Group 1: Core Insights - Stablecoins are entering a "2.0 era," characterized by community-driven digital money that promises faster and cheaper transactions, posing a threat to traditional banking systems [1] - The narrative surrounding stablecoins has shifted, with major financial institutions now eager to participate due to increased regulatory acceptance [2] - The new venture STBL aims to modernize the stablecoin model for the Web3 era, reflecting a significant change in the stablecoin landscape [2] Group 2: STBL Model - STBL divides a traditional stablecoin into three components: a stable token (USST) pegged to the U.S. dollar, a yield-bearing token (YLD) that captures interest from collateral, and a governance token (STBL) [3][7] - Unlike existing stablecoins like USDT or USDC, where issuers retain the yield on reserves, STBL's model returns the yield to users who provide collateral [4] - The platform utilizes tokenized U.S. Treasuries as collateral to issue a yield-bearing NFT and the stablecoin USST, allowing collateral providers to reap the rewards [5]