Let's break down the product logic of STBL. I believe this thing is seriously overvalued by the market👀 According to the latest data from Dune, the minting scale of STBL's stablecoin is only 449,700 units, with 24 holders. Although STBL is dressed as a stablecoin protocol, it is essentially a typical, ordinary CDP DeFi lending protocol. Compared to standard DeFi lending protocols, CDP DeFi lending protocols have advantages such as no need for a lending liquidity pool, risk isolation for each CDP instance, and generally 0 holding interest, but they also have disadvantages like high costs for stablecoin anchoring, low LTV, and vulnerability to oracle attacks. STBL basically adopts mature design solutions for core functional modules such as lending LTV algorithms, bad debt liquidation mechanisms, stablecoin liquidity, stablecoin anchoring mechanisms, and flash loans, with no innovation. The only innovation is using RWA assets as the sole asset class on the asset side. However,...
Show original
11.29K
0
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.