The stablecoin sector in 2025 has once again achieved impressive results. According to industry data, stablecoin issuers have generated approximately $5 billion in annual revenue through deployments on Ethereum. This income mainly comes from the interest earned on collateral assets. Interestingly, the distribution model for these revenues is quite unique—distributed proportionally based on the circulation share of each stablecoin on the Ethereum chain. This also indirectly reflects that, within mainstream public chain ecosystems, Ethereum remains the core territory for stablecoin issuers. The maturity of the interest-earning model has also gradually transformed stablecoins from mere payment tools into ecosystem components with financial attributes.