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When Binance launched a 30-day USD1 savings product offering close to 20% APY, the market reaction was immediate — and intense.
Large amounts of capital rotated from USDT and USDC into #USD1 within days.
Soon after, USD1 started trading at a noticeable premium, and discussions around depegging, bank-run risk, and whether to exit early began to spread.
Rather than jumping to conclusions, I want to take a step back and walk through what actually happened — from price behavior, to yield incentives, to USD1’s underlying mechanics — and see whether the concerns are structural or mostly situational.
First things first: what kind of stablecoin is USD1?
Before talking about price action, it’s important to understand what USD1 actually is.
USD1 is a fully collateralized USD-backed stablecoin. Its reserves consist primarily of:
· U.S. dollar cash
· Short-term U.S. Treasuries
· Dollar deposits
· Other highly liquid cash equivalents
In other words, this is not an algorithmic stablecoin, and it’s not operating on a fractional-reserve model. Structurally, it follows a relatively conservative and traditional design.
Transparency and redemption matter more than most people think
USD1 publishes regular reserve disclosures and is subject to third-party audits.
This isn’t exciting, but in the stablecoin world, lack of transparency is often where real problems start.
Another underappreciated detail:
USD1 charges no fees for minting or redemption.
That has real implications:
· Lower arbitrage friction
· Faster price convergence back to $1
· Less stress during periods of market imbalance
Historically, stablecoins tend to fail not because assets are missing, but because redemptions become constrained. From a rules-based perspective, USD1 scores well here.
Custody structure
USD1’s reserves are held by regulated custodians, including BitGo Trust.
This doesn’t mean zero risk — nothing does — but it places USD1 closer to institutional standards in terms of asset segregation and compliance.
Revisiting the price action: why did USD1 trade at a premium?
Stablecoins are supposed to trade at $1.
In reality, whenever demand spikes faster than supply, deviations are normal.
Phase 1: launch of the high-yield product — premium forms
When the 20% APY product went live, several things happened at once:
· Yield was unusually attractive
· Subscription capacity was limited
· Demand moved faster than new minting
In that environment, USD1 became less of a “stable medium of exchange” and more of a ticket into a high-yield product.
A short-term premium was almost inevitable.
Phase 2: supply catches up, premium compresses
As the campaign progressed:
· Minting increased
· Arbitrage capital stepped in
· Early deposits were locked into savings
USD1’s price began to drift back toward parity — not violently, but gradually.
That’s an important distinction. Panic-driven events tend to be sharp and disorderly. This move wasn’t.
Phase 3: approaching maturity — back to normal ranges
As the promotion neared its end, USD1 traded mostly within the
$0.998–$1.000 range, which is well within normal stablecoin noise.
Looking at the full cycle, USD1 stayed anchored around its peg throughout.
There was volatility — but no structural depegging.
Where did the 20% yield actually come from?
This is the most misunderstood part of the entire discussion.
According to estimates shared by researcher @cmdefi, the USD1 campaign was backed by:
· World Liberty Financial (WLFI)
· Roughly $40 million per month in explicit incentive subsidies
In other words, the yield wasn’t “organic” interest or hidden leverage.
It was a clearly defined marketing and liquidity incentive.
At Binance-held USD1 balances of roughly $2.5–3.3 billion, that incentive translated into APYs in the 14%–18% range, depending on participation.
As TVL grows, yields decline — linearly and predictably.
There is no cliff effect.
 
Should holders exit early before the campaign ends?
From a structural standpoint, there’s little evidence that an early exit is required:
· USD1 is fully collateralized
· Minting and redemption remain friction-light
· Incentives ending does not change reserve composition
· Price behavior remains within normal stablecoin bounds
That said, if someone entered at a clear premium, or no longer wants stablecoin exposure after maturity, adjusting positions is a rational portfolio decision.
That’s very different from a systemic risk signal.
 
Final thoughts
In hindsight, USD1’s recent volatility looks less like a warning sign and more like a case study in incentive-driven demand distortion.
The yield was temporary.
The subsidy was explicit.
And the mechanics remained intact throughout.
High APY created noise — not structural instability.
Incentives fade. Mechanisms remain.
That distinction matters.
Disclaimer: This article reflects my personal views and is for informational purposes only. It does not constitute investment advice. Crypto markets are highly risky and volatile. Before participating in any airdrop, campaign, or making any investment decision, please do your own research and act with caution.

