# stablecoins — X 热门讨论 (2026-10-01 07:40 UTC)
## @Coachkcrypto (Coach K ----- (Trading, Coaching, Winning)) · 10-01 06:11 · ♥124 ↻4 💬20 Most people move stablecoins on $TRON. Most institutional assets sit on @CantonNetwork
Until now those two worlds didn't talk to each other.
What I like is @cancore_io didn't build a special workaround for TRON: both sides lock, both settle, and your keys your crypto!
This is the way! > 引用 @cancore_io: TRON is now live on Cancore.
Six networks now connect through one platform: Canton, Ethereum, Arbitrum, BNB Chain, Robinhood Chain, and TRON.
Same atomic mechanics across every route. Both sides lock under the same condition. Both settle together. Custody stays with you throughout.
More networks. More liquidity. One Cancore.
Live now → https://t.co/2W7TSEtrKI https://x.com/Coachkcrypto/status/2105541091147882557
## @WorldOfMercek (Mercek) · 10-01 07:01 · ♥58 ↻6 💬42 Stablecoin cards just hit $1.17B in monthly spending, turning digital dollars into a growing payment rail.
Crypto is increasingly using existing card networks to bring stablecoins into everyday spending.
Here’s how stablecoin cards are reshaping digital-dollar payments.
— — —
► Stablecoin cards are entering a new phase
Stablecoins are moving from trading and transfers into everyday spending through existing card networks.
• $1.17B monthly spending in September • ~11M transactions, nearly flat from August • ~$107 average transaction size, up from $86 in July
The growth is increasingly coming from higher-value usage rather than more transactions.
— — —
► Cards bypass crypto’s biggest payment bottleneck
Stablecoin cards use existing payment infrastructure instead of requiring merchants to accept crypto.
Users hold $USDC or $USDT → swipe a card → merchant receives fiat.
• 175M+ @Visa merchant locations • 160+ stablecoin-linked programs
This lets cards scale before crypto-native merchant acceptance becomes widespread.
— — —
► Stablecoin card growth is concentrated among a few issuers
RedotPay has pulled far ahead on volume, giving it a distribution advantage smaller programs have yet to match.
Its lead is significant, but the faster growth at EtherFi, KAST, Karta, and Wirex One shows competition is expanding beneath the leader.
• @RedotPay : The clear volume leader, supported by $6.57B in all-time spending. • @ether_fi : Growing 20.3% as it scales its card program. • @KASTxyz : Up 11.1% as stablecoin spending expands beyond the largest issuer. • @Karta_Personal : Growing 14.4% from a smaller base. • @wirexapp : The fastest-growing major program at 40.1%.
— — —
► Visa dominates the stablecoin card distribution layer
@Visa processed $1.13B in September stablecoin card volume, compared with just $44.5M for @Mastercard.
That gives Visa more than 96% of tracked volume and shows where the real distribution advantage sits.
• Crypto is not replacing card networks • Stablecoins are using existing rails to reach everyday payments
— — —
► Base is now leading the settlement layer
September recorded $788.9M in on-chain stablecoin card volume, with Base taking 27.5% of activity.
• @base : $216.8M • @Optimism : $127M • @solana : $109.3M • @StellarOrg : $69.3M • @Polygon : $50.9M • @ethereum: $49.5M • @Plasma : $38.3M
The chain mix is diversifying, but this reflects settlement infrastructure rather than where users consciously choose to transact.
— — —
Stablecoin cards have solved merchant acceptance by routing digital dollars through existing payment rails.
The next battle is primary-account capture, where stablecoins handle salaries, savings, and recurring payments.
That is where cards move from payment products to financial infrastructure. https://x.com/WorldOfMercek/status/2105553588126667011
## @Mustyweb3_ (Musty Ich) · 10-01 06:48 · ♥43 ↻6 💬42 Good morning Fam
Welcome to Q4
What if your stablecoins could do more than just wait in your wallet?
