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A New Frontier for Stable Coins ๐Ÿช™๐Ÿ‘€

Recorded: May 10, 2023



Hi guys, Max and here from overnight great to see everyone and great crowd get together. Welcome, welcome. Glad it works. That's a great mic test as well. So Glad you're here Max and thanks for joining.
I can see we've got Helio in the house. Yeah, hello guys nice to be here and nice to have everybody in this to the space Thanks, thanks for joining Lorena and we've got K1 in the room. Hi, thank you for having us
Very lovely to be here tonight. I'm in Hong Kong, but wherever you are, maybe you could even eat a good morning for whoever's listening and from the States. Thanks for joining. Yes, it's definitely good morning. Good afternoon and good evening to cover all time zones now. I see Min has just entered the room from coin 98s.
Welcome, man. Just sir, hey guys, you know, decided to be here with you guys today and talking about stable const, which is with us is a product that we also been, you know, cooking out for a while now and yeah, we decided about this. So let's have a great time together.
Thank you. I see DeFi Dave has just requested. So let's give-- yeah, I think DeFi Dave is entering the half.
just give them a moment. And I'm just checking that we have everyone here.
Yep, we do it once the five day of connects. Fantastic.
Well then, whilst you've had Dave's collection, thank you all for joining for today's session. On a topic we've been covering an increasing depth over the last few weeks and months given the pace of change in this industry, which of course is nothing new.
especially for stablecoins. So really focusing today on the new front here for stablecoins with a special emphasis on decentralized stablecoins which are gathering a lot of momentum on being betrayed and in the defy industry overall. So we have a very special panel
with us to kind of jump into some of the key questions defining the space from really initially leading protocols building in the space. So I know we've had a little bit from each protocol from each person joining.
Hey, how's it going? Happy to be here. GM everyone. Well, we fantastic. Yeah, we can hear you perfectly well. Thanks for for joining. Well, to kick us off, it's probably great if we get quick intros to
So, I'm going to give a quick intro to yourself.
as well as a core and cultural contributor to FRAX. Been a part of the FRAX ecosystem for a long time and different capacities and with Flywheel we're really there in media arms so we do a lot of outreach promotion, education both online and in real life.
Welcome, welcome. Um, men, do you want to give a quick quick quick control to your side? Yeah, sure. Hey guys, this is Ming and the BD lead at coin 98.
And we are building a whole ecosystem along with like you know, Connet wallet Super this is super app with like over six million users and of course we're here to talk about
and we have Korea Dollar or CSD which is our stablecoin focusing on being a cross-shin unit that fulfills the demand of cross-shin degrading in DeFi and yeah great to be here today
Thank you. K1. Hi everyone. I'm K1 here from LaBatic Change. We're a stablecoin swap. I think most of our listener here knows. We're very capital efficient and some recent updated set. We just integrated with some new aggregators and I think the volumes are picking up pretty good.
Recently yesterday we did 15.8 24 hours reading volume so I'm doing pretty okay for now Amazing amazing and I know we have Another member of the one bad exchange team as well. Well, maybe that's just the account But I think Sherry might be here
with us as well. Welcome, Sherry. Yeah, that is Sherry, but I think she's down with COVID, so she's just turning it off. Oh, God, it goes well, too, Sherry. But yeah, thank you for tuning in. And then we have my
Max and from overnight, I would love for you to give a quick control, especially to yourself and overnight for those who may be less familiar with the protocol. Yeah, I'm Max and I'm relevant. I'm the founder of overnight, or founder in CEO. So, yeah, overnight is like one half year old project.
We are essentially in nest management protocol behind stablecoin USD+ and on being BCHE and also USDT+. These are stablecoins which are 100% characterized by yield generating strategies. Essentially, these stablecoins which just pay you yield.
