what's Stablecoin Development Corporation?

SDEV is a publicly traded on-chain holding company positioned as a premier vehicle for public market exposure to the stablecoin economy. It focuses on long-duration participation in protocol-level digital asset ecosystems, particularly yield-bearing stablecoins like those in the Sky protocol. By holding and staking protocol tokens such as SKY, SDEV participates in on-chain economic activity, generating rewards through staking mechanisms while maintaining governance and risk oversight. The company bridges traditional public markets with decentralized finance by deploying capital into stablecoin-related infrastructure, including open-market acquisitions and protocol engagements. Backed by strategic investors in the crypto space, SDEV aims to capture value accrual from stablecoins' role in digital financial infrastructure, such as payments, settlement, and yield generation across diversified on-chain strategies.

Governance reduced buyback, emissions, SSR; project also raised $134M capital.