With @cashi, the idea is simple:
→ Hold digital dollars → Spend globally → Earn cashback on eligible purchases → Use your rewards toward future spending
That creates a more practical loop between crypto and everyday payments.
Stablecoins → spending → rewards.
That’s the part worth exploring. https://x.com/Mustyweb3_/status/2105550298336891077
## @applekhankorea (π(Pi) is Collateral Asset (GAV,GAC)) · 10-01 05:07 · ♥44 ↻14 💬0 Strategic Predictive Analysis ::: Pi Network × Open Standard/OUSD: The Moment the Value of a Pioneer-Built Ultra-Low-Cost Economic Infrastructure Becomes Visible (( OpenStandard Official announcement , PIRC-101 , KOSASIH/pi-supernode & pi-supernode/src/config /constant.js ))
* [[[ This article includes Predictive & Technical Analysis and may differ from actual outcomes ]]]
[[[ Why Pi, once misunderstood as a free mining coin, may be revalued as the human network layer of a global identity-based settlement system. ]]]
[[[ OUSD may be the door for enterprises, while Pi may be the verified human economy they are entering. ]]]
[[[ Exchange price is only a liquidity signal; the internal purchasing power of mined Pi may come from contribution and massive transaction-cost reduction. ]]]
[[[ From the volatility game of traditional crypto to an identity, collateral, settlement, and ultra-low-fee economic operating system. ]]]
1. The Open Standard announcement is not just another stablecoin story
Open Standard describes Open USD, or OUSD, as a stablecoin infrastructure designed for enterprise settlement, banking, cross-border payments, and institutional transactions.
Its early founding partners include names such as Coinbase, Mastercard, Shopify, Stripe, and Visa. This means OUSD is not being positioned merely as another speculative crypto asset, but as a practical settlement layer for real businesses.
Mastercard has also described this direction as part of a “multi-money world”, where bank deposits, card networks, real-time payments, digital assets, and stablecoins may all operate within one connected financial environment.
In other words, this is not simply the launch of another token.
It is the moment when global payment, finance, commerce, and technology companies are building a digital dollar settlement network — and that network needs real users, merchants, apps, wallets, and identity.
This is where Pi Network becomes strategically important.
Pi is not merely an exchange-centered crypto asset. For years, Pi has been building KYC, wallets, apps, nodes, a Pioneer community, Launchpad experiments, and contribution-based participation.
If Open Standard/OUSD is an enterprise dollar settlement rail, then Pi may be the verified human network that this rail can connect to.
------ 2. OUSD does not replace Pi — it may be the door through which enterprises enter the Pi economy
Many Pioneers may ask:
“Does OUSD replace Pi?”
The answer is no.
Their roles are different.
OUSD is a dollar-denominated settlement asset that enterprises, banks, payment companies, and institutions can use for accounting and settlement.
Pi is the original layer of identity, contribution, ownership, collateral, applications, Pioneers, and Launchpad access.
The structure can be understood like this:
OUSD = the dollar settlement adapter through which external enterprises enter the Pi ecosystem Pi = the source network of verified humans, contribution, ownership, and collateral $REF = a possible internal stable settlement token connecting Pioneer consumption and merchant settlement Launchpad tokens = project-specific rights, services, access, rewards, or utility
If this structure is correct, OUSD does not absorb Pi.
Instead, OUSD becomes an adapter that allows enterprises to connect to Pi’s verified human economy.
------ 3. Exchange-traded Pi may become the “blood” of the network Today, many people see exchange-traded Pi simply as a price ticker. But if the Pi economy connects with OUSD, $REF, Launchpad, KYB businesses, and Pioneer reward programs, the meaning of exchange-traded Pi changes.
Exchange-traded Pi becomes the bloodstream that carries external dollar liquidity into the Pi Network economy.
