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SUN XIAOCHUAN(Emperor of Xinjin)
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Underground crypto godfather Chief Abstraction Officer Emperor of Xinjin Kyoto thug
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SUN XIAOCHUAN(Emperor of Xinjin)
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In my opinion, the bank's capital efficiency will not be higher. Because stablecoins are all "fully collateralized", they cannot generate a monetary multiplier effect. For example, if a bank issues stablecoins, the changes in its balance sheet might be: 1. Asset side: 1:1 reduction of reserve funds (in the era of excess reserves, simply reducing is sufficient) to purchase short-term debt (increase) 2. Increase stablecoins on both asset and liability sides 3. After sending stablecoins to the demand side, reduce stablecoins on the asset side and reduce bank deposits (demand side deposits) Or establish a dedicated subsidiary for issuing stablecoins. If so, its impact on the bank's balance sheet would be similar to <Circle> and other companies. You will find that this does not generate a monetary multiplier like "loans": i.e., increasing loans on the asset side and increasing deposits on the liability side. Ultimately, the "loan" operation consumes only 0.0x% of bank reserves when increasing deposits, while stablecoin issuance consumes reserves in a real sense.
菠菜菠菜｜bocaibocai
@bocaibocai_
最近一直在思考，稳定币板块未来五年什么公司的股票会爆发？ 有个暴论：我认为银行会在稳定币支付领域拥有绝对性优势占据主导地位，借助其清算网络以及货币创造能力的结构性优势。 支付服务提供公司只能以 1:1 资本效率来运作时（每笔交易需要100%预存资金），而银行可以以 29:1
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SUN XIAOCHUAN(Emperor of Xinjin)
08-02
OKX Listing-related work, at least in this round, has been done very poorly. 1) The most direct manifestation is that the spot market share has dropped quite a lot: previously, the OKX spot market share could still be around 9%, but now it is already over 6%. During the same period, Bybit's market share has risen from over 8% to the current over 14%. The value of the spot market, I think those who understand the exchange know, once lost, the difficulty of regaining it will increase sharply.
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@star_okx
08-02
加密货币交易所List Token的初衷是什么？一些Token项目方在List到交易所以后，唯一做的事情就是释放、减持和收割用户。交易所不应该成为这类项目方的帮凶, OKX在List方面做的也不好。由于暂时没有List和减持方面的监管，如何保护这个市场？这是一件值得全行业反思的事情。 x.com/xiaomucrypto/s…
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