
 
 Ngaba i-finance ye-decentralized iya kufumaneka kwi-dependence yayo kwi-US government debt? Can decentralized finance break free from its dependence on US government debt? Ngaba i-finance ye-decentralized iya kufumaneka kwi-dependence yayo kwi-US government debt? Iiprotoko ezininzi ze-DeFi ezinikezela i-stablecoins enikezela kuphela kwi-Tokenized U.S. Treasuries njenge-assurance. I-CETES, i-Mexico's short-term government bills, yaye i-asset yokuqala ye-non-dollar sovereign eyenza i-USDf ye-stablecoin. I-Falcon Finance inkxaso, efakwe ngokusebenzisa I-tokenization platform, ibonelela i-Mexican sovereign debt kwi-chain nge-Solana-native tokens. Abasebenzisi bangathumela i-tokenized i-Mexican government bills kunye ne-US Treasuries, i-Gold, okanye i-equity tokens ukuba zibonise i-USDf, ukunciphisa i-dollar-denominated liquidity ngaphandle kokuthengisa iipozithi zayo zangaphakathi. I-protocol yandele ngokushesha, ukongeza i-USDf kunye nokufikelela i-$ 2 billion kwi-circulation epheleleyo. I-Etherfuse $700 million kwi-deposit ukususela ngo-Oktobha Yintoni i-Mexican Government Bills ibala kwi-US Treasuries I-CETES (i-Certificados de la Tesorería de la Federación) isebenza njenge-equivalent yeMexico kwi-US Treasury bills, i-short-term sovereign debt instruments eyenziwe ngu-Mexican government. Ngokungafani ne-US Treasuries, eyenza i-default collateral for most DeFi protocols, i-CETES ibonisa ukuchithwa kwimveliso yentuthuko kunye ne-monetary policy, i-currency dynamics, kunye ne-risk characteristics. I-Mexico yamkelwa Ngokutsho iinkcukacha ze-World Bank, i-99% yale iinkcukacha zithunyelwe kwi-electronically, yenza i-infrastructure ye-digital payment eyenza iimveliso ze-on-chain finance. I-CETES eyenziwe ngama-tokenized ingasetyenziswa kubasebenzisi e-transfer corridors abafuna ukufinyelela kwimveliso ye-sovereign yendawo ngexesha lokufumana i-DeFi liquidity e-dollar. malunga ne-$65 billion kwi-transfers ngo-2023 I-Token isebenza nge-Etherfuse's Stablebonds isakhiwo, leyo ibonisa ukhuseleko ye-1: 1 yi-Mexican government paper kunye ne-net asset value updates ebhalwe ngosuku. Ukusetyenziswa kweSolana-native ivumela ukuxhaswa kwe-high-frequency kuqhathaniswa ne-Ethereum-based alternatives, nangona oku kunezinto ezahlukileyo zokhuseleko ngokucacileyo ngenxa yeengxaki ze-network yeSolana. Yintoni oku kubangela i-Architecture Collateral ye-Falcon I-multi-collateral model inqakraza kwi-single-asset stablecoin systems. Abasebenzisi angakwazi ukugcina iimveliso ezahlukeneyo ze-real-world ezikhokhelekileyo kuquka i-equity, iimveliso ze-commodities, kwaye ngoku iimveliso ezininzi ze-debt ze-Sovereign ezikhokelela kwi-USDf. Oku kwenza isiseko se-collateral ezahlukahlukeneyo ngaphezu kwe-concentration risk kwi-US government debt. I-Falcon Artem Tolkachev, umongameli we-RWA kwi-Falcon Finance, uthetha, 
 