External users or enterprises buy Pi on exchanges. That Pi becomes network access, transaction fuel, liquidity support, settlement support, or a bridge into Pi’s internal economy. Through this process, external dollar liquidity enters the Pi ecosystem.
But the most important point is this:
Pi bought on exchanges and Pi earned through pure mining and contribution do not need to have the same accounting status.
Exchange-bought Pi is a usage right purchased with external liquidity.
Pure mined Pi is a contribution right earned through mining, KYC, lockup, node operation, validation, app usage, and long-term ecosystem participation.
This distinction is essential.
External capital may be able to buy Pi, but it should not automatically be able to buy the historical contribution rights built by Pioneers over many years.
------ 4. Ultra-low transaction fees may become the mathematical basis of the Sovereign Multiplier In KOSASIH’s pi-supernode constant file, the following values appear:
TRANSACTION_FEE: 0.00000001 USD TRANSACTION_FEE_ADJUSTMENT: 0.000000001 USD
Using the current exchange price discussed here, 1 Pi = $0.09228, the calculation becomes very clear.
At the base transaction fee:
$0.09228 ÷ $0.00000001 = 9,228,000 transactions
At the dynamic adjustment factor:
$0.09228 ÷ $0.000000001 = 92,280,000 transactions
In other words, one exchange-bought Pi can theoretically cover around:
9.22 million to 92.28 million transaction fees
For an individual human being, this is almost beyond a lifetime of ordinary transactions. To make 9.22 million transactions over 80 years, a person would need to make about 316 transactions every single day.
So exchange Pi can be interpreted as: A network fuel unit capable of enabling around ten million economic state changes.
But who built the infrastructure that makes this possible?
Pioneers did.
They mined. They waited for KYC. They migrated. They ran nodes. They tested apps. They validated others. They kept the ecosystem alive.
Therefore, assigning much higher internal purchasing power to pure mined Pi is not merely fantasy.
It can be interpreted as:
A way to return the future transaction-cost savings created by this ultra-low-cost infrastructure back to the Pioneers who helped build it.
------ 5. PiRC-101 explains this structure as a monetary contract framework
The community-proposed PiRC-101 framework explains this structure more clearly. Its key concepts include:
QWF — Quantum Wealth Factor / Sovereign Multiplier Base value: 10,000,000
IPPR — Internal Purchasing Power Reference The internal purchasing power reference for pure mined Pi.
$REF — Reflexive Ecosystem Fiat An internal stable settlement asset that merchants and enterprises may receive.
Core Vault The vault where mined Pi is locked as collateral.
Justice Engine An algorithmic engine that monitors oracle prices, network velocity, TVL, and liquidity before allowing $REF issuance. The core idea is this: Merchants do not settle in volatile external Pi. They price goods in USD, and contracts settle in $REF. $REF is collateralized by mined Pi locked in the Core Vault. If this model is adopted, Pi is not merely a payment coin. Pi becomes a collateral asset. $REF becomes a settlement asset. OUSD becomes an external dollar rail. Launchpad tokens become project-specific rights assets.
------ 6. Exchange price × 10 million may become the minimum internal purchasing power of Pioneer Pi If the current exchange price is $0.09228 and the base QWF is 10,000,000, then:
$0.09228 × 10,000,000 = $922,800
This means one pure mined Pi may have a minimum internal purchasing power of about:
$922,800
If the golden ratio expansion factor 1.618 is applied, then:
$0.09228 × 10,000,000 × 1.618 ≈ $1,493,090
So the internal purchasing power of one Pioneer-qualified mined Pi, under this model, may fall within the range of:
$922,800 to $1,493,090
The important point is that 10 million is the baseline, not the ceiling. For Pioneer-qualified Pi, the minimum may be 10 million times the exchange price, and if network conditions are strong enough, the golden ratio expansion factor may apply.
