From Application Process to Fees: A Comparison of the Top Ten Crypto Payment Cards
As the global cryptocurrency infrastructure gradually matures, users' demand for the "real-world usability" of on-chain assets is also increasing. However, how to truly use on-chain assets in real life has always been a concern for crypto users. Crypto payment cards (also known as "U cards") have quietly risen in this context—they not only bridge the "last mile" of asset usage but also subtly reshape people's understanding of wallets, PayFi, and payment networks. Whether it is binding to mobi...
A Comprehensive Review of the High-Performance Public Chain MegaETH Ecosystem
Seed Round Funding of $20 Million, with Vitalik Participating—A Comprehensive Review of MegaETH Ecosystem Projects This article, compiled by @Mega_Ecosystem, provides a review of the MegaETH ecosystem projects as of January 2025. For each project listed, a brief description is provided. It is worth noting that in addition to the projects listed below, there are other projects within the MegaETH ecosystem that are still in the confidential stage. MegaMafia Projects MegaMafia is the 10x Builder...
AR.IO: An Emerging DePIN
One of the most promising narratives in the current cryptocurrency cycle is DePIN—Decentralized Physical Infrastructure Networks. The core of DePIN is community-driven infrastructure that leverages the power of the masses to improve centralized digital services. Based on this concept, AR.IO is poised to become an important part of the DePIN space, functioning as a data access protocol. Let's start with a broader perspective.Overview of the DePIN SpaceSince the early days of Helium, the applic...
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From Application Process to Fees: A Comparison of the Top Ten Crypto Payment Cards
As the global cryptocurrency infrastructure gradually matures, users' demand for the "real-world usability" of on-chain assets is also increasing. However, how to truly use on-chain assets in real life has always been a concern for crypto users. Crypto payment cards (also known as "U cards") have quietly risen in this context—they not only bridge the "last mile" of asset usage but also subtly reshape people's understanding of wallets, PayFi, and payment networks. Whether it is binding to mobi...
A Comprehensive Review of the High-Performance Public Chain MegaETH Ecosystem
Seed Round Funding of $20 Million, with Vitalik Participating—A Comprehensive Review of MegaETH Ecosystem Projects This article, compiled by @Mega_Ecosystem, provides a review of the MegaETH ecosystem projects as of January 2025. For each project listed, a brief description is provided. It is worth noting that in addition to the projects listed below, there are other projects within the MegaETH ecosystem that are still in the confidential stage. MegaMafia Projects MegaMafia is the 10x Builder...
AR.IO: An Emerging DePIN
One of the most promising narratives in the current cryptocurrency cycle is DePIN—Decentralized Physical Infrastructure Networks. The core of DePIN is community-driven infrastructure that leverages the power of the masses to improve centralized digital services. Based on this concept, AR.IO is poised to become an important part of the DePIN space, functioning as a data access protocol. Let's start with a broader perspective.Overview of the DePIN SpaceSince the early days of Helium, the applic...
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Aegis, an early-stage project, aims to build a stablecoin free from fiat dependencies, oracles, or permissioned collateral. Its bold approach: a Bitcoin-backed stablecoin. Here’s why its design could work.
A New Blueprint: Decentralized Stability via Bitcoin
While most stablecoins rely on centralized systems—fiat custody, bank settlements, regulatory oversight—Aegis rejects these Bitcoin-averse frameworks. Instead, it anchors its stablecoin YUSD to Bitcoin through perpetual short contracts, bypassing oracles, fiat reserves, and intermediaries.
Minting YUSD: Collateralized by Bitcoin, Stabilized by Shorts
YUSD is minted only when stablecoins like USDT, USDC, or DAI are deposited into Aegis’ smart contract. Once verified:
Collateral moves to secure vaults.
YUSD is issued, governed solely by code—no manual overrides.
The Engine: Perpetual Shorts as a Hedging Tool
Aegis’ end-to-end mechanism:
Users mint or swap stablecoins for YUSD.
Aegis converts funds to Bitcoin.
Opens perpetual short positions to hedge volatility.
Earns funding fees from long-side traders.
Distributes profits: part to insurance pools, part to YUSD holders.
This creates a self-reinforcing cycle where market demand fuels yield.
Profit Source: Funding Fees from Bitcoin Bulls
Aegis profits when Bitcoin perpetual traders pay funding fees (collected 3x daily). These fees—generated by bullish counterparties—are redistributed, avoiding inflation or staking gimmicks.
