Major Event: The U.S. Senate Passes the "GENIUS Act," Ushering in a "Great Age of Exploration" for the Stablecoin Industry

On May 20, the U.S. stablecoin legislation, the "GENIUS Act," was passed in the Senate. It now only requires a vote in the House of Representatives and the President's signature to officially take effect. Its formal passage is just a matter of time.

1/ Long-term Outlook

The act brings regulatory clarity and compliance, benefiting the entire crypto industry;

Traditional financial institutions and giants may enter the market, and compliant USD stablecoins will further intensify competition;

The dollar will continue to achieve global expansion on-chain (currently, the total amount of stablecoins only accounts for 1.1% of the dollar supply).

2/ For @levelusd, this is a significant advantage.

Firstly, unlike other yield-bearing stablecoins, $lvlUSD can only be minted through USDC or USDT, eliminating regulatory concerns (the GENIUS Act mandates a 1:1 full asset backing for stablecoins).

Secondly, Level, as the "yield nesting layer" for stablecoins, will not compete with any compliant USD stablecoins that may be launched in the future, but can instead leverage its momentum for growth.

Currently, Level's TVL is $180 million, and compared to Ethena, there is still a minimum growth potential of 30 times. The official team has also been working hard on integration, such as the recently launched Steakhouse USDC treasury, which is supported by Morpho's technology and aims to strengthen the Level ecosystem.

Through this treasury, users can:

Earn USDC lending yields

Enjoy 5x Level XP acceleration rewards

Participation is encouraged; it has been mentioned multiple times.

The great age of exploration for stablecoins is about to arrive, and we are both witnesses and participants.

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