Over $1,762 USDC has been paid out to holders thus far and it’s only been 2.5 hours.
This is only the beginning of $PUSD and we have more in store for the project/community
Stability and scalability with Pegged United States Dollar on USDC
The great thing about having tech tied to a coin that rewards its holders is disbelievers rewards to believers.
$PUSD is a narrative that truly sustains in crypto because it exemplifies stability in the market.
With Pegged United States Dollar on USDC you get a higher liquidity ratio in comparison to SOL pairs making for more stability. The holders get rewarded as 100% of the fees get redistributed amongst the holders.
That’s a true setup for scalability and sustainability.
Tech for Pegged United States Dollar is now live and the first batch has been sent.
Henceforth 100% of fees will be auto collected every 8 mins, converted to USDC and payed out to holders who hold atleast 0.1%
$PUSD
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You guys remember the last time pumpfun gave us a coin in this same manner.
That’s all I’m gonna say.
This is literally free $VAPOR
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People will listen more when it’s higher.
Especially now with Helius Privacy taken shape at the same time of this incident with circle.
People really think Solana ecosystem as a whole isn’t going to be bull posting privacy? 😂
$PRIVACY
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Real privacy for enterprise is coming soon to Solana.
Without the false tradeoffs that other chains force you to make.
Powered by the upcoming @HeliusPrivacy 😉
ZachXBT just flagged something uncomfortable: Circle froze 12.6M $USDC sitting inside @zama Confidential USDC contract.
For the moment, no clear reason given.
A privacy protocol built on top of a centralized stablecoin is still at the mercy of its issuer.
Ok so Mert just posted about it again.
But I also just noticed something new in @mert bio.
https://t.co/VAvauBUhu3
Mert is building Helius Privacy on Solana. The oldest tweet on the account is 2 days old. Many people don’t even know this yet. Definitely follow.
$PRIVACY
More and more big account posting about what happened today.
$PRIVACY is one of the most significant pillars to Crypto
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Circle has refused to freeze $420 MILLION in stolen funds across 15 hacks this year. Today they froze $12.6 MILLION in user funds at a privacy protocol over a private DAO dispute.
Zama is a confidential payments protocol on Ethereum.
Their cUSDC contract lets users hold and move USDC privately.
A few hours ago Circle quietly added that contract to its USDC blacklist. $12.6 MILLION in user deposits, frozen.
Zama wasn't notified.
The trigger wasn't a hack. It was a US civil case.
On May 11, a wallet linked to Overnight Finance deposited $12.4 MILLION into Zama. Overnight Finance is currently being sued by its own token holders.
The allegation is that the team is winding the protocol down in a way that benefits insiders.
One of the plaintiffs is Patagon Management. A Delaware LLC run by Diogenes Casares.
The same firm that sued Aragon, Spartacus DAO, and Concave Finance. The same firm crypto media has labeled "RFV raiders" for buying into protocols, demanding treasury distributions, and suing if they don't get them.
Patagon won a court order. The order included freezing the assets in question.
Circle complied by blacklisting the Zama contract those assets had been deposited into.
Every other user with funds in that contract was frozen as collateral damage.
Circle's CEO Jeremy Allaire has said for the past two months that USDC will only be frozen under court order.
Not on social media pressure. Not even during active hacks.
The Drift Protocol hack in April moved $232 MILLION in stolen USDC across blockchains using Circle's own bridge over six hours. Circle did nothing.
Today the same policy froze $12.6 MILLION in unrelated user funds because of a private commercial lawsuit.
Circle won't act when stolen money moves. Circle acts when lawyers send paperwork. The difference is who Circle protects and who gets caught in the middle.
What is wrong with Circle?
> Did not freeze Bybit funds
> Did not freeze Drift funds
> Did not freeze GMX funds
> Did not freeze Nomad Bridge funds
But they blocked the funds of Zama, a privacy protocol that was just doing its job.
What is the logic?