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Uma boa sexta feira para todos.
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Collateral-based Stablecoins
Having 100% collateral in the same currency and with a price obtained via trades is the most commonly used way to achieve parity of a Stablecoin with fiat currency.
In this model, the proposal is that the collateral – or backing, if you prefer – must at least be equivalent to the value of the tokens issued. If we have USD 100,000 as backing for this Stablecoin, we can only issue a maximum of 100,000 tokens. Thus, the idea is that if someone wishes to sell the tokens for USD, they will be able to receive at least the corresponding value, ensuring the 1:1 parity of the token with USD. If there is more collateral than tokens issued, this can even be perceived as an advantage, but it all depends on the nature of the collateral.
In this model, the proposal is that the collateral – or backing, if you prefer – must at least be equivalent to the value of the tokens issued. If we have USD 100,000 as backing for this Stablecoin, we can only issue a maximum of 100,000 tokens. Thus, the idea is that if someone wishes to sell the tokens for USD, they will be able to receive at least the corresponding value, ensuring the 1:1 parity of the token with USD. If there is more collateral than tokens issued, this can even be perceived as an advantage, but it all depends on the nature of the collateral.
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DeFi 2.0 e streaming de dinheiro
A história de DeFi (Decentralized Finance) nos últimos anos tem sido a de trazer para dentro do ambiente de Blockchain e cripto os produtos e serviços que já existem no mercado financeiro tradicional.
Soluções inovadoras foram desenvolvidas, combinando simplicidade e complexidade com um modelo de negócios focado no alinhamento de interesses. Um exemplo notável é a abordagem da Uniswap, que introduziu um sistema permitindo aos usuários criar e fornecer liquidez para diversos pares de negociação.
Soluções inovadoras foram desenvolvidas, combinando simplicidade e complexidade com um modelo de negócios focado no alinhamento de interesses. Um exemplo notável é a abordagem da Uniswap, que introduziu um sistema permitindo aos usuários criar e fornecer liquidez para diversos pares de negociação.
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Derivatives DEX – the future of derivatives exchanges?
As we explored earlier, DEX (Decentralized Exchanges) represent a crucial pillar in the DeFi universe, providing users with a decentralized means to exchange tokens among themselves. While this practice is already established in the spot market, i.e., the exchange of tokens for immediate delivery, I observe a considerable growth of initiatives involving the derivatives market.
This is important because today in the traditional financial market, the movement of derivatives is extremely relevant and in some market sectors greater than the movement we have in the spot market. One example is Brazil itself, with the formation of its future exchange rate of the dollar traded on B3. Another example comes from the BIS's triennial report, which states that, in April 2022, only the OTC (Over-the-Counter) interest rate derivatives market recorded a daily trading volume of $5.2 trillion.
This is important because today in the traditional financial market, the movement of derivatives is extremely relevant and in some market sectors greater than the movement we have in the spot market. One example is Brazil itself, with the formation of its future exchange rate of the dollar traded on B3. Another example comes from the BIS's triennial report, which states that, in April 2022, only the OTC (Over-the-Counter) interest rate derivatives market recorded a daily trading volume of $5.2 trillion.
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Stablecoins and DEX as a very efficient way to exchange
liquidity, let's now understand how this can change the foreign exchange market.
Nowadays, we have several stablecoins pegged to the dollar on public blockchains. This is great when we want to exchange more unstable tokens, like $BTC or $ETH , for something more stable that represents a fiat currency. But, if the idea is to perform exchange operations on DEX, it is essential to have representations of other currencies in this space.
Today this is one of the bottlenecks we still face. The second fiat currency, the euro, has very few initiatives and none with much traction. The first, in terms of issued tokens, is the Stasis Euro (EURS) with an issued value around USD 125 million, compared to over USD 60 and USD 40 billion issued of USDT and USDC, respectively. Although the issued value is a parameter, the best thing to look at here is liquidity, since even with small issued values, there can be a market where this asset circulates numerous times the issued value daily. This is also not the case. The traded volume of EURS hovers around USD 2 million per day, while USDC is around USD 4 billion.
