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.

SUI6.88%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)