Evening Must-Read: Hong Kong should issue stablecoin backed by foreign exchange reserves

Viewpoint 1: Hong Kong should issue a stablecoin backed by foreign exchange reserves

Issuing a stablecoin denominated in Hong Kong’s currency would not only help solidify Hong Kong’s position as a leader in blockchain technology, but it could also push forward the digital Hong Kong dollar, improve transaction efficiency, reduce transaction costs, and improve the current payment system, further enhancing Hong Kong’s financial technology capabilities. At the same time, a stablecoin denominated in Hong Kong dollars can improve the efficiency and inclusiveness of Hong Kong’s financial system. Its stability, free convertibility, high security, high degree of open source and cross-border liquidity can provide support for broader financial innovation. Launching a stablecoin denominated in Hong Kong dollars will undoubtedly inject new vitality into Hong Kong’s economy, helping to enhance Hong Kong’s competitiveness in the digital economy era. Click to read

2. Key information overview of Binance’s latest LSDfI project Pendle

On July 3rd, Binance announced that its innovation zone had launched Pendle at 18:00 as the 35th project on the Binance Launchpool, and mining began at 8:00 on July 4th. The following is a key information overview of Pendle: Pendle is an unlicensed revenue trading protocol where users can execute various revenue management strategies. Revenue assets are divided into primary tokens (PT) and revenue tokens (YT), allowing users to choose to earn fixed or flexible income on the Pendle v2 AMM. Click to read

3. SBlockingrtan Labs: 5 projects worth watching at ETHGlobal Waterloo Hackathon

Famous crypto VC SBlockingrtan Labs said that in addition to projects that better meet the user experience needs of the encryption field, many new trends have emerged, the most obvious of which are: 1. ERC-6551: Token-bound accounts; 2. AI-driven projects; 3. ERC-4337: Account abstraction. SBlockingrtan Labs believes that five of the 11 finalists in the ETHGlobal Waterloo project are the most worth watching. Click to read

4. Three development directions of Web3 advertising

The Web3 advertising field will be defined by the following three emerging models: on-chain advertising: NFT advertising, NFT referral links, and NFT ownership as advertising space; token-managed advertising: tokens that manage key assets on the management platform (i.e. homepage content, storefronts, and NFT issuances); hybrid advertising: using on-chain protocols or attribution engines to connect on-chain and off-chain data for traditional off-chain advertising. Click to read

5.2023 Top 10 Events in the Cryptocurrency Market

As of mid-2023, the cryptocurrency market is leading global risk assets. However, the rise has not been smooth sailing, with cryptocurrency prices fluctuating and causing concern. What breakthroughs have there been in the industry over the past six months? What experience can we draw from them to find the next trend? In this issue, we review the top 10 events in the cryptocurrency market in the first half of 2023 to find answers. Click to read

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