DeFi

Velvet’s Intent-Based Trading is an intent-driven trading mechanism. Users only need to express their desired outcome, such as buying an asset, adjusting a portfolio, or executing a specific strategy, and the system automatically finds the best execution path and completes the trade. Unlike traditional DeFi trading, where users must choose the trading route themselves, Velvet combines AI Agents, Solver networks, and liquidity aggregation to turn complex on-chain operations into simple goal-based instructions, lowering the barrier to use and improving execution efficiency.

Lorenzo Protocol and Solv Protocol are both important projects in the Bitcoin Yield sector, but their core positioning is different. Lorenzo Protocol mainly builds its ecosystem around Bitcoin native staking and Bitcoin Liquidity Finance, using assets such as stBTC and YAT to connect BTC yield with DeFi applications. Solv Protocol, by contrast, places greater emphasis on yield aggregation and asset standardization, integrating BTC yield strategies from different sources through the SolvBTC system.

stBTC, enzoBTC, and YAT are the three core assets used by Lorenzo Protocol to build its Bitcoin Liquidity Finance (BLF) ecosystem, but they serve different functions. stBTC mainly represents liquid staking rights after participating in Bitcoin native staking, enzoBTC focuses on cross ecosystem BTC liquidity and asset mapping, while YAT represents future yield rights generated by the underlying asset. Together, the three form key infrastructure that helps Lorenzo connect Bitcoin’s security layer, liquidity layer, and yield layer.

Lorenzo Protocol enables BTC to earn staking yield while retaining on-chain liquidity by integrating Babylon’s native Bitcoin staking network, liquid staking assets (LSTs), and yield tokenization. After users deposit BTC, the protocol connects the assets to the underlying staking system and issues corresponding liquid staking assets, allowing users to continue participating in DeFi activities such as lending, liquidity mining, and yield management.

Lorenzo Protocol (BANK) is a liquidity finance infrastructure built for the Bitcoin ecosystem. By combining Bitcoin native staking, liquid staking assets (LSTs), and yield tokenization, it turns BTC from a passively held asset into an on-chain asset that can generate yield and participate in DeFi applications. Built on the Bitcoin security model provided by Babylon, the protocol introduces products such as stBTC, enzoBTC, and yield certificates, offering Bitcoin holders solutions for liquidity management and yield generation.

UUSD is a Stablecoin network purpose-built for the AI economy and digital finance, delivering a unified infrastructure that integrates Stablecoin issuance, liquidity management, and on-chain settlement for issuers, liquidity providers, developers, and applications. Unlike traditional Stablecoins that primarily act as value carriers, UUSD places greater emphasis on network-layer development, allowing Stablecoins to flow efficiently across diverse applications, markets, and payment scenarios.

The operational process of UUSD involves issuers, liquidity providers, the application ecosystem, and market participants. Unlike traditional stablecoins that depend on independent issuance and segregated liquidity building, UUSD leverages shared liquidity and a unified settlement network to bring stablecoins to market more efficiently and achieve widespread adoption. Within the UUSD network, stablecoin issuers can access unified infrastructure for liquidity support, application developers can quickly integrate payment and settlement features, and users create ongoing demand through trading, payments, and on-chain activities.

The fundamental distinction between UUSD and USDT lies in their respective positioning levels. USDT is a stablecoin issued by a centralized entity and backed by USD-denominated reserves, functioning primarily as a store of value, a means of payment, and a medium of exchange. UUSD, in contrast, is a network infrastructure built around stablecoin issuance, liquidity, and settlement, designed to serve as a unified monetary layer for the AI economy, digital markets, and on-chain finance.

CASH is an open stablecoin backed by U.S. dollar reserve assets, designed to serve as a stable medium of exchange for payments, transfers, and digital finance applications. Unlike traditional stablecoins, which retain all returns for the issuer, CASH distributes a portion of its economic yield to developers, wallets, and ecosystem partners through a revenue-sharing mechanism, fostering a more open growth model.

The issuance and circulation of CASH are backed by a fiat reserve mechanism. When a compliant institution receives the corresponding dollar assets, the system issues CASH at a 1:1 ratio and injects it into wallets, payment platforms, or application ecosystems. When users perform transfers, payments, or fund settlements, CASH circulates on the blockchain network. When users request redemption, the corresponding tokens are burned, and the reserve assets return to the traditional financial system.

CASH is a USD-pegged stablecoin built on an open Rendite-sharing model. Its defining feature is that, while preserving full fiat reserve backing and a stable dollar peg, it allocates a portion of the income generated from reserve assets to developers, wallet service providers, and ecosystem partners. In contrast to traditional stablecoins, where the issuer exclusively retains reserve Rendite, CASH aims to accelerate stablecoin network growth through a more inclusive value distribution framework.

CASH and USDC are both stablecoins backed by U.S. dollar reserve assets, using issuance and redemption mechanisms to maintain their peg to the dollar. However, they differ significantly in business model and ecosystem design. USDC represents the traditional stablecoin model, where reserve earnings accrue primarily to the issuing institution. In contrast, CASH adopts an Open Stablecoin model, allocating a portion of its earnings to developers, wallets, and ecosystem partners.

Both CASH and USDT are fiat-backed stablecoins pegged to the value of the US dollar, yet their core objectives differ markedly; USDT is primarily designed for digital asset trading, focusing on liquidity, trade settlement, and cross-platform interoperability, while CASH emphasizes payment infrastructure development, leveraging an open revenue-sharing model to connect wallets, developers, and payment platforms, thereby driving stablecoin adoption in real-world transactions.

Polygon first rose to prominence for addressing Ethereum's high gas fees, but its focus has since evolved well beyond a simple Layer 2 scaling solution. Spanning DeFi, NFTs, stablecoin payments, and institutional finance, Polygon is steadily building a more comprehensive Web3 infrastructure ecosystem.

The Babylon ecosystem is a blockchain infrastructure network built around Bitcoin Staking and shared security. Its core goal is to extend the economic security of Bitcoin to more PoS networks, appchains, and modular blockchains. The ecosystem includes multiple components, such as Babylon Genesis, Finality Providers, Bitcoin Security Network (BSN), liquid staking protocols, Bitcoin Layer 2 projects, and Cosmos appchains.