As the year turns, crypto timelines are once again flooded with airdrop “watchlists.” Some argue that the airdrop era is over—but every market cycle still produces new projects that deliver very real rewards to users who participate early and consistently.
I’ve reviewed a broad range of active ecosystems and curated this watchlist based on product maturity, team background, and community momentum. To be clear, none of the projects below can guarantee an airdrop. However, most of them are at a critical stage of development, making them well worth understanding—and in some cases, actively engaging with.
My Evaluation Framework: A Three-Dimension Scorecard
I evaluate projects through three core lenses:
· Necessity – Does the project genuinely need a token?
· Sustainability – Can the product survive across market cycles?
· Fairness – Does the distribution model reward real participation?
Below is the sector-by-sector breakdown, along with practical participation guidance.
1. Prediction Markets
This sector is well-positioned for a breakout in 2026. Real demand combined with high user stickiness creates a powerful flywheel.
Polymarket
Website: polymarket.com
How to participate: Trade in prediction markets
Notes: An airdrop has already been confirmed. With over one million users and a highly mature product, this is one of the strongest candidates. Recommendation: place 3–5 predictions per week to maintain consistent activity.
Kalshi
Website: kalshi.com
How to participate: Prediction market trading
Notes: A regulated platform with a strong compliance advantage. Best suited for steady, small-sized participation to build a long-term activity record.
Myriad Markets
Website: myriad.markets
How to participate: Prediction market trading
Notes: Clean UI and excellent mobile experience. Participation in trending topics tends to generate higher engagement.
Melee Markets
Website: alpha.melee.markets
Notes: The alpha version already showcases unique mechanics. Early users may benefit from asymmetric upside.
2. DEXs and Trading Infrastructure
Trading is a permanent demand in crypto. The challenge is identifying projects with real innovation rather than short-lived incentives.
Titan Exchange
Website: app.titan.exchange
How to participate: Solana DEX aggregation trading
Notes: Aggregates nearly all major Solana protocols. Daily trades combined with badge collection appear to be key engagement signals.
Backpack
Website: backpack.exchange
How to participate: Perpetual trading + badge system
Notes: TGE appears to be approaching. The team has deep ecosystem roots. Consider participating in perps with a moderate capital allocation.
Jupiter Exchange
Website: jup.ag
How to participate: Swaps, lending
Notes: A major traffic gateway for the Solana ecosystem. Continuous interaction is likely valuable. Suggestion: at least three swaps per week.
Paradex
Website: app.paradex.trade
How to participate: Trade perps to earn points
Notes: A key trading venue in the StarkNet ecosystem, especially relevant for users focused on Layer 2 growth.
3. AI x Crypto
By 2026, AI agents may become default infrastructure. Early exposure here could be highly leveraged.
Abstract Chain
Website: abstractchain.org
How to participate: Complete tasks to earn XP and badges
Notes: A Layer 1 focused on becoming an execution layer for AI agents. Testnet tasks are updated regularly.
RitualNet
Website: ritual.net
How to participate: Discord participation + task system
Notes: AI compute infrastructure with strong technical credibility. Active contribution to technical discussions may matter.
Inference Labs
Website: inferencelabs.com
How to participate: Points system + community contributions
Notes: Focused on decentralized AI inference. Weekly community Q&A participation is recommended.
OpenMind AGI
Website: openmind.org
How to participate: Use the app to earn points and badges
Notes: Positioned at the intersection of AI and robotics, with rapid iteration cycles.
4. Deeper Opportunities in the Solana Ecosystem
Solana has clearly regained momentum, but selective participation remains essential.
Hylo
Website: hylo.so/stablecoin
How to participate: Hold hyUSD, xSOL, hyloSOL