Passive Yield: Hold YUSD, Earn “Free Money” The process is frictionless:
Hold YUSD → Aegis captures fees → Snapshot rewards → Claim via app. As the team puts it: “It’s like free money falling from the sky.”
Risk Management: Insurance Fund for Negative Funding Rates
To counter risks when funding rates turn negative:
1-5% of profits fund an insurance pool.
Managed by multisig smart contracts (later transitioning to Aegis DAO).
Transparency by Design: Verifiable Reserves, Open Ledger
Aegis prioritizes visibility:
Reserve balances auditable on-chain.
Exchange positions publicly tracked.
Read-only APIs for real-time monitoring. No guesswork—users watch the system breathe.
Growth Flywheel: Aegis Points and Season 1 Multipliers Daily points (convertible to AEG tokens weekly) incentivize:
Holding YUSD: 15 points per $1 daily.
Liquidity Provision: 30 points per $1 (2x boost).
Euler Lending: 45 points per $1 (3x boost).
Social Tasks: 50 points per task (5x boost).
Season 1 offers a 50% bonus, rewarding early adopters. Advanced strategies (e.g., deposit → borrow → repeat) maximize yields.
The Big Question: Can Bitcoin-Backed Stability Scale? Aegis’ model—untethered from fiat or oracles—is one of Bitcoin’s clearest monetary experiments. Yet uncertainties linger:
Will it withstand extreme volatility?
Can adoption match its ambition?
For now, it stands as a bold reimagining of decentralized finance—one that lets Bitcoin itself underwrite stability.
Aegis, an early-stage project, aims to build a stablecoin free from fiat dependencies, oracles, or permissioned collateral. Its bold approach: a Bitcoin-backed stablecoin. Here’s why its design could work.
A New Blueprint: Decentralized Stability via Bitcoin
While most stablecoins rely on centralized systems—fiat custody, bank settlements, regulatory oversight—Aegis rejects these Bitcoin-averse frameworks. Instead, it anchors its stablecoin YUSD to Bitcoin through perpetual short contracts, bypassing oracles, fiat reserves, and intermediaries.
Minting YUSD: Collateralized by Bitcoin, Stabilized by Shorts
YUSD is minted only when stablecoins like USDT, USDC, or DAI are deposited into Aegis’ smart contract. Once verified:
Collateral moves to secure vaults.
YUSD is issued, governed solely by code—no manual overrides.
The Engine: Perpetual Shorts as a Hedging Tool
Aegis’ end-to-end mechanism:
Users mint or swap stablecoins for YUSD.
Aegis converts funds to Bitcoin.
Opens perpetual short positions to hedge volatility.
Earns funding fees from long-side traders.
Distributes profits: part to insurance pools, part to YUSD holders.
This creates a self-reinforcing cycle where market demand fuels yield.
Profit Source: Funding Fees from Bitcoin Bulls
Aegis profits when Bitcoin perpetual traders pay funding fees (collected 3x daily). These fees—generated by bullish counterparties—are redistributed, avoiding inflation or staking gimmicks.
Passive Yield: Hold YUSD, Earn “Free Money” The process is frictionless:
Hold YUSD → Aegis captures fees → Snapshot rewards → Claim via app. As the team puts it: “It’s like free money falling from the sky.”
Risk Management: Insurance Fund for Negative Funding Rates
To counter risks when funding rates turn negative:
1-5% of profits fund an insurance pool.
Managed by multisig smart contracts (later transitioning to Aegis DAO).
Transparency by Design: Verifiable Reserves, Open Ledger
Aegis prioritizes visibility:
Reserve balances auditable on-chain.
Exchange positions publicly tracked.
Read-only APIs for real-time monitoring. No guesswork—users watch the system breathe.
Growth Flywheel: Aegis Points and Season 1 Multipliers Daily points (convertible to AEG tokens weekly) incentivize:
Holding YUSD: 15 points per $1 daily.
Liquidity Provision: 30 points per $1 (2x boost).
Euler Lending: 45 points per $1 (3x boost).
Social Tasks: 50 points per task (5x boost).
Season 1 offers a 50% bonus, rewarding early adopters. Advanced strategies (e.g., deposit → borrow → repeat) maximize yields.
The Big Question: Can Bitcoin-Backed Stability Scale? Aegis’ model—untethered from fiat or oracles—is one of Bitcoin’s clearest monetary experiments. Yet uncertainties linger:
Will it withstand extreme volatility?
Can adoption match its ambition?
For now, it stands as a bold reimagining of decentralized finance—one that lets Bitcoin itself underwrite stability.
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