Synthetix founder Kain updated on the sUSD depegging issue, with the current price at 0.990619 USD, and it is expected to re-peg. Previously, the sUSD price fell to 0.7 USD, and Synthetix took emergency measures by launching a USD 420 pool to incentivize SNX stakers to deposit sUSD and provide rewards.

DWF Labs CEO Andrei Grachev promised to provide more details next week about the $630 million in crypto assets backing USDf. USDf is a stablecoin issued by Falcon Finance, designed to be pegged to the US dollar, but it has recently struggled to maintain the $1 peg. Although Falcon claims its assets exceed collateral requirements, critics on social media question the liquidity and transparency of its reserve assets. Grachev stated that most of Falcon's crypto assets are held in stablecoins and Bitcoin, but about 96% of the reserve assets are off-chain reserves that cannot be independently verified. He also emphasized that USDf adopts a market-neutral strategy and claims that the peg mechanism of USDf is naturally maintained by traders. However, critics express concerns about the design of the stablecoin and potential liquidity risks.

The stablecoin Falcon USD issued by Falcon Finance fell below the 1 USD peg on July 9, reaching a low of 0.9783 USD, with on-chain liquidity shrinking by over 80%. Although the managing partner claims that its over-collateralization ratio is 116%, DeFi research institutions warn of the risk of over-issuance.

According to Gate News bot, a report from Reuters stated that at a money market fund conference held in Boston this week, **stablecoins may drive a surge in demand for short-term U.S. Treasury bonds, becoming a hot topic**. Attending investors expect that later this year stablecoins will absorb a significant amount of U.S. Treasury supply. Stablecoins are typically pegged to high liquidity assets like the U.S. dollar, and to maintain a 1:1 value peg, their issuers need to hold a large amount of highly liquid safe reserves, which usually means purchasing U.S. Treasury bonds.

According to Jin10 data on June 27, foreign media reported that at a money market fund conference held this week in Boston, stablecoins may drive a surge in demand for short-term U.S. Treasury bonds, becoming a hot topic. Attending investors expect that later this year, stablecoins will absorb a large amount of Treasury supply. Stablecoins are typically pegged to highly liquid assets like the U.S. dollar, and to maintain a 1:1 value peg, their issuers need to hold a significant amount of liquid safe reserves, which often means purchasing U.S. Treasury bonds. Yie-Hsin Hung, CEO of State Street Global Advisors, stated that stablecoins are attracting substantial demand for the Treasury market. Currently, about 80% of the stablecoin market is invested in U.S. Treasury bills or repurchase agreements, totaling approximately $200 billion. Although it accounts for less than 2% of the entire Treasury market, the rise of stablecoins is rapid and is likely to outpace the growth of Treasury supply.

According to Gate News bot, Bloomberg reported that Hong Kong bought Hong Kong dollars on Thursday to support its Exchange Rate, aiming to defend the peg to the US dollar.

Synthetix founder kain.avax revealed on the X platform that a new client project has been built using Cursor, with Claude Opus submitting a 10,000-line code PR, and the project is now operational. At the same time, after the sUSD decoupling, the SCCP-409 proposal has been approved to increase the sUSD stake for debt relief participants to 20%, promoting the restoration of sUSD's peg.

Synthetix founder Kain.avax has built a new project development environment on the X platform, introducing servers/databases to make the project stronger. Claude Opus submitted a Pull Request with 10,000 lines of code, and Kain.avax successfully rebuilt the project in 40 minutes, bringing it close to operational status. Proposal SCCP-409 has been passed to provide additional support for Synthetix's stablecoin sUSD, with debt forgiveness participants needing to increase sUSD stake to 20% to help restore sUSD's peg.

Synthetix strengthens the sUSD peg through the SCCP-409 proposal, raising the sUSD staking requirement for debt relief participants to 20%, prompting sUSD to recover to $1.00. Please note the change in staking requirements; those who do not meet them will have their debt relief suspended. Additionally, treasury buybacks, liquidity incentives, and Infinex activities will be implemented to support this initiative.

