OKX Offers 4.1% Yield on USDG Amid Stablecoin Competition
- OKX is offering 4.1% yields on USDG with weekly payouts, without staking lockups.
- The initiative aims to compete for stablecoin dominance amid growing competition.
- USDG is minted by Paxos and backed 1:1 by U.S. dollars.
- OKX joined the Global Dollar Network in July, expanding USDG availability to onshore and offshore users.
- Stablecoins like USDC and USDG are competing with decentralized options like DAI and algorithmic models.
- OKX refers to stablecoins as "crypto's connective tissue," essential for payments, transfers, and DeFi strategies.
- Stablecoins offer a way to hedge against volatile cryptoassets while staying within the crypto ecosystem.