If there is a QWF_MIN of 100,000, that may represent the starting multiplier for later users, general contributors, or lower-tier usage rights. In that structure:
Later users may start from 100,000× General contributors may rise according to their contribution Pioneer-qualified Pi starts from 10,000,000× Top-tier Pioneer Pi may expand to 10,000,000 × 1.618 This prevents external capital from simply buying the historical rights of Pioneers.
------ 7. Compared with traditional finance, the fee-saving effect is enormous Assume that 1 Pi can process between 9.22 million and 92.28 million transactions.
If a traditional domestic bank transfer costs roughly 500 Korean won per transaction, then: 9.22 million transfers × 500 KRW = about 4.61 billion KRW 92.28 million transfers × 500 KRW = about 46.14 billion KRW
For international remittances, the difference becomes even larger.
If each international transfer is $100 and the average fee is 6.36%, then each transfer costs $6.36 in fees.
9.22 million transfers × $6.36 = about $58.66 million 92.28 million transfers × $6.36 = about $586.6 million
This shows the real meaning of the ultra-low-fee design. A single Pi priced externally at only $0.09228 may represent transaction-cost-saving capacity equivalent to tens of millions or even hundreds of millions of dollars in traditional finance. This is why the internal purchasing power of pure mined Pi can be interpreted very differently from exchange price. Exchange price measures external liquidity. Internal purchasing power measures the economic value of the infrastructure and contribution behind the network.
------ 8. The difference between traditional crypto and Pi
Traditional crypto has often followed this pattern:
Token issuance. Exchange listing. Price speculation. Liquidity hype. Utility promised later.
The Pi model appears to move in the opposite direction:
Identity first. Contribution first. KYC first. Nodes and apps first. Launchpad experiments. Business KYB. OUSD external settlement rail. $REF internal settlement token. Mined Pi as collateral. Enterprise, AI, robot, and human economic usage.
In other words, Pi does not start with price.
Pi starts with an economic operating system, then calculates internal purchasing power within that system.
From this perspective, speculative crypto becomes much weaker.
Tokens that cannot be used by enterprises, cannot be accounted for, are too volatile, have no settlement function, have no identity layer, have no collateral logic, and have no real utility may be pushed out of the center.
In KOSASIH’s language:
Volatility is a sin.
A token that enterprises cannot use cannot become the core unit of a future economic operating system.
------ 9. What Pioneers must understand
The key question is not:
“How much is Pi on the exchange?” The key question is: What rights does pure mined Pi carry inside the network? Exchange price is an external liquidity signal.
Pure mined Pi may represent something much deeper:
Identity-based contribution right. Core Vault collateral. $REF issuance basis. Launchpad participation right. Enterprise settlement collateral. Historical reward for building ultra-low-cost infrastructure. Internal purchasing power right.
Therefore, even if an outsider buys Pi on an exchange, that does not mean they automatically receive the same rights as a Pioneer.
Exchange Pi is a network usage asset. Pure mined Pi is a contribution-based economic right.
This distinction may become the core of Pi’s future economic design.
------ 10. Signals to watch next To see whether this strategic forecast becomes reality, Pioneers should watch for the following signals:
Whether Pi’s official KYB list expands to include Open Standard-related partners, payment companies, commerce companies, and financial institutions.
Whether OUSD appears in Pi Wallet, Pi Browser, Pi DEX, Launchpad, or Pioneer reward programs.
Whether $REF or a similar internal stable settlement token becomes official. Whether PiRC-101 or a similar monetary contract standard is reviewed, tested, or adopted.
Whether pure mined Pi and exchange-acquired Pi receive different internal accounting treatment.
Whether Pioneer qualification, lockup status, Pi Power, or QWF criteria are officially clarified.
Whether enterprises begin selling real goods and services through OUSD, $REF, or Pi-based settlement.
If these signals appear one by one, Pi may be reclassified from a simple cryptocurrency into a verified-human, ultra-low-cost economic operating system.
