Stablecoin Track: New Trends, New Rules, New Opportunities

The stablecoin industry is entering a new phase. With the global regulatory framework becoming increasingly clear, the compliance processes of leading companies accelerating, and continuous market innovations emerging, the development of stablecoins is迎来新局面.

Recently, a well-known stablecoin issuance company successfully went public, with its stock price soaring nearly 170% on the first day. This not only marks an important step for the stablecoin industry towards mainstream adoption but also provides a valuation reference for traditional capital entering this market.

Against this backdrop, the development of stablecoins has far surpassed the simple "dollar-pegged" model and may be driven by three core trends in the future:

1. Stablecoin DeFi Protocol Innovation
2. Popularization of stablecoin payment tools
3. Deep integration with real-world assets ( RWA )

1. Analysis of the Three Major Application Scenarios of Stablecoins

payment field

Traditional cross-border payment systems are inefficient, costly, and opaque, making it difficult to meet the demands of the digital age. Stablecoins, with their near-zero cost, 24/7 availability, and programmability, are imposing a disruptive impact on traditional systems. Several mainstream payment companies and financial networks have begun to integrate stablecoins, validating their commercial potential. Stablecoins are rapidly evolving from a pricing unit in cryptocurrency exchanges to a global payment and settlement tool.

DeFi field

Mainstream stablecoins have significant capital efficiency issues. Users hold interest-free stablecoins, while issuers obtain all the returns by investing reserve assets. Emerging yield-bearing stablecoins incorporate income mechanisms such as U.S. Treasury bonds and DeFi lending into the token design, allowing holders to automatically earn returns and improving the efficiency of fund utilization.

RWA field

RWA( tokenization of real-world assets is seen as the core engine driving DeFi towards a trillion-dollar scale. At its core, it involves putting assets with stable cash flows in the real world, especially US Treasury bonds, on-chain, providing DeFi with sustainable, low-risk "real yields" and attracting institutional capital. RWA injects "value" and "scale" into stablecoins, opening up the imaginative space for a trillion-dollar market.

2. Analysis of the Top Ten Unreleased Stablecoin Projects

) A high-performance blockchain designed for stablecoins

This project is a high-performance blockchain specifically designed for stablecoins, aimed at solving issues such as high transaction fees and transaction failure rates when processing stablecoins on traditional chains. Its core is based on an innovative consensus protocol and execution engine, featuring fast confirmation and high compatibility. It supports payment of fees with mainstream crypto assets, provides zero-fee stablecoin transfers, and develops privacy transaction features.

Users can deposit assets into certain mainstream DeFi protocols to earn yields through the audited treasury contracts, and after the lock-up period ends, the assets will be uniformly converted to USDT. KYC identity verification and other compliance processes need to be completed. Currently, the deposit limit is full, and users can pay attention to subsequent openings.

( 2.2 Cross-chain stablecoin based on short-term U.S. Treasury collateral

The stablecoin issued by this project is based on an innovative architecture and is collateralized by short-term US Treasury bonds, with an expected annualized yield of approximately 4.31%. It supports cross-chain transfers and is suitable for multi-chain development environments. Users can choose to deposit the stablecoin into the points pool to earn points or deposit it into the yield pool to obtain higher returns.

Currently, a points incentive activity is underway. After users cross-chain USDC and exchange it for the project stablecoin, they can choose to deposit into the points pool ) and forgo interest for points ### or into the yield pool ### to earn an annualized return of 14.8% (. The points pool requires a stake of at least 30 days to qualify for rewards, and the longer the lock-up period, the higher the points multiplier, with additional rewards available for achieving TVL milestones.

) 2.3 On-chain US Treasury Yield Product

The project offers on-chain U.S. Treasury yield products, with the issued tokens backed by short-term U.S. Treasuries and USD. It also issues two types of yield-generating stablecoins (, which reinvest daily earnings and increase net asset value ), all supported by short-term U.S. Treasuries and repurchase agreements, ensuring principal stability and continuous yield generation.

Users can earn points by holding their stablecoin or participating in related DeFi activities ### such as providing LP, staking, or depositing into strategy vaults (, with different tasks offering different multipliers.

