BitGo will launch USDS stablecoin, providing liquidity rewards to ecosystem participants
According to CoinDesk, cryptocurrency custodian BitGo announced plans to launch the US dollar stablecoin USDS at the "Token2049" conference in Singapore. The stablecoin will stand out in this crowded market by rewarding institutions that provide liquidity.
USDS will be supported by short-term Treasury bills, Overnight Repo, and cash, making it BitGo's first open participation stablecoin. The company stated that USDS will be launched in January 2025.
BitGo CEO Mike Belshe said in an interview with CoinDesk:
The main reason for launching USDS is that while existing stablecoins have great features, we believe there is an opportunity to create a more open and fair system that promotes innovation, and most importantly, rewards those who construct the network. The true value of stablecoins comes from the people who use them, the liquidity they provide, and the access points for exchange
At present, the stablecoin market is dominated by Tether's USDT, with a market value of approximately $119 billion, followed by Circle's USDC, with a market value of approximately $35.4 billion. Unlike its competitors, BitGo's USDS adopts a reward based approach, incentivizing institutions that provide liquidity to the USDS network by allocating a portion of the rewards generated from stablecoin reserves.
Belshe said, "At the end of each month, we earn some returns from the cash held by the underlying fund, and then we proportionally return these returns to participants based on the custody of the assets." He pointed out that this mechanism may sound similar to dividends, resulting in the entire operation being classified as an investment contract, but the difference is that it does not distribute the returns to end-users, but to institutions that provide liquidity.
Other US dollar stablecoins have also attempted to create income based stablecoins and reward end-users, but as a compromise, they had to exclude the US market, such as the Lift dollar (USDL) issued by Paxos.
(责任编辑:个股)
- 定额发票金额和实际发生的不符怎么做账
- 芝麻交易所交易所专业版v6.7.9最新下载-易欧专业比特币交易软件6月下载
- 特朗普推动欧盟征收 50% 关税后,比特币跌破 10.9 万美元
- 精研科技收盘跌1.53%,主力资金净流出1.04亿元
- Telegram 執行長被捕後首聲明:當局執法應針對平台,準備退出「不相容的市場」
- 政府财务报表主要包括哪些表格
- 独立核算自负盈亏是什么意思
- 芝麻交易所交易所国际版v6.3.9下载安装-易欧国际交易平台2023中文版下载
- 澳大利亚法官裁定比特币为货币而非资产
- 以太坊硬件钱包-以太坊硬件钱包原理
- 即墨市什么天什么-明天即墨什么天气
- bitshares删除钱包-比特币钱包删除
- iost币价格今日行情
- 太辰光收盘跌4.46%,主力资金净流出1.75亿元
- Avenir Crypto、MYX Finance 和 Deribit 联合主办 Quant CIO Executive Night 大获成功,行业领袖齐聚点亮 Token2049
- 湘潭电化(002125.SZ)全资子公司取得采矿许可证
- 元力股份(300174.SZ):累计已回购1.07%股份
- 华什么穿什么
- 酿酒行业31日主力净流出8.08亿元,五粮液、洋河股份居前
- 隔离验证什么意思 隔离验证地址什么意思
- 十大虚拟货币交易平台app views+
- oe交易所app下载 views+
- 欧易最新版本 views+
- OK交易所官网入口登录 views+
- 数字货币交易平台app views+
- 全球三大虚拟货币交易平台 views+
- 虚拟货币交易 views+
- 亿欧交易所下载 views+
- 虚拟货币交易平台有哪些 views+
- 欧易交易所 电脑 views+