Solomon Labs, a Solana-based protocol, released a complete B1 transparency filing through Blockworks on August 6, described as having zero gaps. The $SOLO token, launched on November 18, 2025 at $0.8 through a public sale on MetaDAO, raised $8 million from over 6,600 contributors with a 12.5x oversubscription, but now trades below its listing price. The protocol’s stablecoin product USDv, designed as a fully-reserved coin backed by cash and U.S. Treasuries, maintains a total value locked of approximately $1.5 million, a modest figure that contrasts with the project’s stated ambitions. The no-private-round structure of $SOLO removes a common risk factor related to early investor token unlocks, but the low adoption as measured by TVL suggests the protocol must significantly grow its user base to justify its valuation thesis.
Source: Read the original article
