Core Insights - The company, Olading Origin, is building a comprehensive financial ecosystem that transcends traditional DeFi limitations and redefines financial services in the Web3.0 era [1] Financial Infrastructure: Building the Ecosystem Foundation - Olading Origin has established a complete lending platform and wealth management section, utilizing a unique risk pricing model for dynamic interest rate adjustments based on on-chain credit ratings. The platform's total lending and deposit volume has surpassed $500 million, becoming a stable cash flow source within the ecosystem [2] Trading Innovations: DEX 2.0 and Cross-Chain Hub - The launch of the DEX 2.0 platform integrates turbo trading mechanisms and liquidity aggregation algorithms, achieving near-zero slippage in trading experiences. The cross-chain trading hub supports asset swaps across 12 mainstream public chains, addressing liquidity fragmentation issues, with a monthly trading volume growth rate exceeding 300% [4] Payment Revolution: From On-Chain to Offline - Olading Origin is pioneering the integration of crypto payments into mainstream scenarios through the LGNS gateway protocol, enabling seamless exchanges between various digital assets. The collaboration with VISA to launch a crypto debit card has made digital assets usable for everyday payments, with over 100,000 monthly transactions across more than 50 countries [5] Hardware Ecosystem: Depin Strategic Layout - In the decentralized physical infrastructure network (Depin) sector, Olading Origin has introduced the Wbekey multi-chain mobile ecosystem, which supports multi-chain asset management and allows users to participate as nodes in various blockchain networks. The product's pre-sale sold out in the first week, indicating a promising future for the integration of hardware and finance [6] Frontier Exploration: Future-Oriented Layout - The company is exploring the metaverse by developing VR financial interaction scenarios, testing a Web3.0 social platform that integrates financial behavior into social interactions, and establishing an AI financial lab focused on creating intelligent advisory systems based on large models. The synergy among various sectors within the ecosystem has resulted in a 45% inter-business flow rate, significantly higher than the industry average [8] Differentiated Advantages Compared to Traditional Financial Groups - Unlike centralized institutions constrained by regulatory barriers and departmental silos, Olading Origin leverages blockchain technology for genuine business integration. The rapid iteration of product development through smart contracts contrasts with the lengthy cycles of traditional finance. All ecosystem value is captured by the LGNS token, creating a positive feedback loop [10] Future Outlook - With the addition of more innovative sectors and deeper integration of existing businesses, Olading Origin aims to create a self-sustaining crypto economic system where financial services actively create value and permeate all aspects of digital life, potentially serving as the foundational infrastructure for the next generation of internet economy [11]

Core Viewpoint - Huajian Medical (1931.HK) has announced a strategic partnership with ETHK Group to establish two new companies, ETHK Inc and ETHK HOLDINGS LIMITED, aimed at enhancing its position in the blockchain financial ecosystem [1] Group 1: Strategic Partnership - The collaboration with ETHK Group signifies a strategic upgrade for Huajian Medical as a provider of blockchain financial infrastructure [1] - ETHK Inc will focus on creating a compliant and open decentralized financial platform [1] - ETHK HOLDINGS LIMITED will be responsible for global digital industry investments and mergers and acquisitions [1] Group 2: Business Model - The new companies will integrate resources through a "assets-funds-licenses" triad model [1] - This initiative aims to promote the overseas expansion of quality Chinese assets [1] - The partnership seeks to establish a new paradigm for global value flow [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責 任。 IVD Medical Holding Limited 華檢醫療控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1931） 透 過「ETHK」核 心 品 牌 深 化 全 球 鏈 上 金 融 生 態 戰 略 佈 局 本 公 告 乃 由 華 檢 醫 療 控 股 有 限 公 司（「本公司」或「華檢醫療」，連 同 其 附 屬 公 司 統 稱「本集團」）自 願 作 出，旨 在 向 股 東 及 潛 在 投 資 者 提 供 本 集 團 業 務 發 展 的 最 新 資 料。 本 公 司 董 事 會（「董事會」）欣 然 宣 佈，本 公 司 於 近 期 與ETHK Group（「合作方」）達 成 合 作，共 同 投 資 成 立 兩 家 新 公 司ETHK Inc及ETHK HOLDINGS LIMITED（「合 資 公 司」）。合 資 公 司 將 成 為 ...

