Have seen some FUD on the timeline as it pertains to Solana's stablecoin economy.
Here are the facts:
1. Solana grew its stablecoin supply ($14.6b) 37% in Q3. Primarily driven by USDC, which has 69% of all stablecoins circulating on the network (USDT is 16.4%)
Solana has 5.1% of all Stablecoins, and is the #3 chain in terms of stablecoin supply.
2. Stablecoin transfer volume was up 50% in Q3.
3. In terms of velocity, Solana turns over 6% of its stablecoin supply/day (Ethereum L1 is 2.8%, L2s combine for 5.6%).
4. In Q3, USX emerged on Solana as a new yield-bearing stablecoin that pays yield via delta-neutral strategies (similar to Ethena). It's now the 5th largest stablecoin on Solana, with over $200m of AUM.
*All from the Stablecoin section of the Q3 edition of The SOL Report, powered by @solsticefi
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