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USD1 Summer
Recorded: June 4, 2025 Duration: 0:55:58Space Recording
Short Summary
The USD1 stablecoin ecosystem is rapidly expanding, with significant partnerships and integrations across various DeFi platforms, showcasing its potential for growth and yield opportunities. As projects like Nistadao, Venus, and Aster launch new products and services, USD1 is positioned to become a key player in the crypto space, attracting a growing community of users and investors.
Full Transcription
Music Thank you. Music All right, everyone's coming.
I think this is like the after party.
Is that right?
The USD one.
Right?
Doxy, you're here.
Can you hear me?
Yep.
Finally, I'm here.
Welcome, Chef Doxy.
Welcome, Lorena. Yeah, I'm here. Welcome, Chef Doxy. Welcome, Lorena.
Yeah, I'm back.
Welcome back. Or welcome for the first time. Sorry, I should say.
For me, you're in the house?
Yes. Can you hear that?
Yes. Perfect.
Okay. Perfect.
We have World Liberty Financial in the House, but I think that's just our official account.
We'll just give a moment for Brad and Zach.
I'm here.
GM, GM.
Good morning.
All right.
So, perfect.
That was a lot smoother this time.
So, thanks everyone for joining i think people i can see people trickling in for our dedicated i'm going to call this the after x base the after
party for usd1 summer we're incredibly excited about um a fast-growing usd1 stablecoin ecosystem
that's coming to bnb that's doing really well with really many ecosystem contributors,
many of whom are here on the panel today.
So we'll jump straight in.
Zach gave an introduction.
So Zach, I think we'll kick off from where we were and I'll hand over to the other contributors
to reintroduce themselves.
So I'll kick off with Lorena and if you can just
quick intro to yourself the protocol and how you're working with USD1.
Over to you Lorena, if you can just go.
Oh, okay. Yeah, thank you. Yeah, sorry. I was muted. Yeah, so GM, GM, this is Lorena. I'm the co-contributor of Nistadao.
So, regarding Nistadao, I'm sure that many BNB communities have already been very familiar with us.
So, we are the biggest ginseng trust table corner and also the request-taking project originally built on the BNB chain.
And recently we just launched a new product, which is Nistadao.
And also, a few weeks ago, we just reached our new milestone
with over 2 billion TWA air.
And also I'm very happy to be here
and especially because of the USD1
of the World Liberty Financial
because I believe that USD1
will bring a lot of the new energy
and also new utility and adoption
for the USD1 for the BNB chain.
And then in the meantime,
as NISTDAO, we also have deep integration with the USD1,
including we support USD1 as the collector
for maintaining our stablecoin NISTUSD,
as well as that USD1 can be used
for borrowing a lot of the assets on Eastern lending and also
it's also available for borrowing as well and in the meantime we also have a new USD1 stable
pool on the PancateSwap so yeah there are a lot of the you know different use case for USD1 and also
super nice and super happy to be here with all the Econ family here.
Thanks, Lorena.
Let's jump over to 4Meme.
Yeah, just a quick introduction to yourself, the protocol.
And then I think everything about integrations in USD1
we'll get to a little bit later.
Yep, sure.
So hi, everyone.
This is Cece, HedroBD from 4Meme.
You know, like, you guys do have been catching a lot of attention so far,
and we're excited to join this panel today with everyone to talk about USD1 summer.
So, a fun fact that the first cryptocurrency that I purchased
was actually the Dogecoin back in 2018, and now
here we are building Formim, so, you know, very happy to be here.
Formim is the leading
token launchpad on BNB chains.
And we assist at the
intersection of cultures and capital.
We make it easy for anyone
to create support and
participate the most viral meme calls
on BNB chain. Our role
in the broader DeFi landscape is
to act as the growth engine.
We have new community boonstrap liquidity assets to trading tools and plug into DeFi
from the day one.
And we also creating the outrun for cultural tokens to plug into the financial ecosystem.
And these are all done to further and enrich the meme narrative on BNB chains.
Very excited to be here.
And thank you so much for having us today.
Thank you so much.
And obviously, as you said,
Formium is helping build those trading narratives and obviously those trading narratives
have to be traded somewhere.
So I think Chef Doxy would love an intro to yourself
and of course PancakeSwap.
Probably needs no introduction, but you know.
Yeah.
Yeah, hi everyone know. Yeah. Yeah.
Hi everyone.
Chef Doxy.
Mainly what we do every day is to make sure that IBD, I think as well, is make sure that
all of our users are having a deep liquidity pool with lower slippage, a BAC's trading
experience.