Nowadays, we have several stablecoins pegged to the dollar on public blockchains. This is great when we want to exchange more unstable tokens, like $BTC or $ETH , for something more stable that represents a fiat currency. But, if the idea is to perform exchange operations on DEX, it is essential to have representations of other currencies in this space.
Today this is one of the bottlenecks we still face. The second fiat currency, the euro, has very few initiatives and none with much traction. The first, in terms of issued tokens, is the Stasis Euro (EURS) with an issued value around USD 125 million, compared to over USD 60 and USD 40 billion issued of USDT and USDC, respectively. Although the issued value is a parameter, the best thing to look at here is liquidity, since even with small issued values, there can be a market where this asset circulates numerous times the issued value daily. This is also not the case. The traded volume of EURS hovers around USD 2 million per day, while USDC is around USD 4 billion.
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DEX – futuro das Bolsas e corretoras?
Um pilar importante de DeFi são as DEX (Descentralized Exchanges, ou exchanges descentralizadas, em tradução livre). Uniswap e Curve são os principais expoentes aqui.
Vamos pegar a Uniswap como exemplo, cujo desafio que se colocava era: como possibilitar a criação de um marketplace de tokens, distribuído e totalmente transparente, de tal forma que fosse possível dentro da rede da Ethereum trocar todo e qualquer token por todo e qualquer token sem ter que ter um terceiro de confiança?
A abordagem
Vamos pegar a Uniswap como exemplo, cujo desafio que se colocava era: como possibilitar a criação de um marketplace de tokens, distribuído e totalmente transparente, de tal forma que fosse possível dentro da rede da Ethereum trocar todo e qualquer token por todo e qualquer token sem ter que ter um terceiro de confiança?
A abordagem
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#CryptoComeback The cryptocurrency return refers to the profits obtained by investing in cryptocurrencies, such as Bitcoin or Ethereum. These profits can come from price variations (increase in the value of the cryptocurrency) or, in some cases, from reward programs or staking, which offer returns in cryptocurrencies.
How cryptocurrency returns work:
Price variation:
The main factor influencing the return is the fluctuation of the cryptocurrency price in the market. When the demand for a cryptocurrency increases, the price tends to rise, generating profit for those who own it.
Reward/staking programs:
Some cryptocurrencies offer rewards or staking programs, where investors who hold their cryptocurrencies in a specific wallet (or on a staking platform) receive
additional returns in cryptocurrencies.
Profit on sale:
Profit is obtained when the cryptocurrency is sold for a price higher than the purchase price.
Important:
Risky investment:
The cryptocurrency market is volatile and subject to large price variations, which means that the investment can generate both profit and loss.
Income Tax Declaration:
Profits from cryptocurrencies (capital gains) need to be declared on the income tax.
Security:
It is essential to take security measures to protect your cryptocurrencies, such as using secure wallets and enabling two-factor authentication.
How cryptocurrency returns work:
Price variation:
The main factor influencing the return is the fluctuation of the cryptocurrency price in the market. When the demand for a cryptocurrency increases, the price tends to rise, generating profit for those who own it.
Reward/staking programs:
Some cryptocurrencies offer rewards or staking programs, where investors who hold their cryptocurrencies in a specific wallet (or on a staking platform) receive
additional returns in cryptocurrencies.
Profit on sale:
Profit is obtained when the cryptocurrency is sold for a price higher than the purchase price.
Important:
Risky investment:
The cryptocurrency market is volatile and subject to large price variations, which means that the investment can generate both profit and loss.
Income Tax Declaration:
Profits from cryptocurrencies (capital gains) need to be declared on the income tax.
Security:
It is essential to take security measures to protect your cryptocurrencies, such as using secure wallets and enabling two-factor authentication.
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#BTCBackto100K O bitcoin surpassed the mark of US$ 100 million for the first time in three months, after the President of the United States, Donald Trump, announced the first trade deal since his statement on tariffs on "Liberation Day".
Around 3:32 PM (Brasília time), bitcoin rose by 5.00%, priced at US$ 101.377.36. Ethereum rose by 13.7%, traded at US$ 2.059.73, according to data from Binance.
