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Lorenzo Valente Comments on OpenUSD: Consortium Model Struggles to Shake the Dominance of USDC and USDT

WuSaidBlockchainW
Wusay learns that ARK Invest Research Director Lorenzo Valente is skeptical about the recently launched stablecoin alliance "OpenUSD," believing that such consortium models are difficult to scale and unlikely to challenge the market dominance of USDC and USDT. Valente points out that these projects face liquidity cold start issues and lack trading pairs with the existing mainstream crypto market; their internal governance structures are also questionable, with an alliance of 500 competing companies resulting in inefficient decision-making, lacking competitiveness compared to the model of Circle and Tether, which have a single decision-making entity capable of quickly responding to market changes. Additionally, Valente analyzes that OpenUSD's economic model leads to a lack of funding for its issuers, making it difficult to support the complex ecosystem rebate system like Circle's. He likens OpenUSD to a "DAO experiment," suggesting that "owned by everyone" often means "accountable to no one."
USDC-0.02%
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GateUser-c29c3db9
· 8h ago
Liquidity cold start is indeed an Achilles' heel; without trading pairs, it's like opening a store without shelves.
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GateUser-4c2c8c4b
· 8h ago
The consortium model hasn't even been figured out in TradFi, so can it work on-chain? The moats of USDC and USDT are built over time.
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Half-SectionSucculentPie
· 8h ago
500 competitors forming an alliance — by the time they finish all the meetings, the bull market will probably be over.
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