⚡Good News: @sparkdotfi and PayPal are teaming up to increase the supply of PYUSD by $1 billion in the coming weeks!—— Many people's first reaction is "PYUSD is about to gain traction," but I am more concerned with the fact that Spark is turning "how to launch a stablecoin" into a standardized template. In the past, a new stablecoin had to rely on market makers, exchanges, and subsidies to slowly push it through cold starts. But Spark is using a reverse approach: with solid collateral assets and a lending market, it has directly built a "plug-and-play" supply and demand system for PYUSD. Currently, the borrowing rate for PYUSD is only 2.29%, and the deposit pool has already accumulated $200 million, creating a natural positive cycle of funds. I feel this model is more valuable than simply launching on a CEX, as it allows stablecoins to directly enter the blood circulation of DeFi. Whoever can be integrated by Spark will quickly grow real use cases. On a deeper level, this...
Spark joins forces with @PayPal to grow PYUSD supply by $1 billion within the coming weeks.
Having already reached 200m deposits, this milestone reflects both the demand for PYUSD and the effectiveness of Spark’s stablecoin bootstrapping framework.
15.67K
34
The content on this page is provided by third parties. Unless otherwise stated, OKX TR is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX TR. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX TR is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.