#稳定币 After reading the news about Jupiter launching JupUSD at Solana Breakpoint and OSL Group releasing USDGO, I have to be honest — stablecoins are really becoming "hot commodities" now, but this is precisely the time to be most cautious.

Remember those so-called "revolutionary" stablecoin projects? What do they have in common? The hype builds up, funding comes in, and then what happens? Users get cut repeatedly. I’ve seen too many stablecoins initially attract liquidity through various incentives and ecosystem support. Once they scale up, problems arise — increased slippage, shallow depth, and project teams starting to play tricks.

This time, JupUSD plans to convert $7.5 billion USDC, which sounds grand, but my question is: is this a genuine demand or just another wave of hype driven by capital? Stablecoins themselves don’t have significant technical barriers; their competitiveness depends on — ecosystem support, liquidity, and most importantly — the true intentions of the project team.

I’m not saying these projects are necessarily problematic, but every time a new stablecoin launches, I ask myself three questions: First, can this coin genuinely reduce my trading costs? Second, are the powers held by the project team constrained? Third, if liquidity suddenly breaks down, can I withdraw my funds quickly?

Multiple stablecoins competing for the market may seem like a good thing — more choices. But in reality, it’s the beginning of fragmentation. The ones who get hurt the most are often small retail investors who follow the trend into these projects. Stablecoins should honestly focus on stability — don’t play rollercoaster, and don’t expect them to make you rich overnight. Longevity is more important than quick gains.