Major Event: The U.S. 'GENIUS Act' Passes in the Senate, the Stablecoin Industry Welcomes a 'Great Age of Exploration'

On May 20, the U.S. stablecoin legislation 'GENIUS Act' passed in the Senate vote, with only the House vote and submission for presidential signature remaining before it officially takes effect. Its formal approval is just a matter of time.

1/ Long-term outlook

The act brings regulatory clarity and compliance, benefiting the entire crypto industry;

Traditional financial institutions and giants may enter the field, and compliant dollar stablecoins will further intensify competition;

The dollar will continue to achieve global expansion on-chain (currently, the total amount of stablecoins accounts for only 1.1% of the dollar supply).

2/ For @levelusd, this is a significant benefit.

Firstly, unlike other yield-bearing stablecoins, $lvlUSD can only be minted through USDC or USDT, eliminating regulatory concerns (the GENIUS Act requires a mandatory 1:1 full asset collateral for stablecoins).

Secondly, Level, as the 'yield nesting layer' of stablecoins, will not compete with any future compliant dollar stablecoins, but can instead leverage its momentum for growth.

Currently, Level's TVL is $180 million, and compared to Ethena, there is a minimum growth potential of 30 times. The official team has also been working hard on integration, such as the recently launched Steakhouse USDC treasury, which is supported by Morpho's technology and aimed at strengthening the Level ecosystem.

Through this treasury, users can:

Earn USDC lending yields

Enjoy 5x Level XP acceleration rewards

Participation is recommended; it’s worth multiple attempts.

The great age of exploration for stablecoins is about to arrive; we are both witnesses and participants.