Stablecoin season continues on Solana.
Here’s what you might’ve missed last week:
→ The first U.S. state-issued stablecoin, FRNT by the Wyoming Stable Token Commission, is coming to Solana.
→ ~62% of USDG's total supply is now on Solana, making it @global_dollar's biggest chain.
→ $750M USDC was minted on Solana in ~30 minutes, marking one of the largest single-day issuances on record. (s/o @range_org)
→ Solana has had ~3.3M USDC senders in August so far - the highest of any chain. (s/o @token_terminal)
→ @hylo_so crossed $20M in TVL, with hyUSD maintaining ~175% collateral ratio and sHYUSD at ~15% APY.
→ Alpha for the yield maxis: You can borrow USDC on @KaminoFinance at zero cost and earn over 22% by looping with ONyc by @onrefinance 👀
→ Solana Stable Future - a stablecoin-focused event with 250 builders and institutions is happening on Sept 23 in Seoul 🇰🇷. Reach out to @YouKnowEno to speak or sponsor.
What are you most excited about? Let me know in the comments👇
PS: If you're in LA building something cool around stablecoins, Solana, or crypto in general - do reach out to me!
Another solid week for stablecoins on Solana!
Stablecoin supply on @solana added ~$1B in a week. That’s ~10% growth in 7 days.
@SquadsProtocol partners with @coinbase to make USDC the default stablecoin across Altitude, Fuse and Grid.
@Bullish goes public with $1.1B raise, announcing migration to Solana stablecoins for exchange infrastructure.
Cross-chain data on apps with the highest stablecoin tx count (last 30D) shows @JupiterExchange at #1 (+15%) and @MeteoraAG at #4 (+102%). 2 of the top 10 apps are on Solana.
SYRUPUSDC by @maplefinance goes live on @DriftProtocol offering 7–8% yield for perps traders.
Solana leads USDC adoption ~50% of transfers and the highest monthly sender count across all chains (@tokenterminal).
@BitPay now supports USDC and USDT on Solana for spending and swaps.
Anything important I missed?
Do share in the comments👇
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