Stableview

Polygon Payments Ecosystem @0xPolygon

@0xspicexr Good read!

@Eli5defi @HyperliquidX @Ethena_Eco Oh nice, zero yield margin is the silent cost of perps

➥ The Capital Efficiency Layer: Why HyENA Is the Next Step for Hyperliquid On-chain perpetuals reached CEX-level execution, led by @HyperliquidX’s non-custodial matching engine. But collateral economics stayed broken, with stablecoin margin sitting idle and earning 0%. Here’s how @hyenatrade changes how collateral works in perpetual markets 🧵 ——— ► What is HyENA? HyENA is a capital-efficiency layer built on Hyperliquid by @BasedOneX that makes yield-bearing collateral ( $USDe / @ethena ) the default for perpetual trading. It does not replace Hyperliquid. It builds on the existing execution layer and changes how collateral is used. The core problem HyENA is solving: ▸ Perps margin is still dominated by 0% yield stablecoins ▸ Traders absorb negative carry from funding and fees ▸ Idle collateral weakens capital efficiency and liquidity quality — ► HyENA Thesis: Collateral Should Work for You @binance and @Bybit_Official proved traders prefer yield-bearing collateral by integrating USDe and attracting large margin inflows. HyENA brings that model on-chain, treating capital efficiency as core infrastructure rather than a side feature. This directly changes the carry profile of perpetual trading: ▸ Legacy model USDC margin → 0% yield → funding is pure negative carry ▸ HyENA model USDe margin → yield + points → funding drag is reduced or neutralized When collateral earns, spreads tighten, liquidity deepens, and execution quality improves. — ► How HyENA Is Different From Other HIP-3 Markets HIP-3 made launching new perps easy, so most markets compete on asset volatility and attention. HyENA competes at the venue level by fixing how collateral is used. ▸ Economic engine Most HIP-3 markets monetize volatility. HyENA improves collateral utility to lower net trading costs. ▸ HLPe vault HLPe bundles USDe yield, market-making returns, liquidations, and fees into a single collateral layer managed by @upshift_fi infrastructure. ▸ Institutional utility USDe margin supports delta-neutral and cash-and-carry strategies, reducing negative carry and tightening spreads. In just one month, HyENA captured about 15% of HIP-3 traders, showing capital-efficient venues attract users faster than asset-driven markets. — ► HyENA Roadmap HyENA is rolling out through a guarded launch, prioritizing stability over speed. It starts with major perps paired against USDe, avoiding early exposure to volatile long-tail markets. ▸ Phase 1: Guarded launch Invite-only access with $BTC, $ETH, $SOL, and $HYPE against USDe. ▸ Phase 2: Market Expansion More markets and higher open interest caps as HLPe liquidity deepens. ▸ Phase 3: Long-term integration Hyperliquid-native and selected long-tail assets where capital efficiency improves execution. — ► Why This Matters Adoption moved first. HyENA accounts for ~7% of HIP-3 volume and remains below 10% today, while trader participation grew faster. That gap reflects capital repositioning before volume fully follows. The signal is commitment. About 500k HYPE is locked, over $13.5M at current prices, showing balance sheets adjusting to a new collateral model. As USDe margin improves, carry and reduces funding drag, volume typically follows on high-performance perps venues.

Stablecoin markets this week: > Visa saw crypto card spending jump 525% in 2025, rising from $14.6M to $91.3M in net spend. > Barclays invested in @ubyx_, supporting a new settlement layer for tokenized deposits and regulated stablecoins to move at par between institutions. > @OndoFinance Global Markets crossed $400M in TVL with cumulative on-chain trading volume exceeding $6.3B. > @coinbase hit a key milestone as active USDC borrowing through crypto-backed loans surpassed $1B. > @tether is reported to have invested $40–50M in Ledn at a $500M valuation, expanding further into bitcoin-backed lending.

Stablecoins preserve value. Yield is harder @Neutrl is a synthetic dollar that explores how stable assets can earn yield without taking directional market risk. It does this by tapping into market-neutral arbitrage that’s typically institutional-only: > OTC arbitrage: buying tokens at a discount and hedging exposure > Basis arbitrage: long spot, short perps to capture funding spreads > Liquidity-first design: liquid trades prioritized for redemptions > Risk controls: custody via OES, smart-contract vesting, on-chain reporting Today, Neutrl sits at $202M TVL with ~15% APY. Worth watching as arbitrage-backed stablecoin models evolve.