Notes: A competitive space, but the value proposition is clear. Suggested strategy: hyUSD ONE pool combined with YT-xSOL.
Loopscale
Website: app.loopscale.com
How to participate: Lending and looping strategies
Notes: TVL is stable, but yield farming is crowded. Smaller capital allocations may see limited returns.
Exponent Finance
Website: exponent.finance/income
How to participate: Provide liquidity
Notes: A yield marketplace on Solana. Short-term participation in high-APY pools may be optimal.
DeFi Tuna
Website: defituna.com
How to participate: Trade, provide liquidity, stake $TUNA
Notes: Combines AMM design with advanced LP tooling. Best suited for experienced DeFi users.
5. Privacy and Infrastructure
Privacy-focused infrastructure is likely to gain renewed attention in 2026.
Fairblock Network
Website: fairblock.network
How to participate: Discord community engagement
Notes: High technical barriers, but potentially strong long-term defensibility.
0xMiden
Website: miden.xyz
How to participate: Community contribution
Notes: A ZK-rollup Layer 2. Monitor upcoming testnet releases.
Umi Network
Website: uminetwork.com
How to participate: Discord + testnet
Notes: Very early-stage ZK-rollup infrastructure.
6. RWA and Payments
Tokenized real-world assets remain one of the most structurally certain trends.
KAST Card
Website: kast.xyz
How to participate: Spend using the card
Notes: A global payment card. Real usage history may carry meaningful weight.
Phygitals
Website: phygitals.com
How to participate: Trade and hold RWAs
Notes: Tokenized physical assets. Prefer RWAs linked to well-known brands.
MultipliFi
Website: multipli.fi
How to participate: Trade and hold RWAs
Notes: An RWA trading platform—closely track regulatory progress.
7. Professional Perpetual Trading Track
Bulk Trade
Website: bulk.trade
How to participate: Solana perpetual trading
Notes: Testnet launch is approaching. Early users may benefit disproportionately.
Variational
Website: variational.io
How to participate: Perpetual trading
Notes: Innovative product design, likely best suited for professional traders.
Extended
Website: extended.exchange
How to participate: Perpetual trading
Notes: An aggregator exchange with clear fee advantages.
8. Social and Information Protocols
Kaito AI
Website: yaps.kaito.ai
How to participate: Contribute to discussions
Notes: A leading project in the InfoFi space. Content quality matters more than volume.
Base
Website: join.base.app
How to participate: Interact with the Base app
Notes: An emerging SocialFi platform. Daily check-ins and content posting form the core loop.
Xeet AI
Website: xeet.ai
How to participate: Join the partner program and build influence
Notes: An InfoFi platform potentially favorable to long-term builders.
My Personal Execution Routine
Daily
· Use core trading and DeFi products for real needs
· Stay active in selected high-quality communities
Weekly
· Test the core features of 1–2 new products·
· Publish or contribute valuable content where it matters
Monthly Review
· Reassess project progress
· Prune slow-moving or stagnating projects
Closing Thoughts
Pursuing airdrops is ultimately a process of discovering strong early-stage projects. When the focus shifts from “How many tokens can I get?” to “Is this project genuinely valuable?”, the entire experience changes.
Opportunities in 2026 are unlikely to be fewer—but the ways to earn them will be more diverse. Beyond trading and liquidity provision, content creation, community building, and product testing may become equally important contribution paths.
The key is finding a rhythm that fits you. You don’t need to chase every opportunity or narrative. Understand your strengths, choose aligned projects, and remain patient and consistent.
In an era of information overload, focus and depth may be the rarest competitive advantages. Rather than following every trending project, it’s often better to commit deeply to a few domains you truly believe in.
Disclaimer: This article reflects personal opinions only and does not constitute investment advice. Crypto markets are highly risky. Always conduct your own research and exercise caution before participating in any airdrop or investment activity.

