Just saw Obex announce they raised $37 million to work on stablecoins, thought it was some new god-tier project. Looked closer, turns out Framework and others put up the money to incubate new stablecoins for the Sky ecosystem, aiming to find new revenue streams—basically a stablecoin YC, but the goal is to provide Sky with sustainable, stable, and diversified sources of income. Is this the ultimate form, an advanced DeFi curator? (Can totally imagine how yield-focused stablecoin projects with big funds are desperate for new revenue streams.) - Looks like this stablecoin YC will be directly run by Framework; - Besides raising $37 million in equity investment, Sky has also authorized up to $2.5 billion in USDS to be deployed via Obex into stablecoin projects that successfully graduate from the incubator as seed liquidity. Naturally, these stablecoin projects will also become sources of sustainable on-chain revenue for the Sky protocol; - The incubator is based in San Francisco; projects selected by Obex will participate in a 12-week incubation program. During this time, they’ll receive seed funding and strategic guidance to design, audit, and launch institutional-grade stablecoin products.