You buy USD+, you put it in your wallet and it just grows in your wallet with rebase. You do nothing and you just get rebase and you get the yield just by holding it. It's very nicely used in all sorts of decentralized exchanges, but I think we'll have an opportunity to talk a little bit how great it is.
it is fits into Wombat. Thank you. Thank you. Hi guys. This is Norton from Helio Protocol. I'm the BDN Obsneed.
for a new protocol. So, it's an open source liquidity protocol for Boeing and the only yet ongoing decentralized stablecoin, also short name that's this stablecoin, so it's a new B&B bank that will overcollect your like this stablecoin. So,
So, we are actually aimed to predation hate as a leading decentralized stablecom in the BNB chain ecosystem by no-HLST proof of stake, rewards, new quest staking and yet very assets. So, in the future we will also open a subtle and we will have our goal
So where the community will be able to go and protocol switch away, the women, new pool and future direction. So yeah, a lot of good stuff to come in. Please stay tuned. Yeah, thank you guys. Thanks, Rana. So I know there's obviously, there's a big
of stablecoins and keen to get a view from the panel here on what makes a differentiated high-quality stablecoin proposition. Users are being spoilt for choice now, but how do you actually build something meaningfully different?
with like tangible value. So DeFi Dave would love your review from the experience of Frax. Yeah, I've got this started. So I think the top stablecoins or what will become the top decentralized stablecoins in the space will embody this concept known as stablecoin maximum.
We believe that for acts that on a long enough timeline not just stable coins, but all defy protocols will become stable coins or have a stable coin essential to its protocol and all those stable coins at scale will look the same universal in structure in the same way that you know airplanes you know must fly under the law
of aerodynamics, stablecoins and DeFi protocols must fly under the laws of stablecoin maximum. And how this structure is played out, it's a three-punks system, you have the stablecoin, which we all know. And then below you have the risk-free rate, whatever is the safest asset earning yield.
dollar stablecoins, treasuries, if it's an eithpeg stablecoin, it's proof of stake yield. And then you have the swap facility where you cannot actually exchange the stablecoins, whether it's from Sviyat into stablecoins, so that's the cash facility, or the eithpeg stablecoin into regular eith. So we believe all stablecoins will have the structure
and the most successful stable points at scale, we'll all actually converge on this universal structure. And Default, if just thanks for showing that sort of mental model by, just dig a little deeper. Am I right in saying that you said that all protocols will converge in the sense that they will all
Need to have their own stablecoin as defy materials and as an industry is that what you're suggesting? Yeah, so it's exactly what I'm suggesting you're actually seeing this play out in real time whether it's with Curve just releasing CRB or see yeah, whether it's a va coming out with go and you can even see this with fractured cells
with fraxy, fraxy, the best thought of as a eithpeg stablecoin, and even though it was later to launch from a competitor, Lido and Rockapool, it still catapulted to third in the liquid-saking token rankings. And that's because of the stablecoin structure to adopt it. So we expect all, you know,
DeFi protocols to you like have the structure in some form if they want to like really be successful and the net effect of that do you think that will lead to some some sort of fragmentation of liquidity because I think for for many perhaps users who are coming from or maybe new to web3 or new to defy or you know
And to intuitively, you might think that there's value in having just a few very large, very liquid stablecoins that people, you know, maybe what equivalent to what USDT is today. It seems like there's a paradigm shift happening, right? So what are the possible repercussions of that from that?
vision you see. In the same way, maybe like a few years, no people are saying, hey, there'll be a world of like, you know, thousands, if not tens of thousands of tokens out there and tens of thousands of cryptocurrencies. I think we'll see a world with a, you know, thousands, if not tens of thousands of stablecoins.
I don't think fragmentation of liquidity will be an issue because there'll just be so many different options out there that we won't even think twice about it. And I'm thinking like really at scale, really, I'm like talking about trillions at scale when there's tens of thousands of stable points. It's hard to imagine now because DeFi is still small and
in its infancy, but I think the stablecoins will have to figure out their liquidity issues on their own. I like to think of fractures like the liquidity machine in all this, through its partnership with curve and other protocols like Wall-Bad and other people that we work with.
