equivalent to government bonds and money markets in traditional finance—on-chain. SLX will be launched through the decentralized funding platform Legion.

Solstice is a project that has built yield and collateral infrastructure centered on the Solana-native stablecoin 'USX'. Since its launch on September 30 last year, USX surpassed total value locked (TVL) of 325 million dollars within just a few months, establishing itself as the largest stablecoin in the Solana ecosystem.

Solstice aims to move beyond simple yield products and become core infrastructure of the Solana decentralized finance (DeFi) ecosystem. Users can repeatedly build positions collateralized by USX, and it also offers a structure that separates eUSX issued through staking into principal tokens and yield tokens for operation. According to Solstice, assets deposited in the protocol have already exceeded 60 million dollars.

The SLX being unveiled will serve as a utility token connecting this ecosystem. It will be used not only for governance participation but also as a key pillar for incentive design and long-term ecosystem alignment.

A Solstice representative said, "Venture capital was not included in the equity structure," and added, "Institutional participants will also participate in this token sale under terms that are the same as or even less favorable than individual investors."