Figment, OpenTrade and Crypto.com announced the product “OpenTrade Stablecoin Staking Yield Powered by Figment”, which offers a target average return of 15% APR on stablecoins for institutional clients. It converts staking rewards on Solana into a stablecoin-denominated return through a hedging strategy with perpetual futures, aiming to neutralize exposure to the token price and maintain liquidity without lockup periods.
The product by Figment leverages staking rewards on the Solana network as the primary source of yield; SOL staking rewards typically range between 6.5% and 7.5% annually, according to the product.
Figment provides the validation and rewards custody infrastructure: the company operates a dedicated validator and declares managing approximately $18 billion in assets in staking, which contributes operational scale and security expertise.
OpenTrade designs and executes the yield-generation and hedging strategy; founded in 2023 by Tom Niermann, David Sutter and Jeff Handler, the firm raised a £5.1 million (≈ $7 million) seed round in June 2025 to expand its institutional infrastructure. Crypto.com acts as institutional custodian, holding SOL assets in segregated accounts with security rights for investors, and separate from the exchange’s operating funds.
OpenTrade applies positions in perpetual futures to offset SOL price variation, transforming the volatile flow into a stable stablecoin yield. A perpetual future is a derivative without a maturity date that allows hedging or exposure to an asset’s price by maintaining continuous margin.
Risks, limitations and market context for Figment
The promoters position 15% as a historical target average, but warn that the figure is not guaranteed and depends on operational and market variables.
The final yield is conditioned by fluctuations in SOL staking rewards and by the operational effectiveness of the perpetual futures hedges; failures in hedge execution or liquidity disruptions could reduce the return.
Although segregated custody by Crypto.com reduces counterparty risk, custody never completely eliminates operational and legal risks.
In addition, the operational design faces global regulatory uncertainties that could alter operations or institutional access to the product.
The November 17, 2025 launch introduces an alternative for institutional treasuries seeking yield in stablecoins with control of exposure to cryptoasset prices, combining SOL staking, perpetual futures hedging and segregated custody.