Yeah, thanks for sharing. I'm really interested inside as well. Lorena, what's your view from where Hay sits in the VMU chain ecosystem today? It's getting a lot of traction. Has been its own differentiated profile. What's your take on this? Yeah, sure. Thank you, Ma'am. So for Hay,
First of all, it's it's engineer decentralized stable conduct is over-connecturalized with liquid state assets. So for example now with anchor BNB and the future where we have more collectual options and also more LSDs to end it to be ended and the way all we
we are always overcollectors by BNB and BSD. So engineering over overcollectualization is more than 321. So with this kind of ratio we can with like 3 wallet market movements and still the monthly collecturized one to still the monthly
need to pay to the USD/USD/USD dollars. Additionally, other than BTC or E-Serm, BNB has engineered one of the most deep-tested liquidity compared to other crypto assets out there on BNB chain, so that's engineered over unique
I wanted for building the BNB chain ecosystem. I mean, while the fans that came to the protocol years came from the new case taking the words which automatically convert into our hey the words and the way we are disrespected
to high-stakers and people widers. So which will allow us to offer like 0% of follow-insert rate, which is nothing because it's free, so we can still keep perfect for in the long run. So, engineering we can maintain, for example,
security and also the perfect for the interesting year for our communities and users in the meantime which I think is some competitive advantage for our haystable cons. Thanks, right? And it sounds like hay centuries.
that strategy here is really to you're making a bet on the growth of the liquid-saking sector, which of course is probably been the most rapid like the fastest growing segment in D5 this year. So you're kind of positioning yourself to kind of ride that wave as it grows, right? As it becomes such a fundamental
So how did you think of even building this in the first place? What was the unique insight? I know you have a lot of experience also in tradfires. So, Kinta, to get your thoughts on how you thought about building this like a moat or a competitive advantage here? Yeah, yeah. So thanks for for for for for
for the question. I think when you think about the stablecoins, it's actually very important to think about the value proposition and the business model behind it. So if you think about guys like UTT, it's really kind of means of payment. And really the core purpose is on kind of
serving is a means of payment but also on ramp and off ramp at scale. So that's very clear one business model and I think it has very unique advantages and very clear network effect. And for this type of stable coins, I think we expect to have two or three dominate the market.
kind of have very heavy regulation. Most likely the way it's going is that UDC is already having banking license and being very firmly regulated and more than everyone else will have to do the same. But then the what stablecoin is really very confusing for most of the people.
when we talk about what the curve is launching, the core by AVE and a few other stablecoins, those essentially in a 35-world would be data obligations or bonds essentially. You look at
a die is a lender. So they get collateral, like all sorts of volatile assets, they overculturize the dose, they take that as collateral, they give out loans in the form of die. And then they kind of provide rewards, which essentially the cost for them, the
the cost of borrowing. That's a means for them of paying interest. So that's really kind of a debt obligation. And if you think about that business model and my is like that, for example, and a few others, you know, curve is doing exactly the same. Essentially going to the lending business and funding themselves with
with the stablecoin. So if you really think about this, that model has much less of the network effect. And actually, with this business model, we can have thousands of stablecoins. Because like in the traditional world, we have thousands of bond issues, thousands of
companies and institutions which are providing lending and funding themselves in the markets. Here it's kind of the same. We can have hundreds and thousands of protocols doing CDP. A network effect is much much much much less straightforward but also more risky. So that leads us with our unique business model that you is
the plus. And USD plus is essentially is another type of stablecoin. They are 100% cultureized by assets which produce yield. And so the unique insight of how we have built this is you mentioned that I have some experience in Tradify. It's some point in time it occurred to me that the regulators in the
United States actually have invented stablecoins. 100 years ago the hate crypto, the fighting against crypto, but they have invented stablecoins, but they call them money market funds. It's actually very interesting because it occurred to me that even by regulation, the American regulation
the SEC and all these guys who are really anticliptor and we all hate. They have this regulation that the unit of the money market fund should always be one dollar and this unit should always produce yield. We should produce positive yield. Whenever it does not produce a positive yield, but every
it produces negative yield. And now, in terms of the tax down, they literally call it breaking the buck. Like, deep begging is breaking the buck in the words of the American regulators. Intercured to me that the world, when I have years ago, the world
the defy world really lacked somebody who would be like a yield bearing stablecoin or you know a defy money market fund. So that's what we have built. USD+ every unit, USD+ is $1. It pays you yield every day. It's kind of the same because it's plus with super low risk during bulls
run with focused on super low risk. It's called the lowest possible risk in DeFi and it pays you a yield daily from the yield to generate. So literally copy it from the money market fund type of structure. So yeah, and you know there are many funds
out there in traditional world. So I actually expect a lot of people also to start similar endeavors and everyone differentiates by how the managed collateral, how they able to produce yield, how much they allow its holders to earn. And so that's what we are trying to do. We are trying to give our holders the maximum possible yield.
