1) Stablecoins are speed running commoditization. Every stablecoin at some point is going to distribute the yield to the platform it is distributing through, and those platforms will eventually pass through the yield to the customer. 2) It will be a race for these stablecoin platforms to gain distribution globally. Similar to L1s they will toss incentive fees to the platforms to help market their stablecoin as the main one for settlement, payments, etc.