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PayPal’s PYUSD Stablecoin Sees $452M Surge on Solana’s Kamino

Kamino now holds 70% of all PYUSD on Solana after deposits jumped from $5M to $452M in one month, marking record growth in Solana DeFi.

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PYUSD

Summary

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Terms & Concepts
  • Stablecoin: A cryptocurrency pegged to a stable asset, such as the US dollar, to minimize price volatility.
  • Solana DeFi: Decentralized finance ecosystem built on the Solana blockchain, offering fast transactions and low fees.
  • PYUSD: PayPal USD, a US dollar-backed stablecoin issued by PayPal for transactions and DeFi use.