Thanks very much, Simon. I think there's, and we've been talking about it a lot even for some time here, but like the, you know, the flight to kind of, or the move to like sustainable real yields is obviously on everyone's mind. So I mean, it's pretty compelling to kind of hear you talk about
how you've built it for overnight and all the USD+ type products. Man, I know Coinite has a very strong position in the ecosystem. Just like your thoughts on what was the story for Coinite launching a stablecoin in the space like
What was the opportunity you saw in the use case or differentiation that you were looking to build? >> Yeah, sure. I should be going to take a quick step back and as you mentioned, why we launched this stablecoin.
And nothing the very first day, you know, CoinAdiate, our mission has been, you know, trying to create this open financial infrastructure for like a multi-chain world. And yeah, the most popular and our core product is still the CoinAdwall, which is like a multi-chain non-stop
the audio wallet and we've been having other D5 products as well including Dex's, NFT marketplace, cross-chain bridge and Dex's aggregator as well. So yeah, in order to complete and build our next block
about the ecosystem. We definitely think about like we need a brand new, you need a account for a blockchain economy. So that's why we've been building out CSD. And yeah, I kind of agree with, you know, with different, the point about, you know, having a lot of like, you
stablecoins coming down all these protocols these days. Because I think each protocol has their own mission and it's trying to inform us. For example, CSD is not trying to compete with any stablecoin out there. Our main purpose is to
actually a tool for prosciences because we go in for a multi-chain future and having able to adopt one change or another can be really helpful. In general,
I think that CSD will help to expand the whole D5 ecosystem. And in that way, we will try to get the user to start with using D5 projects within the corned ecosystem first. And then
Of course, after that, we'll look to reach out with other default protocols. But yeah, that's what we think for CUSD and what we think that in the future we'll bring. But yeah, I think that with all the step-of-course here today, we'll look to hear other thoughts as well.
I guess that's an open invitation. Maybe K1, there's anything you want to share from? If you're most out obviously used in a very, like, slightly different position, and warm-up, but you're seeing a lot of this growth and innovation. Yes, I might actually agree with Levi Day, if I think there's going to be a lot more stable coins coming out just because
It's actually something that people actually need to exit position or to have a relatively more stable defy experience. But personally, you can call me a dreamer, I actually believe in, still believe in Elgro stable coins, but I think given the legal perspective right
now with US and Canada are pretty much only allowing a potential future license to overlap or allies or stabilize stable points. I think that's going to be the landscape for now in terms of the new stable points. But from a one-back perspective,
of course, I think, as we have more stable coins on a one-bat or other AMMs, we'll just have to become more capital efficient to allow the liquidity to flow better, which actually ties into our launch of this stable, huge stable coin pool. I think we were making a history here.
pulling together a lot of these amazing stablecoin protocols together into one poll to make it more capital efficient with the liquidity that they have. So I think as we have more stables, we will have better AMMs for stables. So I think definitely,
playing the long game, but if you still think, you know, still pushing for the algo stablecoin and I totally see the merits behind it. But excited to learn more about that, that kind of, you know, how, more about is making history and like really pushing the envelope by bringing all these stablecoins together. So,
I know this is something called the stable guild that you've built. Can you tell us more like what's the thinking behind this and the partnership? Yes, so stable guild essentially consists of our partners here today. We have FRAX overnight, we have Kine-98, we have our very good friend, Hey.
I hope I didn't miss anyone. And then obviously this is made possible because of the innovative algorithm that Juan back came up with or our founder Alex and our team of very dedicated developers. We have this unique way of providing liquidity where user can provide single token liquidities
and set of impairs. We have this very simple yet elegant Elgro which allows having more than 3, 4 or 5 or actually it's because of the design it's limitless. You can have as much of different stables in a pool as you want without sacrificing
capital efficiencies or gas fees. A lot of our competitors, not a name who, but it's actually if they have beyond three tokens in one pool, the math gets too complicated to not feasible to do the calculation on chain, which is why they have three token pools and
then they have to do that LP into another new pools, so like LP inside LP pools kind of style. Whereas the stablegirl, it's directly token LP's pool together in one pool. So that's why I think we're making a little history here. Amazing. Thank you.
Max and Keen, as you think about increasing liquidity and making your products more accessible for growing DeFi audience, what does this pool, what does this stable guild represent as you double down on being a return?
