
Subscription Process:

1
User Locks USDC:
The user locks USDC to initiate a transaction. This action creates a quote that specifies the amount of USDC, the expiry time, and the commission rate for the trade.
2
Fulfillment by Qualified Liquidity Provider (Buy Order):
The qualified liquidity provider fulfills the buy order by transferring the USDC out and sending back a wrapped T-Bill (tokenized representation of a T-Bill) as proof.
3
Forwarding Wrapped T-Bill:
The decentralized T-Bill RFQ (Request for Quote) protocol forwards it to the sUSD minting program, locking it there in the process.
4
Minting sUSD:
The Solayer sUSD Program mints sUSD based on the value of the wrapped T-Bill, maintaining a 1:1 price peg with USDC.
5
Delegate sUSD to Secure Exogenous AVS (Coming Soon):
The user can delegate sUSD to secure our exogenous AVSs (exoAVSs) when it goes live.
6
Redemption Process:

1
User Sends Back sUSD to Kickoff Withdrawal:
The user sends back sUSD to the Solayer sUSD Program to initiate the withdrawal process. This action signals the start of the withdrawal procedure.
2
Protocol Calculates and Sends Wrapped T-Bill:
The Solayer sUSD Program calculates the corresponding amount of wrapped T-Bill that needs to be redeemed based on the user’s withdrawal request. The wrapped T-Bill is then forwarded to the Decentralized T-Bill RFQ Protocol.
3
Qualified Liquidity Provider Fulfills the Withdrawal Order:
The Qualified Liquidity Provider receives the wrapped T-Bill and fulfills the withdrawal order. This involves transferring out the wrapped T-Bill and sending the equivalent amount of USDC back to the protocol.
4
USDC Returned to the User:
After the liquidity provider fulfills the withdrawal order, the decentralized protocol returns the corresponding amount of USDC to the user, completing the withdrawal process.