Future Landscape Predictions of the Stablecoin Sector

The stablecoin market may present a diversified competitive landscape in the future. After intense market competition, it is expected that the following three main levels will form:

Top Stablecoins

The current dominance may continue, with a certain offshore stablecoin still being the leader in this category, while a certain compliant stablecoin may maintain an advantage in regulatory-friendly areas.

Regional and Scenario-based Stablecoins

This level mainly includes two categories:

1. Compliant stablecoins issued by traditional enterprises:

   • For specific regions or business scenarios
   • For example, the possible Hong Kong dollar stablecoin or e-commerce platform stablecoin
   • These stablecoins can better adapt to local demand and business ecosystem

2. Decentralized stablecoin:

   • Developed by a Web3 company
   • May provide additional returns through innovative mechanisms
   • Such as the recently emerging "neutral strategy stablecoin"

Segmented Market Stablecoin

Similar to the landscape of the exchange industry, the stablecoin market may also see a batch of small and medium-sized participants focusing on specific areas. Their survival strategies mainly include:

• Deeply cultivate niche trading pairs and specific business scenarios
• Focus on developing specific country or regional markets

The Potential of Decentralized Stablecoins

Decentralized stablecoins may demonstrate advantages in the following areas:

• Bypass certain regulatory restrictions to provide users with returns
• Meet the market demand for "yield-bearing stablecoin"
• Achieve stability and yield through innovative mechanisms (such as perpetual contracts)

Overall Structure of the Stablecoin Market

The stablecoin market can be likened to an iceberg:

• Compliant stablecoin: The part of the iceberg above water, mainly based on a certain compliant stablecoin.
• Offshore stablecoin: The underwater main body part, a certain offshore stablecoin dominates.
• Segmented stablecoins: There are deeper layers, including various special scenarios and innovative stablecoins.

In the future, the stablecoin market may exhibit a trend of diversification and layered development to meet the needs of different users and scenarios.