BitGo 計劃明年推出基於獎勵的 USDS 穩定幣

新加坡—BitGo 計劃明年推出美元支持的穩定幣，透過向機構提供獎勵，在擁擠的市場中脫穎而出

Crypto custody firm BitGo announced plans to introduce a dollar-backed stablecoin next year at Token2049 in Singapore.

加密貨幣託管公司 BitGo 宣布計劃明年在新加坡 Token2049 上推出美元支援的穩定幣。

The stablecoin, called USDS, will be backed by short-duration Treasury bills, overnight repos, and cash, like others on the market. However, BitGo is differentiating its stablecoin by offering rewards to institutions that provide liquidity to the network.

與市場上的其他穩定幣一樣，這種名為 USDS 的穩定幣將由短期國庫券、隔夜回購和現金支持。然而，BitGo 正在透過向為網路提供流動性的機構提供獎勵來使其穩定幣脫穎而出。

The stablecoin's value is pegged to the fiat currency to stabilize its price, making it a popular choice for crypto trading and providing most of the liquidity in decentralized finance (DeFi).

穩定幣的價值與法定貨幣掛鉤以穩定其價格，使其成為加密貨幣交易的熱門選擇，並提供去中心化金融（DeFi）的大部分流動性。

The biggest stablecoins are tied to the U.S. dollar, a market that's dominated by Tether's USDT, which has a market cap of about $119 billion. The No. 2, Circle's USDC, is about a third of the size.

最大的穩定幣與美元掛鉤，該市場由 Tether 的 USDT 主導，其市值約為 1190 億美元。位居第二的是 Circle 的 USDC，大小約為其三分之一。

BitGo's stablecoin will differ from its rivals with its rewards-based approach, which will incentivize institutions that are providing liquidity to the USDS network by distributing a portion of the returns generated from its reserves.

BitGo 的穩定幣將因其基於獎勵的方法而不同於其競爭對手，這將激勵透過分配其儲備產生的部分回報來向 USDS 網路提供流動性的機構。

“A stablecoin’s true value comes from the people using it, the liquidity they provide, and the access points for interchange,” said BitGo CEO Mike Belshe in an interview with CoinDesk before his keynote at Token2049.

「穩定幣的真正價值來自於使用它的人、它們提供的流動性以及交換的接入點，」BitGo 執行長 Mike Belshe 在 Token2049 發表主題演講之前接受 CoinDesk 採訪時表示。

According to Belshe, the company will generate some return from the cash being held in the underlying fund at the end of each month and pass it back to the participants on a pro-rata basis, based on their custody of the asset.

Belshe 表示，該公司將在每個月底從基礎基金中持有的現金中產生一些回報，並根據參與者對資產的託管情況，按比例將其返還給參與者。

This approach might sound like it is treading dangerously close to being a dividend and thus classifying the whole operation as an investment contract, but Belshe says the difference lies in that it's not distributing the proceeds to the end user, but rather to the institutions providing the liquidity.

這種方法聽起來可能危險地接近股息，從而將整個操作歸類為投資合同，但貝爾謝表示，區別在於，它不是將收益分配給最終用戶，而是分配給提供收益的機構。

Other stablecoins have tried creating yield-bearing stablecoins and rewarding end users. But as a compromise, they've needed to exclude the U.S. from the available markets.

其他穩定幣也嘗試過創建有收益的穩定幣並獎勵最終用戶。但作為妥協，他們需要將美國排除在可用市場之外。

“You end up with either the folks that opt into only the U.S. market, and then the folks that opt into only the non-U.S. market, like Mountain Protocol or Lift Dollar out of Dubai. They can't sell in the United States because they are a security,” said Belshe.

「最終要么是那些只選擇進入美國市場的人，要么是那些只選擇進入非美國市場的人，例如 Mountain Protocol 或 Lift Dollar from Dubai。它們不能在美國出售，因為它們是一種證券，」貝爾謝說。

BitGo plans to list USDS on all major exchanges and is targeting $10 billion in assets held within the stablecoin by this time next year.

BitGo 計劃在所有主要交易所上市 USDS，並計劃在明年此時穩定幣中持有的資產達到 100 億美元。