About the Bounty

Stablecoins are a key primitive for driving both crypto-native & mainstream adoption. A quick overview of where things stand:

• stablecoin supply on Solana recently crossed $10B

• there were $200M monthly transactions doing over $40B in volume

• companies like Stripe, Shopify, Visa, Mastercard, etc have integrated stablecoins into their products.

• new startups like Squads, KAST, Perena, etc are innovating at the frontier of stablecoin based products

• the recently passed GENIUS act provides a first ever framework for dollar denominated stablecoins

• while USDC & USDT dominate, lots of new players like PYSUD, USDG, etc are issuing their own stablecoins.

Your mission, should you choose to accept it, is to write a comprehensive deep dive about the state of stablecoins on Solana. The ideal submission will:

1. Present an overview of key network level metrics and comment on trends

2. Highlight, and explain past the headline, all key product developements, integrations and features related to stablecoins

3. Draw out an ecosystem map highlighting distinct sectors within the stabelcoin domain and the key players in it

4. Compare and contrast regulatory approaches across the world and draw common trends and predictions for the future

5. Suggest & develop interesting opportunities or product ideas for the application of stablecoins.

6. Sound opinioniated and interesting vs just being an information dump

Other Evaluation Criteria

In addition to the criteria shared above, our judges will use the following criteria will judging your submissions

• Did you write a compelling introduction and a satisfying conclusion?

• Is your writing easy and fun to read?

• Did you avoid overly complex jargon?

• Did you explain concepts in a way a person new to crypto could understand?

Submission Requirements

• Your submission needs to be structured as a blog, essay or report on a public platform like substack, medium or even the X article composer. Twitter thread formats are not acceptable for this bounty.

• Your essay should be written in English.

• Your submission should be at least 1,000 words. Note that typical bounty winners are ~2,000 words.

• You should include links to your sources under the title “References”. If you have used external sources and no references are included, your bounty could be rejected on grounds of plagiarism.

AI Assistants

You are welcome and encouraged to use AI assistants for research, feedback and improving the quality of your submission. Participants should focus on adding their own narrative, insights and opinions to the submission. We’d strongly advise against just submitting the AI-output served against this bounty as a prompt because we already generated that and linked it below for your reference :)

Resources

• State of Stablecoins on Solana by Helius

• Stablecoin Society on X

• This bounty as written by ChatGPT-o3

• Deep Dive Guidelines

Terms

Participation in this bounty is entirely voluntary. Bounties are a way to learn and dabble in opportunities to build in web3. These are neither full time jobs nor project based engagement. Please be advised that the sponsors will not have time for individualized feedback due to the number of entries we receive.