Robotlar bir zamanlar elmi fantastikaya məhdud idi. Web2 miqyaslı platformaların yüksəlişi və geniş yayılmış ağıllı avadanlığın qəbul edilməsi ilə, onlar tədricən laboratoriyalardan fabriklərə, anbarlara, logistika sistemlərinə və xidmət sahələrinə keçdilər. Son on il ərzində, avtomatlaşdırma səmərəliliyi artırdı, lakin əksər robotlar bağlı platformalarda və mərkəzləşdirilmiş idarəetmə sistemlərində qaldı.
Web3-ün meydana gəlməsi bu strukturu dəyişməyə başlamışdır.
Robotlar artıq tamamilə avadanlıq cihazları kimi baxılmır. Blokçeyn əsaslı bir çərçivədə, maşınlar iqtisadi iştirakçılar ola bilər. Onların yaratdığı məlumatlar, yerinə yetirdiyi hərəkətlər və yaratdığı dəyər qeyd edilə, təsdiqlənə, təşviq oluna və zəncirdə həll edilə bilər. Süni intellekt robotika ilə kəsişdikcə, fiziki və rəqəmsal dünyalar arasındakı sərhəd yenidən tərtib olunur.

Prediction markets are crossing an important threshold.
In mid-January, activity across major platforms accelerated sharply—not just in headline volume, but in trading frequency, liquidity turnover, and user engagement intensity. What we are witnessing is not a one-off spike driven by a single event, but a broader transition in how prediction markets are being used.
For much of their history, prediction markets were viewed as niche instruments: intellectually elegant, but economically constrained. Today, they are beginning to resemble something else entirely—continuous, high-participation event markets.
This article examines how three representative platforms—Kalshi, Polymarket, and Opinion—are driving this transition in very different ways, and what that divergence reveals about the future of prediction markets.
1. The Core Shift: From Low-Frequency Bets to High-Velocity Trading
Historically, prediction markets suffered from a structural ceiling: low capital velocity.
The classic user flow was simple:
· Enter a market
· Place a position
· Wait for resolution
· Exit
Capital was locked, engagement was episodic, and price discovery was slow.
What has changed is not merely the number of participants, but how participants interact with the same contract over time.
Today’s prediction markets increasingly exhibit:
1. Continuous repricing of events, not just binary outcomes
2. Repeated entry and exit within a single event lifecycle
3. Intra-event volatility that itself becomes a trading opportunity
In other words, prediction markets are shifting from outcome-based participation to process-based trading.
This change alone dramatically alters what “scale” means for the sector.
2. Kalshi: How Sports Turned Prediction Markets into High-Frequency Venues
Among major platforms, Kalshi’s transformation is the most structurally decisive.
Rather than positioning prediction markets purely as information tools, Kalshi has leaned into a more pragmatic reality: sports create frequency.
Sports Are Not Just a Category—They Are a Market Engine
Sports events provide three powerful advantages:
· Dense scheduling (daily, sometimes hourly events)
· Strong emotional engagement
· Rapid settlement cycles
This combination allows prediction contracts to function more like short-duration trading instruments than long-dated bets.
What Kalshi’s Growth Actually Represents
The key driver is not necessarily more unique users—it is higher capital turnover per user.
Funds are recycled quickly, positions are adjusted frequently, and participation becomes habitual.
This creates a consumption-driven trading profile:
· Highly scalable
· Strongly frequency-dependent
· Sensitive to user attention cycles
The strategic question for Kalshi is whether this momentum can persist beyond sports-led engagement.
3. Polymarket: Prediction Markets as a Tradable Layer of Public Opinion
If Kalshi’s liquidity comes from rhythm, Polymarket’s comes from narrative.
The Platform’s Real Asset: Topic Selection
Polymarket excels at rapidly listing markets tied to:
· Politics
· Macroeconomics
· Technology narratives
· Crypto-native discourse
These are not merely events—they are ongoing conversations.
As a result, trading activity often reflects:
· Shifting sentiment
· Reaction to news cycles
· Social media-driven momentum
Trading Views, Not Just Outcomes
Much of Polymarket’s activity is not about holding a position to resolution, but about:
· Repositioning
· Hedging evolving beliefs
· Expressing disagreement with consensus pricing
This makes Polymarket resemble a decentralized sentiment exchange.
The long-term challenge is structural:
When everyone is trading opinion, sustaining reliable probabilistic signals becomes increasingly difficult.
4. Opinion: The Growth-Stage Question—Can Activity Become Habit?
Compared with Kalshi and Polymarket, Opinion represents a different phase of market development.
Volume as a Growth Instrument
Opinion’s activity profile reflects a platform still refining its identity:
· Strong emphasis on user acquisition
· Experimentation with incentives and engagement loops
· Rapid scaling attempts
This can generate impressive short-term activity, but volume alone is not decisive.
What Will Matter Over Time
For Opinion, the key metrics are behavioral, not numerical:
· Do users return across unrelated events?
· Does trading persist without explicit incentives?
· Can organic order-book depth form outside peak moments?
Without durable participation patterns, activity risks remaining episodic.
5. From Volume Competition to Structural Competition
Taken together, recent market dynamics reveal something important:
Prediction markets are no longer converging on a single model.
Instead, we are seeing functional divergence:
· Kalshi is industrializing prediction markets through frequency and accessibility
· Polymarket is financializing collective belief and narrative volatility
· Opinion is testing scalable growth mechanics
This shifts the competitive landscape away from raw activity metrics and toward deeper questions:
1. Can liquidity persist outside peak events?
2. Do prices remain interpretable under heavy trading pressure?
3. Is participation driven by genuine demand or temporary stimulus?
Conclusion: The Question Is No Longer Whether Prediction Markets Matter
Prediction markets have moved beyond the stage of proving relevance.
What matters now is what kind of market they become.
Will they evolve into:
· Information-dense pricing mechanisms?
· High-frequency entertainment markets?
· Hybrid instruments blending belief, speculation, and hedging?
The recent surge in activity signals not a destination, but a transition.
The platforms that succeed will not be those that simply trade more—but those that align high participation with meaningful price discovery.
That balance will define the next era of prediction markets.

