Ethena’s USDe beats DAI to become 3rd-largest stablecoin
The CeDeFi stablecoin has attracted billions of inflows due to double-digit staking yields.
Auto Added by WPeMatico
The CeDeFi stablecoin has attracted billions of inflows due to double-digit staking yields.
Ethereum reclaimed the top position against Tron on Nov. 21, and the gap has only widened since.
Sky is offering $500,000 in USDS rewards for early adopters and stablecoin liquidity providers.
Rune Christensen proposed a deflationary model for Sky, halting token emissions and aligning with MakerDAO’s original supply reduction vision.
Maker rebranded to Sky just two months ago in August as part of its Endgame overhaul, but there has been some resistance.
BitGo’s USDS stablecoin will challenge major issuers like Circle and Tether, aiming to distribute up to 98% of earnings to network supporters.
A “decentralized governance” body could decide the fate of frozen USDS if the stablecoin goes ahead with a freeze feature, says Sky co-founder Rune Christensen.
The plan would create markets for DAI-replacement USDS on Aave.
The new USDS stablecoin from Maker, now Sky, has a freeze function which the project’s founder claims won’t be part of the token at launch.
Maker is also rebranding the world’s largest decentralized stablecoin ahead of the launch of its governance token, SKY.
