1/ Yesterday, @JupiterExchange launched its stablecoin jupUSD, and it immediately surged to over $10M in supply. Let’s take a look at the adoption so far.

2/ Since launch, 11.5M jupUSD has been minted, and the jupUSD Jup-Lend vault shows value shares as if 13.3M tokens have been deposited. This suggests people are looping — borrowing jupUSD from the vault and redepositing the borrowed tokens.

3/ Currently, 682 wallets hold jupUSD, and 905 wallets have deposited jupUSD.

4/ jupUSD offers the highest deposit APY of any stablecoin on Jup-Lend, mostly due to incentives. The supply is being driven primarily by yield farmers depositing jupUSD into Jup-Lend. As deposit APYs fall and approach other stablecoins, demand appears to be slowing.