Project Overview - Chips Protocol is building a blockchain focused on speculation [1] - The chain is open-source, permissionless, and plug-and-play, with two dApps in beta [1] Tokenomics - $CHIPS powers the ecosystem, aiming to deliver value to users, holders, and builders [1] Key Events - IDO is ongoing [1] - TGE (Token Generation Event) is scheduled for August 12th on MEXC [1]

Summary of the BRICS+ Payments System Conference Call Industry Overview - The document discusses the evolving payments system among BRICS+ countries, focusing on the de-dollarization efforts and the development of independent payment infrastructures separate from US and Western systems [2][4][11]. Key Points and Arguments 1. **De-dollarization Debate**: The debate on the US dollar's reserve currency status is intensifying due to geopolitical fragmentation and the use of financial sanctions by the US and its allies [2][4]. 2. **BRICS+ Payment Sovereignty**: BRICS+ countries are pursuing 'payments sovereignty' by developing independent payment infrastructures, which are at various stages of discussion and implementation [4][11]. 3. **Challenges to Alternative Systems**: Geopolitical factors and divergent national objectives among emerging market countries pose significant challenges to establishing an alternative payments system, rather than technical barriers [4][8]. 4. **Multi-CBDC Platform**: The potential for a multi-Central Bank Digital Currency (CBDC) platform is highlighted, with several BRICS+ countries advancing their domestic digital payment infrastructures [4][9]. 5. **Role of Multilateral Institutions**: Institutions like the AIIB and NDB are seen as foundational for an alternative international financial system, although they currently lack sufficient liquidity support mechanisms [4][11]. 6. **SWIFT and CHIPS**: The document emphasizes the importance of SWIFT and CHIPS in the current global payments architecture, with the dollar accounting for nearly half of all SWIFT transactions [27][31]. 7. **BRICS+ Leaders Summit**: The upcoming BRICS+ leaders summit in Rio de Janeiro is expected to focus on trade, investment, and finance, but no major announcements regarding de-dollarization are anticipated [11][50]. Additional Important Content 1. **Historical Context**: BRICS countries have long opposed the existing international financial architecture, advocating for greater representation of emerging economies [6][38]. 2. **Geopolitical Dimensions**: The geopolitical landscape, particularly following Russia's invasion of Ukraine, has intensified discussions around reducing reliance on the dollar [40][41]. 3. **Future Initiatives**: Various proposals for de-dollarization are being discussed, including a BRICS common currency and cross-border payment initiatives, though many remain in the proposal stage [51][54]. 4. **Political Will**: The main hurdle to establishing an alternative payments architecture is political will, as diverging objectives within BRICS+ countries complicate consensus [9][40]. 5. **US Response**: The US has expressed concern over BRICS+ de-dollarization efforts, with former Treasury Secretary Janet Yellen emphasizing the importance of protecting the dollar [47][48]. This summary encapsulates the critical insights from the conference call regarding the BRICS+ payments system and the ongoing efforts towards de-dollarization, highlighting both the challenges and potential pathways forward.

Core Viewpoint - The article discusses the continued cooling of U.S. inflation data in April 2025, with the Consumer Price Index (CPI) showing a year-on-year decrease to 2.3%, slightly below market expectations, and a month-on-month increase of 0.2% [1][6][7]. Group 1: Inflation Data Analysis - The CPI year-on-year decreased to 2.3%, down from 2.4% in the previous period, while the month-on-month change was +0.2%, compared to -0.1% previously [1][6][7]. - Core CPI remained stable at +2.8% year-on-year and increased by 0.2% month-on-month, indicating persistent inflationary pressures [1][10][11]. - The Cleveland Fed's Trimmed Mean CPI for April was 2.97%, slightly lower than the previous 2.99%, suggesting a continued decline in inflation breadth and stickiness [10][11]. Group 2: Structural Components of CPI - Food prices showed a month-on-month decrease of 0.1%, primarily driven by a drop in household food prices, which fell by 0.4% [2][8][11]. - Core goods and services prices increased month-on-month, with medical goods contributing significantly to this rise [2][11][12]. - The core services index rose by 0.3% month-on-month, higher than the previous 0.1%, indicating a rebound in service-related inflation [2][11]. Group 3: Impact of Tariffs on Inflation - The article explores why U.S. CPI did not rise despite high tariffs, attributing it to factors such as the time lag in tariff transmission to consumer prices and preemptive stockpiling by consumers and businesses [3][14][15]. - The significant drop in egg prices, which fell by 12.7% month-on-month, also contributed to the overall CPI stability [3][14][15]. - The article notes that despite the reduction in effective tariff rates, the overall tariff levels remain higher than before the so-called "liberation day," indicating ongoing inflationary pressures [4][16][17]. Group 4: Market Reactions and Economic Outlook - The cooling inflation data positively impacted overseas risk assets, with U.S. stock markets showing strong performance, particularly in the technology sector [5][18]. - The Nasdaq index rebounded by 1.6%, with Nvidia's stock rising approximately 6% due to anticipated sales to Saudi Arabia [5][18]. - The article suggests that the current economic environment, characterized by stable inflation and reduced recession risks, may lead to a more favorable outlook for U.S. economic fundamentals [17][18].