#数字资产市场动态 Solstice's USX stablecoin reached a TVL of $310.2 million on December 28, ranking fifth among stablecoins in the Solana ecosystem and 206th on CoinGecko's overall ranking — a pretty good achievement for a latecomer. User addresses have already surpassed 24,827, indicating that this project has indeed attracted quite a few people.

How did they do it? It doesn't seem to rely on marketing. Higher yields, seamless integration with mainstream DeFi protocols, or more flexible collateral combinations — there’s definitely something that has moved users.

By 2025, the competition among stablecoins on the Solana chain will be fully heated up. USDC and USDT remain the two giants, but a large number of new players are emerging with innovative approaches: some are pursuing algorithmic stablecoins, some focus on yield generation, some support play-to-earn tokens, and others involve crypto asset collateralization. Almost all differentiated strategies you can think of are being tried.

This may not necessarily be a bad thing for the Solana ecosystem. The more stablecoin TVL there is, the more liquidity on-chain, the lower the slippage, and the more DeFi strategies can be explored. But on the other hand, participating in these emerging stablecoins requires careful attention — no detail should be overlooked, including the peg mechanism, redemption process, and risk exposure.