Christina ◡̈(@0xChristina):Great and underrated point by @joakimhi. Once a stablecoin is lent out, it gets redeemed and offramped via DEX swaps or CEXs (about 80%) -- so it's not the issuer paying that yield. In my experience, that's exactly why stablecoin issuers struggle to make long-term structural yield-share economics work doing deals direct with lending protocols natively.

Christina ◡̈

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Christina ◡̈@0xChristina

2026.07.05 09:34

Great and underrated point by @joakimhi. Once a stablecoin is lent out, it gets redeemed and offramped via DEX swaps or CEXs (about 80%) -- so it's not the issuer paying that yield. In my experience, that's exactly why stablecoin issuers struggle to make long-term structural yield-share economics work doing deals direct with lending protocols natively.