"The direct motivation for Tether to combine Plasma and Stable is to reclaim the USDT transaction fees, payment service fees, and other DeFi ecosystem revenue rights that have been controlled by Ethereum and Tron for many years." It can be understood that Tether is an "external enterprise" that hopes to withdraw from Ethereum after successful investment, build its own ecosystem, create a moat, and establish its own empire. Therefore, @ethereum @VitalikButerin @fundstrat, the vision of a large financial ecosystem on Ethereum needs to support decentralized stablecoins like $fxUSD @protocol_fx that are rooted on the chain (so-called local enterprises). 100% collateralized, with collateral being only (stETH, wBTC), and all collateral is on the Ethereum mainnet. Our Sun Ge @justinsuntron is laying out @usddio_cn on TRON. (Sun Ge's vision has always been impressive) In this round, many people complain about the vacuum of innovation on the Ethereum chain. When foreign capital (USDT,...
I believe many people feel regret for missing out on @PlasmaFDN, and have expectations for Tether's other stablecoin chain @Stable. Of course, there is also confusion about why @Tether_to is pursuing a dual strategy of Plasma + Stable? Will Stable issue a token? What exactly does Tether, the king of stablecoins, intend to do? Let's discuss my understanding: In simple terms: Tether's "dual sword strategy" with Plasma and Stable is actually aimed at reclaiming the "market dividends" that have been benefiting Ethereum and Tron for years, achieving a significant leap from being a stablecoin issuer to a global payment infrastructure. 1) First, let's talk about reclaiming the cake. Currently, USDT has a market cap of $170 billion, with an annual trading volume that even exceeds the total of PayPal and Visa. However, Tether can only earn 3-4% in government bond interest. Although the annual profit is around $13 billion, it pales in comparison to the actual value it creates. How do we...
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