Core Insights - The rapid development of blockchain technology presents limitless possibilities for decentralized finance, but liquidity shortages remain a critical bottleneck for long-term project development [1] - The introduction of the Turbo Trading Mechanism by Olading Origin offers a revolutionary design that fundamentally reconstructs liquidity supply and achieves a dynamic balance between user incentives and ecosystem health [1] Mechanism Innovation - The core innovation of the Turbo Trading Mechanism is the binding relationship between withdrawal actions and liquidity replenishment, addressing the liquidity challenges in the DeFi space [2] - When users request to withdraw dynamic earnings, the system requires them to purchase an equivalent amount of LGNS tokens at a 1:1 ratio, ensuring that every withdrawal is accompanied by a liquidity injection [2] Technical Implementation - The Turbo Trading Mechanism is built on a highly coordinated smart contract system, with transaction verification contracts ensuring compliance with the 1:1 ratio rule [3] - A time-lock contract introduces a 24-hour silent period for purchased tokens, providing a window for the market to absorb new liquidity and alleviating short-term selling pressure [3] Economic Model and Market Impact - The economic value of the Turbo Trading Mechanism lies in its creation of a positive feedback liquidity loop, overcoming traditional liquidity solutions' reliance on external incentives and misalignment of user behavior with ecosystem interests [6] - Post-implementation, the mechanism led to a 180% increase in swap trading volume and a 40% reduction in the bid-ask spread for LGNS tokens, indicating improved market depth [6] Market Stability - The Turbo Mechanism features designs that automatically adjust to market conditions, smoothing short-term volatility and ensuring liquidity supply aligns with actual demand [7] - The 24-hour silent period provides participants with a cooling-off period during market downturns, enhancing the system's robustness [7] Comparative Advantages and Industry Insights - Compared to traditional liquidity solutions, the Turbo Trading Mechanism avoids reliance on external incentives and ensures continuous liquidity supply through its internal design [9] - The mechanism balances immediate user satisfaction with long-term stability, allowing users to receive withdrawals promptly while maintaining system stability through delayed releases [9] - It redefines the relationship between participants and the ecosystem, transforming individual withdrawal actions into contributions to ecosystem health, thus providing a new governance model for blockchain projects [9] Broader Implications - The Turbo Trading Mechanism represents a new blockchain economic philosophy, demonstrating that individual rationality can align with collective interests through clever design [10] - This innovation may set a new standard for addressing liquidity challenges in blockchain projects, guiding the design direction for the next generation of DeFi economic models [10]

Core Viewpoint - The company is going public with an IPO priced at $25, amidst significant interest due to its innovative use of blockchain technology in loan origination and the retention of founder control, which is believed to enhance performance [1][4]. Company Strategy - The company has originated over $17 billion in loans on public blockchain and completed over $55 billion in transactions, demonstrating rapid growth despite regulatory challenges [4]. - The focus is on leveraging blockchain for real-world assets, with plans to expand into equities as the next major area of growth [6][5]. - The company aims to conduct a second issuance of stock native to blockchain, which is expected to introduce efficiencies and liquidity benefits [7]. Market Position - The company positions itself as a leader in the blockchain space, akin to the "magnificent seven" of Web 2.0, and is excited about the potential of tokenized real-world assets [5]. - It emphasizes the importance of retail investors, having allocated a significant portion of the IPO to them, while also recognizing the critical role of institutional partners [9]. Competitive Advantage - The company has built a unique liquidity ecosystem called "figure Connect," allowing originators to access capital outside traditional channels, which is seen as a significant competitive moat [11]. - The anticipated impact of the Stablecoin Act is expected to stress traditional banks, creating opportunities for blockchain and decentralized finance to fill the void [12][13]. Resilience and Future Outlook - The company claims to be somewhat insulated from the volatility of crypto markets, focusing on the transactional efficiency and liquidity benefits of blockchain [15]. - It plans to raise capital for potential acquisitions in the blockchain space, which is viewed as an area ripe for consolidation [16][17].

Core Viewpoint - The launch of the 21Shares dYdX ETP provides European investors with access to a leading decentralized derivatives platform, enhancing 21Shares' product offerings in the crypto asset space [1][2]. Company Overview - 21Shares AG is one of the largest issuers of crypto exchange traded products (ETPs) globally, with a current lineup of 48 crypto-asset ETPs and total assets under management (AUM) of $11 billion [2][5]. - The company aims to bridge traditional finance and decentralized finance, having launched the world's first physically-backed crypto ETP in 2018 [5]. Product Details - The 21Shares dYdX ETP (ticker: DYDX) is 100% physically-backed and tracks the performance of the dYdX platform, which is known for offering perpetual future contracts [3][7]. - The dYdX platform has maintained 15,000 weekly active traders and generated $7.7 billion in trading volume in July, with a projected total addressable market of $4 trillion by year-end [3][4]. - dYdX has distributed over $50 million in real USDC to its users, creating a sustainable value model that enhances its growth potential [3]. Market Position - The dYdX platform has facilitated over $1.5 trillion in cumulative trading volume, accounting for more than 20% of the $7.2 trillion transacted across decentralized perpetuals to date [4]. - The introduction of the dYdX ETP is seen as a significant milestone for institutions looking to engage with innovative crypto derivatives markets [4].

