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:白银TD)
- ·阿瓦隆721价格-阿瓦隆1047价格
- ·一文盘点 Solana Breakpoint 2024 重大项目进展
- ·请问平安新易贷逾期有什么后果?我在平安新易贷逾期2天了。
- ·Phoenix Global (new) (PHB)购买指南及上线交易所推荐
- ·今天什么天气什么温度
- ·火币网又卡
- ·以太坊币钱包下载
- ·今日云币价格查询
- ·uni币怎么挖 uni币怎么挖矿
- ·Gas (GAS)怎么买?Gas (GAS)在哪里买卖交易?
- ·火币交易版苹果
- ·BarnBridge (BOND)怎么买?BarnBridge (BOND)在哪里买卖交易?
- ·聯準會一口氣降息兩碼!鮑威爾強調:經濟沒有衰退,只是「重新調校」
- ·程租船与期租船的区别是什么
- ·医药消费股票-医药消费股票有哪些
- ·普银价格趋势
- · okx交易所app官网
- · OK交易所官网入口登录
- · 十大虚拟货币交易平台app
- · okx交易所app官网链接
- · 0kx交易所官网
- · 数字货币交易平台app
- · 欧亿app官网正式版下载
- · okx网页版
- · okcoin交易平台