PayPal\'s Stablecoin $PYUSD Has Rapidly Carved Out a Robust Ecosystem on the Solana Blockchain
- WBOYOriginal
- 2024-07-11 15:43:26692browse
In just a short period, it has been seamlessly integrated into the DeFi landscape and is now widely available across major decentralized exchanges (DEXs).
PayPal’s stablecoin, $PYUSD, has been rapidly gaining ground in the DeFi space on the Solana blockchain. Within a short span of time, it has been integrated into the DEX and DeFi ecosystems on Solana.
Now, $PYUSD is available across major decentralized exchanges (DEXs). But, one protocol that stands out is Kamino Finance, which has managed to capture a large portion of the growing $PYUSD liquidity.
As per the latest data, there’s over $400 million in $PYUSD circulating, out of which 30% is being utilized in DeFi platforms. This marks the popularity of PayPal’s stablecoin, which has been gaining traction over the past year.
Moreover, over $50 million is being traded on decentralized exchanges, with Curve being a primary venue for $PYUSD trading.
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