Yeah, I think this is amazing. I believe one, but it's fantastic technology and it enables us to do things which have not been possible without them. Specifically, this ability to have multiple
stable coins within the same pool. This is incredibly, incredibly capital efficient. So not only it enables kind of trading with very low slippage, but it allows us to get together in a big group, optimize the trading, so optimize the slippage for all of us at the same time.
while essentially incentivizing our own liquidity. I want to stress this, we cooperate together with the same market, we get liquidity. At the same time, we incentivize our own stablecoins.
to build stability with the VWBAT. Whenever we launch something like UZC, UZD+ or UZDT, UZD+ type of pool, every time we are paying for promoting UZDC, every time we are paying for promoting UZDT, free of charge, we provide incentives for those guys and they don't
don't need to promote themselves. It's really kind of double payment essentially. Every time we do this, with this pool, we are able really to double down on the decentralized stablecoins only. We are able to cooperate, but at the same time, put in our own environment.
this is just fantastic technology and this is like really super power for one bad thanks for sharing maximum. I mean anything you want to add from your side especially in terms of like what is the what are you expecting in terms of outcomes from from the
sort of stable guild? Yeah, I think kind of agree with everyone's, you know, trimming there and just wanted to highlight on the fact that, you know, we created this in order to capitalize, you know, spread out even in terms of education if you may, that, you know, telling people
about stablecoins, how they can use stablecoins in general, in define. And yeah, we basically trying to create this as a way of collaboration. And yeah, it's going to be really great to see the outcome of this as people are getting more used to
stablecoins, especially on your BAB chain, that's where we're doing with one part here. And of course, we will have to see more of the, you know, just general up liquidity coming in in a way that in a way that, you know, all these
projects having a lot of like, you know, a new initiative campaigns and even like, you know, more products coming out and utilizing their stablecoins. So, yeah, so those are the things that I think would really, really excited to see after this.
K1, obviously everything here, it's in the interest of the users in the community and I'm sure there are a few people listening who are quite curious to know, like ultimately how the users benefit from the pool. First of all, if you're swapping, that pool has an actual pool right now.
I always like to use the example of doing this easy to happen, one that because of our growth and because of that simple, yeah, and math that we came up with, we were able to do like, eight times of our volume writing them under the A5 giants like curve for insuable
So that was without this kind of efficiency of the stable bill that we were putting together here. So you can expect much better price even if you're going to get a lot of money.
Even when you're trading large volume, you can expect a lot of our trades to be picked up by our aggregators. This matter if you're directly using one in Swap or sorry one in the aggregator or directly with Wombat. A lot of these are going to be routed through Wombat. That's from user swap perspective.
the liquidity perspective uses of course as Max correctly pointed out as well. You don't have, you're not forced to convert half of your token to any other token in order to provide liquidity. You can only provide or trust the token that you hold not be exposed to additional risk.
that you might not believe in, say you're only a whole fracks, you can just deposit fracks and be earning those yields already. So I think this is when from SwapSight and I liquidity provider side as well. Thanks for sharing. Obviously, Lorana, I know who you've been working
for it closely with one bad for some time now. So keen to give your thoughts ultimately like what does this mean for Hideo and Hay? Yeah sure, thank you. So for Hideo's side and he with the joining force with all the major partners of different strengths
and also with WONB, we want to bring more attention from the communities to the decentralized stablecoins and also to want communities to get to know us and know that all the decentralized stablecoins, we are not company-tutors, we are actually
are partners. So that's a different that we can make from other centralized stablecoins because we can join for us to make a bigger cake and a bigger market share for decentralized stablecoins altogether. And we actually are more active and more community oriented. So
together we want to build something that is interesting and have really good and juicy opportunities for all of the communities and BNB chair and for the decentralized people come communities. And also I think we are making some history with
all the partners together because this poor engineer should be the biggest decentralized stable-concours among all the chains and even bigger than the ones on curve. So yeah, I think it's really a good opportunity and it takes
for us for all the decentralized book on some VMB tier. Yeah. That's good. I like that vision. I think it's great. Just before we open up to questions from the audience, just want to get some kind of basically final kind of thoughts on
For all of you on what the big plans are for your protocols on being MewChain. Obviously, a lot of you have your unstable coin, but there are other kind of bigger strategies that play as well. I want to start with DeFi Dave, given practice entry to being MewChain is more recent.
