Stablecoin Yield Wars: Arbitrum Drops USDC, Sui Flywheel Gains
Arbitrum is launching a stablecoin incentive program to shift apps from USDC to USDG, while Sui's native stablecoin USDsui hits $80M supply with a yield-to-buy-SUI flywheel already accumulating 830k tokens.
What we know
An account on X explains that Arbitrum earns zero from the ~$3.8B in USDC sitting on its chain and is paying apps with $1M+ stablecoin balances to adopt USDG via a new growth program. Meanwhile another account on X highlights Sui's USDsui — issued by Stripe's Bridge — hitting a record $80M supply, with yield used to buy $SUI on the open market ($646K worth so far).
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.