 Ukongeza i-CETES kubandakanya amandla yethu ukunceda i-diversified, yi-rent-bearing RWA portfolios onchain. Abasebenzisi bangathola i-Treasuries, i-Gold, i-Mexican sovereign bills, okanye ngexesha le-Tesla ye-tokenized, kwaye ngexesha elifanayo i-USDf ye-liquidity kunye nokufumana i-DeFi yi-return ngaphandle kokuthengisa iipozithi zayo zangaphakathi. Ukongeza i-CETES kubandakanya amandla yethu ukunceda i-diversified, yi-rent-bearing RWA portfolios onchain. Abasebenzisi bangathola i-Treasuries, i-Gold, i-Mexican sovereign bills, okanye ngexesha le-Tesla ye-tokenized, kwaye ngexesha elifanayo i-USDf ye-liquidity kunye nokufumana i-DeFi yi-return ngaphandle kokuthengisa iipozithi zayo zangaphakathi. I-protocol ibhalisele i-CETES kwindawo ebizwa ngokuba yi-Basel-aligned analytical framework, enikezelela kwi-banking international that categorize assets by risk weight, liquidity, and maturity characteristics. I-short-term sovereign debt from investment-grade countries typically receives favourable treatment under these frameworks, nangona i-rating yeMexico is under the AAA-rated U.S. government debt. iindidi ezininzi phantsi kwe-US Treasuries. I-Moody's i-rate ye-Mexican government debt kwi-Baa2 I-Risk-Trade-Off Ngaba Ngaba Ngaba Ngaba Ngathi Ukongezelela iingxowa zeemarike ezihlabathi njengoko iingxowa ezihlabathi yenza iingxowa zeemali, iingxowa zopolitiki, kunye neengxaki ze-liquidity ezinokufumaneka i-US Treasuries. I-Peso yeMexico i-volatility ikhawuleza i-dollar value yeengxowa ze-CETES, kwaye nangona i-tokens zibonisa i-return, le yi-return ibonisa i-Mexico yeengxabiso ze-lending ephezulu kunokuba kwi-US rates. , kunye neengxaki ezininzi ze-30% okanye ngaphezulu. I-volatility ephakeme kumdla ye-dollar I-integration inikeza imibuzo malunga nenkqubo ye-liquidation ngexesha le-stress yentengiso. Iimarike ze-US Treasury zinikeza i-liquidity emangalisayo ngexesha le-crisis, kodwa i-debt emakethe emangalisayo inokufumana ukuchithwa kwe-liquidity ngokufanelekileyo xa i-risk appetite yehlabathi isixabiso. I-Falcon ye-system kufuneka isebenzise iisenzo apho i-CETES iindleko zentengiso ezininzi kwi-net asset value yayo, ikakhulukazi ukuba i-depreciation ye-peso ikhawulezisa okanye iinkqubo zeMexico zithembisa abathengisi ngamazwe. UDave Taylor ka-Etherfuse wabhala ukuvelisa kwimveliso yobuchwepheshe, ubonisa, 
 