to get your thoughts on, you know, even from the flywheel side, like what you see is like the big opportunity or the big plans for for Frags on on B&B Train as a as based now that they are kind of doubling down on on B&B Train and I'm just going multi-chain. Yeah well Frags has actually been on B&B Train since the start and B&B
chain was one of the first chains that Frax bridged to way back in February of 2021. So we've been around for over two years on BNB chain and it has really been a core part of our strategy. But most recently our efforts on BNB chain has been around Frax Epe.
we just approved for S-frax-seats, which is the yield bearing bar vault of the Frax-seats system to actually be on B&B chain. So B&B users can go and stake their Frax-seats on B&B chain in early yield. Also with our strategy with increasing the monetization
premium of a fraxie, which is really key for those unfamiliar monetary premium is basically this term that says people want to hold your stablecoin for the sake of holding your stablecoin. And so we really see BNBS essential strategy to that and we're partnering with protocols, you know, different ones on BNV chain
that's one that they know others to increase a fraxi premium whether it's through farming whether it's through other incentives and we really see BVChain as like a big part of fraxes strategy in fraxi strategy. Thanks if I'd have yeah and you're right I mean I think I was talking about
the end share I was talking more about the LSD, FraxE, the S FraxE side of things which has been like a big expansion out there. Thanks for sharing. Min, keen to get your thoughts on some of the future plans for C98 and just sorry for CWSE and Co98 in general.
Yeah, absolutely. We do kind of proud to have quite an extensive branch of products. As I said before, we're trying to build ecosystem. And of course, B&B chain has been like a core part of this as well. In fact, with Coin in Wallet,
We support over 70 plus blockchains, but BB chain is the chain that we have most user on. So that says something, right? And of course we do have a plan to with other D5 products that we're building. BB chain is always one of the first ones that we support.
We even have like a Dex build sole for BB chain which is the barion. So if you don't know about that, just go check it out. And yeah, for the future, we will look to increase our liquidity of CUSD on BB chain as a stablecoin there, but also with other
few products, we would love to work with BB Chain team to play BB Chain as one of the ways to adopt and have our products to be welcomed more with the users and community there. For example, we'll be launching a token launchpad very soon.
And actually, we plan to support BB Chain as one of the first chains that on that launch pad. And yeah, it's going to be great to kick up the initiative with the BB Chain team. And we would love to see all the users' community of BB Chain team with our future products.
Thanks, man. Maxim overnight. I know there's some plans. I don't know where you can't travel the community, but any bread crumbs on who people should expect from overnight and the near future on being betrayed. Yeah, well, first of all, as I said, core of anybody.
position is the yield. So, and we are always on the lookout for new strategies. I think there's a big new chapter which just started on being the chain which is concentrated liquidity. UNISWOP has launched on being the, you have,
takes up, I should launch concentrated liquidity. Tenor has launched one of the best. Actually the world's first V33 concentrated liquidity. So there's a lot of interesting stuff happening on the concentrated liquidity side, but concentrated liquidity is really for professionals to be
able to extract yield from it, that's a neutral yield which we specialize in. It actually takes a lot of skill and effort to do that. So we are about to launch a lot of even more profitable delta neutral strategies based on concentrated liquidity, which should result in use de-plus and use de-plus.
plus on the BNB chain, having much more attractive sustainable, real yield, you know, sustainably double digit type of yield, which we look to reuse for, you know, promoting on one part and another pulse, which we maintain. So that's the important part.
One is keep satskiness when token, when overnight finally issues the token, the OVN token. I hope it's happening this year. I hope it might be happening on B&B, given our partnership and core relationship. We are doing everything we can.
we can actually invest into the B&B chain and make it our central hub for the liquidity. It's very, very important chain for us. I would even say our number one target market given that we excluding main net, B&B is our number one market. So if at some point in time we
decide to issue the token, B&B chain is very close to our heart and probably number one candidate for us to do so. But that's not determined yet and that's not something I can talk about. But yeah, thank you for the question. - Oh good and thank you for sharing what you can and obviously exciting that you are thinking about, irrespective of what happens, thinking about
B&B chain as a core ecosystem for overnight's future growth plans. Lastly, before we open up, so Lorena, anything you want to share on your side, I know there's the Zerpisa Auren right now, which is obviously very attractive for many.