What happned in stabelcoins this week: > @Securitize will launch compliant onchain trading of natively tokenized public stocks in Q1 2026, enabling real share ownership and DeFi-style trading. > @blox_malaysia launches $MYRC on Base, enabling fast, low-cost payments, remittances, and DeFi use cases. > @OndoFinance will bring tokenized stocks and ETFs to Solana in early 2026. > JPMorgan launches its first tokenized money market fund on Ethereum. > Tether leads an $8M strategic investment in @speedwallet to scale Lightning-native, stablecoin-powered payments. > Visa launches a Stablecoins Advisory Practice to help banks and fintechs adopt stablecoin strategies.

@m0 @StartaleGroup 🙌

@stableview @StartaleGroup 👐

Another busy week for stablecoins. Here’s what stood out: > @m0 is building an open framework so digital dollars from different issuers can move and interoperate everywhere. > @StartaleGroup launched Startale USD (USDSC) on M0’s universal stablecoin platform. > Sony plans to launch a USD stablecoin in early 2026 for payments across its gaming, streaming, and anime products. > @Plasma is partnering with Bridge to upgrade the payment rails behind Plasma One. > @fin raised $17M to enable instant, large cross-border transfers without relying on traditional banking rails. > @AxisFDN raised $5M led by Galaxy Ventures to build an onchain yield protocol for USD, bitcoin, and gold. > Ripple received expanded approval from Singapore’s MAS, letting it offer broader token-based settlement services to banks and fintechs.

@Eli5defi Nice list man! should check out @blox_malaysia too

➥ Will Non-USD Stablecoins Rise? Most users outside the US deal with unwanted currency friction because nearly every stablecoin keeps them tied to the dollar. Non-USD stablecoins solve this by giving users assets linked to the currencies they spend and earn in. Let me explain why Non-USD (still) matters in 30s 🧵 — — — ► What Are Non USD Stablecoins? Non USD stablecoins are tokens that track currencies like the euro, yen, pound, or Singapore dollar. They appear in two forms: ▸ Fiat backed, supported by bank deposits or government securities ▸ Crypto backed, maintained through onchain collateral Their purpose is simple. They let users operate onchain in familiar local currencies. — ► Market Landscape USD stablecoins hold more than 300B in supply, while non USD stablecoins sit under 1B. Even with the smaller base, their growth is faster as regional demand rises. Key drivers include: ▸ MiCA improving the regulatory path for euro stablecoins ▸ Japan’s FSA supporting yen based tokens such as JPYC ▸ Southeast Asian remittances increasing the use of XSGD These trends show growing interest in local currency rails across Europe and Asia. — ► Some Non-USD Stablecoins ▸ $EURC from @circle, MiCA regulated euro stablecoin ▸ $EURS from @stasisnet, the longest running euro stablecoin ▸ $EURCV from @SocieteGenerale, a fiat convertible euro token issued by SG Forge ▸ $EURE from @monerium, regulated e money euro stablecoin ▸ $EURA from @AngleProtocol, a crypto collateralized euro option ▸ $EURT from @tether, simple euro denominated transfer token ▸ $XSGD from @StraitsX, MAS regulated Singapore dollar stablecoin ▸ $JPYC from @jpyc_official, FSA approved yen stablecoin ▸ $AXCNH from @AnchorX_Ltd, offshore CNH stablecoin ▸ $IDRX from @idrx_co, Indonesian Rupiah (IDR) stablecoin backed by @LiskHQ on @base ▸ Upcoming Dirham-Backed Stablecoin from @ADIChain_ backed by UAE Central Banks and RWA partner by @adrec_ae — ► Peg Behavior and Usage Peg Stability Most non-USD stablecoins stay within 0.1 to 0.5% of their target currency. Movements in USD terms often reflect forex changes rather than peg stress. Where They Are Used ▸ Euro based DeFi and payments ▸ Southeast Asian transfers via XSGD ▸ Micropayments and digital commerce in Japan with JPYC ▸ Institutional settlement requiring local currencies Users choose them to transact in familiar currencies, not for speculation. — ► Why Non-USD Stablecoin Adoption is Challenging? Non-USD stablecoins (EUR, SGD, JPY, AED, etc.) have grown significantly since 2024, but they still face a set of structural, economic, and practical challenges that keep them far smaller than USDC/USDT. Here are the main ones, ranked roughly by impact: ▸ Liquidity & Network Effects ▸ FX Risk for Global Users & Protocols ▸ Fragmentation Across Currencies ▸ Regulatory Patchwork ▸ Yield & Reserve Management ▸ Corporate Treasury Resistance ▸ Limited On/Off-Ramp Coverage ▸ Interest-Rate & Redemption Mechanics ▸ Geopolitical & Sanctions Risk ▸ Lack of Deep Derivatives Markets — ► Wrap-Up Non-USD stablecoins demonstrate that users desire on-chain assets tied to the currencies they use daily in their respective regions. Their growth in Europe and Asia underscores the demand for regional digital monetary systems. The market is evolving toward a future where multiple strong currencies coexist on-chain.