Around 3:32 PM (Brasília time), bitcoin rose by 5.00%, priced at US$ 101.377.36. Ethereum rose by 13.7%, traded at US$ 2.059.73, according to data from Binance.
kkk
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Crypto Loans – The Future of Banks?
To exemplify this, let's take MakerDao, which is a protocol that associates loans with the issuance of a Stablecoin.
Through MakerDao, you can deposit an asset (token), and based on that deposit, acquire a loan in dollars. For this, it uses the infrastructure of the Ethereum Blockchain, and for each deposited token, there is a predefined rule regarding how much you can borrow. It initially accepted deposits only in native Ethereum tokens (Ether), but soon expanded to accept various other tokens as deposits.
Through MakerDao, you can deposit an asset (token), and based on that deposit, acquire a loan in dollars. For this, it uses the infrastructure of the Ethereum Blockchain, and for each deposited token, there is a predefined rule regarding how much you can borrow. It initially accepted deposits only in native Ethereum tokens (Ether), but soon expanded to accept various other tokens as deposits.
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DEFI: SHOWING THE WAY AND THE ADVANTAGES OF TOKENIZATION
Around 2017, I came into contact with a Blockchain startup that claimed to revolutionize the financial market through a decentralized crypto Exchange, managed by the community and that would have a much better usability than any other. At that moment, I honestly didn't quite understand 'how' that would be done, but I saw that, once 'done', it could have an immense impact on the financial market.
This was my first contact with DeFi, (Decentralized Finance), or a set of platforms, applications, and protocols that simulate structures of the traditional financial market on public Blockchains like Ethereum and that, generally, have or intend to have, a distributed governance, where the community of users manages the platform.
This was my first contact with DeFi, (Decentralized Finance), or a set of platforms, applications, and protocols that simulate structures of the traditional financial market on public Blockchains like Ethereum and that, generally, have or intend to have, a distributed governance, where the community of users manages the platform.
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Binance reserve data reveals that holdings in BTC, ETH, and USDT exceed assets.
Binance published its latest proof of reserves data, confirming that the exchange continues to hold more digital assets than its customers in a majority of supported tokens.
The report, released on May 8, covers 37 crypto assets and highlights that Binance currently controls 616,886.378 Bitcoin (BTC), compared to customer net assets of 604,886.378 BTC.
This represents a coverage ratio of 102.06%, or a surplus of about $BTC 12,000 BTC.
The findings are part of Binance's ongoing transparency efforts following the collapse of FTX in 2022.
The report, released on May 8, covers 37 crypto assets and highlights that Binance currently controls 616,886.378 Bitcoin (BTC), compared to customer net assets of 604,886.378 BTC.
This represents a coverage ratio of 102.06%, or a surplus of about $BTC 12,000 BTC.
The findings are part of Binance's ongoing transparency efforts following the collapse of FTX in 2022.
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#StripeStablecoinAccounts Com este novo serviço , as empresas podem reter, receber e manter Stablecoin dos EUA , semelhante à maneira como uma conta bancária fiduciária tradicional funciona. ”
As contas suportarão o USDC e o USDB, um Stablecoin mais recente emitido pela Bridge, uma plataforma de empréstimos para StableCoins que Stripe adquiriu no início deste ano.
Essas contas de várias moedas permitem que os usuários mantenham fundos GBP, EUR e USD. Ao oferecer uma maneira mais segura de armazenar o valor, a empresa de serviços financeiros permite que as empresas - especialmente as de regiões com infraestrutura bancária frágil - transminem mais facilmente globalmente.
As contas suportarão o USDC e o USDB, um Stablecoin mais recente emitido pela Bridge, uma plataforma de empréstimos para StableCoins que Stripe adquiriu no início deste ano.
Essas contas de várias moedas permitem que os usuários mantenham fundos GBP, EUR e USD. Ao oferecer uma maneira mais segura de armazenar o valor, a empresa de serviços financeiros permite que as empresas - especialmente as de regiões com infraestrutura bancária frágil - transminem mais facilmente globalmente.
