USDG, similar to OUSD, claims to collaborate with hundreds of institutions, distributing 97% of the interest generated from treasury reserves to market makers, exchanges, wallets, and other ecosystem partners. The issuer keeps only a small portion of the profits, relying on network-wide liquidity dividends to scale up. And the result? Market share is still less than 5% of USDC. Current issuance is around $3 billion. Every new GPU manufacturer comes in wanting to take down NVIDIA, but at the very least, you’ve got to hit $10 billion in issuance first, right?