"TETHER"

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This article explores Ethena’s business model, how USDe generates returns, and compares the strengths and weaknesses of Ethena and Tether. We’ll also look at where the stablecoin market may be headed and how Ethena, Tether, and others might compete in the future.

To transcend the US dollar system, Tether's future lies not only in maintaining its role in global payments and liquidity but also in deeply exploring how to establish a truly supranational monetary system.

Tether's Aggressive Expansion: How USDT 0 & Proprietary Networks Aim to Consolidate Fragmented Liquidity and Redefine Stablecoin Dominance

Reviewing Tether's ten-year history, discussing its impact on the stablecoin market and its future important role in global finance.

Tether, the world's largest stablecoin issuing company, recently launched a new stablecoin, aUSDT, designed to meet growing market demand and inject new vitality into the DeFi ecosystem. aUSDT is a unique digital asset powered by Tether Gold It is over-collateralized, meaning aUSDT is backed by real physical gold stored in Switzerland. aUSDT uses an over-collateralization mechanism and smart contracts to ensure the stability of its value and the transparency of the system. It can not only use the intrinsic value of gold to provide additional stability, but also achieve automated management through Ethereum-compatible smart contracts. It is applicable for various trading and investment needs.

Alloy by Tether combines the stability of the US dollar with the security of gold, offering a reliable digital currency for daily use and asset management. The platform introduces "Tethered Assets," supporting single or multiple types of collateral. It tracks reference asset prices through strategies like over-collateralization of liquid assets and secondary market liquidity pools, ensuring consistent value and stability.

This article introduces the construction of Ethena, its pegging mechanism to the US dollar, and associated risks. An evaluation model for Ethena's valuation is also provided. Tether carries risks that could potentially disrupt global bond markets. Ethena allows users to mint the stablecoin USDe by depositing assets, offering high yield through collateralization. Ethena has the potential to become a kingdom in the crypto space with a valuation reaching into the hundreds of billions of dollars.

Tether Gold (XAUt) is a digital asset backed by physical gold, offering a blockchain-based way to buy, hold, and transfer gold ownership. As of March 2025, XAUt has grown to $680M market cap with enhanced verification systems, improved redemption processes, and expanded DeFi integrations, maintaining its position as a leading gold-backed cryptocurrency despite market fluctuations.

Tether has introduced USDT0 to tackle the issue of fragmented liquidity for stablecoins across blockchains. With LayerZero’s support, USDT0 ensures smooth cross-chain transfers, reduces transaction costs, and enhances capital efficiency.

Issued by Teather, USDT is the first and biggest stablecoin. USDT is fully backed by the US Dollar, which helps reduce price fluctuations and makes USDT trading and holding more convenient. This article will tell you more about USDT.

This article explores the role of USDT as a stablecoin in developing economies in terms of its supply, adoption trends, usage patterns, and the nature of Tether reserves. While there are valid concerns about centralization and transparency, the diverse benefits Tether offers should not be overlooked.

The article details how Antalpha hedges against macroeconomic fluctuations by allocating XAU₮, enriches the collateral structure, and provides stable financing channels for institutional clients.

I believe the true potential of web3 lies in its intersection with real-world industries like energy, AI, IoT, and supply chain. By focusing on these building applications, web3 can finally deliver on its promise of ownership, transparency, and broader societal impact - moving beyond speculation to create lasting value.

The stablecoin landscape is evolving rapidly, driven by innovation, regulatory changes, and market demand. Each of the top 15 stablecoins analyzed offers unique features, pegging mechanisms, and reserve reports. From Tether's increasing market dominance to the decentralized governance of DAI and the hybrid model of FRAX.

Abraxas Capital has accumulated over 270,000 ETH in a week, heavily investing in the Ethereum LST ecosystem, becoming an active Whale on-chain. Its subsidiary Heka Funds was once one of Tether's largest institutional clients, with assets under management exceeding $3 billion, and is shifting from stablecoin arbitrage to DeFi yield reuse strategies.