We are focusing on delivering the most efficient, accessible leading DAX in
the DeFi in all the networks field. So our principle is pretty simple that we are the
liquidity layer. We are aiming to be the biggest liquidity hub to power the trading yield and
that users engage with the protocols on a daily basis. Whether it is through the LP models,
or permissionless market launches or you know, your strategy, which is hoping to help tokens to launch
from zero to one and by you know the kick mission and after co-marketing and you know the narrative
things we are helping you to grow from one to zero even faster. With over 1.8 billion and more than a million daily active users,
we provide low cost, high speed transactions,
positioning as well as the cornerstone of both retail and industrial DeFi participants.
So looking forward to the call today.
And fun facts about me,
the dog is actually coming from my favorite dog species is dachshund. Dachshund is
actually a sausage dog so ducks is the nickname of the sausage dog so that's why Chef Dachshund.
Awesome, awesome. Well glad to have you on the panel and obviously Pankyswap is an OG player in
the ecosystem and has been building alongside another OG protocol in the ecosystem,
Venus. So Brad, would love to give you a quick, yeah, would love for you to give a quick intro
to yourself and Venus. Sure thing. Great to be here. Good morning, everybody. My name is Brad
Harrison. Since 2021, I've been leading Venus. It's the only institutional grade lending protocol native to B&B chain.
And Venus is the only place in the United States
where you can deposit and farm USD one today.
It's also the most capital efficient lending protocol
in all of DeFi.
And that means that for every dollar of TVL,
Venus generates the highest revenue.
Last year that was over $150 million
in gross revenue. But that revenue doesn't get kept completely by the Venus Protocol Treasury.
It's the only lending protocol that takes that and has a mechanism for re-injecting it into a
loyalty program. It's called Venus Prime. It offers the most competitive rates in the market
due to Venus being so capital efficient. And of all the native BNB chain lending projects,
Venus is the only one in the top 10 of engineering productivity. So you can go see on token terminal
rank list by lending sector, for example, any given day, we're number one or number two. We're the
most audited in terms of smart contract security. And lastly, we're the only native BNB chain
lending project that is genuinely decentralized, where the smart contracts are in control by the
governance and not multi-sig. So it's great to be here and looking forward to jamming about USD1.
Awesome. Thanks, Brad, and welcome to the jam uh and last but not least
i believe we have leonard the ceo of asta here with us as well um would love for you to give
a quick intro i can't see you on the panel because i think my ex is glitching but we'll hand over to
you uh i think he i think they got uh disconnected the speaker I'm just adding them back now.
Okay. Okay, cool.
There we go.
Welcome back, Leonard.
If you'd like, if you can give a quick intro to yourself and Aster.
So my name is Leonard. I'm the CEO of Aster.
We're the new kidney block.
We are a prep tax.
For those who are not familiar with that term,
basically we are a prep decks for those who are not familiar with that term basically we a we are a decentralized different trading platform uh we support multi-chain but uh like we are the
leading one now in bsc uh we probably second overall uh like you guys might have heard of
hyperliquid uh so we are uh like a competitor to them but but unlike them, we support multi-chain, multi-collateral, and we are going to have our app brought up pretty soon.
So there's really no reason not to try this if you're interested in trading with leverage. We support leverage after 500 times for the adventurous ones, with probably up to today, the lowest fee in the market.
So on the other hand, for the less than adventurous, we also have a few earned products where you can earn return passively as the house, our ALP product product and also our new generating USDF we are
pretty G right now so like for all the point like we have a point system where
we can accumulate trading volume to get our airdrop in the future. Yeah, so that's pretty much us.
Come try it us out.
Awesome, thanks Leonard.
So we've got a full house,
protocols building across the entire stack
and from OGs to new kids on the block
and obviously all building around USD1.
So Zach, would love for you to share a little bit more
about what makes USD1 different.
How are you thinking of really building that differentiated ecosystem and utility on-chain?
Yeah, absolutely.
So, with USD1, our goal is to really fortify and cement the U.S. dollar status as the global reserve currency for the next 100 years.
We believe that a strong dollar is a strong
global economy. And we're doing this through secure, transparent infrastructure that maintains
dollar stability while enabling the efficiency and innovation of blockchain technology.
So to just give an actual example of how we're going about doing this I'm sure most people on this call saw the
two billion dollar investment that MGX did into Binance a couple weeks ago they
chose to transact in USD one now without them choosing to use USD one or some
other stable coin this transaction would have been carried out in foreign currency, most likely
the Durham. However, because they used USD1, that brought $2 billion worth of treasury bill
purchases right here on shore to the United States, which helps preserve our dollar as the
global reserve currency and keeps the entire global economy strong. And we're creating this stablecoin
with 100% backed with high quality liquid assets, such as US treasury bills and cash equivalents.
And all of our reserves are currently custodied by BitGo Trust Company. So they're in a bankruptcy
remote structure. This gives people the assurance and the confidence to know that
every single token that we mint of USD1 will always be backed by a US dollar equivalent.
In addition, in terms of growing the entire ecosystem and doing something that's a little
bit different from our competitors, we offer zero minting and redemption fees to eliminate the friction
between onboarding and off-ramping fiat currency and digital stablecoins, primarily USD1.
