Juiced USDS Yields Woo Solana Traders to Sky's Stablecoin

Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.

Solana traders are quickly embracing the newest stablecoin to join their decentralized finance fray: USDS, issued by Sky .

It's not uncommon for new token issuers to boost their asset's initial adoption through incentive payouts. PayPal's stablecoin also benefitted from juiced initial yields. Rooter said that program spent around $10 million. Sky is going a step further by incentivizing traders to move their money into Solana via Wormhole, a token bridging service. That's further boosting circulating supply.

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