Core Insights - The report by Messari titled "USDD 2.0 - New Horizons" analyzes the latest developments and strategic layout of the decentralized stablecoin USDD, highlighting its self-sustaining and growth-oriented on-chain financial system through innovative designs like over-collateralization, the Peg Stability Module (PSM), and the Smart Allocator [1][3]. Group 1: USDD's Performance and Mechanisms - Since its relaunch in January 2025, the USDD 2.0 protocol has shown robust growth, with total collateral value exceeding $620 million as of early September 2025, consistently maintaining an over-collateralized state above the circulating supply of USDD [3]. - The PSM is identified as a core mechanism for maintaining USDD's price stability, allowing users to exchange USDT/USDC for USDD at a 1:1 ratio, effectively anchoring its price around $1 through an arbitrage mechanism [6][10]. - In the third quarter, the value of USDD's collateral increased by 5%, outpacing the 3% growth in stablecoin supply, indicating a strengthening collateralization rate during the transition to a multi-chain deployment [6]. Group 2: User Engagement and Demand - User exchanges of USDT/USDC for USDD surged from $1.15 billion in the second quarter to $2.5 billion, marking a 117% quarter-over-quarter increase, while redemptions rose from $1.24 billion to $2.7 billion, a 119% increase, demonstrating PSM's effectiveness in managing large demand fluctuations [6][8]. Group 3: Innovation and Security - The Smart Allocator mechanism is designed to invest reserve funds into low-risk DeFi protocols to generate real returns, transitioning USDD from a subsidy-driven model to a self-sustaining economic engine [8]. - USDD's new contracts on Ethereum have undergone a comprehensive audit by CertiK, ensuring security for large-scale applications and enhancing its stability within the DeFi ecosystem [10].

最近为了获得 Falcon 的不可稀释额度，大家应该看了不少有关 Buidlpad @buidpad 打新的攻略了，作为一个从早期就开始关注的长期跟进者来说很是欣慰。还好看了眼我还在 Falcon @FalconStable 排行榜上的第 8 名，看来后来者还是没有卷过有存钱获得 miles 的我 😂$FF Community Sale 能获得 TGE 100% 解锁的筹码，应该也是这个 WLFI 投资的特朗普概念稳定币项目最后的上车机会了，详细规则和介绍可以查看 Buidlpad 官方的置顶文章简略说下，就是一个稳定币收益协议，核心在于超额的通用抵押+双代币模型：- 合成美元 USDf：链上资产（BTC、ETH、SOL、稳定币和一些被承认的山寨币）以及 RWA 都可以铸造合成美元 USDf；而且 Falcon 的保障来自于“超额抵押”（数据在下面）- 收益型代币 sUSDf：这是质押 USDf 后得到的收益型代币，收益可组合（费率套利、跨市场套利、流动性等），灵活性更大，可以挖掘资产的更多可能性📊 数据表现：- 15 亿 USDf 流通量 + 超 16 亿美元等值储备（合在一起就是上面说的超额质押）- Pe ...