CoinDesk reported on November 4 that $OUSD’s management fee is set at 0.1 basis points of payment volume, capped at $0.01 per transaction. The fee goes to operator Open Standard, so the payment layer barely makes any money.
The issuers of $USDT and $USDC keep the interest earned on their reserves. OUSD distributes reserve earnings after management fees to its partners, then allocates equity based on holdings and transaction volume. The threshold is $50 million, and no single partner can receive more than 5%. The five founding partners have pledged to provide over $1 billion in liquidity during the launch phase.
What this design is really selling isn’t cheap transfers, but giving seigniorage to the channels: whoever brings in the flow of funds gets a share of the interest and equity. The $50 million threshold will screen out smaller players. How many partners qualify will say more about whether the model works than the fee rate.
#稳定币 #OUSD #ReserveYield
The issuers of $USDT and $USDC keep the interest earned on their reserves. OUSD distributes reserve earnings after management fees to its partners, then allocates equity based on holdings and transaction volume. The threshold is $50 million, and no single partner can receive more than 5%. The five founding partners have pledged to provide over $1 billion in liquidity during the launch phase.
What this design is really selling isn’t cheap transfers, but giving seigniorage to the channels: whoever brings in the flow of funds gets a share of the interest and equity. The $50 million threshold will screen out smaller players. How many partners qualify will say more about whether the model works than the fee rate.
#稳定币 #OUSD #ReserveYield