USDC (USDC)

Today, more than 140 companies, including @Visa, @Mastercard, @stripe, @BlackRock, announced Open USD. I It’s not the stablecoin itself that’s interesting, but the economic model. A classic stablecoin USDC, USDT retains all the seigniorage: the issuer earns on reserves held in t-bills, while the user gets nothing. Open USD breaks this model in two ways: → minting and redeeming are free and unlimited, the issuance fee drops to zero; → income from reserves goes to partners, minus a small management fee. In other words, issuance ceases to be a source of margin and becomes infrastructure. Value shifts from whoever mints the token to whoever controls distribution and the end customer. This is the logic of commoditization: when the base layer is standardized and distributed almost for free, competition moves to the next level. For @circle and @tether, the question is no longer “whose stablecoin is better,” but “will a business model built on revenue that is now given to the customer be sustainable?”

Variational Trading Competition: $20,000 Up for Grabs Variational launched its fourth trading competition on Omni - a $20,000 prize pool for climbing the leaderboard over the next two weeks, all focused on RWA (real-world asset) trading. How it works: • Trade RWA markets on Variational Omni via our link • Hit $250,000+ in total RWA notional volume to qualify for the leaderboard • Score = TradFi PnL × √TradFi Volume - so both profit and size count • Runs June 29 - July 13, leaderboard updates every ~10 min And here's the extra: everyone who signs up through us earns points - regardless of where you place on the leaderboard. Even if you don't crack the prize spots, you're still farming. Join here: https://t.co/3aQHPDu6hM

$250M $USDC minted

NYLIM (New York Life Investment Management), which manages about $807 billion, announced a partnership with the RWA platform Centrifuge to launch its first tokenized fund, the NYLIM Anemoy U.S. High Yield Corporate Bond Segregated Portfolio (HYB), one of the earliest on-chain high-yield corporate bond tokenization products in the industry. The fund will be issued via the Centrifuge platform, and eligible investors can subscribe and redeem using USDC, while the underlying investment portfolio remains managed by NYLIM. (The Block) https://t.co/hFA9FIJnBl

it really takes a bunch of Unstable folks to pull this off genuinely iykyk @Mirgolicious i need me an unstable hat to rock Unstable coded🫱🏻‍🫲🏼

Wu reported that, according to Whale Alert data, at 19:35 the USDC Treasury newly minted 250,000,000 USDC on the Solana network, equivalent to about $250 million. According to Circle’s website, as of June 25 the total USDC issuance is $73.6 billion, with reserve assets of $73.9 billion. https://t.co/DRyrx0PtDB

Wu reported that Zama announced that currently $13 million has been deposited into Morpho's new yield vault accepting privacy USDC (cUSDC). The vault is overseen by Steakhouse Financial, which designs credit strategies, aiming to help institutions capture on-chain DeFi yields while providing full privacy for account balances, position allocations, and trading strategies. https://t.co/OkNgRPLe8h