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#BTCBreaks99K O bitcoin (BTC) jumped between the night of last Wednesday (7) and the morning of this Thursday (8), approaching the psychological level of US$ 100 thousand. The optimism spread to the performance of the largest cryptocurrencies in the world, which are also rising today.
In the traditional market, Asian indices closed the day with gains, while European stocks and Wall Street futures are also trading higher this morning.
The optimism in risk asset markets gained strength mainly due to the announcement by the President of the United States, Donald Trump, last night about a relief regarding the trade war.
Although the official announcement is scheduled for 11 AM (Brasília time), there are media speculations that the United Kingdom is the country involved, as it is subject to the minimum tariff of 10% imposed by the US.
Additionally, the expectation of negotiations between China and the United States in Switzerland over the weekend also contributes to the market relief.
In the traditional market, Asian indices closed the day with gains, while European stocks and Wall Street futures are also trading higher this morning.
The optimism in risk asset markets gained strength mainly due to the announcement by the President of the United States, Donald Trump, last night about a relief regarding the trade war.
Although the official announcement is scheduled for 11 AM (Brasília time), there are media speculations that the United Kingdom is the country involved, as it is subject to the minimum tariff of 10% imposed by the US.
Additionally, the expectation of negotiations between China and the United States in Switzerland over the weekend also contributes to the market relief.
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Could tokenization lead to a merger between currency and interest?
Current technology enables the traditional functions of currency – medium of exchange, store of value, and unit of account – to no longer need to be strictly separated to be effective. This evolution has the potential to revolutionize the entire global financial system. I explain.
As we have currencies represented in Blockchains, that is, tokenized, the use of a certain token representative of this currency that incurs interest for everyday use is an alternative that appears and changes much of the structure and allocation of resources.
As we have currencies represented in Blockchains, that is, tokenized, the use of a certain token representative of this currency that incurs interest for everyday use is an alternative that appears and changes much of the structure and allocation of resources.
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Currency and Payment
Payment, as we have seen, is one of the main functions of currency, and understanding how this environment is transforming is essential. What can we expect going forward? What differences exist between numerous countries/regions? These are topics addressed annually by the GPR (Global Payments Report) from Worldpay from FIS6, a reference report in this market that is produced annually.
The 2023 report brought the following trends as the main payment trends for the coming years: 'Peer-to-peer' payments are growing, anchored by instant payment systems. The implementation of Open Banking and Data Protection Laws in several countries in recent years addresses the two major obstacles for this to occur, namely the security and privacy of payments. Examples in this regard are the LGPD and Open Banking, or in the Brazilian case, Open Finance, which has already been properly implemented.
The 2023 report brought the following trends as the main payment trends for the coming years: 'Peer-to-peer' payments are growing, anchored by instant payment systems. The implementation of Open Banking and Data Protection Laws in several countries in recent years addresses the two major obstacles for this to occur, namely the security and privacy of payments. Examples in this regard are the LGPD and Open Banking, or in the Brazilian case, Open Finance, which has already been properly implemented.
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The digitization of money and data security
Digital security does not arise with digital currencies. It is already a topic in any market segment that has some presence in the digital field.
Speaking of the financial market, this is a constant concern and reason for significant investments by banks, brokers, regulators, and Central Banks. I do not believe there is any banking institution today where this topic is not on the agenda.
It is a concern, and everyone has it resolved. Although there have been data leaks of customers, which is very serious, I am not aware of cases where a major banking institution has been hacked resulting in the total loss of funds for all its clients. This contrasts with what has already happened with some cryptocurrency exchanges, with MtGox in Japan being one of the most notorious examples.
Speaking of the financial market, this is a constant concern and reason for significant investments by banks, brokers, regulators, and Central Banks. I do not believe there is any banking institution today where this topic is not on the agenda.
It is a concern, and everyone has it resolved. Although there have been data leaks of customers, which is very serious, I am not aware of cases where a major banking institution has been hacked resulting in the total loss of funds for all its clients. This contrasts with what has already happened with some cryptocurrency exchanges, with MtGox in Japan being one of the most notorious examples.
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