Giriş: Bitcoin-in problemi heç vaxt dəyərin olmaması olmayıb
Bitcoin-in ən böyük çətinliyi heç vaxt qəbul, likvidlik və ya hətta texnologiya olmayıb.
Bu həmişə iştirakla bağlı olub.
Ən çox BTC sahibləri köprüləşdirmək, sarmaq, borc vermək və ya öz valyutalarını yenidən ipoteka etmək istəmir. Bu, gəlirlər cazibədar olmadığından deyil, amma nəzarəti itirmək Bitcoin-un əsas fəlsəfəsini pozur.
Babylon-un əhəmiyyəti sadə bir anlayışda yatır:
Bitcoin çevik olmağa ehtiyac duymur. Sistemlər Bitcoin-a uyğunlaşmalıdır.
Babylon əslində nə edir

Giriş: Belirsizliyi sona çatdırmalı olan qanun - indi onun içində ilişib qalıb

Rəqəmsal Aktiv Bazarı Aydınlıq Qanunu (CLARITY Act) ABŞ-ın uzun müddət davam edən tənzimləmə qeyri-müəyyənliyini kripto bazar strukturu ətrafında həll etmək üçün indiyə qədərki ən etibarlı cəhd olaraq geniş şəkildə qəbul edilmişdir. Bunun əvəzinə, bu vəzifənin nə qədər çətin olduğu ilə bağlı ən son nümunəyə çevrilmişdir.

ABŞ Senatının Bankçılıq Komitəsində yanvarın 15-nə planlaşdırılan düzəlişdən bir neçə gün əvvəl qanun qəfildən geri çəkildi və təxirə salındı, hazırda müzakirələrin yanvarın sonlarından əvvəl baş verməsi gözlənilmir - və mümkün ola biləcək daha da gecikmələr. Təcili vasitə Coinbase CEO-su Brian Armstrong tərəfindən həyata keçirilən ictimai müdaxilə oldu, o, hazırkı layihənin “heç bir qanundan daha pis olduğunu” bildirdi.

Təqdimat: sürətli böyüməyə uğramış Layer 1 üçün stress testi
Sui blokqrafiyası, təxminən altı saatlıq şəbəkə kəsilməsindən sonra normal fəaliyyətə bərpa edildi, bu hadisə müvəqqəti olaraq məlumatların göndərilməsini və 1 milyard dollarlıq onlayn dəyər əhatə edən fəaliyyətləri dayandırdı.
Şəbəkənindən mənfi market fəlakəti olmamaqla, nəticədə bərpa edildi, ancaq bu hadisə Sui üçün 2023-cü ildə əsas şəbəkəyə çıxandan bəri ikinci əsas sistem səhvi olub və yüksək performanslı blokqrafiya dizaynında mövcud olan mübadilələr barədə daha geniş suallar yaradır.

Təqdimat: Proqnoz bazarları sürətlə inkişaf edir
Enter və ya görüntüyü tam ölçülü baxmaq üçün klikləyin
2025-ci ildə proqnoz bazarları həqiqi sərhədi keçdilər. Ticarət həcmi təqribən 50 milyard $+ qədər artıb, istifadəçi iştirakı böyük miqdarda genişlənib və iki aydın lider — Kalshi və Polymarket — “iki mərkəzli” bazar strukturasını möhkəmləndirdilər. Eyni zamanda, ABŞ-da tənzimləmə tínləri daha aydın olub, institusiya likvidliyi görünməyə başlayıb və sabit bir global hadisələr ritmi daimi qüvvət təmin edib.

Birinci dəfə Andreessen Horowitz (@a16zcrypto ) 2025-ci ildə 15 milyard dollar topladığını gördüm, reaksiyam “əsərli” deyil idi.
Bəlkə də qarışıqlıq idi.

Bu, çox sayı 2017-dən bəri ən zəif ABŞ sənaye fondları toplama mühitində baş verdi. ABŞ-da sənaye fondları toplama ümumiyyətlə 66 milyard dollar-a endi — il ərzində 35% azalma. Və belə olsa belə, a16z yalnızca illik ümumi məbləğin təxminən 18%-ni əldə etdi.

Daha maraqlısı, Ben Horowitz bu məsələni normal bir toplama uğuru kimi təqdim etmədi. Onun bu məsələni ABŞ–Çin müqavimətindən asılı olaraq qurduğu və AI və kripto “gələcək infrastrukturun kritik elementləri” kimi təsvir etdiyi aydın oldu.