Odaily News Synthetix announced that its stablecoin sUSD will restore to the target of 1 USD, and starting from June 2 at 23:59 UTC, SNX debt collateralizers will be required to increase the collateral ratio of sUSD in pool 420 from 10% to 20%, otherwise, the debt exemption will be suspended. Previously, due to user dumping, sUSD once fell to 0.70 USD. The official stated that restoring the peg will help advance the SIP-420 proposal and the subsequent v4 contract deployment on the Ethereum Mainnet.

According to Gate News bot messages and a report from Cointelegraph, Kyrgyzstan is advancing the legalization process of the gold-backed stablecoin USDKG. William Campbell, the head of advisors for USDKG, explained in an interview that this stablecoin adopts a 1:1 dollar peg mechanism, rather than being directly linked to the price of gold, and is supported by physical gold reserves. To ensure operational transparency, USDKG will undergo an audit by one of the Big Four accounting firms (likely KPMG or Ernst & Young) every six months, and the audit results will be made public on the Blockchain.

According to Gate News bot, the Bitcoin layer-2 network Botanix has launched a technological solution to prevent Double Spending. This solution is based on the Spiderchain federated attestation Bitcoin chain, utilizing a rotating multisignature Wallet structure to manage the flow of funds. Currently, a 2-of-3 signature mechanism is implemented, with plans to upgrade to a 12-of-16 signature mechanism in the future. The system requires that the deposit (peg-in) and the withdrawal (peg-out) operations must be signed by the majority coordinator. Based on the Bitcoin UTXO model, Botanix has designed a "collision input mechanism" where each peg-out transaction needs to reference the previous output as input. Transactions that reuse the same UTXO will be rejected by the network. This mechanism combines the staking penalty mechanism of PoS consensus to ensure the secure two-way bridging of cross-chain assets at both the technical and incentive levels. Source: wublock123

Chainge is a cross-chain DeFi project launched by DJ Qian, the founder of Multichain. Recently, some users have encountered issues withdrawing funds, mainly concentrated around the wKAS cross-chain bridges. The team claims that the issue is caused by individual "malicious users" leading to insufficient liquidity. Despite promises to inject liquidity, the problem has persisted for months without resolution, causing the wKAS Token to lose its peg. Currently, the Chainge frontend services are still open, attracting market attention.

Ripple partner Airwallex completes $300 million Series F funding, achieving a valuation of $6.2 billion. Airwallex joined RippleNet in 2017 and has made progress in modernizing global payments. The company has raised a total of $1.2 billion, attracting investments from Square Peg, DST Global, and others. Its commercial Blockchain provides customers with a unique global payment experience, allowing merchants to securely access a variety of payment methods.

Pareto has launched a new synthetic dollar, USP, which connects institutional investors with DeFi opportunities. Users can deposit assets in stablecoins for minting at a ratio of 1:1. The deposited funds will be placed in a credit vault and lent to vetted institutional borrowers, allowing users to earn returns. Pareto employs a "native support" process and arbitrage mechanisms, establishing a stability reserve to maintain the peg to the dollar and address borrower defaults.

According to LSEG data, on May 2, Jin10 reported that the Hong Kong dollar reached a strong side convertibility guarantee level of 7.75 HKD against the US dollar on Friday. The last time the Hong Kong dollar reached the strong side convertibility guarantee level was at the end of 2020, and it touched the weak side convertibility guarantee level in 2022 and 2023.

Solstice Labs announced the launch of the yield-generating synthetic stablecoin USX and the native staking protocol on the Solana Blockchain, aimed at providing users with yield opportunities traditionally exclusive to institutions in DeFi. USX achieves delta-neutral returns through arbitrage and staking strategies, fully collateralized by USDT and USDC to maintain its peg, and holders can access the YieldVault protocol with a total lock-up position of $100 million.

Jin10 data, April 12 - According to a statement released by the Central Bank of Argentina on its official website, Argentina has abandoned the crawling peg exchange rate mechanism, allowing the peso to float within a range. The Argentine side also stated that the International Monetary Fund (IMF) will provide $15 billion in funding support in 2025.

