Stablecoin time-to-$1B is compressing fast. USDT: 38 months (Oct 2014) USDC: 22 months (Sep 2018) PYUSD: 13 months (Aug 2023) FDUSD: 6 months (May 2023) $USD1: 3 months (Jan 2025) Each case had a different distribution engine. USDT had a first-mover advantage and exchange

USDC0.01%
PYUSD0.08%
USD1-0.03%
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