 "Izixhobo yethu kuyinto ukwenza izixhobo zeemveliso zeemveliso ephakamileyo kwihlabathi kwi-format ye-programable. I-CETES ibekwe yi-paper ye-government ye-real-short-duration, eyenziwe ngempumelelo kwi-Solana, kwaye ziye ziye ziye zibonakalayo ngexesha elifanelekileyo." "Izixhobo yethu kuyinto ukwenza izixhobo zeemveliso zeemveliso ephakamileyo kwihlabathi kwi-format ye-programable. I-CETES ibekwe yi-paper ye-government ye-real-short-duration, eyenziwe ngempumelelo kwi-Solana, kwaye ziye ziye ziye zibonakalayo ngexesha elifanelekileyo." I-Etherfuse inikeza i-architecture ye-bankruptcy-remote, nto leyo kuthetha ukuba iingcebiso ze-Mexican zophando zihambe kwiinkqubo zomthetho ezahlukileyo ezahlukileyo ezahlukileyo kwi-bilanyo yebhanki. Oku ngokwenene ikhuseleko ukhuseleko abathengi be-token ukuba i-Etherfuse ngokufanelekileyo iingcebiso zofanelekileyo, nangona i-effectiveness yeengcebiso zephelele kwi-US courts kwiimveliso ze-crypto-native. Yintoni oku kuthetha ukwandisa i-DeFi ye-Geographic Iiprotocols ezininzi ze-reel asset ze-tokenized zihlanganisa kuphela kwiimarike ze-US ngenxa ye-regulatory clarity, i-liquidity epheleleyo, kunye ne-investor familiarity. Ukwandisa kwi-Mexican sovereign debt ibonisa isampula yokuba ezinye iimpahla ze-US non-government kwi-chain, ikhona kuquka i-Brazilian, South African, okanye i-South East Asian sovereign instruments. I-angle ye-remittance inikeza isisombululo esebenzayo ngaphezu kwe-speculation. Abasebenzi abalandela imali ukusuka e-United States eMexico bakwazi ukufumana i-return on-CETES ngelixa ukugcina ukufikelela kwimali ye-dollar nge-USDf, ngaphandle kokufumana iingcebiso ze-zero yi-transmittance akhawunti ezijwayelekile. Ukuba le nkqubo yokusetyenziswa lithunyelwa kwimeko yokusetyenziswa kwimeko yokusetyenziswa, kuxhomekeka, ngokutsho kwimveliso ye-on-chain kumakhasimende afana ne-crypto-native. I-Falcon i-growth metrics ibonise i-institutional or sophisticated retail interest. Ukongezelela i-$700 million kwi-deposits kwiinyanga ezimbini ibonise ukuba amaxabiso ezininzi zihlanganisa i-protocol okanye i-deposits ezincinane zihlanganisa kwimeko yeemeko ezinzima. I-protocol ayifunda i-deposits kunye ne-asset-type okanye i-geography, yenza kubangela ukuba i-CETES ibonise ngokugqithisileyo ukunyuka kwiminyaka esidlulileyo okanye ukuba ukuqhagamshelwano uye lihlale iimpumelelo esebenzayo. I-Positioning Strategic okanye i-Diversification Early? Ukuphumelela kweFalcon kunokwenzeka ukuba i-protocols ye-DeFi iya kuba neempawu ezininzi zokuphumelela ngaphandle kokuphumelela kwe-US dollar. Ukuphumelela kwe-geopolitical, i-debate ye-US debt ceiling, kunye neengxaki malunga ne-treasury market structure kunokukhawuleza abasebenzisi ezinxulumene kwi-multi-sovereign collateral systems. Ukunikeza i-Mexican government exposure positions i-Falcon phambi kweengcali ezininzi ziye zithunywe kwiinkqubo ze-US kuphela. Ixesha lokuphendula iingxaki. Ukuhlanganiswa kwe-CETES kunokwenzeka njengoko i-Falcon ibandakanya i-$2 billion kwi-circulation, okuvumela ukufumana ukhuseleko kwinkqubo ezikhoyo ngaphambi kokongeza ukuxhaswa. Nangona kunjalo, i-debt yeemarketh emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni, ngexesha elifanelekileyo xa i-stablecoin collateral ibandakanya ubonakalelo emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni emzimbeni. Umgangatho we-multi-collateral ye-protocol ivela i-optionality kodwa i-complexity ye-operational. Yonke iindidi ezintsha zeengxaki zihlanganisa i-risk parameters, i-liquidation mechanics, kunye ne-monitoring systems. I-US Treasuries ibonelela kwi-pricing ye-standardization, iimarike ze-deep, kunye ne-regulatory clarity eyenza ukuba amaxabiso zeMexico zikafumaneka. Ukuba abasebenzisi be-Falcon bayifumana i-diversification efanelekileyo ukuba isebenze le-complexity eyongeze ukuba ukuyifumaneka okanye kuba yi-function engaphantsi. Imibuzo lokugqibela Ukusetyenziswa kweFalcon Finance kwi-CETES yaseMexico kubandakanya i-deFi ye-default assumption ukuba i-Tokenized Treasuries ye-US ibonisa indlela eyodwa yokufanelekileyo ye-on-chain sovereign yi-return. I-protocol ibonise ukufikelela kwezobugcisa ze-multi-sovereign collateral systems kwaye ibonise isakhiwo sokuba nezinye i-platforms ziya kubandakanya i-instruments yeengxaki zeemazwe ezahlukeneyo. Ukubuyekezwa kwimeko yeempembelelo emakethe xa ukucaciswa kwe-clarity kubalulekile kakhulu, ngaphandle kwimeko ze-growth phase apho yonke into isebenza ngokucacileyo. Ukuba i-peso volatility okanye iinkqubo ze-Mexico zoluntu zenza iinkalo ze-liquidation, ukuqhagamshelwano iya kufumaneka kwimeko yayo yokuqala enzima. Ukuba i-CETES ibonelela i-value epheleleyo kwaye ibonelela isivumelwano yabasetyhini ngaphandle kwe-novelty yokuqala, i-Falcon ibonelela i-playbook ye-geographic diversification kwi-deFi collateral. Umxholo olungaphezulu kufuneka ukuba abasebenzisi akufuneka ukunyibilika kakhulu ukufumana i-compromise. I-Mexican sovereign risk ingahlukileyo kwi-US credit risk, kwaye akukho zonke i-diversification kunceda ukunyibilika i-portfolio resilience. Ixesha kuyafumaneka ukuba i-Falcon iye yenzelwe iimfuno ye-market ebuninzi okanye i-complexity eyongezelelweyo ngaphandle kweemfuno efanelekileyo. Ngoku, ukuxhaswa kubonisa i-DeFi yokuqinisekisa kakhulu ukuvelisa ngaphandle kwe-US-centric real-world asset frameworks. Ngaba ushiye ukuthetha kwaye ushiye iinkcukacha! 
 
 Umbhali we-HackerNoon uqhagamshelane kwiinkqubo yethu ye-blogging yebhizinisi. I-HackerNoon uqhagamshelane i-report ngenxa yekhwalithi, kodwa iingcebiso ezininzi ziquka umbhali. #DYO Umbhali we-HackerNoon uqhagamshelane kwiinkqubo yethu ye-blogging yebhizinisi. I-HackerNoon uqhagamshelane i-report ngenxa yekhwalithi, kodwa iingcebiso ezininzi ziquka umbhali. #DYO I-Business Blogging Program I-Business Blogging Program

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