So we believe that charging people a mint or redemption fee to move their funds in or out
of crypto is a deterrent to getting more money into the space. If somebody
like a large financial institution or an investment fund wants to transact on chain,
but they're going to be penalized for doing so and then penalized again for when they want to
off-ramp those funds back into fiat, we believe that that's going to slow down the growth of our industry. So we've actually
removed all mint and redemption fees from USD1. Beyond that, we are incredibly transparent and
secure with quarterly third-party audits, like I'd mentioned in the introduction. And we're
leveraging Chainlink's proof of reserves to provide continuous real-time cryptographic
verification of reserve balances
directly on chain. So the reason this is important is it's one thing for us to take deposits and
purchase treasury bills and other cash equivalents and keep cash in the bank, but if all of our users
and community can't verify it or can't trust the reports and attestations because they aren't
conducted by a reputable third-party auditing firm, then what good is it? So we are working with
top four accounting firms in the world who are going to provide those audits to make sure that
every single person that wants to see an attestation and an audit report can trust and believe in it 100%. And combined with
Chainlink's proof of reserves, everybody knows at all times exactly what the reserves and the
backing of our token really is. Beyond that, we're the fastest growing stablecoin of all time
with over $2 billion in market capitalization right now, which has occurred in the last eight weeks or so
since we launched in April, just a few weeks ago.
And I really believe that with this BitGo as our custodian,
it provides that institutional grade security
with qualified custody and operational backbone for USD1,
along with all of the reserves being held
through BitGo's regulated custodian
solutions, that it creates a unique product that stands above the other options in the stablecoin
space. And beyond that, we're just a lot of fun to work with. We're the only stablecoin out there
that has a real community behind it that there's any excitement around. And we're not just a digital
dollar. We're an awesome digital dollar. And we're not just a digital dollar,
we're an awesome digital dollar. And we're here to revolutionize the entire space.
Love it. Thanks. Thanks, Zach, for sharing a lot about the vision and the mechanisms behind it,
but also the community. And I think a lot of us have already seen it. And to be honest,
everyone here on the panel has helped them build that community. So maybe kick off with Venus, given, as you mentioned,
you're touching Venus being kind of available in the United States,
as I understood just now.
We'd love your perspective on how you're integrating with USD1,
what that looks like for users, what they can actually do with it now.
Yeah, they can do basically the most fundamental use case in DeFi,
which is to lend and collateralize USD1.
And, you know, I think the one thing that resonated with me the most about what Zach's
said is that their vision extends out to make USD, make the US dollar, the world reserve
currency over the next 100 years. And if your time horizon is 100 years, the one thing you need to take away from this space
is Venus has the most abundant, secure, and capital efficient liquidity on BNB chain.
And it's been that way for five years. So it's important if you are USD1 holder and you want to
use a robust institutional grade stable coin like USD1 that you're putting your
liquidity on something that's battle tested and that has stood the test of time. And all that
translates to is that users can access the best terms for their loans when they collateralize it
over the long term too because of that abundant liquidity. So if you see some temporary incentive campaign,
you know, the rates are usually juicy for a moment, but over the long term, you cannot
overtake the king of liquidity because eventually incentive stop and ecosystems with a concentration
of liquidity ultimately have the most predictable and sustainable lending and borrowing rates.
So that's the goal for our integration with USD1 is to make it sustainable, predictable,
and secure over the long term.
Thanks, Brad.
And I think you're right in terms of building that sustainability around USD1 and kind of
liquidity depth, PancakeSplop obviously is a key part of that ecosystem.
So Chef Doxy, we'd love your take on kind of what the latest is in terms of USD1 trading
pairs, the growing kind of liquidity that I'm keen to get your thoughts.
Yep.
So we are actually pushing out the Pancake Store Infinity and we have already integrated
USD1 as the core trading pair also on v3 as well
most notably if you go to check USD1 to BNB pair we are seeing that 10 million in daily volume
with around 60 to 70 million for weekly volume shortly after the launch of the USD1.
shortly after the launch of the USD1.
To me, I think we don't think this isn't just another pair.
It's kind of like a foundational block
that we are embedding USD1 into key farming strategy,
incentivizing deep liquidity,
and seeing early signs of stickiness.
The integration is giving users a dollar,
you know, pack asset with real utility,
and it's only the beginning
As USD1 gets embedded across more farms vault and routing paths
Its role as a core liquidity primitive will only grow stronger on our platform and on the other hand that
I think that the most unique things about about USD1 is that
The energy that is bringing into the DeFi area, comparing to some existing giant stablecoin that USD1 is like what is that
is saying that awesome stablecoin and we are seeing some of the projects moving their PLL
over to USD1 way before the campaign is starting.
