One method for evaluating the performance of the stablecoin USDS is by analyzing the percentage of USDS that is held idle without generating rewards. Despite there being more than $1 billion in circulation, a significant portion remains dormant and does not accrue any rewards. This phenomenon indicates that the stablecoin is being held by actual individuals rather than automated bots. The fact that users are holding USDS without seeking to maximize returns suggests that they view it as equivalent to cash, using it temporarily for transactions.
By examining the behavior of users in relation to USDS, it becomes clear that there is genuine demand for this stablecoin and that it is serving a practical purpose in the cryptocurrency market. This organic use is a positive indicator of USDS’s success and stability as a digital currency.
