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:创业研究)
- ·在微粒贷上做贷款容易吗,条件是什么呢?
- ·个人增值税普通发票税率是多少
- ·应收账款周转率下降说明了什么
- ·数字货币比特币app(知名交易平台前十推荐)
- ·股票专用术语-股票专用术语大全集
- ·回顾特朗普上任百日,加密市场得与失
- ·SUI 形成上升通道,有望创下 6 美元历史新高
- ·分析师:比特币 ETF 资金流入是比特币突破 10 万美元大关的原因
- ·eth币价格大跌
- ·狗狗币DOGE值得长期持有吗 未来前景怎么样
- ·SEC 指控 Unicoin – 曝光 1 亿美元涉嫌欺诈!
- ·福利费可以直接入管理费用吗
- ·dpos机制怎么挖矿 dpos挖矿算法
- ·OKX Token2049 速递:首席营销官 Haider 揭秘 OKX 钱包全新升级的五个关键细节
- ·莱特币什么时候出的 莱特币什么时候出来的
- ·欧意易易法币商户是什么?欧意易易OKX法币商户一天能赚多少钱?
- · okx交易所app官网
- · 虚拟货币交易平台排名
- · 亿欧app下载
- · 数字货币交易所
- · okx交易所app官网链接
- · 十大虚拟货币交易平台app
- · 亿欧交易所下载
- · 易欧app官网下载
- · okcoin下载官方app