Summary of the past week in stablecoins: ➤ @Revolut hits a $75B valuation, now Europe’s most valuable private company ➤ Tether increases gold reserves to ~116 tonnes after adding 26 tonnes in Q3 ➤ @Klarna launches KlarnaUSD, the first bank-issued stablecoin on Stripe’s Tempo + Paradigm chain ➤ @Securitize secures EU approval to run tokenized trading + settlement on @avax ➤ AUSD transfers go live on Avalanche with 1:1, zero-slippage movement across Ethereum, Monad, and Avalanche

The stablecoin market just posted its first decline in 2 years. ➤ Market cap down -$4.54B to $303B ➤ Trading volume hit $1.48T, but slowed vs last month ➤ USDT still dominates 60.9% market share ➤ USDC (-2.7%), USDe (-22.5%), while RLUSD climbed to $1B ➤ Euro-stablecoins climbed to $638M, a 3 year high despite market pullback Markets may have dipped, but adoption and real-world usage continue to climb.

@Eli5defi Nice way of mapping them 🫡

➥ Mapping the Yield-Bearing Stablecoin Landscape Yield-bearing stablecoins may share a peg, but a 5% token and a 20% token do not work the same way. Each depends on a different yield source and carries different risk. This map breaks down how these models are structured. Let’s look at the ecosystem map of yield-bearing stablecoins in 30s 🧵 — ► What Are Yield-Bearing Stablecoins? Yield-bearing stablecoins aim to hold a dollar peg while paying yield from sources like treasuries, staking rewards, derivatives funding, or onchain credit. Because each source works differently, every YBS carries its own risk profile. Core categories: ▸ RWA-backed ▸ Crypto-backed ▸ Delta-neutral There are other groups as well that complete the broader landscape. — ► RWA-Backed YBS These earn yield from tokenized US treasuries or money-market assets and sit on the lower-risk end of the YBS spectrum. Risks: ▸ Custodian exposure ▸ Regulatory limits ▸ Lower onchain transparency ▸ Redemption delays Stables: ▸ BUIDL ( @BlackRock ) ▸ USTB ( @SuperstateInc ) ▸ USCC ( SuperstateInc ) ▸ USYC ( @Hashnote_Labs ) ▸ USDY ( @OndoFinance ) ▸ USDG ( Ondo Finance ) ▸ USDO ( @OpenEden_X ) ▸ mTBILL ( @MidasRWA ) ▸ mF-ONE ( Midas ) ▸ USDai ( @USDai_Official ) ▸ M / USDM ( @m0 ) ▸ USDN ( @noble_xyz ) ▸ USD+ ( @DinariGlobal ) ▸sUSDz ( @AnzenFinance ) — ► Crypto-Backed YBS These rely on onchain collateral such as LSTs or other crypto assets. Yield typically comes from staking rewards, lending markets, or protocol fees. Risks: ▸ Collateral volatility ▸ Liquidations ▸ Oracle failures ▸ Peg stress in market shocks Stables: ▸ sUSDS ( @SkyEcosystem ) ▸ stUSDS ( Sky ) ▸ sDAI ( Sky ) ▸ sBOLD ( @LiquityProtocol ) ▸ yBOLD ( Liquity ) ▸ stUSD ( @AngleProtocol ) ▸ sUSDf ( @FalconStable ) ▸ USDD ( @trondao ) ▸ sUSDa ( @avalonfinance_ ) ▸ sDOLA ( @InverseFinance ) ▸ scrvUSD ( @CurveFinance ) ▸ sreUSD ( @ResupplyFi ) ▸ frxUSD ( @fraxfinance ) ...... (Continue Below ⬇️ )

Another big week for stablecoins & RWAs. Here’s what stood out: ➤ @obexincubator has raised $37M to build ‘Y Combinator’ for RWA-backed, yield-generating stablecoins, focusing on assets like compute, energy, and fintech credit, backed by @hiFramework, LayerZero, and Sky ecosystem ➤ @0xfairblock is bringing confidential stablecoin payments to @noble_xyz's AppLayer, enabling encrypted transfers and balances. ➤ @minipay now lets users in Argentina and Brazil spend USDT directly through PIX and Mercado Pago, turning stablecoin balances into real local payments with instant behind the scenes conversion. ➤ @Frax partners with @brale_xyz to let chains and apps issue stablecoins backed by frxUSD pairing Brale’s regulated issuance platform. @samkazemian