Anything else you want to share on future plans? Yeah, sure, definitely. Thank you, my one. So basically for Hino for Hian and her first of all, we are building and adding more collectual, collectual options for our users. So maybe in the future besides BSD and BNB, we will also have other collectual
options and also other SD options as well. Meanwhile, we are also building some question bridge to have more users from other ecosystems to have access to border hay and the main hay, but we will still focus on BNB chain at the moment. Meanwhile, we will also adjust our
meaning that they are dynamically to meet the different market conditions. We will also build to create some more complex ecosystem and more utilities as well. For example, make a doubt that the entire high-speed houses are also available. We will do something similar, for example, to
and some non-dem platform, some also to empower hay for some mutiny snack payment for pushes on a tier or pushing other web to goods. And that's about the next. We will have our governance talk
We can also plan TGE in our roadmap as well, maybe targeting the end of this year. So, you know, to make our protocol, totally aๅˆฐ guidelines protocol and to have our communities work
for the major decisions. So I think this is something different, we're interesting for our users and communities in the future. Thanks, Lorina. Lastly, obviously, what brings all these several coins together here today, of course, one bat. K1, any exciting plans that you can share with the community today?
We actually have a lot of launches in our role map. I think I'll see something relevant. Shout out to anyone listening right now if you're building stablecoin or any of this stablecoin protocol if you're listening in. If you want to join the stablegill and become part of the very capital efficient
pool, do DMS, welcome to X4, we're happy to make this scale bigger and bigger and more and more capital efficient. I think that will be our focus to grow this stable guild, to add more reputable, reliable, stable coins in so that we can all be more capital efficient to
other. And then other WOMAP, it's like we might be launching our V2 very soon, which is going to cover volatile acid as well. So, but the details are I can't really say much yet, but we're doing rounds of audit right now. So it's launch going to be coming fairly soon, I say. But then yes,
BNB and expanding so that the stable guilt is going to be our focus. Thanks, okay. And for sure, I think people will be keeping a close eye on that upgrade in the near future. Brennan, so I see there's some requests and a quite a few comments as well. We'll take
just a few short questions before we close. This is a reminder, you know, questions do end with a question mark and please don't use this as an opportunity to shill your projects. They're dedicated venues to do that. So without further ado, let's, I think we
have one person here. Yeah, with a few requests. So I think if you think it's sad, who has requested, so I will need the host to let them in just for one question. Actually, I can do it myself. Okay.
Sad will start with you and then we'll move to Joshua for the second question.
Hi, do you want to go first?
Oh, good job, Josh. Do you want to ask your question? Yeah, I was wondering the panel. I was wondering.
Uh, can you hear me?
Thank you. Thank you. Now how would a person that's brand new and this get into a guild or connect with others to help build a stable phone?
I think I can answer that. If you're building your own stablecoin, you can reach out to a one-bed directly. You can DM us on Twitter or enter our discord. But if you're just providing liquidity, you can go to a one-bed dot exchange. The guild is actually
already lived already, you can add liquidity to pools or live as well or if you want to help all the community get the stable-go-more emission, you can get some warm and for the stable-go-pool as well. So that's a few different ways that you can
get involved. Thanks, Kaya. Great to see that people are looking to build on the space. Any other questions? I know there are a lot of comments, but most not so many questions here. I'm free to request and we can
and fight you.
going once
going twice. Yeah, I think there are normal questions this time around. I think in that case, we will draw to a close, but maybe before we close, given the launch of the new stable guild, the K, they probably will give you any kind of funnel.
opportunity to share any updates or any kind of takeaways for the community before we draw to a close. So I have to say the bribes are very juicy for the stable guild right now if you go to Exchange. If you just purely want to earn some bribes or rewards, do get some
I'm talking and then vote for the guilt. The vote will be very meaningful determined emission rate. How much the LPs will be getting next week. But then meanwhile, while you vote, you also can earn the bribes from our partners here, from overnight, from Haleo, from K98, from FRAX.
