The holiday is over, and all the casual talks have been finished. Starting today, I will write several research articles in a row, including in-depth analyses and exclusive revelations. Of course, there will be more of my subjective opinions, so if you haven't followed yet, hurry up and start paying attention.

In recent days, a hot topic has been the decoupling of USD1, and I would like to share my views on this.

The cause of the matter is that someone monitored Trump's son Eric deleting a tweet related to USD1, and then wlfi also began deleting related content. Additionally, on-chain detectives said they would expose insider trading of a company, and it seems that all the arrows have pointed towards USD1 in a short period.

Then Juzi also saw many people in the community spreading that USD1 is about to explode, and in a short period, USD1 dropped about 2 points, which was seen as a decoupling, a very dangerous signal.

But from Juzi's perspective, there is absolutely no need to panic. I have held USD1 and have been earning interest, but since last year, many people have been worried or even bearish on USD1, expressing that they cannot understand it at all.

Because from Juzi's perspective, if you can understand USD1, you actually grasp the entire underlying logic of web3.

First, you need to understand who issued this coin. If Trump is waving flags and shouting about cryptocurrency, constantly releasing good news and new policies, and then his own USD1 collapses, do you think such a thing could happen under the American system?

Those who are bearish might not understand the importance of USD1 to the Trump family. Trump is very aware that after his term ends, he might face abandonment and liquidation, so he needs to find a golden bowl for his family. USD1 and wlfi share the same logic; they do not directly use their power to amass wealth but instead create industrial policies that turn their projects into assets. This way, even if the old man steps down, projects that have already secured a stable position in the market can continue to attract capital.

So even if you are bearish on USD1 after Trump leaves office, doing so at this time will only expose your intelligence.

Next, you need to see who the partners of USD1 are.

The collaboration between Circle and Coinbase has actually set a precedent for other stablecoin issuers, so USD1 follows the same model, binding USD1 with the world's largest cryptocurrency exchange to conduct issuance, directly expanding the use cases and market share of stablecoins.

At the same time, the Trump family also has shares in Binance, which makes the situation very comfortable. At least they don't have to pay large profits to Coinbase like USDC; instead, Binance will do its utmost to promote USD1's market share to maintain a good relationship with the presidential family.

So a few months ago, Juzi also wrote an article saying that USD1 would become the third-largest stablecoin. Currently, its market capitalization is $5 billion, very close to the third position.

Third, just a few days ago, a clear version of the latest proposal was released, with stablecoin issuers and banks making some concessions. The latest situation is as follows:

1, prohibits earning interest on held coins; passive holding of stablecoins will no longer earn interest.

2, but activity-based rewards can still be necessary, requiring holders to actively participate in activities.

3, if violated, a fine of $500,000 per day.

The reason banks are so reluctant to allow stablecoins to earn interest is that issuers like USDC are directly snatching dollar currency from traditional banks with an annual interest rate of 3.5%.

The past portion of interest income belonged to banks. Now, after the stablecoin proposal, it will directly enable users to withdraw money to buy stablecoins and earn interest, which is something banks find it hard to accept.

After explaining this background, you will find that USD1 is in a very delicate position.

First, USD1 itself does not earn interest on held coins. Considering Binance's activities, you should know he is distributing wlfi from holding USD1, with an annualized yield of nearly 14%.

Have you noticed that while all stablecoins are still arguing over the proposal, USD1 has actually taken a lead with one version ahead of them?

Because most stablecoin issuers only have one stablecoin, while USD1 has long been operating with stablecoins in one hand and wlfi in the other, giving A to B, which is completely compliant.

The result after your argument is nothing more than this, while I have already started this way and the annualized yield is the highest. Who supports you and who opposes you?

If you see this layer, you won't panic at all, nor will you be bearish on USD1. Currently, the overall returns are still acceptable, and because it is distributed based on the coin, if wlfi can rise later, the annualized return will actually be higher.

This is also why Juzi said, if you understand USD1, then you understand the underlying logic of web3.

Because you know who the real players at the table are, you know what the latest gameplay is, and you know where the upcoming trends will go.

The current industry landscape has completely changed; technology, innovation, and even capital have become irrelevant. Political resources are now the top tier in the industry, with everyone forming strong alliances to seize territory.

The collaboration between stablecoins and exchanges is strengthening, and everyone hopes that a deeper interest binding can maintain their competitiveness in the future.

As for you, my friend, what else can you do besides losing money?