@Eli5defi Battery cap is one of the real blockers for robotics right now, will be interesting to see how fast that improves

What will be happening for robotics and AI sector in the next 5-10 years? Report from Bain laid out what's the potential pathway: — Short-Term (0–5 years) ▸ Hybrid robots with human-like perception on wheeled/static platforms are most promising. ▸ Initial deployments in semi-structured commercial tasks like tote picking and palletizing ▸ Enhanced dexterity and battery capacity will expand capabilities into semi-structured service environments — Long-Term (5–10 years) ▸ Physical intelligence expected to achieve cross-domain competencies and potential applications to handle sensitive tasks like remote materials handling and even health care. What a time we live in! Cryptocurrency, AI, robots, and quantum computers will be the key technologies of the future.

About time, Mastercard introduces username-based transfers for self-custody wallets, using Polygon as the default chain. No more copying long addresses or worrying about sending to the wrong place. It makes onchain payments feel like sending money in any regular app.

@0x_Ambrose @cysic_xyz Nice rundown. If mainnet drops this year, things could move a lot faster

G Morning CT!!!! so @cysic_xyz decided to play with our minds a little by dropping mainnet teaser. i'm pumped about mainnet regardless, it just added to my hopium, that it might just happen before the year runs out hehe with that by the way for those who may or may not know, before you can actually understand the vision around cysic you need to go back to what the vision surrounds that's "Zk proofs" > what are zk proofs? i personally see it as a way of trying to prove something without revealing the thing itself instead opening the floor to everyone taking a peak at the full computation, you only get to send something like a template that anyone can verify going from "i hope this output is right?" to "i can fully verify that the output is correct." nothing gets out in the open. but here's the catch, and probably why many don't put too much thought into it. → Proof generating is notoriously heavy serious compute and custom grade hardware is required. > How does Cysic help scale zk proofs? the whole thesis of cysic surrounds the idea that zk performance can't be solved by software alone you need a dedicated hardware → a distributed network of specialized nodes and → a system that turns massive proof generation into something verifiable and efficient. they have something called "Proof-Of-Compute" what dis is? its simple, its like a model that lets thousands of nodes coordinate and generate proofs under real computating conditions (don't worry, stress testing has being done and it works like a charm) rather than the usual ways of relying on centralized operators, you get independence. the work spreads across all nodes that can be checked, validated transparently. plus rewards too what you get isn't theory anymore, Zk proofs become actually scalable in record time, faster and more efficient • proof generates faster • the network verifies them cleanly • a mainnet like systems behavior, as it should be cysic_xyz isn’t aiming for a slightly faster prover solution thats temporary, this is long term stuff.... they're running the compute layer zk has being waited for, kinda like Cinderella waiting to get her shoes from prince charming :) be prepared cos coming cysic mainnet day one. real workloads are actually going to be carried in the best way you can never imagine gsmor

@derparsel @solana Cutting inflation sounds nice, but yeah the real issue is how it hits validators and staking. Curious how they balance that

Here we go, Mert is announcing a @solana inflation reduction proposal for this week. He is pushing the proposal to address perceived over-issuance of SOL, which he views as unpredictable and harmful to long-term holders. He fears diluting value despite the growth in fees and MEV. My quick thoughts on that: 🟢 Lower inflation would decrease new SOL issuance. It would tighten the supply and reduce the selling pressure from staking rewards, which could drive price action. 🟢 A more predictable and lower-inflation model could attract DeFi liquidity and institutional capital. This would support growth on-chain, without relying on the current high emissions. 🔴 Sharp reward cuts could make operations unprofitable for low-margin validators and potentially lead to fewer nodes and concentrated power among larger players. 🔴 Reduced emissions mean lower APYs, which could stop retail from staking and weaken Solana's network security. What is your opinion on this topic?

