Author: On-Chain View

Looking back at what Solayer has done over the past six months, it seems quite scattered at first glance, from hardware-accelerated chains to liquidity staking to real yield stablecoins, and then to on-chain debit cards, it appears to be aiming for a "unified financial infrastructure," having long lost the purity of a high-performance layer 1. How should we view this?

In simple terms, Solayer's approach is very clear: instead of making single-point breakthroughs, it is laying out a full-stack product line, directly aiming for the "financial operating system" of the Solana ecosystem, to achieve a closed loop from underlying technology to end-user consumption.

sSOL liquidity staking + sUSD yield stablecoin + InfiniSVM high-performance TPS chain + Emerald debit card, these four product lines seem unrelated, but they cover the complete chain from infrastructure layout, asset appreciation to payment consumption.

1) Interestingly, the design of sUSD, based on the real yield of short-term U.S. Treasury bonds, directly impacts the "lay flat" stablecoins like USDC with a 4% T-bill yield.

I have previously written about the vast market space for yield stablecoins. sUSD reached a TVL of $32M in just three months, which indirectly supports this judgment. This approach of packaging traditional fixed-income financial products as on-chain native assets can bring real and sustainable sources of income to the Crypto world, aligning well with the current market needs during the integration phase of TradiFi and DeFi.

2) The claim of over 1 million TPS performance breakthroughs may sound impressive, but beyond the numbers, the hardware acceleration + SVM-compatible InfiniSVM expansion solution gives a strong sense of serving the future "super chain."

I have emphasized this point in previous writings; although the Solana mainnet's approximately 4,000 TPS is sufficient for most application scenarios, when serving future high-frequency DeFi interactions, professional on-chain gaming, high-frequency arbitrage MEV, and instant payments—scenarios that are extremely sensitive to latency—InfiniSVM's extreme pursuit of performance will come into play, similar to the approach of Sonic SVM focusing on gaming scenarios.

However, whether the foundational infrastructure is overperforming or underperforming needs further market validation; there must be enough developers and various high-frequency application scenarios to land.

3) The design of sSOL is also quite good, with the clever aspect being the construction of a dual yield mechanism of staking + restaking. After users stake SOL to obtain sSOL, these sSOL will also be automatically restaked into the InfiniSVM network to provide security verification services, creating a combined effect of SOL native yield + Solayer ecosystem incentives.

In fact, this design of combined yield effects is very attractive, already having over 300,000 users and more than $500 million in TVL, providing good DeFi composability for sSOL.

4) The concept of "on-chain debit cards" is not particularly new, but the differentiation of the Emerald card lies in its deep integration with Solayer's own yield-generating assets, meaning users can maintain their original yield experience during the consumption process.

Imagine this: users put their funds in sUSD to earn interest, and when they need to spend, they can directly swipe their card, creating a "spending while earning" experience. The entire process is traceable on-chain, and the yield continues to accumulate. Moreover, the Emerald card supports coverage in over 100 countries, ATM withdrawals, compatibility with Apple/Google Pay, and other basic configurations, which will lead to a rapid penetration speed. The increasing number of bloggers sharing their debit card experiences is evidence of this.

In summary, Solayer has adopted a four-in-one full-stack strategic product line development, attempting to create a closed-loop financial consumption ecosystem. Compared to a purely high-performance public chain narrative, this positioning of a financial operating system indeed adds a lot of imaginative space.

However, regardless, InfiniSVM is the core mainline of Solayer's development; only when the ecosystem of this hardware-accelerated chain is truly activated can the other laid-out product lines gain corresponding synergistic benefits.

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