So do go and bribe for a year of paper pool. Fantastic. Max, anything you want to add from overnight? I guess you're off mute. Yeah, we are running in golf campaign, right?
our friends at Wombat and hey have put something very nice together with our support. Maybe you know it's worth announcing that there is an opportunity to meet some olds and get some some some NFTs dedicated to the to the guild and given that we're making history maybe those
And if tea at some point in time will become a real rarity. Oh, those will become very weird and very expensive. I'm gonna do that for only two. This is a history of the stable guild that's gonna become very big. So do all the tasks on the
campaign, which is live on on Twitter, on one best Twitter, which is one bad exchange. There's just a few tasks you got to do and then after that you can claim your free NFT, which is a token of history. That's going to be forever there representing the birth of this guilt. Yeah, will they be
I think Max from overnight is going to buy all of them. So it's going to be very fun. OK guys, this is not an official investment device. I have to say that for every person. Oh, did that thing add a note?
Thank you all so much for joining today's discussion and of course a very very big thank you to everyone who joined from the panel from Flywheel/Frax, one bat here the over nights and our friends at Konrad. Oh loving the
- That's a damn effect. I haven't had that one before. (laughing) - Brilliant. Thanks, Lorena. Thank you all. Stay tuned. Do follow every all the accounts that I'll hear from the panel. There's a lot of juicy insights and just great thought leadership that's coming out all the time. So do stay updated with everyone.
Thanks everyone and have a great evening or a great day depending on your timezone. Good bye. Thanks everyone. Thanks everyone. Good bye.

FAQ on A New Frontier for Stable Coins ๐Ÿช™๐Ÿ‘€ | Twitter Space Recording

Who are the participants in the panel discussion on stablecoins?
The participants in the panel discussion on stablecoins include representatives from Frax, Coin 98, Labatic Change, Overnight, and Helio Protocol.
What is Frax, and what is its role in the stablecoin ecosystem?
Frax is a stablecoin protocol that is involved in media outreach, promotion, and education. The protocol positions itself as embodying the concept of stablecoin maximum and believes that on a long enough timeline, all DeFi protocols will become stablecoins or have a stablecoin essential to its protocol.
What is the three-point structure of the stablecoin ecosystem as proposed by Frax?
The three-point system proposed by Frax involves a stablecoin, a risk-free rate, and a swap facility. The most successful stablecoins will converge on this universal structure at scale.
What is Coin 98, and what is its focus?
Coin 98 is building a whole ecosystem, including the Connet Wallet super app, which has over six million users. Its stablecoin, the Korean Dollar or CSD, focuses on being a cross-chain unit that fulfills the demand of cross-chain trading in DeFi.
What is Labatic Change, and what is its focus?
Labatic Change is a stablecoin swap that is very capital efficient and has recently integrated with some new aggregators. Its focus is on being a leading decentralized exchange for stablecoins.
What is Overnight, and what is its stablecoin product?
Overnight is a nest management protocol behind stablecoins USD+ and USDT+. These stablecoins are characterized by yield-generating strategies โ€“ users buy USD+, put it in their wallet, and it grows with rebase and yields. Overnight stablecoins are used in decentralized exchanges.
What is Helio Protocol, and what is its focus?
Helio is an open-source liquidity protocol for Binance Smart Chain and the only ongoing decentralized stablecoin. Its stablecoin is called Helio Stablecoin (HS), which is based on proof-of-stake rewards and asset pegging. Helio's aim is to become a leading decentralized stablecoin in the BNB chain ecosystem.
What is Stablecoin Maximum, and how does it relate to the stablecoin ecosystem?
Stablecoin Maximum is a concept proposed by Frax, which believes that all DeFi protocols will become stablecoins or have a stablecoin essential to its protocol on a long enough timeline. The most successful stablecoins at scale will converge on a three-point system involving a stablecoin, a risk-free rate, and a swap facility.
What is the role of a swap facility in the stablecoin ecosystem as proposed by Frax?
The swap facility is a part of the three-point system proposed by Frax and enables the exchange of stablecoins from one type to another, such as from sUSD into stablecoins or from an ETH-peg stablecoin into regular ETH.
What is the potential impact of stablecoin maximum on the liquidity of the stablecoin ecosystem?
Stablecoin Maximum, as proposed by Frax, may lead to fragmentation of liquidity as more and more protocols adopt the same three-point system and create their own stablecoins, which could impact the dominance of existing stablecoins like USDT.