The so-called Binance official stablecoin, U, teamed up with Venus and Lista DAO today to launch an event on the Binance Wallet. In less than a day, $278 million was poured in—crazy fast. Although the annual yield is still around 15-16% right now, this shows that people aren’t avoiding investments because of the bear market; they’re just looking for stable income. It’s expected that there will be a second and third phase coming soon, supporting exchanges within Binance or on Pancake. FYI: Currently on Binance, U to USDT and USDC exchanges have zero fees.