A lot of folks see USD1 listed on Binance futures and their first reaction is: oh, just another stablecoin trading pair.
But those who really understand derivatives are looking at something else: $USD1 has already started to snatch the position of 'exchange's underlying settlement currency'.
BTCUSD1 perpetuals going live is just the surface; it directly enters Portfolio Margin at the highest collateral tier.
This means that USD1 is not just a stablecoin to hold onto, but can be used directly as margin, as collateral, as the core asset of the liquidity pool. Whoever controls the collateral layer controls the entire liquidity entry point of the derivatives market.
Previously, stablecoins competed on 'who resembles the dollar more', but now it's about 'who can drive the trading system'.
The strategy with $WLFI is clearly not just about payments, but pushing $USD1 towards becoming the dollar operating system on-chain. While many are still analyzing coin prices, the real big money has already started to research 'which stablecoin will be used as the global trading base layer in the future'.
But those who really understand derivatives are looking at something else: $USD1 has already started to snatch the position of 'exchange's underlying settlement currency'.
BTCUSD1 perpetuals going live is just the surface; it directly enters Portfolio Margin at the highest collateral tier.
This means that USD1 is not just a stablecoin to hold onto, but can be used directly as margin, as collateral, as the core asset of the liquidity pool. Whoever controls the collateral layer controls the entire liquidity entry point of the derivatives market.
Previously, stablecoins competed on 'who resembles the dollar more', but now it's about 'who can drive the trading system'.
The strategy with $WLFI is clearly not just about payments, but pushing $USD1 towards becoming the dollar operating system on-chain. While many are still analyzing coin prices, the real big money has already started to research 'which stablecoin will be used as the global trading base layer in the future'.
