It is still a bit difficult for MakerDao to grow stablecoins. Objectively speaking, the users who need decentralized, non-freezable, and private stablecoin DAI are still niche users, one percent or less. RUNE also knows that the next step to achieve greater growth is to make a more popular compliant stablecoin, so large funds promote USDS. There are three ways for stablecoins to develop: pay, trade, and earn. For example, USDT relied on the trade of Chinese exchanges at a historical moment to timely list trading pairs, and then spread to the global capillary economy to establish the basic market for pay.
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As a latecomer, USDS can only focus on earn. Apy started from 12.5%, and problems followed. The treasury was emptied to subsidize USDS. At present, the scale is about 4B. It is still difficult to make further breakthroughs. It gradually follows the interest rate cut of US bonds. It was reduced to 4.5% yesterday. Further observation is needed. It is necessary to further cross from earn and lend to trade to stabilize the basic market. This probably requires a certain opportunity.
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