Berachain USDC supply plummeted by 450 million within a week, lack of bribery incentives may be the main reason.

Wu reported that over the past week, the supply of Berachain USDC has fallen from 1 billion to 550 million, with approximately 450 million coins flowing out. Meanwhile, the supply of the native stablecoin Honey (minted 1:1 through USDC) decreased from 740 million to 510 million, with about 230 million coins redeemed. Wu had previously reported that against the backdrop of Berachain PoL, the BGT allocation for the initial five trading pairs on the official BeraSwap has seen a cliff-like drop due to a lack of bribery incentives, causing the BGT returns for the two stablecoin pools to fall from a maximum of around 15% to about 3%. This may be one of the reasons for the significant outflow of USDC.