Ethereum

Tracking where new stablecoins actually get used is alpha.
Built my own $USR asset utilization dashboard on Dune to see what's real. 📊

$USR is a new delta-neutral stablecoin from Resolv Labs  — backed by a tokenized collateral pool $RLP

I pulled live data from Dune and mapped where USR is actually sitting across DeFi.

This chart shows the Top 10 contracts holding $USR, excluding EOAs — highlighting how much is staked, lent, farmed, or pooled today.

query link: dune.com/queries/5048710/8342081

Not all smart contract deposits are the same

Breaking down how $USR is being used — lending? farming? liquidity? backend ops? Here's the split. 🧩
(summarized from the above query...👆)

DeFi & Crypto Research | Senior Writer - The Coin Bureau

Where stablecoins flow = what future narratives form. 

Top insights from tracking USR’s early utility across DeFi 💡 

1. Lending is king: most $USR leaves Resolv to be lent out (Morpho, Euler v2, Upshift). 

2. Liquidity deployment (Uniswap v4, Fluid) is early but growing. 

3. Incentive farming (level money) shows users chase rewards too. 

4. Backend contracts: UsrExternalRequestsManager ≠ real DeFi usage (neutral ops). 

Takeaway: 
Beyond staking, USR’s real utility is forming around lending, with early moves into liquidity and incentive farming 🔥 

I'm planning to track more 🚀 
What other stablecoins or DeFi assets would you want me to curate + analyze next on Dune? 
Drop suggestions. 🔎