{"content":"Helius CEO: Solana Stablecoin Is Inevitable 💥 – A No-Brainer Play? On September 10, Helius Labs CEO Mert Mumtaz proposed a Solana-aligned stablecoin whose reserve yield would be redirected to SOL via buybacks or burns, either as a “enshrined” protocol feature or, more likely, through competing digital-asset treasury companies. “Warming up to the idea that Solana should enshrine a stablecoin,” he added. “50% burn of the yield goes back to burning SOL.” Hours later, he reframed the idea: "A DAT should do it, not enshrine it." repair it and trillions.” Why Solana Stablecoins Are Simple Mumtaz criticizes Solana for “yield leakage”: “Solana has a stablecoin that captures all yield and funds its biggest competitor!” He suggested that the US GENIUS Act makes stables swappable and that issuers would compete for market share, noting the recent “Bachelor-style” race by huge stablecoin enterprises to win business. To avoid a Solana-centric stable, use digital asset treasury businesses (DATs). The DAT is a token-buying machine.” That interpretation violates the new US statute. The July GENIUS Act classifies “payment stablecoins” as neither securities nor commodities for US federal purposes, putting them under banking authorities and distancing them from SEC/CFTC authority. A Congressional Research Service comment and other legal assessments support the statute's categorization. Stablecoin Wars Reach Solana Mumtaz’s “funding the competitor” remark targets USDC’s economics and Coinbase’s Base L2. Coinbase and Circle share USDC reserve income, a line item that has evolved into a key revenue stream USDC's conditions are obvious, but Solana purists believe it's strategically unwise to enable billions in Solana-settled stablecoin activities generate issuer profits that are reinvested in a rival's stack. Mumtaz intends to address that "simple problem" by enshrining or (more likely) market-driven competition among issuers and DATs. #SummerOfSolana? #MarketRebound #AITokensRally #Write2Earn #USLowestJobsReport $SOL $BTC ","images":["https://d2kdcqywr8ua22.cloudfront.net/uploadfile/article/blog/2025092025/09/12/10ac0290c5624704824aa7bd8ca077cf.png"],"tags":[],"tradingPairs":["BTC/USDT"],"quotearticleid":0}