The Stablecoin Issuer narrative is heating up and the birth of a new era is emerging.
"Stablecoin as a Service"
Ethena unveils MegaETH's MegaUSD (USDm).
This Initiative supports the notion of redirecting value captured by chains and apps to ecosystem growth and support rather than leaving them for existing Stablecoin issuers.
In my opinion, this in turn will drive more TVL growth to @ethena_labs's USDe in the future.
Will Ethena's USDe flip Circle's USDC?
Ethena is currently sitting at $12.793B deployed across 22 chains while USDC is currently at $72.131B deployed across 118 chains.
In my opinion, there's still room for Ethena's USDe flipping USDC in the future.
The upside potential here is massive when compared against Marketcap vs chains/apps deployed across.
All Blockchains will soon start to have their own native stablecoin to capture more value if @megaeth_labs manages to pull this off successfully.
We are very excited to be unveiling MegaUSD, MegaETH's native stablecoin
USDm will power some of the best apps coming out of @megaeth_labs, including @euphoria_fi, @avon_xyz, @wcm_inc, & more
All USDm TVL will feed back into growth for our USDtb product, then potentially USDe later
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