Last night, the market value of Circle's IPO soared from over 6 billion US dollars to nearly 20 billion US dollars, indicating the market's enthusiasm for stablecoins after the stablecoin bill. The basis outlined in the GENIUS Act is the payment of stablecoins, which are of course fiat currencies backed by US dollars or US Treasury bonds as reserves. However, encrypted native decentralized stablecoins are not within the framework of the stablecoin bill and have their own value and application scenarios. The positioning of decentralized stablecoins has undergone many changes, shifting from transaction media and payment scenarios to application scenarios for financial returns. On the strategy side, it can be well combined and assembled to participate in DeFi scenarios, which is much more flexible than traditional fiat stablecoins. The USV mentioned in Uncle Cat's tweet is to create a native decentralized stablecoin project (@ convergent_so) protocol token CVGT belonging to SOL, which is very suitable for this scenario. Uncle Cat's tweet explained the specific mechanism in detail. I have also noticed CVGT and two top DeFi companies backed by jto and pyth in the Solana ecosystem on the chain before, and their backgrounds should be quite impressive. The CVGT token is the protocol token for the upcoming release of the USV stablecoin. After the USV stablecoin is launched, the transaction fees generated from stablecoin trading will be used to repurchase and destroy CVGT. If the issuance and trading volume of USVs increase in the future, it is equivalent to CVGT having sufficient value support. More importantly, as the protocol token of the only decentralized stablecoin project on the Solana platform, it seems that the project team will develop into the governance token of the only defi platform in the SOL ecosystem in the future, and the development space is promising. Moreover, the token CVGT was launched through a cold start on the chain and did not go public with high valuations like other projects from the beginning. The trend is also relatively stable, clearly hoping that the second level can also enjoy the space for project growth. This approach may become the mainstream model for the growth and development of cryptocurrency projects in the future. Not intended as investment advice, but the subsequent development of the project deserves continuous attention.