With numerous stablecoin codes and token standards existing in the cryptocurrency blockchain space, criticisms of fragmented liquidity and increasingly complex user experiences are growing. On-chain analyst ZackXBT recently emphasized via X (formerly Twitter) that the complex stablecoin usage environment is leading to cost burdens and technical barriers.
ZackXBT points out that the main problems users face when transferring stablecoins include: "cross-chain bridging limitations," transaction fees and gas costs, and inconsistencies in token support among centralized exchanges. He specifically explains that even simple stablecoin transfers require complex operations because each blockchain needs to pay fees using its unique native token.
He gave an example: "When a user receives USDPT tokens sent to their Solana wallet address, but USDPT is not listed in the wallet's base token list, they need to transfer the gas fee from Ethereum (ETH) to Solana via a cross-chain bridge, and then send the USDPT to a centralized exchange to exchange it for US dollars." He emphasized that the entire process is not only complex and time-consuming, but also causes unnecessary expenses and inconvenience for users.
The lack of clear guarantees regarding interoperability between blockchains is limiting the practical application of digital assets, including stablecoins. Complex transmission structures and transaction fees may create barriers to user entry, thereby hindering the activation of overall market liquidity.
While the market is currently pushing forward with measures such as unified token standards, integrated wallet interfaces, and the development of cross-chain solutions, it is widely believed that there is still a long way to go. Compared to the increasingly important role of stablecoins, the criticism that the overall connectivity and user convenience of the ecosystem are still insufficient is gaining more and more acceptance.
