AbraFi, a newly announced synthetic asset tokenization platform on Solana, debuted at the Solana Breakpoint conference as disclosed by Abra CEO Bill Barhydt. The project will launch as a DAO rather than a corporate entity, with AFI tokens entitling holders to the majority of protocol revenue and governance rights.

The first product, USDAF, is a synthetic dollar collateralized by a mix of SOL, USDT, USDC, and other assets, with a delta-hedged structure and price anchoring via established DeFi protocols. A staking version, SDAF, will follow.

AbraFi is in a seed round, targeting an early public rollout around January 1, with a parallel assessment of an IPO in Q1 next year.