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ijgveu

@plj

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68 Followers


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According to TheBlock, the update of the UsualMoney protocol resulted in a 8.5% drop in the price of its pledged stablecoin USD0++from $1 to $0.915 on decentralized exchanges. The protocol introduces a dual path exit mechanism, allowing users to redeem USD0++at a floor price of 0.87 USD0, or choose to give up part of their earnings for a 1:1 redemption, but the change without prior notice has sparked community criticism. USD0++was originally a zero coupon bond token locked for four years, with a typical market value of $0.855, but previously USD0 could be redeemed 1:1. After the update, a large number of holders sold USD0++, causing it to become severely imbalanced in the Curve pool, with prices fluctuating to 92%. Community members accused the team of not announcing in advance and locking in a large amount of funds, but some also believed that this move would contribute to long-term stability.@plj @ftihvb
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According to Hong Kong Ta Kung Pao, Zhu Haokang, head of digital asset management and family wealth management at Huaxia Fund (Hong Kong), stated that in order to encourage mainland enterprises with investment and financing needs to raise funds in the Web3.0 industry through Hong Kong's compliant tokenization securities laws and virtual asset trading platforms, Hong Kong can take the following measures: firstly, Hong Kong should fully leverage its advantages as an international financial center and actively improve the legal and regulatory framework for tokenization securities. At the same time, professional institutions in Hong Kong can provide legal and financial consulting services for mainland enterprises on RWA token issuance, helping them familiarize themselves with the issuance and trading process of tokenized securities. Finally, Hong Kong needs to establish a sound investor protection mechanism to ensure effective protection of investors' rights and interests. @tiffaniindex
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