Besides Binance and Aster, there’s another battlefield now. By throwing money around, Bybit is offering over 10% interest on USD1. USD1 has climbed to the 4th spot in issuance volume. This money-throwing recharge strategy has already surpassed Ethena, making it the 4th largest stablecoin by market cap. (Basically, they copied the previous campaign on Binance and moved it to Bybit. Just hold USD1 to share in the $45 million WLFI prize pool.) Simple and straightforward—burning money to buy the market. The average annualized yield can reach close to 10%. This is way more comfortable than Web2 financial products.