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Gate.io News: In a long post, Circle CEO said that stablecoin networks are long-term platform-style businesses, and USDC’s network effects are difficult to replicate. USDC has built strong competitiveness through a multi-layer ecosystem, liquidity, and compliance frameworks, and has been integrated by tens of thousands of services. Artemis data shows that in the first quarter of 2026, USDC’s on-chain transactions were nearly $30 trillion, accounting for 80%, while other dollar-pegged stablecoins have a very low share. Regarding OUSD’s free minting/redemption and revenue sharing, Circle said market realities are complex and require contract mechanisms, because handling an alliance model through contracts is less efficient; for win-win cooperation, it needs to be smaller and tighter.