In a latest sharing session, Le Thanh – the founder of Coin98 – shared quite a few valuable experiences and advice for traders in the course of a industry downturn. Furthermore, Mr. Le Thanh also mentioned and manufactured a smaller “revelation” that Coin98 is getting ready to launch a stablecoin to serve the growth of its ecosystem.
Note: This post may perhaps signify the author’s individual views and opinions. It should not be viewed as investment tips.
A point of view on stablecoins
According to Mr. Le Thanh, the truth that latest stablecoin tasks this kind of as USDN (stablecoin of Near Protocol) or USDD (stablecoin of TRON) have interesting APY amounts ranging from twenty% to thirty%. It “burns money” to entice and educate end users, alternatively of employing it on other promoting answers.
This is an powerful possibility in the early phases, having said that, it is also a quite risky model if the venture does not have a realistic roadmap to alter the APY. Mr. Le Thanh also expressed his view on a very good stablecoin, saying: “A stablecoin must be stable, safe”.
Personally, I strongly agree with this see for the reason that the major occupation of a stablecoin is to mediate payments and shop worth in the industry, so the stablecoin itself need to to start with be secure and safe. The latest breakup of UST and LUNA is a wonderful lesson for tasks that want to expand swiftly in spite of the consequences. Readers can critique the total incident appropriate right here in this post: UST-LUNA influence and harm overview.
So in which path will the Coin98 stablecoin build?
In the video, Mr. Le Thanh also exposed some suggestions for improvement Coin98 stablecoins, especially interested in stability, sustainability and liquidity, will for that reason not commit to obtaining a higher APY curiosity. At the similar time, Coin98’s stablecoin will be created all over a cross-chain hybrid model.
I’ll clarify a very little much more what Mr. Le Thanh usually means. First, you can see a existing want in the industry: interoperability and mobility of assets among distinctive chains. The major cross-chain bridge answers are for that reason producing quite promptly and strongly (this kind of as Multichain, Synapse, Hop Protocol …). However, there are even now quite a few limitations that want to be conquer this kind of as safety (cross-chain is quite vulnerable, as demonstrated by the Ronin or Wormhole hacks in 2022), liquidity among chains, expenditures, pace, management. ..
Coin98’s stablecoin will concentrate on getting a secure token and linking chains among them, generating it quick for end users to interact and transfer assets among ecosystems. From there, stablecoins will be applied much more broadly, make revenue (by way of the assortment of transaction charges), improve provide, and increase steadily. Furthermore, Mr. Le Thanh also exposed that a element of the transaction charge of this model will be shared between the holders of C98 token, this is a way to improve the worth of the C98 token.
This is not a new model, when some tasks have applied intermediate tokens to serve their cross-chain answers, wherever you can study about Synapse, a venture that combines stablecoins nUSD averages asset transfers among chains. However, in actuality, there has not genuinely been a stablecoin that stands out and captures the total industry share. Being a venture that has a secure quantity of end users, and integrates quite a few functions (in addition to becoming an on-chain wallet, Coin98 also integrates swap, staking …), so if you mix the cross-chain model and the stablecoin, accomplishment , Coin98’s stablecoin has quite a few options to obtain industry share.
However, Mr. Le Thanh extra that this is a strategy that has been appreciated for the up coming five many years, not still formed at the minute.
You can view the total interview right here:
https://www.youtube.com/watch?v=LCTSVgCZQKg
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See other articles or blog posts analyzing other prospective DeFi tasks from the writer of Poseidon:
