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Controversial market maker DWF to launch multi-asset collateralized stablecoin offering varying annual yields

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Controversial market maker DWF to launch multi-asset collateralized stablecoin offering varying annual yields

Investment firm and market maker DWF Labs announced the completion of the design for a synthetic collateralized stablecoin that will support multiple assets and offer varying Annual Percentage Yields (APY).

DWF Stablecoin

DWF co-founder Andrei Grachev stated on X platform that the supported assets of this stablecoin include:

  • Stablecoins: USDT, USDC, DAI, USDE

  • Mainstream coins: BTC and ETH

  • Blue-chip tokens

  • Long-tail assets and competitive coins

Andrei Grachev revealed few details and did not mention the overall design specifics.

Controversial Emerging Market Maker DWF Labs

DWF Labs has made a name for itself in the crypto field, accumulating a lot of controversies in just over a year:

  • BlockBeats interviews controversial market maker DWF Labs: We don't manipulate the market

  • Controversial market maker DWF Labs criticized for not being qualified to be on the same stage, responds to industry criticism: Don't cry wolf

  • $CYBER surges 150% in two days! Upbit holds 33% of circulation, is market maker DWF trading?

  • Market makers keep cutting! DWF Labs responds to unfounded accusations, emphasizing the market downturn and the necessity to trade

  • LD Capital's Guide | The truth behind the surge of small coins, how to see through and leverage the business logic of market maker DWF

Although named a "market maker," DWF most commonly discusses price fluctuations when facing potential clients or even current partners.

Many projects that are said to have received investment from DWF actually did not secure financing through agreements, but rather DWF buys coins from the project and profits from market making and aggressive price pumping.

Growth of Yield Stablecoins

According to DeFiLlama, USDT, USDC, and DAI are the top three stablecoins with the following market shares:

  • USDT: $118.12 billion, 69.63%

  • USDC: $34.92 billion, 20.45%

  • DAI: $5.36 billion, 3.06%

Maker Protocol rebranded as Sky, preparing to launch USDS stablecoin

Stablecoin Market Share

According to the stablecoin report by BitU Protocol, although the top five stablecoins only account for 2.6% of all stablecoin quantities, they hold a market share of 96.11%.

However, large stablecoins have limited growth this year, while yield stablecoins like USDe have shown significant growth. The market seems to be actively driving the demand for stablecoins with yield-bearing mechanisms, rather than just serving as a medium of exchange.

According to DWF Labs, if their stablecoin can offer a stable income mechanism, it may further impact the stablecoin market with a market value of up to $170 billion.

Stablecoin Growth Rate