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On-chain asset backing, sounds good? Let's first look at the first item—"Supported by government bonds."
Feel free to mess around with your stablecoins, but don't try to use this kind of rhetoric to deceive and hype. That's my bottom line.
Projects like Ethena are not the first time encountering such issues. The crypto world is full of stablecoin products with all kinds of marketing tricks, but the actual mechanisms and real value support often differ greatly. What kind of design can truly ensure the transparency and security of decentralized finance? That is what’s worth exploring.