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In less than 24 hours after the stablecoin USDS was launched on Solana, the Circulating Supply has exceeded $89 million.
Golden Finance reported that the USDS issued by Sky (formerly known as MakerDAO) has been online for less than a day, and the Circulating Supply of USDS on Solana has exceeded 89 million dollars, becoming the fastest rising stablecoin on Solana. It is reported that due to the increased rewards provided by Sky, the USDS credits on Save, Drift, and Kamino are seeking returns of over 20%. Sky also encourages traders to transfer funds to Solana through the Tokenbridge service Wormhole, which further increases the circulating supply.