------------------------------------ Conclusion: Pioneers may have built an economic infrastructure, not merely a coin ------------------------------------
The Open Standard/OUSD announcement may be a major turning point for Pioneers.
It shows that global enterprises are building a stablecoin settlement network, and that network needs real users, merchants, wallets, apps, and identity.
Pi sits directly at that intersection.
Pi was misunderstood as a free mining app. But it may have been building a verified human network. Pi was misunderstood as a slow crypto project. But it may have been waiting for the moment when speculative crypto gives way to enterprise settlement. Pi was misunderstood as a coin. But it may be a contribution, identity, ownership, collateral, and settlement-based economic operating system. The simplest summary is this: Open Standard/OUSD may be the dollar settlement rail through which enterprises enter the Pi economy. Pi may be the verified human, contribution, and ownership network they are entering. Pure mined Pi may become the internal purchasing-power collateral asset of the Pioneers who built this ultra-low-cost economic infrastructure.
And in stronger terms:
Exchange-traded Pi may become the blood that carries external dollar liquidity into the network, while pure mined Pi may represent the Pioneer stake that built the body through which that blood can flow. https://x.com/applekhankorea/status/2105524942184009935
## @teddyP_xyz (Teddy) · 10-01 06:05 · ♥44 ↻11 💬5 When we first wrote to the SEC's Crypto Task Force in May 2025, tokenized RWAs were at $12.2B market, and stablecoins were at $233B.
Today, tokenized RWAs are at $38.8B, and stablecoins have grown to $306B.
Plume has been putting its views on tokenization in front of the SEC that entire time. Written input, a meeting with Task Force staff, House testimony, and most recently a framework on vaults (Much of it public).
Vaults have been part of that record from day one.
In our May 2025 letter, we proposed that registered investment companies use Plume Vaults, as the back-end for onchain open-end funds.
In his March 2026 testimony to the House Financial Services Committee, @banamlas urged the SEC to let registered funds hold assets through onchain vault architectures.
In July, Commissioner Peirce invited builders bringing asset management onchain to help shape new rules and guidance for vault protocols.
As the developer of Plume Vaults, we took her up on it. In September, we met with the SEC and sent the Task Force a framework recommending that vault regulation sit with the curator and the vault token product (depending on specific facts and circumstances), not the neutral protocol layer nor the vault administrator.
Plume was among the first to put onchain vaults forward to the SEC as a structure for tokenized funds and real-world assets.
Links to every document are below. If you ever are in DC and want to talk vaults, my DMs are open. https://x.com/teddyP_xyz/status/2105539631030645201
## @ETH_Daily (Ethereum Daily) · 10-01 05:00 · ♥41 ↻1 💬3 Ethereum Is Following Institutional Demand, Not Trends
SharpLink CEO Joseph Chalom says institutions want security, trust, and liquidity, "and Ethereum is dominating on all three.”
That makes sense when the trade size moves from millions to billions.
Institutions care less about saving a few cents on fees and more about: • Can the network stay secure? • Can a risk committee trust the infrastructure? • Can billions enter and exit without destroying liquidity?
Ethereum already has the strongest combination of these three.
• Security: Ethereum has operated continuously for more than a decade, with a large economic security base and a broad validator ecosystem.
• Trust: Major institutions are already building on Ethereum, from tokenized funds to stablecoins and ETFs. That creates a powerful network effect: each new institution sees less execution risk when the infrastructure is already proven.
• Liquidity: Ethereum remains deeply connected to stablecoins, RWAs, DeFi and L2s. For large players, deep liquidity matters because entering and exiting large positions can matter more than saving a few basis points on transaction fees.
And the most compelling part is the flywheel: More institutional capital → deeper liquidity → more trust → more capital.
Other chains can compete on speed.
Ethereum is competing to become the financial infrastructure institutions are comfortable building on.
That is a much bigger game. https://x.com/ETH_Daily/status/2105523100175741008