Core Insights - The integration of digital tokens in industrial finance can link all segments of the financial ecosystem, driven by innovations such as artificial intelligence and stablecoins [1] - The regulatory framework for stablecoins is evolving, with a shift towards treating them as financial derivatives rather than traditional banking or securities, which alters their operational logic [3] - Digital tokens can address asymmetries in supply chain finance, enabling instantaneous transactions and reducing costs by converting interest-bearing transactions into non-interest models [4] Regulatory Changes - Stablecoins are now being incorporated into a financial derivatives regulatory framework, which emphasizes a 1:1 peg to assets like US dollars or government bonds [3] - The requirement for stablecoin issuers to hold highly liquid assets in custody, such as one-year US dollar certificates of deposit and government bonds, is crucial for operational efficiency [3] Technological Innovations - The use of AI in industrial transformation highlights a critical chain from computing power to electricity, with green energy playing a pivotal role in this evolution [4] - The concept of "virtual power plants" combined with cloud services allows green energy producers to connect directly with users, enhancing efficiency and reducing reliance on traditional power grids [4] Industry Transformations - The automotive industry is transitioning from manufacturing to service-oriented models, with autonomous vehicles leveraging over-the-air updates to enhance service offerings [5] - The digitalization of labor data from gig economy workers can be transformed into data assets, allowing for equity returns through participation in digital platforms [6] Future Directions - The three core ecological niches for the development of industrial digital finance include the restructuring of financial foundations through stablecoins, the penetration of AI and green energy into industrial logic, and the redefinition of manufacturing and service boundaries through autonomous vehicles [6] - An open and collaborative approach is essential for various stakeholders to participate deeply in the advancement of digital finance, ensuring high-quality development [6]

HEST是Hash Epoch平台的核心功能代币，总供应量10亿枚，采用通胀+通缩 机制平衡生态需求。1、代币分配50% ：锁仓用于损失补偿机制（保障用户权益）。30% ：流动性池与生态激励（支持DeFi质押、LP奖励）。10% ：机构与团队（4年线性释放）。5% ：项目方收益奖励（激励优质内容）。2.5% ：节点挖矿（支持治理与验证）。2.5% ：社区空投与活动（初期用户获取）。2、经济机制设计3、价值捕获使用场景绑定 ：HEST是参与竞猜、支付手续费、治理投票的唯一媒介。收益共享 ：用户通过质押代币获取平台收入（如交易费、流动性收益）。平台收入来源：项目上架费、交易手续费、DeFi 协议分润。代币应用场景：a 支付媒介：参与竞赛、支付手续费、购买 NFT 身份。b 治理权益：投票决定平台发展方向（如项目上线、参数调整）。c 金融工具：质押生息、杠杆借贷、流动性挖矿。 ...

Core Viewpoint - The acting chair of the U.S. Securities and Exchange Commission (SEC) expresses a desire to engage with market participants regarding issues related to tokens [1] Group 1 - The SEC aims to facilitate discussions on token-related matters to better understand the market dynamics [1] - The initiative reflects the SEC's ongoing efforts to regulate the cryptocurrency market and ensure compliance with existing securities laws [1] - Engaging with market participants may lead to clearer guidelines and regulations surrounding the use of tokens [1]

Investment Strategy - The industry suggests retaining potentially valuable tokens in watchlists [1] - The industry advises against deleting any promising tokens from watchlists [1]

Core Viewpoint - The relationship between Real World Assets (RWA), smart contracts, and tokens is crucial for the implementation and value realization of RWA in the blockchain ecosystem [1]. Group 1: Relationship between RWA and Smart Contracts - Smart contracts play a central role in the realization of RWA by enabling the digitalization and tokenization of assets [3]. - They automate the management and operations of RWA, including transactions, profit distribution, and settlement [4]. - For example, a token representing a rental property can automatically collect rent and distribute profits to token holders [5]. - In supply chain finance, smart contracts can track the payment status of receivables and ensure asset authenticity [6]. - The transparency and immutability of smart contracts address trust issues in traditional finance by verifying off-chain asset authenticity and recording transactions [7]. - Smart contracts can embed compliance rules, such as KYC and AML, ensuring that RWA token transactions adhere to local regulations [8]. Group 2: Relationship between RWA and Tokens - Tokens serve as the digital representation of RWA on the blockchain, acting as the medium for value transfer [10]. - The core concept of tokenization involves converting ownership or profit rights of real-world assets into digital tokens on the blockchain [10]. - Tokenization can be full, where one token corresponds to an entire asset, or partial, where an asset is divided into multiple tokens representing fractional ownership [11]. - RWA tokens derive their value from the underlying real-world assets, with price fluctuations typically linked to the value of these off-chain assets, unlike traditional cryptocurrencies [12]. - Types of tokens include equity tokens (representing ownership), revenue tokens (representing profit rights), and debt tokens (representing debt assets) [13]. - Tokens can be freely traded on the blockchain, enhancing asset liquidity, and can be used for financing, profit distribution, and collateral in lending agreements [13]. Group 3: Synergistic Effect of RWA, Smart Contracts, and Tokens - The implementation of RWA relies on the synergy between smart contracts and tokens, which can be illustrated through a process flow [15]. - The process begins with asset registration and verification off-chain, followed by the generation of corresponding tokens based on asset value [15][16]. - Tokens are traded on the blockchain, with smart contracts automating asset transfer and profit distribution according to predefined rules [17]. - Upon asset maturity or redemption, smart contracts can destroy tokens and return profits to token holders [18]. - The advantages of this synergy include increased efficiency, transparency, and reduced costs in asset management and transactions [22]. Group 4: Applications and Use Cases - RWA, smart contracts, and tokens can be applied in various sectors, such as real estate tokenization, supply chain finance, and art investment [22]. - Real estate can be tokenized into smaller units, allowing investors to purchase fractional tokens [22]. - Companies can tokenize receivables through smart contracts for financing purposes [22]. - Art pieces can also be tokenized, enabling ordinary investors to participate in high-end art investments [22].