Circle及其USDC Stablecoin對更廣泛的加密市場產生重大影響，但並非總是很好

Cardano的聯合創始人查爾斯·霍斯金森（Charles Hoskinson）認為，雖然USDC在許多區塊鏈中被廣泛接受，但其對流動性分佈的幾乎壟斷的控制卻引起了人們的關注。

Circle and its stablecoin USDC are having a major impact on the broader crypto market, but not always in a good way. According to Charles Hoskinson, co-founder of Cardano, while USDC is widely accepted across numerous blockchains, its near monopoly-like control over liquidity distribution is a cause for concern.

Circle及其Stablecoin USDC對更廣泛的加密市場產生了重大影響，但並非總是如此。 Cardano的聯合創始人查爾斯·霍斯金森（Charles Hoskinson）表示，雖然USDC在許多區塊鏈中被廣泛接受，但其對流動性分佈的近乎壟斷的控制是引起人們關注的原因。

Many projects are starting to doubt the value of working with Circle, as its actions appear to drain liquidity from their ecosystems. Cardano, a major blockchain that is steadily growing, should consider its position carefully when it comes to future collaborations with Circle. With concerns over liquidity manipulation and monopoly practices on the rise, it’s time to reassess relationships with companies like Circle.

許多項目開始懷疑與Circle合作的價值，因為其行動似乎從其生態系統中消耗了流動性。卡爾達諾（Cardano）是一個穩步增長的主要區塊鏈，在與Circle的未來合作方面應仔細考慮其位置。由於對流動性操縱和壟斷實踐的擔憂正在上升，現在該重新與Circle等公司重新評估關係了。

Circle’s Playbook: How They Control the Game

Circle的劇本：他們如何控制遊戲

The problem lies in Circle’s monopolistic tactics, which favor its own chain, like SUI, at the expense of others. For several projects, including Polkadot and Algorand, USDC’s promises of increased liquidity and volume were nothing but empty words.

這個問題在於Circle的壟斷策略，這些策略有利於自己的連鎖店，例如Sui，以犧牲他人為代價。對於包括Polkadot和Algorand在內的幾個項目，USDC對流動性和數量增加的承諾不過是空白的。

These chains invested millions in USDC, hoping for a boost in activity. Instead, they saw liquidity move to SUI, a blockchain partially owned by Circle.

這些連鎖店向USDC投資了數百萬美元，希望促進活動。取而代之的是，他們看到流動性轉移到了Sui，這是一個由Circle部分擁有的區塊鏈。

Cardano, however, has an opportunity to go a different route. For stablecoins to take off, ecosystems require substantial liquidity — around $30 million is needed just for traction.

但是，卡爾達諾有機會走不同的路線。為了使Stablecoins起飛，生態系統需要大量的流動性 - 僅需花費大約3000萬美元即可。

Currently, the cost to acquire USDC liquidity is exorbitant, with projects spending $15 million just to secure the token and another $30 million to mint and seed liquidity. This could be better spent on advancing the roadmap, supporting development, and increasing adoption.

目前，獲取USDC流動性的成本高昂，項目花費了1500萬美元來確保代幣，另外3000萬美元用於薄荷和種子流動性。這可以更好地用於推進路線圖，支持發展和增加採用。

In contrast, Ripple’s RLUSD presents a more attractive option. Unlike USDC, which is primarily concerned with its own chain’s success, RLUSD is motivated to seed liquidity because of its strong desire for adoption in large ecosystems like Cardano. Additionally, RLUSD’s status as a U.S.-based stablecoin offers distinct advantages, especially in a market where regulatory clarity is key.

相比之下，Ripple的RLUSD提出了更具吸引力的選擇。與USDC不同，這主要與其自身連鎖店的成功有關，RLUSD由於對Cardano等大型生態系統的採用而有強烈的收養渴望，因此有動力進行流動性。此外，RLUSD作為總部位於美國的Stablecoin的地位提供了不同的優勢，尤其是在監管清晰度至關重要的市場中。

Why Ripple’s RLUSD Makes Sense for Cardano

為什麼Ripple的Rlusd對Cardano有意義

Besides its legal advantages, Ripple’s RLUSD could be a strategic boon for Cardano’s ecosystem. Ripple is highly incentivized to ensure RLUSD’s success, meaning Cardano could benefit from its liquidity initiatives. If Cardano chooses to adopt RLUSD, this move could signal to Tether and USDC that Cardano is serious about exploring other options.

除了其法律優勢外，Ripple的RLUSD可能是Cardano生態系統的戰略福音。瑞波（Ripple）高度激勵了確保RLUSD的成功，這意味著Cardano可以從其流動性計劃中受益。如果Cardano選擇採用RLUSD，此舉可能會向Tether和USDC發出信號，Cardano認真探索其他選擇。

If these competitors see Cardano gaining ground, they may be motivated to offer their services free of charge, just to stay in the game. Additionally, Ripple’s transparency and willingness to support Cardano financially may help offset any risks related to liquidity acquisition and fees.

如果這些競爭對手看到Cardano的收穫，他們可能會有動力免費提供服務，只是為了留在遊戲中。此外，Ripple在經濟上的透明度和支持Cardano的意願可能有助於抵消與流動性獲取和費用有關的任何風險。

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