anchored

According to Jinshi reports, Federal Reserve Governor Waller stated that inflation expectations have been well anchored.

Ethena Labs recently proposed a new mechanism aimed at supporting orderly liquidity and stability in the market by repurchasing and burning USDe when secondary market prices are significantly below the pegged value.This proposal is a risk management response to the event where the USDe price briefly decoupled to $0.65 during extreme market volatility on Binance. Core mechanism repurchase conditions: activated only during "severe market dislocations," with an initial price threshold set at when the USDe price trades at $0.99 or lower. Funding source: repurchases will use available stablecoins (such as USDT) from the existing USDe reserves. Amount: it is proposed to utilize 1.2% of the total USDe reserve assets, which is approximately $95 million based on the current USDe supply.Operational method: repurchases will be executed by placing buy orders on the centralized exchange (CEX) order book, using an off-chain solution, without directly depositing reserve assets into the exchange. Immediate burn: the repurchased USDe will be immediately burned. Protocol benefits: the net impact of this mechanism will be: increased collateralization ratio: purchasing USDe below $1 can capture price discrepancies, increasing protocol reserves and thereby enhancing the collateralization ratio of USDe. Reduced supply: burning USDe will decrease its circulating supply. Price support: during market pressure, directly providing buy support in the secondary market to stabilize the USDe price.Addressing gas fees: Ethena can utilize captured price discrepancies to cover high gas fees, ensuring that arbitrage operations can still be conducted during network congestion, which was one of the reasons market makers were restricted on October 10. Background review: during the market volatility on October 10, although Ethena's core minting/redeeming functions operated normally and processed over $2 billion in instant redemptions within 24 hours, the lack of direct USDe minting/redeeming integration on Binance and traders encountering withdrawal issues on CEX led to a severe decoupling of the USDe/USDT spot price on Binance.This proposal aims to prevent the "cyclical loop of USDe liquidations" effect caused by similar events through proactive intervention in the secondary market, bringing net benefits to the protocol. Members of the risk committee have received this proposal and will provide recommendations in due course.

ChainCatcher news, according to Jinshi reports, the Federal Reserve's meeting minutes show that officials believe inflation expectations have been firmly anchored.

ChainCatcher news, according to Jinshi reports, Federal Reserve's Goolsbee stated that long-term inflation expectations are anchored, reflecting the market's confidence in the Federal Reserve.

ChainCatcher news, according to Caixin, David A. Katz, Vice President of Strategy and Public Policy for Asia-Pacific at Circle, pointed out at a forum event in Singapore that digital assets must first ensure network security, so that trading systems are not vulnerable to hacker attacks; secondly, digital assets should be backed by real, high-quality, and highly liquid assets on a one-to-one basis, and be custodied by appropriate institutions, for example, about 90% of the assets backing USDC are managed by BlackRock.Circle currently has over 900 employees, of which about 300 are lawyers and compliance personnel. At the same time, stablecoins and other digital assets also require government regulation to become part of the international financial system.

ChainCatcher news, the Hong Kong "Stablecoin Regulation" will officially take effect on August 1, 2025. Song Min, the director of the Central China Development Research Institute at Wuhan University, stated that the emergence of stablecoins is an inevitable result driven by technology, but technology cannot replace regulation. China should cherish the opportunity to establish a regulatory framework, adopting a path of "institutional precedence, scenario implementation, and phased advancement." Hong Kong's stablecoins will serve areas such as cross-border trade settlement and RWA asset tokenization, supporting the real economy. Hong Kong plays an irreplaceable strategic role in the internationalization of the renminbi, with the biggest breakthrough in cross-border trade settlement, necessitating the launch of more renminbi-denominated financial products. (Everyday Economic News)

ChainCatcher news, Usual stated on social media that at 5 PM Beijing time yesterday afternoon, the Usual protocol experienced a large-scale USD0 sell-off triggered by a whale trading in the secondary market. This event raised questions about USD0's ability to maintain its peg to 1 dollar. USD0 briefly dropped to 0.99 dollars, then returned to the 1 dollar peg within seconds, although there was an initial deviation of several basis points (bps) due to the ongoing sell-off, it fully restored its peg after a few hours.USD0 can always be redeemed at a 1:1 ratio for its underlying collateral, ensuring the solvency of the Usual protocol. Currently, all USD0 can be redeemed on a T+0 basis and is supported by highly liquid short-term money market instruments.The peg has been restored to normal. This incident was the first significant stress test of USD0's pegging ability, with the redemption volume exceeding the entire TVL (Total Value Locked) of GHO within a few hours, yet the protocol continued to operate as usual. We will continue to optimize processes and improve efficiency, while many exciting updates are on the way.

According to ChainCatcher news and the official announcement, Binance will launch the new euro stablecoin Anchored Coins EUR (AEUR) on December 4, 2023, at 18:00 (UTC+8), and open spot trading pairs. To celebrate the launch of AEUR, Binance will introduce two zero-fee promotions for AEUR trading pairs.AEUR Listing DetailsSpot trading pairs: AEUR/USDT, BTC/AEUR, ETH/AEUR, EUR/AEUR;EUR is the fiat currency code, not the digital currency code;AEUR deposit channel is now open;AEUR withdrawals are expected to open on December 5, 2023, at 18:00 (UTC+8);The listing fee for AEUR is 0 BNB.

ChainCatcher news, the Web3 trend platform XCart.io held its first offline salon meeting on April 1 at the Shanghai K11 Meta Street Market flagship store, showcasing its inaugural BTC shoes. The exhibition covers a total area of 411 square meters, featuring artworks that can be touched in real-time.The XCart host stated that attendees can experience new digital artworks on-site while having close communication with many community partners. In the future, XCart will launch more offline salon activities. (source link)

Chain Catcher News, at the 2022 WAIC Metaverse Sub-Forum held by Baidu today, Zhang Ping, an academician of the Chinese Academy of Engineering, stated that establishing an on-chain payment system anchored by the digital renminbi is key to achieving China's political security, economic security, cultural security, and cybersecurity. Our country should vigorously develop the concept of "permissioned web3.0" with Chinese characteristics.The People's Bank of China can issue the renminbi stablecoin CNYC on a self-developed blockchain, allowing the digital renminbi DCEP to circulate on-chain, supporting a self-controllable "permissioned web3.0" industry. (Source link)