BlockBeats news, on April 3, FDUSD issuer First Digital stated, "The market price of FDUSD shows signs of stabilization, and the latest data indicates it is gradually returning to the 1 USD peg. As of the latest update, the trading price of FDUSD is approximately 0.99."

The Indian rupee may fall to 90, and the monetary authorities are prepared to abandon the implicit peg of the rupee to the US dollar, causing the exchange rate to depreciate and the interest rate to drop, without exacerbating the sharp fall in the exchange rate. The recent fall of the rupee to an all-time low has sparked speculation that the central bank will relax its strict control over the rupee.

TRON has announced that the USDC stablecoin has officially launched on its network in recent days. USDC is a stablecoin Cross-Chain Interaction tool designed on the TRON blockchain, providing options for seamless interaction with the TRON ecosystem, and enabling the free conversion of USDC between Ethereum and TRON through Cross-Chain Interaction technology.

Odaily Planet Daily News reported that Injective announced on X platform that Paxos has launched a profitable Stable Coin Wrapped Lift Dollar (wUSDL) in the Injective ecosystem. Users can use this new Stable Coin in Injective's Decentralized Finance protocol suite, and earn income by holding the asset. wUSDL is a wrapped version of USDL on Ethereum, with a 1:1 peg to the US dollar.

Aave Labs proposes to update its GHO stable module to use BlackRock's BUIDL tokenized fund shares to maintain its Stable Coin's USD peg. The proposal will allow Aave to exchange USDC provided by users for BUIDL shares to mint its ecosystem's native USD-backed Stable Coin GHO. The BUIDL fund manages assets of over $502 million.

On June 30th, Jinshi Data reported that CITIC Securities research report pointed out that the market has basically completed the adjustment caused by the expected correction, and the trend of survival of the fittest in the market continues. Looking forward to the third quarter, policy signals, price signals and external signals are expected to become clear one after another. It is expected that the market liquidity will be significantly improved after the Third Plenary Session of the 19th Central Committee of the Communist Party of China. Investors will gradually shift from the PEG framework to the free cash flow framework, and funds will gather towards leading companies in various industries. After the three major signals become clear in the third quarter, the market turning point will appear. Currently, the dividend low volatility should be continued in the allocation, and gradually shift to high-quality growth after the turning point appears.

Chen Guo of China Securities Construction Investment said that the current round of U.S. stock bull market is mainly driven by liquidity and AI industry trends, and has been maintained for 17 months since October 2022. At present, the market is worried about the U.S. stock market, the risk of U.S. debt is relatively small in the short term, and there is still some room for "fiscal easing" policy; although the U.S. banking industry is still facing a test, it will not evolve into a systemic crisis. The current market concerns about the high valuation of MAG7 are mainly driven by strong earnings expectations, and PEG is still in a reasonable range, but MAG7 trading concentration is on the high side, which may lead to the amplification of periodic volatility. There is no obvious fluctuation factor in the US stock market in the first half of this year, and the real variable may lie in the impact of the US election on the US stock market in the second half of the year.

Hong Kong-based fintech company AnchorX has announced its official launch and will explore the Hong Kong dollar stablecoin AxHKD. As another important player in Hong Kong's virtual asset space, AnchorX was established with the strategic support of leading companies in traditional finance and blockchain technology. Hony Capital, China's leading investment management group, manages more than $16 billion in assets and provides resources and business synergies for AnchorX. In addition, the Conflux Network provides AnchorX with a foundational technology with superior scalability, security, high speed, and low cost. AxHKD will leverage the world's leading decentralized ledger technology with strong cyber security support. AxHKD ensures a 1:1 peg to the Hong Kong dollar through high-quality, highly liquid asset reserves. These reserve assets are secured through a segregated trust structure and are held by financial institutions regulated in Hong Kong. AnchorX plans to promote AxHKD's applications based on two main use cases. First, to serve as a catalyst for global cross-border payments, facilitating cross-border business between Hong Kong and the global market, especially with Belt and Road partners with inadequate banking infrastructure. Secondly, as a reliable on-chain fiat currency tool, it is applied to virtual asset trading, and at the same time, it is a physical asset (Real World) in Hong Kong