USDS is offering 150-200bps over lending markets due to RWA backing.
Sky is already dominant in stablecoin deposits which imo is the most important metric in DeFi.
Expect this growth to continue.

Sky's USDS has added $1.5b in deposits this month, hitting $11.2B USDS outstanding.
In the process, they quietly blew past its previous ATH in deposits of $10.3B all the way back in 2022.

Hasu

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