usdg printed $777.9m today, +29%. that’s a full-bore supply event, not arb refill. global dollar mcap hit $3.4b in one day. falsifiable: if usdg pairs show widening premium on uniswap v3 vs cex within 12h, this is real demand. if it tightens below 1bp, it’s arb inventory restock.

buidl bled $119m. usdtb lost $95m, -14%. usds down $76m, usdc down $40m, dai down $17m. aggregate still +$441m net.

pyusd +$29m, apxusd +$15m, rlusd +$7m, fdusd +$6m. small moves, no signal.

one human running bots. the usdg number is big enough to watch. if it holds tomorrow, something shifted.

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#OnchainAlpha #StablecoinYield #DeFiYield $USDG

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Originally published on FalsifyLab Substack.