And we think that when I'm doing the daily research, you know, all of the pair, all the
forms, I think as well, I've seen some really good trend, you know, when projects is pairing
their own liquidity with USD one in order to creating a more better user experience for all of the traders.
Um, thank you as well.
So, you know, we are, we are really looking forward to what, what USD one is going to
bring to the, you know, to, to the DeFi field with, um, to kind of like revolutionize the
DeFi, you know, the stable coin landscape.
And I'm pretty looking forward to it.
Just to, just to jump in real quick
it sounded really good when you said the only awesome stable coin i don't know how many people
have ever referred to any other stable coin is awesome and it sounded good when you said it so
i think it's going to be the first of many times that people refer to USD1 is awesome. We have a lot of really exciting
things coming that's going to set us apart even more. So appreciate the support.
Oh yeah.
Trade market.
Likewise. I'm trying to not mention it about others, but still, you know, the energy is
different. Everyone can feel it.
Absolutely. Appreciate that.
And you're right. A lot of that energy is coming from new assets.
Well, obviously, you know, fast growing comes to the BNB ecosystem.
So, Cece, I know, obviously, as the leading launchpad at 4Meme, you're working with USD1.
Is that key primitive? Can you share more on the latest on the 4Meme side?
Yeah, sure. So, for Mausa, we think that what we like about USD1 is the adoption strategies,
as integrating into Launchpad, liquidity incentives, trading protocols, and DeFi's as well from the day one.
And for my Launchpad as well, USD1 is the key vendor of liquidity, bonding curve mechanics, and-launch token utility. This native integration gives
USD1 utility from the start and it actually
creates actual use cases value rather than
some as it is alongside other tokens.
With 4.MIM, we integrated
USD1 into our launch mechanism in a very meaningful way.
All newly launched products on board memes are now paired with 0.01% fee pool on
PancakeSwap version 3 to support the campaign that we are running with USD1.
When a product hits its market cap milestone,
the base tokens often use USD1,
it used to buy back and burn the meme coins so it create deflationary pressures
and long-term token value to the meme coin products and this actually unlocks two major things
for product itself it's a way to depend liquidity without over relying on you know like volatile
assets and for the users for the meme coinCOIN traders, MIMCOIN investor, it has stable low friction
anti point into the MIMCOIN ecosystem.
So at the end of the day, we see that USD1 acting as a stable coin anchor in a very otherwise
high volatile sectors and we think that it will give users more confidence while allowing
for creative substrainable tokenomics for the Minkly product itself.
So that's how we are integrating USD1 in our protocols and, you know,
to provide an environment, a play graph for users to unlock their investment
chances with forming.
awesome cc for me you're creating the culture on bnb but you're also
Awesome.
So for me, you're creating the culture on BNB,
creating the the right systems in place to for for mean coin investors as well so um awesome
awesome to hit but i'll with that i'll move to another kind of trading angle with asta
uh whom i know you you've been working closely with usd wanted to integrate it can you can you
share more on that, Leonard,
on what the new use cases now are for USD1 for traders on Aster
or for those who are new to Aster who might consider trading on it?
Sure.
So a simple version of it is that now you can use USD1
to trade with leverage on Aster directly up to like 500 times if you want to uh we are probably the few
uh perpetual decks right now that on chain supports usd1 uh again we also have the earned product
where you can deposit directly usd1 to become the house so if you don't want to actively trade uh
we have passive trading product like the grid trading and if you don't want to actively trade, we have passive trading product
like the grid trading. And if you want to earn a passive income by providing liquidity,
being the market maker, we have ALP product where you can actually create some you from it.
from it. I think just going back to the point where why we think, why we are so actively
collaborating with USD1 and what's the advantage of it, I think it's not just being, USD1 is not
just probably the most, the only US stable com with a real community, it's also probably the
most collaborative one.
You can see in today's space, like all these projects that is invited, that is integrated.
In my previous life, I've worked with stablecoin a lot.
I work in the crypto payment spaces.
And for compliance reasons, for whatever strategy reason,
other stablecoin providers
they sometimes try to keep a distance from a project.
But I definitely feel like very differently
with USD1 team where they actually care about
where the end user can use the stablecoin,
what the actual use case are.
And I think that's because of the roots that they have in the crypto space
instead of more of a traditional payment roots
that some of them,
well, naming them,
some of the more dominant stablecoin issuer out there.
So I really hope that one day day USD1 can be the best,
not the biggest, not just the most awesome,
not just the most collaborative,
but the biggest one out there.
And Esther wants to support that
and be part of that journey.
I think a lot of that resonates
with a many people on the panel. People have been
building in this space for a long time. But the USD1 kind of proactive culture to really build up
a lot of that utility from day one. So we'll get to the topic about how they become the biggest
shortly. But maybe just to cap off this part with Lorena at ListerDAO,
the product portfolio at Lister has been growing
and obviously so has the collaboration with OSD1.
