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Berachain's USDC supply decreased by 450 million in a week, and the native stablecoin Honey saw redemptions of 230 million.
According to the Gate.io News bot, it was reported by Wu that the supply of USDC on the Berachain platform has decreased from 1 billion to 550 million over the past week, totaling an outflow of 450 million coins. During the same period, the supply of the platform's native stablecoin Honey (minted 1:1 with USDC) decreased from 740 million to 510 million, with a redemption amount of 230 million coins.
Wu said that previous reports pointed out that under the Berachain PoL mechanism, the five trading pairs officially launched by BeraSwap saw a significant decrease in BGT allocation due to lack of bribery incentives. Among them, the BGT yield of the two stablecoin pools dropped from a peak of about 15% to around 3%.
Source: Wu said