This topic has a cool perspective! Behind the introduction of various stablecoin regulatory policies, the market has indeed seriously underestimated the explosive potential of the "revenue oriented stablecoin" track: Firstly, it is important to understand what a yield type stablecoin is - it is essentially a 'digital dollar that generates its own money'. Unlike traditional stablecoins such as USDT and USDC, which are only digital cash tools, yield based stablecoins embed yield mechanisms such as US Treasury bonds, DeFi lending, and derivative arbitrage directly into the token logic, allowing holders to automatically receive annualized returns of 3% -27%. This is not a simple DeFi innovation, but a redefinition of the functionality of stablecoins themselves - evolving from "saving money" to "money making money". So how is the stable coin market for returns? Revenue oriented stablecoins have grown 13 times in just over a year, from $660 million in August 2023 to $9 billion now, with a single year increase of 583% in 2024. But even with such a fast growth rate, it currently only accounts for less than 5% of the $230 billion stablecoin market. Compared to the mature scale of $7 trillion in benchmark money market funds, the trillion dollar growth potential of this track is still ahead. More importantly, the policy direction has changed. The regulatory stance of the SEC on yield based stablecoins has gradually become clearer, and various legislative frameworks are also accelerating. And traditional financial giants like BlackRock go offline directly through products such as BUIDL, and so on. When the policy compliance path is clear, the infrastructure is complete, and institutional funds flood in, the "yield based stablecoin" is likely to replicate the explosive trajectory of the 1971 monetary fund and become a super bridge connecting traditional finance and digital assets.