Stablecoin USDS Has More Than $89 Million in Circulation in Less Than 24 Hours Online at Solana
USDS issued by Sky (formerly known as MakerDAO) has surpassed $89 million in circulation on Solana in less than a day after it went live, making it the fastest growing stablecoin on Solana. Lenders of USDS on Save, Drift, and Kamino are reportedly looking to earn more than 20% as a result of the increased incentives offered by Sky, which is also encouraging traders to transfer funds to Solana through the token bridging service Wormhole, which is further increasing the supply in circulation.
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