PYUSD stablecoin now up to $1.6b supply o/s, up ~160% from $700m just a year ago > Currently paying $200k/wkly on Kamino (10.8% APY) > Interesting case study on continually jamming incentives via defi to bootstrap supply of their stable > Seeing the strategy permeate across their business, now paying 4% to PYUSD holders via Venmo > TBD on durability, but paying users to hodl the stable appears to be working (launched from 0 in Aug '23)