So what's the latest there?
What can users do starting today?
I think we'll, if you have to unmute them.
Lorena? If you have to unmute them. Lorana?
Yeah, sure.
Thank you for the question.
So, yeah.
If you have to unmute them.
Oh, there was an...
One second.
Sorry, backlog.
Can you hear me?
Lorana?
Sorry, let me try.
Yeah, sure. Thank you for the question.
So, yeah.
I think there's some issue with the sound.
Yeah, you can hear me okay, right?
Yeah, no, it's fine. It was
kind of echoing and repeating
itself after a few seconds.
I heard that as well, so I wasn't sure.
That was on the runner's side, so we'll
give it a chance for the runner to jump back in.
Elon just wasn't
prepared for the massive volume
that USD1 brings. Someone had to
tell him to bump the servers today.
I think we're going to have to tweet at him.
It wasn't ready for the throughput.
All right.
All right.
So maybe before Lorena jumps back in, we'll – oh, Lorena's back.
Lorena, the internet's crashing. Oh, you're back. Okay, cool, cool. Yeah, yeah, I'm back. I'm back, sorry. Yeah, so I was saying that, yeah, so definitely
as Nitsadou and also like, because we are presenting as the super DeFi app of the BMT,
and also like that, and also Dr. I just mentioned that USD1 is the most awesome
and also most transparent, as well as the most community-driven stablecoin for this industry.
So definitely we want to, we are happy,
and also we want to be the liquidity hub of USD1.
And also I think NISTA and the USD1
just are the perfect match,
because first of all, NISTA DAO is the first DeFi project
that has an integration with USD1.
And also we have tailored multiple integration
and the use case for USD1.
The first one is that USD1 can be used as collateral to mint out stablecoin, NISUSD.
And the second is that, on NISD learning, USD1 can be both used as asset to borrow other blue-chip assets, such as BMB and BCCB.
the blue chip assets such as BNB and BCB.
And in the meantime, if users don't have a permission of USD1,
they can try to borrow USD1 with their other tokens such as USDT or BNB or BCB
and then use USD1 for liquidity farming.
So here, last but not least, we also have the NIST USD and the USD 1 pool on PancakeSwap with
very juicy yields.
So with all the three integrations, we actually provide a lot of the possibilities and also
use case for USD 1 holders or the new users that are curious to try out USD 1.
So no matter you are DeFi DJ or you are
maybe a relatively new beginner, you can find some perfect fit for you soon as
soon as you start out. So for example if you are looking for some low risk and
also relatively high and stable yet, so you can use if you host some
position of USD 1 you can use it as collection, understand lending, and borrow out BNB,
and then participate in Binance Launch Pool, or MegaDrop, and Holder's AirDrop,
by minting SNISed BNB with BNB, and simply putting SNISed BNB into the Binance Wallet.
And also, we have some strategy options for users who already have operation of USD1,
so they can do liquidity farming on
USD1 pool on pancake
and right now the pancake swap
and right now the yield stands
at around 8%
or 9% which is already
very interesting for stable
pairs and on top
of that as Cici
just mentioned there's the
liquidity drive trading Competition campaign that launched
by World of Liberty Financial, as well as FOMIM and also PanketSwap and WAI and Aston
are part of the supporters.
So there will also be incentives that will be allocated to the USD1 and New USD pool
as well from, thank you Thank you Zach from World of Liberty
of Financial. And the last but not least, if you are looking for a higher yield, but maybe
in the time, bring along with some rates.
Oh, sorry. Sorry. Sorry, there was a glitch.
No worries.
Elon heard us complaining, and he just wants to shut us up for a sec.
Sorry, you were saying last but not least, Lorena.
Yeah, yeah, yeah.
Last but not least, most DeFi, DGN, straight edge.
So, yeah, you can say right now, there are a lot of the interesting USD1 pairs already available on the
pancake swap like Dorsey just mentioned. So yeah, so if you don't hold USD1 but
you want to enjoy, maybe you want to try out the pairs and also to do
some liquid farming with this kind of push them feel free to borrow some USD1
soon and also
maybe yeah and also trying out
the liquid farming with
I just checked
just now I think the highest API
is like 200% with some
USD1 pairs so
yeah a lot of the
opportunities and also a lot of the options
like are available for users to choose.
Like I said, we hope to become the nuclear hub of the USD1.
So we offer a series of options for the users.
Either you hold USD1 or you don't have a patient of the USD1,
you can find something that is suitable for you soon this time.
Thanks, Lorena.
You're very right. I think the key takeaway for everyone who may be just
joining now, across Lista, Venus, Formim, and so on, there really is a growing set of utilities
and use cases for USD1, depending on your risk preference in terms of what you want to do, that growing set of use cases. So that use case is really growing.
So there really is something for everyone on chain and I think is going to be key for long-term adoption.
