i love competition and for the first time in a while @tether and @circle might have a real competitor if they play their cards right i’m well aware of how difficult this is. competing with USDT and USDC is mostly a distribution game. what i find most interesting is the revenue model; the companies backing OUSD will actually be able to earn from the underlying yield, giving them a direct financial incentive to integrate and promote it across their own products. that’s a pretty different dynamic from what we’ve seen until very recently with the hyperliquid/circle deal it won’t be easy and they might even be underestimating how much work(and resources!!) this will take, but it’s definitely something i’ll be keeping an eye on