Major event: The US 'GENIUS Act' passed in the Senate, ushering in the 'Age of Exploration' for the stablecoin industry On May 20, the US stablecoin legislation 'GENIUS Act' was passed in the Senate vote. It still needs the House vote and the President's signature to officially take effect. It's only a matter of time before it is formally passed. 1/ In the long term The act brings regulatory clarity and compliance, benefiting the entire crypto industry; Traditional financial institutions and giants may enter the field, and compliant USD stablecoins will further intensify; The USD will continue to achieve global expansion on-chain (currently, stablecoins only account for 1.1% of the USD supply). 2/ For @levelusd, this is a major positive. Firstly, unlike other yield-bearing stablecoins, $lvlUSD can only be minted through USDC or USDT, eliminating regulatory concerns (the GENIUS Act requires stablecoins to have mandatory 1:1 full asset collateral). Secondly, Level, as the 'yield nesting layer' of stablecoins, will not compete with future compliant USD stablecoins but can leverage their momentum for growth. Currently, Level TVL is $180 million, and compared to Ethena, there is at least 30 times growth potential. The official team has been working hard on integration, such as the recently launched Steakhouse USDC vault, which is technically supported by Morpho and aims to strengthen the Level ecosystem. Through this vault, users can: Earn USDC lending yields Enjoy 5x Level XP acceleration rewards Participation is recommended, as it's been emphasized multiple times. The Age of Exploration for stablecoins is about to arrive, and we are both witnesses and participants.