1/ Dune Digest 20 is here! This week: • @ethena_labs’s USDe flywheel accelerates • @baseapp fuels a SocialFi surge • @Uniswap v4 crosses $100B • @yalaorg launches $YALA • @noble_xyz’s USDN hits $1B in volume Let’s go!

@Arnno39 @AlsieLC @filippoarman @web3sly @fr0zensun 2/ @ethena_labs keeps gaining speed: • USDe supply topped $7B • @StablecoinX raised $360M • @strata_money launched with $19M TVL in 3 days • USDtb became the first GENIUS-compliant stablecoin via @Anchorage DeFi, RWAs, and equity buybacks, all spinning the flywheel.

3/ @baseapp is making SocialFi real = SocialFi in motion. After rebranding Wallet to Base App on July 16, @zora Coins exploded: • Token mints peaked at 38K/day • 150K+ daily trades • $6M+ volume • $30K in daily creator rewards A new kind of wallet is here: chat, post, mint, earn.

4/ @Uniswap v4 just hit $100B in cumulative volume. Now driving 30% of all Uniswap activity, v4 sees: • $634M daily volume • $1B in TVL • 100+ daily hook deployments Unichain now leads in v4 volume; modular, programmable DEXs are the future.

5/ @yalaorg’s BTCFi stack is surging. TVL is over $200M, with $122M $YU minted and $73M staked in the Stability Pool. @solana and @RaydiumProtocol drive 74% of $YU’s $68M DEX volume. 34M $YALA airdropped to 10K users — 30M claimed in days. BTC-backed stablecoin infra is here.

6/ Speaking of stablecoins, @noble_xyz’s USDN surpassed $1B in transaction volume. Plus: • 30K wallets • $1.34M in yield • 10.9K monthly actives • $371M in USDC swaps • $112M+ locked in yield vaults Built on short-term T-bills, USDN blends yield and usability.

@jelena_noble 7/ That’s all for Dune Digest 20! Follow Dune and subscribe for weekly insights on what’s moving onchain: Let the data guide you