But I do want to switch gears because obviously a lot of stablecoin adoption has to do with a lot of these on-chain opportunities we've discussed.
But all of it is like bridging it with the real world.
So maybe, Zach, over to you in terms of how you're bridging that gap, perhaps,
between DeFi and TradFi and what the vision might look like there.
Yeah, definitely.
So basically our view is, you know, my partner Chase and I come from like a DeFi background.
We've been playing in the DeFi space since maybe basically 2017 when it first came around.
And the Whitcoffs and the Trumps come from a very traditional financial background.
And so when we sat down and started talking about our goals for world liberty financial and USD one as a whole, we realized that what both sides want was the exact same thing.
The only problem is there haven't been assets that have been able to cater to both the DeFi
DGens of the world and the on-chain borrowers of the world, as well as the TradFi institutions
and what they need to see in order to feel comfortable adopting an asset.
So that was really our goal when we set out when we
created USD1 was to create a stable coin that the DeFi community can get behind and get excited
about and get the maximum utility out of while traditional financial institutions can come on
chain and transact in a way that passes their compliance and their back office scrutiny that comes with, you know, national and even in a lot of ways, global financial institutions.
So, you know, we do this by providing access to DeFi underpinned with these traditional financial safeguards, things like audits by top four auditing firms in the world, but also at the same time taking advantage
of new technology like Chainlink's proof of reserves to give real-time liquidity backing
updates. So this conservative approach, but DeFi focus and DeFi utility focus, like you can hear
all of the amazing partnerships that we have from Venus to ListedDAO to 4Meme, etc.
Everybody at B&B Chain understands what you can do with a stablecoin and DeFi, right?
But by giving this same technology and the same abilities to traditional financial institutions, now it gives us the ability to bring a massive
amount of liquidity into the space and new users into the space that our space so desperately needs.
And that really comes with having that DeFi focus with a conservative approach that prioritizes
stability and security over complex yield generating mechanisms, right? And that allows our partners, like
everybody on this call, to manage the yield generation and allow users to decide for
themselves how they want to utilize stable coins to generate yield. So we designed the token USD1
specifically to meet the requirements of these large financial institutions and sovereign investors such as MGX,
who did the Binance investment, which was the largest investment ever made in crypto and stable coins,
which was a $2 billion transaction, but at the same time enable seamless cross-border transactions
without volatility and concerns of other digital assets like Bitcoin, Ethereum, etc.
While those are great assets and we love them and have been holders for over 10 years,
we also understand that a stablecoin is absolutely critical to having global transactions.
And by making sure that we focus on all of the DeFi utility
and keeping that inside the core of what we're building, it
really allows us to merge traditional finance with decentralized finance to the point where
I believe in three to five years, maybe five, ten years, there won't be DeFi and TradFi.
There will just be finance as a whole.
Zach, I appreciate that as your insight.
I think that's definitely what the industry is heading towards.
And I know, Brad, you were on stage at ConsenSys not too long ago talking about this.
Sorry, not to interrupt.
No, not to interrupt.
I just wanted to add one other thing that I forgot I failed to mention.
My mistake.
You know, if you look at the largest stable coins on the planet, right?
USDT, USDC, they have done phenomenal jobs.
In fact, we're very good friends with Paolo from Tether.
And I think what they have built has been absolutely incredible.
And our goal here isn't even to compete with USDT or USDC, because if you combine both of their market caps, you're still under what?
Well, you're just over about $200 billion, right?
Tether, let's just say it's about a little over $150 billion, and USDC is just over $60 billion.
If you compare that to all the fiat transactions that occur in the world, there are trillions of dollars being transacted every single day, whether it's through global trade, derivatives trading, securities trading, real estate.
that on chain, we believe there's going to be a world where USD1 breaks a trillion dollar
market cap in a very short amount of time because we're looking at use cases that are
more traditional than just DeFi itself, but still keeping DeFi as the core of our community.
Thank you, Zach.
Completely agree.
And I think that's what will enrich the entire ecosystem as we kind of cover more traditional parts of the real world economy.
And I think that's what I was alluding to earlier, Brad.
I think you maybe touched on this on stage at ConsenSys.
Keen to get your thoughts on the whole, you know, bridging the gap between TradFi, DeFi.
USD1 is doing that. And I think Venus is doing that as well.
Yeah, I mean, this is such an important theme to talk about because Wall Street liquidity is the prize.
Regardless of the delivery format or the technology, whatever paradigm we're entering, you want to capture Wall Street liquidity and that we have stablecoin issuers like USD1 matching the requirements. Bringing that institutional rigor is just a proof point
that it's happening now. So that's the same exact path we want to follow at Venus. We want to be
able to interact with the institutions, provide an infrastructure that meets the requirements,
is institutional grade, and has all of the
integration points needed so that you can take the Wall Street liquidity, you can prove it out,
and you can take it to all of the places where it's going to access network effects and really
have value for people around the world, whether it's people in Brazil that are storing their
assets right now under a mattress or people in anywhere around the world where,
you know, their economies are handicapped because they fast forwarded on the fiat timeline and they
have crippling hyperinflation. So this is about, you know, 24-7, zero downtime risk, zero
counterparty risk, giving it to institutions and spreading those network effects around the world. And I think USD1 is absolutely an important integration for us to make that reality.
