前 Tether 首席执行官将推出收益型稳定币,你可能想知道的最新进展

marsbit2025-02-18 tarihinde yayınlandı2025-02-19 tarihinde güncellendi

要点速览

  • 与 Tether 的 USDT 不同,Collin 的 Pi Protocol 将为持有者提供收益,该收益可能来自于现实世界资产(RWA)的代币化投资。
  • 据 彭博社 报道,该代币预计将在 2025 年下半年或更早登陆以太坊和 Solana 区块链。

Reeve Collins 推出稳定币 Pi Protocol,或依托 RWA 产生收益。据彭博社周二报道,Tether 的联合创始人之一 Reeve Collins 正在推出自己的稳定币项目。

与 Ethena 和 M^0 等新兴稳定币项目类似,Collins 的 Pi Protocol 预计将为持有者提供收益,该收益可能来自于现实世界资产(RWA)的代币化投资。这一模式区别于早期的稳定币,如以法币支持的 USDT 和 USDC,以及依靠算法维持挂钩的 DAI,它们的主要功能是追踪美元价值,而非产生收益。

据彭博社报道,该稳定币协议计划于 2025 年下半年在以太坊和 Solana 区块链上线

目前尚不清楚该稳定币的收益来源,但已有多个稳定币通过投资 RWA(如美国国债)向持有者分配收益。例如,Mountain Protocol 于去年推出的 USDM 稳定币,依托其储备资产为持有者提供约 5% 的年化收益。

根据 The Block 数据,Ethena 的 sUSDe 目前在收益型合成美元市场中占据主导地位,流通市值约为 45 亿美元。其次是 MakerDAO 的 “储蓄型” DAI(sDAI)和贝莱德(BlackRock)的 BUIDL 基金

2024 年,Tether 报告称,其储备资产组合(包括政府债券、逆回购协议(repo)和货币市场基金)为公司带来了超过 130 亿美元的净利润。

Reeve Collins 曾于 2013 年至 2015 年担任 Tether 首席执行官,在此之前,他与 Brock Pierce 和 Craig Sellars 共同创立了 Tether 稳定币及其母公司 Tether Corporation。他曾建议将 Tether 的前身 “Realcoin” 更名,该稳定币最早于 2014 年 10 月在比特币 Omni 层上线。

在担任 CEO 期间,Collins 促成了 Tether 与加密交易所 Bitfinex 的紧密合作。Bitfinex 在 2015 年 Collins 离职后不久收购了 Tether。此外,Collins 还创建了早期 NFT 平台 BLOCKv,并在 2017 年通过 ICO 融资 2200 万美元。最近,他出售了游戏初创公司 Pala Interactive,该公司以 7000 万美元的价格被 Boyd Gaming 收购。

目前,Tether 已成为交易最活跃的加密货币。据 The Block 数据,其市值已达到 1410 亿美元。

İlgili Okumalar

Goldman Sachs Research Report Analysis: Circle and USDC Are Moving Beyond the Crypto World, Cross-Border Payments and AI Agents Become New Battlegrounds

Goldman Sachs published a summary of its meeting with Circle Internet Group (issuer of USDC) on July 5th. The core takeaway is that stablecoins, led by USDC, are evolving from a crypto-native tool into foundational infrastructure for traditional finance and the AI economy. USDC's use cases are rapidly expanding beyond crypto trading into cross-border payments, e-commerce, capital market settlements, and notably, payments for AI agents. Circle's management emphasized that stablecoin growth is now decoupled from crypto market cycles, driven by this diversification. They outlined five key application layers and highlighted USDC's network effects, global liquidity depth, and regulatory compliance as competitive moats. Circle distinguishes USDC from bank-issued tokenized deposits, arguing the former is an open, internet-native system without bank credit risk. Strategically, Circle is building a broader fintech platform with its Arc Layer 1 blockchain, the Circle Payments Network for cross-border transfers, and an "Agentic Stack" to serve AI agent economies, where USDC already dominates. Regarding regulation, Circle views potential U.S. legislation like the CLARITY Act as a catalyst for growth rather than a constraint, expecting it to encourage broader institutional adoption and active usage. Goldman Sachs maintains a Neutral rating on Circle with a $96 price target, noting the company's shift from a pure stablecoin issuer to a financial infrastructure provider. Key risks include competition from USDT and potential earnings pressure from declining interest rates on its reserve assets.

marsbit18 dk önce

Goldman Sachs Research Report Analysis: Circle and USDC Are Moving Beyond the Crypto World, Cross-Border Payments and AI Agents Become New Battlegrounds

marsbit18 dk önce

The Robinhood Stock Tokens You Bought Are Just Debts from Jersey Island

The Robinhood stock tokens you buy are essentially debt securities issued by a shell company in Jersey, not real equity. These tokens merely track stock prices like NVIDIA or Apple but grant no shareholder rights like voting or dividends. If the underlying company fails, you have no claim on its assets. Instead, you hold a debt instrument from Robinhood Assets (Jersey) Limited, which promises returns based on stock performance. If this Jersey entity goes bankrupt, you become an unsecured creditor. This complex structure stems from Robinhood's past crisis during the 2021 GameStop short squeeze, where T+2 settlement caused liquidity issues. The blockchain-based tokens enable instant settlement, theoretically preventing such trading halts. The product is classified by the SEC as a "linked security" or structured note, carrying counterparty risk not borne by actual shareholders. It is available globally but excluded from the US, UK, and other major markets, while Robinhood offers a fully compliant, asset-backed token model in Europe under MiFID II. The system relies on oracles for pricing, which poses risks like manipulation and faulty liquidations seen in DeFi exploits. Robinhood profits from spreads and aims to become a full-chain settlement layer. Meanwhile, competitors like Ondo have launched SEC-registered, fully compliant equity tokens in the US with actual voting rights and dividends. Robinhood’s Jersey debt model appears as a transitional, regulatory-arbitrage product, aiming to capture market share ahead of future regulatory clarity.

Foresight News51 dk önce

The Robinhood Stock Tokens You Bought Are Just Debts from Jersey Island

Foresight News51 dk önce

İşlemler

Spot
活动图片