Xash Pitches Stablecoin Issuers on Gold Rewards for DeFi Activity Instead of Passive Yield
- —Users connect Phantom or Solflare and route stablecoins to venues like Kamino to trade, lend or provide liquidity
- —Activity is scored in points called XP, with a pool of gold split among users at month's end
- —Rewards are currently paid from a venture-funded market development fund, with no issuer contracts signed
- —The GENIUS Act bars issuers from paying yield solely for holding a payment stablecoin
Why it matters: Activity-based rewards could become an alternative to stablecoin yield as US regulators crack down on passive interest.
Source: Unchained