Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Solana's Newest Stablecoin USDS Surpasses $89 Million in Circulating Supply on Launch Day

Solana's Newest Stablecoin USDS Surpasses $89 Million in Circulating Supply on Launch Day

CointimeCointime2024/11/20 16:44
By:Cointime

Sky's newest stablecoin, USDS, has quickly gained popularity among Solana traders in the decentralized finance (DeFi) market. Within a day of its launch, USDS's circulating supply on Solana has already exceeded $89 million, making it the fastest-growing stablecoin on the platform. Sky is spending $2 million a month to incentivize traders to swap into USDS and deploy it, and Save, a borrow and lend protocol, is handing out 400,000 worth of USDS a month to suppliers of the new stablecoin. This growth is expected in the DeFi market, and USDS has surpassed PayPal's PYUSD as the most popular stablecoin on Solana.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Announcement of Bitget spot bot on adding 2 new trading pairs

We are pleased to announce that Bitget spot bot has now added: KOMA/USDT, AIXBT/USDT. Reference 1. Spot grid 2. Crash course on Spot Grid Disclaimer Despite high growth potential, cryptocurrencies still face high risks and volatility. You are strongly advised to do your own research as you invest a

Bitget Announcement2024/12/23 08:19