Bitcoin Stable Coin Market

Eight major stable coins.

Good morning.
This is mitsui from web3researcher.

Today's report is on the Bitcoin Stablecoin Market.

📕 Premise｜Stablecoin Market
🟠8 Bitcoin Stablecoins (SAT / bitUSD / DAII / XUSD / USDRIF / DOC / USDA / FUSD)
💬Summary and Discussion｜Stablecoins are DeFi's Blood

📕 Premises｜Stable Coin Market

Stablecoins are price-stable tokens issued on the blockchain. Legal tender-backed, crypto-asset-backed, and algorithmic types exist and are essential for DeFi activities.

As explained in the Market News, which we update every Saturday, we will look at the current market situation. The overall market capitalization is very huge at $154.79B and is gradually increasing its market share.

The most issued chain is Ethereum, but Tron, which has a large share of USDT issuance, also has a large share.

We are seeing further excitement as major companies are entering the stable coin market one after another, including PayPal last year and Ripple and Sony Bank recently getting into stable coins.

Here is a related report, which you should also read to understand the stablecoin market.

Now let's get down to business and introduce the bitcoin stablecoin market. However, since the market is still in its infancy, we will introduce eight specific projects rather than overall market trends.

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🟠 8 Bitcoin Stablecoins

1, SAT

• First stable coin backed by bitcoin

• Bitcoin Excess Collateralized Debt Protection (CDP) Model

• If the collateral ratio falls below 110% of the minimum CR (MCR), a liquidation event occurs

• First stablecoin issued utilizing L2 "BEVM" connecting BTC and EVM

• Test net launch in February 2024, main net launch in March 2024

• Existence of $OSHI tokens as governor tokens

• More than 100,000 addresses on test net

🔗Official : HPLink / X / Medium