Sky is investing heavily in incentives to ensure USDS experiences rapid growth and adoption, leveraging a $2 million monthly budget for trader swaps and deployments.
As USDS lenders are drawn to yields exceeding 20%, the increased incentive structure makes USDS farming particularly competitive compared to USDC, the leading stablecoin on Solana.
The strategy for onboarding new stablecoins involves starting with ample liquidity and supply, followed by a growth phase focused on increasing borrowing demand.
Sky's additional strategy includes incentivizing traders to transfer funds into Solana through the Wormhole service, effectively boosting the circulating supply of the new stablecoin.
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