) 2.4 stablecoin supported by a decentralized operator network

The project issues two products: 1(, a digital dollar backed 1:1 by various mainstream stablecoins; and 2), a yield-bearing stablecoin generated through a decentralized operator network after staking. Operators need to obtain collateral support, over-borrow funds to execute strategies and return profits, and failure to meet standards will trigger forced liquidation to ensure the principal safety of holders.

Currently, the testnet is available for participation, but there are no clear airdrop rules yet.

2.5 on-chain financial management platform's stablecoin

The project is an on-chain financial management platform aimed at institutions and teams, integrating payment, accounting, and asset management functions. Its core assets include two types of stablecoins: one is a yield-generating stablecoin that earns returns through U.S. Treasury bonds and the DeFi lending market, requiring no staking or locking; the other is generated by collateralizing USDC, suitable for efficient liquidity and earning returns in DeFi.

Users can complete daily tasks ) such as visiting websites, testing DApps, etc. ) to earn points, and they can also invite friends to improve their ranking. Accumulated points to reach the top 100 can earn USDC rewards.

2.6 fully collateralized compliant stablecoin

The stablecoin issued by this project is fully collateralized by cash, US Treasury bonds, and repurchase agreements, following the ERC-20 standard, featuring characteristics such as free trading and open scalability, and supporting compliance functions like asset freezing and issuance/burning.

Users can join relevant liquidity pools on certain DEXs or lend the stablecoin on specific lending platforms. In addition, the project team is about to launch a new stablecoin in collaboration with partners.

( 2.7 Infrastructure Protocol for Stablecoins on a Certain Public Chain

The project is a stablecoin infrastructure protocol built on a high-performance public blockchain, issuing yield-bearing stablecoins supported by various mainstream stablecoins. Users can mint project tokens by depositing any or multiple stablecoins, automatically compounding their returns and obtaining unified liquidity. The tokens can be used for exchanges, staking, or integrated into other DeFi applications.

Users can earn points through daily stablecoin exchanges in the first few attempts, providing liquidity for specific funding pools, inviting friends to participate, and using them on partner platforms, for subsequent incentives.

) 2.8 low-risk yield stablecoin protocol

This project is a stablecoin protocol that issues stablecoins fully backed by USDC and USDT, and earns low-risk yields by deploying them to mainstream lending protocols. Users can stake the stablecoin to receive yield-bearing tokens, with the returns distributed weekly in the form of value appreciation. Upon unstaking, users can receive the original principal and accumulated returns.

Users can earn points in three ways: by depositing project tokens along with certain DEX LP assets into specific mining pools, by holding specific LP or yield tokens in their wallets, and by collateralizing project assets on certain lending platforms. Points are used to measure a user's contribution to the protocol and can serve as the basis for future rewards.

2.9 innovative minting mechanism stablecoin

The project offers two minting mechanisms: traditional minting and innovative minting. Users can mint stablecoins using stablecoins or over-collateralized non-stable assets, ensuring that each token is backed by sufficient assets. Innovative minting allows users to lock non-stable assets for a period of time in exchange for liquidity, maintaining over-collateralization safety. The platform manages collateral through a neutral market strategy to ensure asset stability.

Users can earn points by minting stablecoin ###, prioritizing non-stablecoin methods ###, and staking yield-type tokens to complete tasks, with the highest compounding rewards and a maximum lock-up period of up to 12 months.

2.10 Bitcoin native liquidity protocol

This project is a Bitcoin-native liquidity protocol that allows users to mint over-collateralized stablecoins by staking BTC. The stablecoin ensures system stability with multiple collateralization ratios and has a liquidation mechanism and price stabilization module to maintain its peg to the US dollar. Users can mint stablecoins by collateralizing BTC, or redeem stablecoins to retrieve BTC, and can also achieve liquidity by exchanging with other stablecoins.

Users can mint stablecoins by collateralizing BTC or using the ETH-USDC conversion method. After that, they can participate in the stable pool or LP mining to earn profits and points. Zero-cost users can also accumulate points by binding their wallets, completing tasks, and so on, to strive for airdrop opportunities.

The competitive landscape of stablecoins is undergoing profound changes. From innovative infrastructures specifically designed for stablecoins to unique yield-bearing stablecoins, these projects could define the future direction of stablecoin development and are worth ongoing attention.