Celestia may abandon PoS in favor of PoG, reshaping the Token economy.

[Coin World] This week, we will kick off with a series of charts focusing on the political market on a certain trading platform, the unstoppable rise of Maple’s SyrupUSDC, and Celestia’s ambitious proposal to abandon attestation.

a certain trading platform political market In the recent geopolitical conflicts, a certain trading platform has once again become the focus of people’s attention. In the past week, the market trading volume in the “Politics” category surged from 3.9 million USD to 19.5 million USD, as shown by the light blue bar in the chart below.

Everyone’s attention is focused on “Will the US take military action against Iran before July?” The contract was settled yesterday after reports of the US attacking Iranian nuclear facilities. The total trading volume in the market was $29.9 million.

Just before the market soared to nearly 99%+ certainty, the trading price of the “yes” stocks in the market was $0.59, indicating that the market expected the likelihood of U.S. military action against Iran to be about 59%.

Governance of Celestia John Adler, co-founder of Celestia, believes in an ambitious new governance proposal that Celestia should abandon attestation consensus and adopt “Proof of Governance” (PoG).

If approved, the following significant changes will be implemented: The issuance of TIA will be reduced by about 20 times, or 95%. Delegated staking and liquid staking contracts will be gradually phased out. There will no longer be on-chain governance. All TIA issuances will be distributed to validators solely as rewards for running nodes. Validators will be selected through off-chain governance, as Celestia lacks general execution capabilities and is not suitable for supporting on-chain token voting. Network fees will be burned as a form of value accumulation for TIA token holders. The protocol fees for Celestia range from 100 USD to 300 USD daily.

TL;DR: Reduce the continuous emission of Celestia to avoid its price decline (see chart).

This proposal challenges many common “wisdoms” of Ethereum thought, such as where the “economic security” of the chain comes from (not from cuts), framing PoS as a truly permissioned “attestation”, and how to consider “blockchain profitability”. It is expected that die-hard Ethereum fans will be enraged.

SyrupUSDC rise Maple’s yield stablecoin SyrupUSDC currently has a market cap of 780 million USD, making it the fastest rising stablecoin this year.

Users deposit USDC into the platform and then use it to issue over-collateralized loans to institutional borrowers. The interest charged on these loans results in an average APR of about 10% (6.4% of basic yield + 3.5% of Drip points), thus driving the rapid rise of SyrupUSDC.

You can also give up points to earn a fixed return of 9.2% PT on Pendle.

Approximately 587 million USD was used for DeFi, mainly accounting for 55% in Spark and 19% in Pendle.