Trading is not just about watching K-line charts; you need to look at the bigger picture. The overall direction of policies and regulations often has a greater impact on a project's survival than technical analysis.

The background of the USD1 stablecoin is not simple — it is related to World Liberty Financial, which is associated with the Trump family. More importantly, last year, the U.S. Congress passed a series of bills related to stablecoins, including the "Guidance and Establishment of the U.S. Stablecoin National Innovation Act" and the "GENIUS Act," all of which are paving the way for compliant stablecoin development.

A core requirement of these bills is that for every dollar of stablecoin issued, there must be real assets backing it, such as actual cash or short-term government bonds. This may sound straightforward, but it has a huge impact — it effectively stamps the label of "real assets" on stablecoins, thoroughly solving the previous issue of credit uncertainty. Under this policy environment, USD1, as a dollar-pegged stablecoin, has received institutional endorsement.

Interestingly, many are beginning to consider that if stablecoins must be backed by U.S. Treasuries, then the entire stablecoin ecosystem could evolve into a new demand side for U.S. debt. This presents a significant imagination space.

ListaDAO sees this quite clearly. They started deeply integrating USD1 as early as 2025, incorporating it into their treasury, lending protocols, and new coin mining mechanisms. In this way, ListaDAO not only seized the liquidity opportunity of USD1 but also embedded itself into this potential "on-chain U.S. debt cycle." This kind of deep integration is, to some extent, a move in a very big game.