Former CEO of Tether launches new Stable Coin 'Pi Protocol', what are the features of USP and USI?

According to Bloomberg reported yesterday (19), Reeve Collins, co-founder of US dollar Stable Coin USDT issuance merchant Tether, is launching a new Stable Coin project Pi Protocol, which is a revenue-based Stable Coin that will provide investors with the opportunity to earn from tokenized real-world assets. (Synopsis: Tether CEO: is actively assisting US lawmakers to enact the Stable Coin Act and will not let USDT perish) (Background supplement: The "big time" of banks issuing Stable Coin is coming? Fed Governors: Institutions should be allowed to help the dollar consolidate its global position) According to Bloomberg yesterday (19), Reeve Collins, co-founder of the US dollar Stable Coin USDT issuance merchant Tether, is launching a new Stable Coin project Pi Protocol, and this is a revenue-based Stable Coin. It will provide investors with the opportunity to earn from tokenized real-world assets. Currently, Reeve Collins is the chairman and co-founder of Pi Protocol, which is also expected to launch on the public blockchain Ethereum and Solana in the second half of this year or sooner. Note: Reeve Collins co-founded the predecessor of Tether with Brock Pierce and Craig Sellars, and served as the company's first CEO from 2013 to 2015. What is the Pi Protocol? According to Pi Protocol on the social platform X and the Pi Protocol official website, Pi Protocol, as a new decentralized Stable Coinprotocol, will anchor real-world assets (RWA), through Smart ContractmintStable Coin USP, while sending USI as a revenue for mint holders, its features include: Ensure the stability of issuance Coin truly realizes 1:1 asset reserves, including bonds, structured notes (ILNs), etc.; Pi Protocol's Stable Coin will guarantee transparency and be audited to ensure full visibility of the fund reserves; While ensuring security, it can provide income for investors; The protocol also has its governance token, USPi, and will distribute protocol income as a reward for Tokenholders; Tokenholders are also allowed to participate in activities such as protocol voting. However, as far as the current data is concerned, it is not obvious that USP has any unique new architecture, which is basically the same as the current many income-based Stable Coins, and it remains to be seen whether it can win the siege in the future. 1/Did you know most "stable" stablecoins aren’t fully backed by assets? Traditional fiat-backed stablecoins often rely on banks operating with fractional reserves, meaning your funds may not truly be 1:1 backed. — Pi Protocol (@piprotocol) November 29, 2024 For this Stable Coinprotocol, Reeve Collins said that the goal is for participants to get good returns from the development of Stable Coin, which is quite different from Tether's model: We will Pi Protocol is seen as a product of the evolution of Stable Coin, and Tether has been very successful in demonstrating the demand for Stable Coin, but Tether has enjoyed these benefits exclusively. We believe the market is ready for the next change. What is certain, though, is that Tether is currently under increasing competitive pressure. Unlike USDT, which monopolizes the proceeds of buying U.S. bonds or other cash equivalents, there are now many Stable Coins that share the proceeds with users to attract market share, although USDT's leading position is not so easy to loosen, but we may see USDT also change in the future, which may be good news for users. Citibank plans to provide digital asset custody services, the next step is issuanceStable Coin? Brazil considers banning people from holding Stable Coin on DEX! Central Bank: Lack of transparency easy to become tax evasion and Money Laundering tools South Korea accelerates the lifting of bans on corporate investment in virtual assets, Stable Coin legislation, can Taiwan keep up? 〈Former CEO of Tether launches new Stable Coin "Pi Protocol", what are the features of USP and USI? This article was first published in BlockTempo "Dynamic Trend - The Most Influential Block Chain News Media".