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余烬
02-28
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Stablecoins have evolved from an opaque, trust-based system with no initial proof of reserves, to USDT publishing quarterly reserve verification reports, and then USDC publishing them monthly. The standardization and transparency of stablecoins have improved along with the industry's development. Now, USD1 has taken this transparency to a new level, becoming the industry's first stablecoin to publish real-time reserve verification data. USD1's real-time reserve data dashboard: por.worldlibertyfinancial.com The logic is that Chainlink continuously pulls reserve data from USD1's custodian, BitGo, verifies it, and then publishes it on-chain. The entire process is open-source, real-time, and without human intervention. It's foreseeable that other stablecoins will follow suit with the frequency of reserve verification publication. Of course, for us users, this kind of "intensive" industry transparency improvement is always welcome.

WLFI
@worldlibertyfi
02-28
The stablecoin industry has a transparency problem. Most rely on quarterly attestations. USD1 already does monthly - better than anyone else. But even monthly attestations have a 1-month reporting delay because accounting takes time. We just solved that. Thread 👇
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