@Hercules_Defi Big week for upgrades and launches

Forget the bearish PA for a second, the builders are moving at full speed. 𝘍𝘳𝘰𝘮 𝘈𝘝𝘈𝘟 𝘎𝘳𝘢𝘯𝘪𝘵𝘦 𝘵𝘰 𝘍𝘪𝘭𝘦𝘤𝘰𝘪𝘯’𝘴 𝘰𝘯𝘤𝘩𝘢𝘪𝘯 𝘤𝘭𝘰𝘶𝘥 𝘵𝘰 𝘮𝘢𝘴𝘴𝘪𝘷𝘦 𝘐𝘙𝘓 𝘦𝘷𝘦𝘯𝘵𝘴… Here’s everything you cannot afford to miss👇 ----------------------------------------------------------- ➢ @Avax Granite Upgrade is going mainnet this week, Nov 19. This will help with subnet scalability for RWAs and DeFi, will introduce parallel execution, and so much more. This upgrade is majorly to push Avax TPS and enhance smoother deployments of subnet. ➢ @maplefinance ecosystem call is coming this week, Nov 19. They will share Maple’s latest milestones, unveil upcoming Q4 releases, and discuss what lies ahead for 2026. ➢ @Filecoin onchain cloud launch will go live Nov 18. This onchain cloud is basically cloud infra that's directly integrated with its chain. This will open waitlists for builders and major goal is to make storage, data retrieval, and payments verifiable onchain. ➢ @Zilliqa is launching Mainnet upgrade today, Nov 17, with a 7-day stake unbonding period. This will boost both performance and security for DeFi on Zilliqa. ➢ @0xfluid DEX upgrade is coming and this will be a liquidity upgrade for DeFi on Fluid and so much more upgrade to the features. ----------------------------------------------------------- We will be seeing some anticipated token unlocks this week; ➢ @Aster_DEX will be unlocking 78.41M $Aster ➢ @LayerZero_Labs will be unlocking 24.68M $ZRO ➢ @KaitoAI and @MeteoraAG will be doing smaller linear releases, less that $10M each and these releases are tied to their usecases ➢ @yzy_mny will also be unlocking 37.5M $YZY ----------------------------------------------------------- There is no Q4 without irl events, these are the events that will be taking place this week; ➢ The most anticipated Ethereum DevConnect in Buenos Aires ➢ Australia Crypto Convention will be in Sydney and commence Nov 22nd. ➢ International Conference on Blockchain and Cryptocurrencies(ICBC), today in Cambodia ----------------------------------------------------------- Some infoFi news to keep tabs on ➢ @kucoinCom partnered with @chainGPT_pad to drive the future of InfoFi, empowering real engagement and fair rewards ➢ @MindoAI is gaining momentum as we see many onboarding posts from top accounts, we should be seeing some campaign launch soon ➢ @Arbusai infofi platform is also gaining momentum ----------------------------------------------------------- The market might look bearish from here but these upgrades, events, and new campaign etc. are indicators that the space never stops the upgrades and new innovations, these are also events that could help in your trades, don't miss any news or updates. Your thoughts?

The stablecoin world moved fast this week. Here’s what you might’ve missed: ➤ Coinbase walks away from BVNK deal, ending acquisition talks for the U.K. fintech valued up to $2.5B ➤ @BNYglobal enters the stablecoin race with a new issuer reserve fund ➤ @Plasma teams up with @zerohashx to power enterprise payment rails on its network ➤ Standard Chartered + DCS launch DeCard, supporting stablecoin payments starting in Singapore ➤ @moonpay joins the @m0 network, enabling creation of app-specific, interoperable stablecoins ➤ Cash App adds Lightning-powered Bitcoin payments, letting users pay in BTC using USD ➤ @SuiNetwork unveils USDsui, a fiat-backed stablecoin issued by Stripe

@io_bomi @Covalent_HQ Nice one man, curious to see how many new builders this ends up pulling into the ecosystem.

<:) build on-chain apps and get paid for it. speedrun is @Covalent_HQ new prompt-to-earn platform that lets anyone create, deploy and monetize onchain apps using natural language. How? it turns app building into a creator economy experience where tools, dashboards, auctions, frames, and more can be shipped to a live marketplace instantly. builders earn XP, eventually $CXT as users interact with their creations and attribution tracked onchain. the platform combines GoldRush data, x402 programmable payments, audited smart-contract primitives and built-in web3 components to remove all friction such as solidity, infra and approvals. unlike typical no code tools that stop at prototypes, speedrun publishes directly to production with real distribution and economic upside. security is enforced by default with hardened contracts, safe templates and reliable data pipelines. speedrun is designed for developers, students, creators, crypto-natives and newcomers (anyone who can write a prompt). covalent has also launched a speedrun OG cohort for early builders who gain badges, XP boosts, $CXT rewards, office hours and priority discovery placement as they create the first template ecosystem. turn your ideas into on chain apps, earn while you build and shape the future of web3.

@0xAishwary Massive growth 👏🏼

Wow! Polygon on top wrt to growth in daily active addresses.