Stellar
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XLM · 3w

13x increase in USDC on the stellar network. Anyone know what's up?

What's up lumenauts, does anyone know what the SDF is up to? I just noticed that 150,000,000 USDC has been deposited into a wallet with an SDF address or at least SDF is in the name listed on the [asset holders list](https://stellar.expert/explorer/public/asset/USDC-GA5ZSEJYB37JRC5AVCIA5MOP4RHTM335X2KGX3IHOJAPP5RE34K4KZVN?filter=asset-holders). This wallet was created on July 13 2021 and was been pretty dormant since. On September 23 the 150 million USDC were deposited to this address by [centre.io](https://centre.io). Prior to this deposit there was only about 11 million USDC on the stellar network. I'm trying to figure out what this is for and the only thing that comes to mind is that it's going to act as initial liquidity for the AMM. **\[EDIT\]** The answer was already been discussed and you can see SDF's statement on this here: [https://stellar.org/blog/leveraging-on-chain-assets-to-support-the-stellar-ecosystem?locale=en](https://stellar.org/blog/leveraging-on-chain-assets-to-support-the-stellar-ecosystem?locale=en) \[**EDIT\]** I have been contemplating making the switch from lending USDC with Compound to swapping it on the stellar network for yUSDC after Compound's fiasco with their distribution of COMP. As far as I can tell the bug does not affect the USDC I have supplied to the liquidity pool because it only pertains to the withdrawal of any accrued COMP tokens (which you earn lending anything on Compound), but it makes me uncomfortable nonetheless. The only reason I haven't made the switch already is it's hard to track down information on how ultrastellar generates the 9% interest. With Compound the interest comes from people actually borrowing money from the liquidity pool and so it's easy to track the rate based on the amount supplied vs amount borrowed. With ultrastellar I haven't been able to figure anything out other than that I'm earning 9% APY. Anyone know where I can find some good info on how ultrastellar generates the yield for their y-an...
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