法典，USDC和Stablecoins：一个新时代？

探索法典的兴起及其对USDC Stablecoin生态系统的潜在影响。 Codex是Stablecoins的未来吗？

The stablecoin world is buzzing, and Codex is making waves. Let's dive into the latest developments around Codex, USDC, and the future of stablecoins.

Stablecoin世界正在嗡嗡作响，而法典正在浪潮。让我们深入了解Codex，USDC和Stablecoins的未来的最新发展。

Codex: The New Kid on the Block(chain)

法典：街区上的新孩子（链）

Codex, a public chain focused on stablecoins, recently launched native USDC minting, becoming the youngest chain to do so. Backed by a $15.8 million seed round led by Dragonfly Capital (with Coinbase and Circle participating), Codex aims to solve the infrastructural issues that plague stablecoin development.

Codex是一家专注于Stablecoins的公共连锁店，最近推出了本地USDC铸币厂，成为最年轻的连锁店。在由Dragonfly Capital（Coinbase and Circle参加）领导的1580万美元种子回合的支持下，Codex的目标是解决困扰Stablecoin Development的基础设施问题。

Why Circle is Paying Attention

为什么要注意

Traditional blockchain infrastructure often clashes with the uniformity needed for an ideal currency. Issuers currently face tedious and redundant tasks like obtaining licenses, opening bank accounts, and building deposit/withdrawal channels. Codex wants to solve these headaches at the chain level. They are diving deep into fiat currency exchange services and cutting-edge blockchain research to achieve T+0 wholesale foreign exchange and atomic withdrawal channels.

传统的区块链基础设施通常与理想货币所需的统一性冲突。发行人目前面临繁琐而多余的任务，例如获得许可证，开设银行帐户以及建筑存款/提款渠道。 Codex希望在链级上解决这些头痛。他们深入研究法定货币兑换服务和尖端的区块链研究，以实现T+0批发外汇和原子提取渠道。

Codex's Game Plan

法典的游戏计划

Codex aims to provide an on-chain trading platform for institutional clients, offering instant settlement and exchange services between fiat currencies and stablecoins at wholesale prices. Imagine a world where compliance checks happen during transactions, not after, preventing those dreaded account freezes. That's what Codex is shooting for with their atomic withdrawal channel, slated for Q4 2025. Also on the horizon is risk-free fiat currency redemption, addressing the unreliability and inefficiency often found in emerging markets.

Codex的目的是为机构客户提供一个链交易平台，以批发价格提供法定货币和稳定货币之间的即时和解和交换服务。想象一个世界，即在交易期间而不是之后发生合规性检查，以防止那些可怕的帐户冻结。这就是Codex通过其原子撤回渠道拍摄的，该渠道定于第四季度2025。也是无风险的法定货币赎回，解决了新兴市场中经常发现的不可靠性和效率低下的问题。

A Word of Caution: Circle's Wild Ride

注意：Circle的疯狂骑行

While Codex is generating excitement, it's worth noting the recent volatility surrounding Circle (CRCL), the issuer of USDC. After a meteoric rise following its public offering, Circle's stock took a tumble, triggered by analyst downgrades and concerns about valuation and increased competition. The GENIUS Act, while positive for regulatory clarity, could also open the door for more stablecoin issuers, challenging Circle's dominance. Analysts are also pointing to Circle's reliance on interest income and distribution partnerships, which could create margin pressure.

虽然法典正在引起兴奋，但值得注意的是，USDC的发行人最近围绕Circle（CRCL）的波动率。在公开募股之后，迅速升高后，Circle的股票跌倒了，分析师降级以及对估值和竞争增加的担忧引发。 《天才法案》虽然对监管的清晰度有利，但也可能为更多的稳定发行人打开大门，这挑战了Circle的主导地位。分析师还指出，Circle对利息收入和分配合作伙伴关系的依赖，这可能会造成保证金压力。

The Bigger Picture: Stablecoins are Hot

更大的情况：稳定币很热

Despite Circle's stock fluctuations, the overall interest in stablecoins remains high. Plasma, a Bitcoin sidechain compatible with the Ethereum Virtual Machine (EVM), recently raised a whopping $500 million in a token sale, demonstrating the strong investor appetite for blockchain infrastructure optimized for stablecoin transactions. This interest highlights the demand for scalable and cost-effective solutions for stablecoins.

尽管Circle的库存波动的波动，但对稳定菌的总体兴趣仍然很高。等离子是与以太坊虚拟机（EVM）兼容的比特币Sidechain，最近在代币销售中筹集了高达5亿美元的$ 5亿美元，这表明了针对Stablecoin交易优化的区块链基础设施的强烈投资者胃口。这种兴趣凸显了对稳定币对可扩展性和成本效益的解决方案的需求。

The Future is...Stable?

未来是...稳定吗？

Codex is addressing real pain points in the stablecoin ecosystem, but faces competition from other stablecoins. Only time will tell if Codex can deliver on its promises and truly become the future of stablecoins. But one thing's for sure: the stablecoin space is about to get a whole lot more interesting.

Codex正在解决Stablecoin生态系统中的真实疼痛点，但面临其他Stablecoins的竞争。只有时间才能证明法典是否可以兑现其承诺，并真正成为Stablecoins的未来。但是可以肯定的是：Stablecoin空间即将变得更加有趣。

So, buckle up, folks! The wild west of crypto is still being paved, and Codex is one of the companies trying to lay down some solid, stable ground.

所以，搭扣，伙计们！加密货币的野外西部仍在铺路，而法典是试图奠定稳固，稳定的基础的公司之一。