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JacobZhaoA Comprehensive Guide to Stablecoin Yield Strategies
Written by Jacob Zhao | Follow on Twitter: @0xjacobzhao The crypto market has shown significant volatility recently, and conservative, steady yields are once again in demand. Drawing from my own investment insights over the past few years, as well as focused research into the stablecoin space conducted at the end of last year, I’d like to revisit the age-old but evergreen topic of Stablecoin Yields. Currently, the main categories of stablecoins in the crypto market can be grouped as follows:C...
JacobZhao稳定币收益指南
近期加密市场乏善可陈，保守稳健的收益再次成为市场需求，因此结合自己近些年的投资心得及去年底对稳定币领域的集中研究成果，谈一谈稳定币收益这个古老但长青的话题。 当前加密市场的稳定币类别主要为以下几大类：有条件合规但市占率最高的USDT：应用场景足够广(交易所币种交易对、加密行业公司发薪、真实国际贸易与线下支付场景)，用户寄希望于大而不能倒且Tether具有兜底能力。与法币1:1锚定的合规稳定币：USDC有最多链及应用场景支持是真正的链上美元，而PayPal USD、BackRock USD等其他合规稳定币的应用场景都有一定局限性。超额抵押稳定币：以MakerDAO的DAI及其升级为Sky Protocol后的USDS为主；Liquity 的LUSD以0抵押借贷利率和110%的低质押率的微创新成为竞品之一。合成资产稳定币：本轮周期以现象级的Ethena的USDe最具有代表性。其资金费率套利获取收益的模式亦是本文随后会重点分析的稳定币收益模式之一。底层资产为美债的RWA项目稳定币：本轮周期以Usual的USD0和Ondo的USDY最具有代表性。而Usual的**USD0++**为美债提...
JacobZhaoCysic Research Report: The ComputeFi Path of ZK Hardware Acceleration
Zero-Knowledge Proofs (ZK) — as a next-generation cryptographic and scalability infrastructure — are demonstrating immense potential across blockchain scaling, privacy computation, zkML, and cross-chain verification. However, the proof generation process is extremely compute-intensive and latency-heavy, forming the biggest bottleneck for industrial adoption. ZK hardware acceleration has therefore emerged as a core enabler. Within this landscape, GPUs excel in versatility and iteration speed, ...
<100 subscribers
JacobZhaoA Comprehensive Guide to Stablecoin Yield Strategies
Written by Jacob Zhao | Follow on Twitter: @0xjacobzhao The crypto market has shown significant volatility recently, and conservative, steady yields are once again in demand. Drawing from my own investment insights over the past few years, as well as focused research into the stablecoin space conducted at the end of last year, I’d like to revisit the age-old but evergreen topic of Stablecoin Yields. Currently, the main categories of stablecoins in the crypto market can be grouped as follows:C...
JacobZhao稳定币收益指南
近期加密市场乏善可陈，保守稳健的收益再次成为市场需求，因此结合自己近些年的投资心得及去年底对稳定币领域的集中研究成果，谈一谈稳定币收益这个古老但长青的话题。 当前加密市场的稳定币类别主要为以下几大类：有条件合规但市占率最高的USDT：应用场景足够广(交易所币种交易对、加密行业公司发薪、真实国际贸易与线下支付场景)，用户寄希望于大而不能倒且Tether具有兜底能力。与法币1:1锚定的合规稳定币：USDC有最多链及应用场景支持是真正的链上美元，而PayPal USD、BackRock USD等其他合规稳定币的应用场景都有一定局限性。超额抵押稳定币：以MakerDAO的DAI及其升级为Sky Protocol后的USDS为主；Liquity 的LUSD以0抵押借贷利率和110%的低质押率的微创新成为竞品之一。合成资产稳定币：本轮周期以现象级的Ethena的USDe最具有代表性。其资金费率套利获取收益的模式亦是本文随后会重点分析的稳定币收益模式之一。底层资产为美债的RWA项目稳定币：本轮周期以Usual的USD0和Ondo的USDY最具有代表性。而Usual的**USD0++**为美债提...
JacobZhaoCysic Research Report: The ComputeFi Path of ZK Hardware Acceleration
Zero-Knowledge Proofs (ZK) — as a next-generation cryptographic and scalability infrastructure — are demonstrating immense potential across blockchain scaling, privacy computation, zkML, and cross-chain verification. However, the proof generation process is extremely compute-intensive and latency-heavy, forming the biggest bottleneck for industrial adoption. ZK hardware acceleration has therefore emerged as a core enabler. Within this landscape, GPUs excel in versatility and iteration speed, ...
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