M^0 Labs 與 Fireblocks 合作為其發行人提供加密貨幣託管服務

M^0 使穩定幣發行者能夠以程式設計方式在用戶生態系統中分配收益，從而激勵經銷商和流動性提供者

M^0 (pronounced “M Zero”), a protocol that enables institutions to create their own stablecoins that are guaranteed by U.S. Treasury bills, has collaborated with Fireblocks to offer cryptocurrency custody services to its issuers. The collaboration will allow issuers to manage the private keys for their stablecoins within Fireblocks’ key-management system.

M^0（發音為「M Zero」）是一種協議，使機構能夠創建自己的由美國國庫券擔保的穩定幣，該協議已與 Fireblocks 合作，為其發行人提供加密貨幣託管服務。此次合作將允許發行者在 Fireblocks 的金鑰管理系統中管理其穩定幣的私鑰。

This integration is designed to streamline the process of managing cryptodollars, a type of stablecoin minted on the M^0 protocol. According to the announcement, firms utilizing M^0 will be able to use the private keys to transmit cryptodollars, carry out updates to collateral balances, retrieve and destroy tokens, and interact with other participants in the ecosystem.

此整合旨在簡化管理加密美元的流程，加密美元是一種基於 M^0 協議鑄造的穩定幣。根據該公告，使用 M^0 的公司將能夠使用私鑰傳輸加密美元、更新抵押品餘額、檢索和銷毀代幣，以及與生態系統中的其他參與者互動。

Crucially, this interaction includes validators, who are responsible for verifying the reserves that back the stablecoins. The companies stated that the keys now function seamlessly with Fireblocks’ key-management system.

至關重要的是，這種互動包括驗證者，他們負責驗證支援穩定幣的儲備。兩家公司表示，鑰匙現在可以與 Fireblocks 的鑰匙管理系統無縫運作。

Firms will be able to generate cryptodollar addresses, rotate keys, and perform other administrative tasks for their stablecoins through a single interface, thanks to the integration. According to M^0, this will save issuers time and effort while also increasing the security of their operations.

透過集成，公司將能夠透過單一介面生成加密美元地址、輪換密鑰並為其穩定幣執行其他管理任務。 M^0 表示，這將節省發行人的時間和精力，同時也提高其營運的安全性。

Institutions can create their own stablecoins with M^0, which are then fully backed by U.S. Treasury bills and overseen by a decentralized foundation. The protocol’s software is being developed by M^0 Labs.

機構可以用 M^0 創建自己的穩定幣，然後由美國國庫券全額支持並由去中心化基金會監督。該協議的軟體由 M^0 Labs 開發。

The protocol is gaining attention from institutions due to the increasing popularity of stablecoins. Tether (USDT) and Circle (USDC) are two of the most well-known stablecoin issuers, and their tokens have the largest and second-largest market capitalizations, respectively.

由於穩定幣的日益普及，該協議正在引起機構的關注。 Tether（USDT）和Circle（USDC）是兩個最著名的穩定幣發行商，它們的代幣分別擁有最大和第二大的市值。

Moreover, the success of these tokens has sparked a new generation of dollar-pegged tokens, many of which are also pegged to yield-generating securities like U.S. Treasury notes.

此外，這些代幣的成功催生了新一代與美元掛鉤的代幣，其中許多代幣也與美國國債等產生收益的證券掛鉤。

In the current models used by these stablecoins, the token holder either receives the interest payment or the issuer retains the entire yield. However, Prosperi claims that a more adaptable mechanism is required.

在這些穩定幣目前使用的模型中，代幣持有者要么收到利息，要么發行人保留全部收益。然而，Prosperi 聲稱需要一個更具適應性的機制。

According to Prosperi, M^0 enables protocol users to encase stablecoins in a manner that enables them to retain the entire yield or to engage in more intricate activities.

根據 Prosperi 的說法，M^0 使協議用戶能夠以某種方式封裝穩定幣，使他們能夠保留全部收益或參與更複雜的活動。

For example, they could distribute a portion of the yield to specific individuals based on their actions. He adds that this capability is crucial for creating more effective stablecoin ecosystems.

例如，他們可以根據特定個人的行為將一部分收益分配給他們。他補充說，這種能力對於創建更有效的穩定幣生態系統至關重要。

“There is no opportunity to incentivize distribution except through difficult paper-based marketing contracts, as there is no space between these two unintelligent solutions, where issuers either keep 100% of the yield or the other extremity, where holders keep 100% of the yield – even if they do not need to,” Prosperi explained.

「除非透過困難的紙本行銷合同，否則沒有機會激勵分配，因為這兩種不明智的解決方案之間沒有空間，發行人要么保留 100% 的收益率，要么持有者保留 100% 的收益率——即使他們不需要，」普羅斯佩里解釋道。

This technology enables issuers or holders of M to construct arbitrarily intricate logic to regulate the yield in order to promote their own ecosystem. This creates a diverse array of business models and opportunities that are entirely on-chain.

該技術使M的發行者或持有者能夠建立任意複雜的邏輯來調節收益率，以促進自己的生態系統。這創造了完全鏈上的多樣化商業模式和機會。

According to Prosperi, M^0 has amassed a float of approximately $30 million, which is currently over collateralized. Every 30 hours, reserves are independently validated on-chain. The service is not accessible to consumers in the United States.

據 Prosperi 稱，M^0 已積累了約 3000 萬美元的流通量，目前已超額抵押。每 30 小時，儲備金就會在鏈上進行獨立驗證。美國消費者無法使用該服務。