
财经悟空|Jun 13, 2025 01:10
Resolv has made a strong debut on Binance Alpha and Binance contracts. Recently, the stablecoin market has been flooded with various trends, and in the wave of stablecoin fever, Resolv may take a unique path and embark on a different path
The Resolv project is led by well-known Web3 VCs such as Coinbase, Delphi, and Gumi Cryptos, with the aim of creating a 100% ETH over collateralized, dollar anchored on chain stablecoin USR. A total of tens of millions of dollars in financing was obtained, which can be said to be a large VC market. Previously, there was a special talk about VC coins - for the secondary market, 'being able to rise is a good coin'
At present, the price of Resolv is 0.25 US dollars, with a circulating market value of less than 40 million US dollars and FDV of 320 million US dollars. Compared with the same period last year, the circulating market value of ENA was 2.2 billion yuan, and the FDV was 5.4 billion yuan. Personally, I think there is a lot of room for buying
The design of Resolv can be summarized as "three-tier assets+triple mechanism":
1. USR: Core stablecoin
Over collateralized by ETH, anchored in US dollars
Can be pledged as stUSR and enjoy the benefits of the agreement
Liquidity anchoring supported by underlying assets
2. RLP: Risk bearing LP
Provide ETH minting to earn PERP positive capital fee+staking income
The system losses will be absorbed by RLP first
3. Mortgage Pool: Achieving Delta Neutrality
ETH spot and PERP contract construction hedging
Combining on chain and custodial assets, balancing transparency and security
In terms of revenue, daily distribution allows USR users to receive stable returns, RLP users to earn risk premiums, and a portion of the agreement treasury is withdrawn for ecological development.
Compared to ENA, which is almost on the same track, Resolv goes further in terms of "on chain native", reflected in the following three points:
1. More reliable sources of income
Mainly relying on the on chain PERP market and ETH staking, the returns are more stable and transparent.
2. Clear risk stratification
Losses are borne by RLP, USR users' capital is safe, anchored steadily, and risk isolation is clear.
3. More diverse token mechanisms
USR (stablecoin), RLP (risk LP), and RESOLV (governance) have distinct functions and more intuitive participation methods.
Resolv and Ethena started almost simultaneously, but their development was slightly slower. It has chosen a more on chain, structured, and censorship resistant path, with slow startup and high barriers to entry, but demonstrating a purer DeFi philosophy.
In the current era of constantly evolving revenue oriented stablecoin models, Resolv may not be the earliest project to emerge, but it is more on chain, purer, and has greater potential, and may bring unexpected returns
Official account @ ResolvLabs
Official website: http://resolv.xyz
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