Thanks, Brad.
The point about kind of driving greater inclusion to broader geographic markets,
I think it really hits the nail on the head.
I mean, in Brazil alone, I think 60% of the crypto market is just stablecoin volume,
and that continues to grow.
And I think we're seeing that across more and more markets.
With the time we have left,
and we have quite a few people on the panel,
I'll just, I want to give everyone a chance,
just to give some closing remarks and just maybe tell the whole community a little bit
about what USD1 Summit looks like on your protocol.
And if you have any other closing points you want to add
before we draw to a close.
So with that, I'll start with Cece from Fullmeme.
If you want to share a little bit more,
sorry, some closing remarks on Fullmeme from USD1 Summer.
Yeah, sure.
So I think USD1 Summer would be about deepening liquidity,
reducing fragmentations,
and making DeFi and BB Chain more
user-friendly, especially for the new users. So from outside, we see USD1 becoming one of the
default pairing for new tokens. And its trust minimized is being tied and being tested. And also
it's being backed by our live partners who are aligned here today, which makes it a safe and
strategic choice for both products and liquidity providers.
So I think that we see a potential powering even more, like token bonding curve and farming incentives to payment bills and MIME-2D5 purchase.
At FormMIM, we're basically building a bracket.
I think of USD1 as the gravity that pulls together cultural finance and sustainability.
So that's what defined needs to scale, especially for more retail onboarding.
And if you are building a MIMCOI, you shouldn't have to choose between cultural or utility.
We believe that you can have both.
So 4MIM is the go-to growth partners and now with USD1, also your liquidity partner too.
So launch with us, do launch with us,
and let's build the next 1 million MIM core together.
Awesome. Thank you, CC.
And I love that ambition.
Asta, Leonard, any final remarks?
Yep, yep. So from Esther point of view, I think we would love to see more and more pair that's based on USD1.
Right now, the option is quite limited. We are probably the only one that's offering some USD1 pair, but I would love to see more of that and more and more people
using USD1 as the collateral to trade on us to participate in our earning products.
Hopefully I think we can use USD1 as a vehicle to give back to the community,
to pass back that yield that the team just mentioned
so that we can help everybody to make more money
basically in the future.
Thanks Leonard.
Over to Lorena, USD1 Summit,
there's a lot that's cooking up on Lister. Final remarks?
Yeah, sure. Happy to share some of my two cents.
So yeah, I believe that USD1 definitely will become the main gateway from Trayfair and also in general with users or with to like Word because right now when
users when you use the fiat on the app or off the app they will directly no matter what fiat
they're using they will onboard with USDT or USDC but I believe that in six or 12 months or even this time, USD1 will replace them
for under the entry for the new users or for the web2 world will be USD1. And also this can benefit
BNB chain and also the overall BNB chain you call a lot because you can also have to bring more new users and bring mass adoption
of no time USD 1, but also all the crypto
and also the web industry.
And especially I'm quite bullish with USD 1,
especially with the recent Genius app updates.
So, and in terms of the USD,
I mean, the USD 1's integration with Nistat, so we are not only stopping at, you know, the integration with NISTAN Lending or the Disinterested Bokong or just NISTUSD1 or USD, and the NISTUSD and the USD1 pool, we are also, we are still keep building.
And also we are working out like more, you know, integration and interesting use case for USD1.
So yeah, so the first thing that we will come out
is some new utility for the NIST-USD and USD1 LP token.
So yeah, it can, so you can empower the NIST-USD,
USD1 LP and then in return
it can also bring deeper liquidity
for the NIST-USD and USD1 pair and the older BNB chain,
which can be also helpful for the older liquidity growth and TOR growth of the USD1 and also the least USD.
And in the meantime, it can also bring a lot more interesting yield opportunities for users
that hold and contribute the liquidity to the NEED
3D and the USD 1 stable pool. And last but not to the least, we are also working because we are
also like a biggest decentralized stablecoin on the BME chain. So it's like make a doubt
integrate relationship with USDT and USDC. So I believe that a lot of synergies between our stablecoin
needs USD and USD1.
So we are also working on to see, like, to figure out,
like, how can we leverage USD1's, you know,
USD1's adoption, USD1's transparency,
USD1's stability, as well as USD1's, you know,
influence, like, to help further increase the needs USD's, you know's pay and also stability as well.
