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first_img Polkadot's new strategy was approved with 97% of the votes, focusing on the product platform and dotUSD

On November 11, the Polkadot community, through its decentralized governance system, supported a new strategy proposed by the Polkadot Community Foundation (PCF) with 97% of the votes. This strategy calls for focusing energy and resources on the upcoming Polkadot product platform, with a core direction of directly acquiring users. The product platform is positioned as an application layer that prioritizes user privacy and data rights, anchored by dotStables, with the first asset being dotUSD, designed to accumulate value for DOT.According to the content confirmed by DOTDAO authorization, the new strategy focuses on enabling users to directly encounter products on the product platform. Products on the platform should closely resemble the application experiences users are already familiar with, adopting a free, simple username and mobile-first approach, while allowing users to decide the extent of data sharing. PCF plans to provide the first mobile-centric solution through the Polkadot App, which will support private messaging and digital cash payments. dotStables starts with dotUSD, which tracks the US dollar and is supported by DOT; the Polkadot Technical Fellowship will oversee dotUSD and other dotStables, in conjunction with independent audits and risk management.The new strategy also specifies the allocation of shared funds and resources, advocating a shift from general marketing services to incentive activities directly linked to measurable user engagement, ensuring that spending serves the product growth authorized by DOTDAO. Products on the product platform are designed to attract users, and user activities will create demand for the stable value asset dotStables supported by DOT. According to the authorization, the design of dotStables should ultimately convert this demand into demand for DOT.

first_img Data: U.S. Treasury yields rise, traders bet on a Federal Reserve rate hike in December

U.S. Treasury yields rose on Friday as traders increased bets on a Federal Reserve rate hike in December. The 10-year Treasury yield, a key benchmark for mortgages, auto loans, and credit card debt, rose 2 basis points to 5.1271%. The 30-year Treasury yield, which is more sensitive to geopolitical risks, increased 3 basis points to 5.4602%. The 2-year Treasury yield, which is typically more sensitive to the Fed's short-term rate decisions, fell 1 basis point to 4.8525%. One basis point equals 0.01%, and yields move inversely to bond prices.Earlier, during Thursday's trading session, the 10-year Treasury yield rose more than 13 basis points and broke above 5%, while the 2-year Treasury yield increased by more than 15 basis points. According to the CME Group FedWatch tool, traders are currently pricing in a 100% probability of a rate hike at the Federal Reserve's meeting on December 9, with a nearly 87% chance of a 25 basis point increase and about a 13% chance of a 50 basis point increase. Energy inflation remains a concern, with oil prices expected to record a second consecutive week of decline, and the likelihood of renewed U.S. action against Iran decreasing. Oil prices fluctuated in early trading on Friday, with December West Texas Intermediate crude futures falling 0.1% to $88.63 per barrel, while Brent crude rose 0.3% to $96.11 per barrel. The October Producer Price Index will be released later on Friday, with the market expecting a month-over-month increase of 0.4%, down from 1.3% in September.
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