Overview of USYC on Solana - USYC is now available on Solana, functioning as a tokenized money market fund [1] - USYC accrues yield through token price increases and redeems to/from USDC onchain [1] - USYC features daily pricing, SPL-native integration, and oracle-driven updates [1] Potential Use Cases for Builders - Integrate USYC as an interest-bearing asset in lending protocols [2] - Enable USYC to serve as yield-generating collateral for perp trading [2] - Incorporate USYC into onchain yield-optimization vault strategies [2] Key Problems Addressed - Traditional collateral on many venues is static, failing to capture yield and underutilizing capital [1] - USYC aims to address these inefficiencies for eligible users [1]

Ethena's Core Strategy - Ethena is reimagining stablecoins by designing USDe to generate yield for traders using it as collateral across major exchanges [1] - The protocol employs a delta-neutral strategy, using crypto collateral and short positions to maintain USDe's peg [2] - Ethena generates yield from funding rates and staking rewards, passing these on to sUSDe holders, resulting in a 19% average return in 2024 [3] USDe's Unique Positioning - USDe differs from traditional stablecoins like USDT and USDC, focusing on yield generation and capital efficiency rather than payment velocity [3][4] - Approximately 78% of USDe is positioned to earn yield, with 42% in the sUSDe staking contract and 26% in centralized exchanges [5] - During market crashes, Ethena retained an average of 762% of its TVL, exceeding blue-chip lending protocols like Aave at ~62% [5] Derivatives Market Focus - Ethena's primary growth strategy is to become the default collateral for derivatives trading, which accounted for 68% of all cryptocurrency trading in 2024 [7] - USDe offers capital efficiency by allowing traders to cover trading costs with yield and build collateral buffers automatically [7][8] - Major exchanges like Bybit, Deribit, MEXC, Gate, Binance, Kraken, and Coinone have integrated USDe as collateral [8] Regulatory Strategy - Ethena is building inroads with TradFi through USDtb, which is backed by tokenized U S Treasuries [9][10] - USDtb offers regulatory clarity for institutional players, aligning with current and proposed regulatory standards [10] - USDtb accounts for approximately 125% of Ethena's total stablecoin supply, serving as a bridge to traditional finance [11]

Core Message - The company highlights the underutilization of collateral in trading, emphasizing its potential value [1] - The company is preparing an announcement for September 30 [1] Focus - The announcement likely pertains to a solution or product that addresses the inefficient use of collateral [1]

Regulatory Developments - CFTC (商品期货交易委员会) 代理主席 Caroline D Pham 宣布一项倡议，允许稳定币首次在美国衍生品市场用作代币化抵押品 [1] - 此举是在 2 月份的加密货币 CEO 论坛上讨论了这一想法之后采取的 [2] Market Sentiment - 市场情绪看涨，认为稳定币作为抵押品具有积极意义 [1] - 呼吁对认可投资者法进行改革 [1]

Platform Update - Orderly Network expands multi-collateral options to BNB Chain [1][2] - Users can now utilize $BNB as collateral for trading across 133+ trading pairs [1][2] Trading Features - The update aims to improve capital efficiency and liquidity for traders [2] - Eliminates the need for conversions, enabling direct trading [2]

Company Overview - People's Reserve focuses on Bitcoin-powered finance, aiming to integrate Bitcoin into traditional financial products for everyday individuals [2][11][14] - The company positions itself to leverage the monetization and financialization of Bitcoin, optimizing traditional business models by integrating Bitcoin [14][16] - People's Reserve aims to be a one-stop shop for life, Bitcoin, and real estate, offering a suite of borrow, earn, and financial products [1][3][11] Products and Services - Bitcoin-powered mortgages allow Bitcoin holders to unlock purchasing power without relinquishing ownership [2][25] - Bitcoin Bonds (principal-protected notes) combine US Treasuries with Bitcoin, offering a low-risk, high-reward cash flow vehicle for both individuals and SMBs [3][28][29][30] - Real World Asset Property Claim enables loyalty members to claim the tax-assessed value of their property, transforming trapped home equity into liquid equity [45][47][48] - Bitcoin line of credit and self-repaying Bitcoin mortgage are offered to customers with Bitcoin, mitigating price volatility based liquidation risk through adjustable interest rates [54][56][61] Tokenomics and Loyalty Program - The PRN token is used to track loyalty within the People's Reserve ecosystem, offering benefits such as reduced costs on products and services [79][81] - Loyalty tiers (Basic, Silver, Gold, Diamond) determine the cost of services, with Diamond level members receiving the most significant discounts, such as access to mortgage rates as low as 35% [81][83][84] Risk Management and Security - People's Reserve emphasizes no rehypothecation of Bitcoin collateral, with assets held in a special purpose vehicle detached from the company's balance sheet [73][74] - The company differentiates itself from previous lending failures (BlockFi, Celsius, etc) by prioritizing customer value and establishing trust through secure practices [71][75][76]

RT Bybit Alpha (@BybitAlpha)📢 Good news: The collateral value ratio for $MNT has been adjusted across UTA Loan, Crypto Loan, and INS Loan, making MNT more favorable as collateral on Bybit.Learn More: https://t.co/SieLEQ8FRY https://t.co/UbJCX4bAob ...

Market Demand - Strong user demand exists for using tokenized stocks as collateral [1] - The market shows massive demand for Real World Assets (RWAs) as collateral, including both liquid and illiquid assets [1] - Few productive secondary markets currently exist for these assets [1] Tokenization & Collateralization - StormbitX now supports tokens, paving the way for bringing RWAs as collateral [1] - The next frontier involves using RWAs (both liquid and illiquid) as collateral [1]

Debt Types - Secured debt is backed by collateral [1] - Unsecured debt isn't backed by collateral and often has higher rates [1] Risk Management - Understanding the difference between secured and unsecured debt is important before borrowing [1]

Market Dominance - Tether 在中心化交易所 (CEX) 抵押品和新兴市场 (EM) 转账流量中占据主导地位，保持其作为最赚钱的发行人地位 [1] Profitability - Tether 的利润现在可以与最大金融 ETF 中的金融巨头相媲美 [1]