After Circle's recent rise, a lot of smart money has flowed into the stablecoin sector, and Resolv emerged as an innovative project during this time. It introduced a stablecoin called USR, using ETH and BTC as collateral, and stabilized its price through a delta-neutral strategy using perpetual contracts to hedge against volatility, making it more resilient to risks compared to traditional stablecoins and less likely to decouple.

The project's highlights are quite impressive: USR is a rare delta-neutral architecture stablecoin that addresses the issue of insufficient collateral in traditional stablecoins through hedging operations; the liquidity pool RLP has stable yields, like Spectra's wstUSR/PT-wstUSR pool, with a base annualized return of 13%, which can soar to 42% with added incentives; it also supports BTC strategies and multi-chain deployment, and has collaborated with mainstream DeFi protocols like Usual and Balancer, demonstrating strong ecosystem expansion capabilities.

Currently, the on-chain locked value (TVL) is $350 million, with over 50,000 users, having distributed over $10 million in earnings, and minting and redemption scales reaching $1.7 billion. The total token supply is 1 billion, with an initial circulation of about 10%. Taking the leading stablecoin ENA as a reference (FDV $5 billion, TVL $5.9 billion), if Resolv can achieve even one-tenth of its market value, there is significant growth potential. Generally, new projects have low valuations right after issuance, and with the pressure of airdrop sell-offs, it becomes an opportunity to buy at a discount; if FDV drops below $200 million, it could be worth considering.