It's not exactly new, but a lot of people are sleeping on what @global_dollar offers, especially in the domain of Solana DeFi. Here's what it is, and why you should not be afraid of using it 👇

The #1 misconception I see from people I talk to daily on Solana is that $USDG is some shady back alley sus pseudoalgostable dollar and whatnot - which couldn't be further from the truth. $USDG is safe. It's issued by Paxos SG. It's also backed by Kraken, Robinhood. 1:1 backed

We often hear the word "composability" Sounds really tough, like "neural networks" or "IPFS" But actually it's really simple. Composability = Easy to integrate Easy to bridge around. Easy to use in DeFi. Easy to add to products. Easy to redeem for actual USD to bank. $USDG.

So, why this one? From their whitepaper: - They've got experience (prior PYUSD issuance experience), they're not going anywhere - Great partners - Solana centric and already have quite a few implementations on Kamino and Loopscale (getting to this in a minute) It's legit.

So here's how I use it, two options that stand out for me, and are actually intertwined: - Kamino borrowing - Yeet USDG into @LoopscaleLabs vault It's very simple and you can do it in 4 clicks. Link below and full tutorial:

1. Have cbbtc and/or jitosol available on Main Market on Kamino 2. Deposit cbbtc, borrow USDG 3. Register on Loopscale: 4. Use the $USDG to earn 6% yield on it. We're done! This strategy allows for a lot of Loopscale points, with big LTV margins!

Curious for more? Check out my TG below

And also, to mention the first tweet's photo, since no one likes a clickbait - the Syrup Market on @KaminoFinance allows for a pure 11% on USDG deposited there. Can't borrow against them, but sure can use the yield. lovely!