Group 1 - Binance and Franklin Templeton announced a collaboration to create digital asset programs and solutions for various investors [1] - Sandy Kaul, EVP of Franklin Templeton's Innovation Business, stated that the partnership will leverage tokenization technology to provide institutional-grade solutions to a broader range of investors, bridging traditional and decentralized finance [1] - Catherine Chen, head of Binance VIP and institutional business, emphasized that the strategic partnership aims to develop new products and plans, further solidifying Binance's commitment to connecting crypto assets with traditional capital markets and expanding new opportunities [1]

Group 1 - The core argument is that the legalization of stablecoins does not guarantee their acceptance or success in all payment scenarios, as they are not legal tender and have specific application contexts [1][2][7] - The recent legislation in the US, Hong Kong, and the EU aims to regulate stablecoins, but existing stablecoins may not comply with the new rules, necessitating a transition period for issuers [2][4] - Stablecoins are primarily seen as payment intermediaries rather than currencies themselves, and their use is contingent on the existence of a transaction need [2][7] Group 2 - The article outlines four potential strategies for stablecoins post-legalization: maintaining existing markets while exploring new ones, reducing gray areas, integrating mainstream transactions on-chain, and identifying unique payment scenarios [8][10] - Current stablecoin applications are categorized into four types: virtual world payments, cross-border transactions to evade sanctions, usage in countries with unstable currencies, and illegal activities [8][9][10] - The main challenge for stablecoins in mainstream payment scenarios is that they do not offer advantages over legal tender in environments where the latter is readily available [10][11][13] Group 3 - Retail payment scenarios for stablecoins include general retail transactions and merchant-issued stablecoins, which face limitations in acceptance across different platforms [12][11] - In domestic and cross-border trade payments, stablecoins have not demonstrated significant advantages, as traditional currencies remain the preferred method for transactions [13][14] - The potential for stablecoins to serve as a transitional tool for companies navigating foreign exchange regulations is highlighted, particularly for businesses operating in multiple jurisdictions [15][16] Group 4 - The article discusses the concept of tokenized financial instruments, such as bills of exchange, which may be more appealing than stablecoins due to their dual function of payment and financing [19][20] - The idea of deposit tokenization is presented as a more advantageous alternative to stablecoins, as it directly links to bank deposits and offers seamless integration with existing banking systems [20] - The regulatory landscape in the US is characterized by a balance between maintaining financial order and allowing space for innovation in the cryptocurrency sector [21][22]

Core Insights - Hyperliquid is gaining traction in decentralized finance, attracting interest from Wall Street and investment firms like VanEck, which aims for deeper involvement in the platform's ecosystem [1][6]. Group 1: Hyperliquid's Growth and Offerings - Hyperliquid has emerged as a leading decentralized exchange for perpetual futures and spot trading, boasting billions in daily trading volume and challenging centralized exchanges like Binance [4]. - The introduction of USDH, Hyperliquid's native stablecoin, aims to decrease reliance on third-party stablecoins such as USDT and USDC, enhancing liquidity and revenue within its ecosystem [5][6]. Group 2: Institutional Interest and Competitive Landscape - The announcement of USDH has ignited a bidding war among asset managers and DeFi firms, with multiple proposals submitted on how the stablecoin could be issued and managed [7][8]. - Agora, a white-label stablecoin issuer co-founded by Jan van Eck's son, has presented a notable proposal for USDH, positioning it as a "hyper-native" asset fully integrated into Hyperliquid [8]. Group 3: VanEck's Involvement - VanEck CEO Jan van Eck has expressed strong support for Hyperliquid, highlighting the firm's positive outlook and eagerness to contribute to the platform's development [2][6]. - Discussions with leading HyperEVM builders are ongoing, indicating VanEck's commitment to exploring new ways to support Hyperliquid [3].

Core Viewpoint - The article discusses the recent decline in the U.S. labor market, as evidenced by the lower-than-expected job growth reported by ADP, which has implications for the Federal Reserve's interest rate decisions and the performance of the stock and cryptocurrency markets [2][3]. Employment Data - In August, U.S. private sector employment increased by only 54,000 jobs, falling short of the expected 65,000 and significantly down from the revised 106,000 in the previous month [2]. Market Reactions - The disappointing employment data has reinforced expectations that the Federal Reserve may resume interest rate cuts, leading to a rise in U.S. stock markets and a rebound in U.S. Treasury yields [3]. Cryptocurrency Market Impact - On the same day, cryptocurrencies and related companies experienced a significant downturn, particularly those associated with the Trump family, with some tokens and companies seeing declines of up to 50% [4][6]. DAT Companies and Regulatory Concerns - Nasdaq is reportedly planning to impose regulations requiring DAT companies to obtain shareholder approval before issuing new shares to purchase cryptocurrencies, which could slow down the current trend of companies transitioning to DAT models [7][8]. Financial Strategies of DAT Companies - A total of 184 publicly traded companies have announced intentions to raise over $132 billion to invest in various cryptocurrencies, utilizing stock issuance as a means to acquire digital assets without incurring additional debt [8]. WLF Project and Market Sentiment - The World Freedom Finance (WLF) project, supported by the Trump family, aims to create a new financial system through its stablecoin USD1 and has faced scrutiny regarding its governance and token distribution [9][10]. Investor Concerns - Investors have expressed concerns about the liquidity and transparency of the WLFI token, particularly regarding the potential for significant price volatility due to the project's reliance on public interest and the Trump family's involvement [10].