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$MYX | @MYX_Finance
$SKY | @SkyEcosystem
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CM
After logging into Binance with $USDe, if you can still take in Hyperliquid's USDH, then Ethena has fulfilled the dream of on-chain stablecoin since its inception.
The proposed solution balances compliance, innovation, and revenue, which I personally think is the most suitable. Of course, Sky's proposal is also quite sincere, and both can provide good support in terms of resources and revenue capabilities. Ethena's competitiveness lies in its ability to offer some innovation and transformation:
For example, the yield-bearing USDH margin fully utilizes its own track advantages, bringing this structural yield into the Hyper system. Prime Brokerage achieves diversified margins, allowing users to use a variety of assets as collateral for trading, such as BTC, HYPE, USDe, rather than being limited to USDC. This somewhat addresses Hyperliquid's current efficiency issues.
From the given conditions, I think both Ethena and Sky are quite generous, and both have sufficient revenue capabilities, providing high returns for HYPE. If I had to choose, I would pick between these two.
Another strong point for Ethena is its deeper collaboration with traditional institutions, such as BlackRock, Anchorage Digital Bank, and Securitize. This will facilitate the opening of the RWA market or stock tokenization in the future, allowing for more stories to be told in the long run. In contrast, Sky, Frax, and others lack the "institutional muscle" in this regard.
James Evans
0/ The new paxos $USDH proposal is strong, props to the team for incorporating feedback. Here's my current pov: both the paxos and ethena proposals make $USDH a wrapper around existing products $PYUSD and $USDTB, respectively, and that's a messy set up.
James Evans
0/ Two new contenders entered the arena that I want to talk about: Ethena and Sky.
About Sky (SKY)
SKY is the governance token of the Sky Ecosystem and the technical and functional evolution of MKR.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 10K new posts about Sky, driven by 5.5K contributors, and total online engagement reached 219M social interactions. The sentiment score for Sky currently stands at 75%. Compared to all cryptocurrencies, post volume for Sky currently ranks at --. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Sky.
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Posts
9,984
Contributors
5,497
Interactions
219,102,428
Sentiment
75%
Volume rank
--
X
Posts
1,969
Interactions
32,588,903
Sentiment
65%
Sky FAQ
What is cryptocurrency?
Cryptocurrencies, such as SKY, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as SKY have been created as well.
Can I buy SKY on OKX?
No, currently SKY is unavailable on OKX. To stay updated on when SKY becomes available, sign up for notifications or follow us on social media. We’ll announce new cryptocurrency additions as soon as they’re listed.
Why does the price of SKY fluctuate?
The price of SKY fluctuates due to the global supply and demand dynamics typical of cryptocurrencies. Its short-term volatility can be attributed to significant shifts in these market forces.
Monitor crypto prices on an exchange
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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