The native stablecoin of the Sui blockchain, Sui Dollar (USDsui), officially launched on Wednesday. Its revenue model aims to channel the returns from supporting assets back into the Sui ecosystem. According to Adeniyi Abiodun, co-founder of Mysten Labs, the yields from bonds and liquidity assets will be used to buy back and burn SUI tokens or deployed into DeFi protocols as incentives, which is a stark contrast to the traditional model where issuers retain the profits. This stablecoin is issued by Bridge, a company acquired by Stripe, and aims to leverage Sui's existing stablecoin trading volume of over $1 trillion for a rapid launch.
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The native stablecoin of the Sui blockchain, Sui Dollar (USDsui), officially launched on Wednesday. Its revenue model aims to channel the returns from supporting assets back into the Sui ecosystem. According to Adeniyi Abiodun, co-founder of Mysten Labs, the yields from bonds and liquidity assets will be used to buy back and burn SUI tokens or deployed into DeFi protocols as incentives, which is a stark contrast to the traditional model where issuers retain the profits. This stablecoin is issued by Bridge, a company acquired by Stripe, and aims to leverage Sui's existing stablecoin trading volume of over $1 trillion for a rapid launch.