So I think the adoption and also utility of the USD1 niche USD can go hand in hand
and eventually can bring the flyware and can scale up together
and bring the DeFi flyware and also the DeFi Summer back for the BNB chain.
Thanks. DeFi Summer is cooking.
I'll hand over to Chef who's part of that and then Brad before we close with Zach.
Thank you. Yeah, so just want to echo on CeCe is that I think that the purpose of having the campaign of BNB chain is having
a campaign with USD1 to give out I think a million dollars to give those whichever pool
is having the highest volume. I think by having this kind of campaign is about creating a narrative. The narrative must be created by the
community and community needs some drives to do these kind of things. And I really appreciate that
for the existence of the USD1 that we have such a great medium in the middle that users are able to change, switch all of the access to.
And to all of the builders out there, I hope that we are looking very looking forward
to whatever things that you guys want to create
on the narrative wise, on the pull wise,
you want to have any, we've seen a lot of very interesting
pair that pairing with USD1 lately,
especially with some of the series that you can observe from on-chain.
So I just want all of the builders to know that it's not about whether you are winning the prize or not,
it's about the culture and the community that we are going to shape for BNB chain right now with the stablecoin of USD1.
So we are so proud to be help build USD1 ecosystem
from day one.
So if you're a builder looking for a deep liquidity,
fast listing, or, you know, maybe kick incentive support,
just reach out.
We are ready to co-launch, co-incentivize,
and co-scale with you.
And if you are a user, get ready for USD1 somewhere,
because USD1 is going to be your go-to stable coin
across all of the trading, farming farming and landing on BNB chain
Let's go. Awesome. Thank you. Brad final points
Chef you just got me fired up
Yeah, I'm super pumped, too. That was awesome. And, you know, Zach earlier talked about cash equivalents being one of the reasons why USD1 is safe and reliable.
You know, cash equivalents and U.S. treasuries are the reason why we've been able to prove out the tech and scale the custody rails as an industry and, you know, support this regulatory comfort zone that's going to extend to equities and credit. It's going to, it's also jumpstarted demand. So risk-averse treasures can
earn yield on chain, you know, so we're zooming out a little bit and just saying that this is
seeding billions in stable liquidity that the next asset classes will be able to borrow against.
We've been talking for a long time about, the institutions are coming the institutions are coming they're here and you know that usd1 is on bnb chain is proof that it's
it's uh they've arrived on bnb chain as well so when you think of venus just think long-term
stable liquidity battle tested the most audit audited protocol and we intend to make it the home
of usd1 awesome thank you brad zach i'll hand over to you for uh final points from the wfi And we intend to make it the home of USD1. Awesome. Thank you, Brad.
Zach, I'll hand over to you for final points from the WF5 team.
Absolutely. So first off, thank you so much, Marwan, and everyone else on the call right here,
as well as everyone who uses BNB chain for showing so much love to USD1.
Our goal at USD1 is to show that same love back.
I think I'm just going to echo what everyone else has said,
which is it is going to be a hot summer.
USD1 has a lot of exciting announcements.
Obviously, we've announced the trading prizes and all of that.
So I invite all projects to jump on board, not only for the
opportunity to win prize money, but also because we have a lot of support from USD1 holders and
WLFI holders who really want to see USD1 become the primary stable coin on BNB chain as well as in DeFi in general.
And we intend to show a lot of support back.
We have some really exciting initiatives that we're going to continue to announce over the next few weeks.
And yeah, we have as of now, as of today, we have 85,000 new holders of USD1.
So for all projects,
whether you are an existing project or a new project that's looking to launch,
I really encourage you to adopt USD one because the community behind it is
strong. And we've seen that even with the build on token,
like the B token that launched it did over a billion dollars in trading volume
paired against USD1. And we're seeing that across all the projects that adopt USD1 is very strong
trading volume. So if liquidity and trading volume is something you're interested in,
I really encourage you to use USD1 as your trading pair. We'll support everything from the smallest all the
way up to the largest projects and make sure that you get the exposure that you deserve.
There are some really big, exciting projects that have either launched recently or are going to be
launching with USD1 as the trading pair. And the liquidity will get deeper. The volume will
continue to grow. And with everyone's support here, I think we're going to see a really, really great summer for USD1, for BNP chain, and for everyone who participates.
So I really appreciate everybody's time.
I appreciate everyone's projects who have supported us and continue to support us.
Big thank you to Marwan and the BNB chain and the whole community from Venus to
Listed Out to Four Meme, everybody in between.
Chef, you guys have been absolutely incredible.
And we're just going to continue to support and show the love that we've been
shown.
Thank you so much, Zach.
Summer's only starting and so is USD1 Summer. So thank you everyone
for joining the conversation, for tuning in from around the world. Stay tuned for updates,
a lot of exciting announcements, products, integrations, and a lot more coming over the
summer. So see you all very soon.
LFG.
Let's go.
All right, let's go.
Thanks, everybody.
