The on-chain volume of $DLUSD transfers from
@deel has exceeded $115M + since its launch in June.
The most interesting aspect of the data isn’t the amount, but the shift in the nature of the flow.
First week of June: $22.1M across 1,494 transactions. Average transfer ~$14.8K. These aren’t contractors - this is seeding: treasury movements, filling wallets, large early conversions.
Mid-August: $16.0M across 4,759 transactions. Average transfer: ~$3.4K - exactly the level of a remote contractor’s monthly rate in emerging markets.
The launch was top-down. The current growth is bottom-up.
This is the clearest signal of product-market fit visible on-chain.