Paxos’ USDG stablecoin, also known as Global Dollar, recorded $21.8 billion in trading volume on Uniswap in September, representing 98% of its total decentralized exchange activity. USDG’s circulating supply stands at approximately $3.2 billion, meaning the stablecoin turned over nearly seven times its entire supply on a single DEX in a single month. This volume explosion is directly linked to Uniswap’s launch of the StablePair Hook on September 10, a feature introduced on Uniswap v4 that brought dynamic fee structures for stablecoin trading pairs. USDG accounted for approximately 31% of Uniswap’s total monthly volume of $70 billion in September. Paxos Digital Singapore launched USDG in November 2024, backed 1:1 by liquid US dollar assets and regulated by Singapore’s Monetary Authority.
Source: Read the original article
