Setting aside prejudice, Sun Ge's insight in business is indeed ahead of the times. The key to the rise of the wave field lies in seizing the "distribution dividend" of the USDT 1.0 era. 1/Narrative of the "Dollar Distribution Layer" in the Wave Field Before 2019, USDT mainly ran on Bitcoin and Ethereum, which were expensive and slow. Sun Yuchen keenly realized that stablecoins require a "fast and inexpensive" transfer layer. He used huge subsidies and extremely aggressive commercial methods to make TRON the largest distribution network for USDT, and TRC-20 USDT became the hard currency for cross-border transfers, daily payments, and gambling settlements in Southeast Asia, Latin America, Russian speaking regions, and other regions. With the wave field carrying billions of dollars in USDT liquidity, Sun Yuchen has transformed into the leader of the world's largest "dollar distribution layer". But everything is quietly changing. 2/Stable - M2M Vision and AI Agent's' Settlement Homeport ' The problem is that public chains like Wave Field still adhere to a "person to person" payment logic, but the largest user group for stablecoins in the future may not be humans. Tether CEO Paolo Ardoino has repeatedly predicted that in the next 15 years, the largest consumer of stablecoins will no longer be humans, but AI agents. There is a huge gap between this possible future and reality: The traditional banking system: cannot provide account opening and clearing services for non-human entities on the underlying architecture. Traditional public blockchains, such as wavefield or Ethereum, are too cumbersome for AI. And this is precisely the strategic background of the birth of Stable. It is not another public chain that pursues universal computing, but a specialized L1 designed from the physical layer for "stablecoin native payments" and "machine economy". Core endorsement and ecological layout Stable is not a solo effort, it is backed by the collective support of Tether's vast investment portfolio Paolo Ardoino's personal appointment as a public advisor is an extremely rare act of exclusive endorsement. Core invested projects migration: Currently, Tether's core invested projects are showing a trend towards stable migration, including Payment grade application Oobit Development Component WDK Cross chain protocol LayerZero Hosting giant Anchorage Project progress and delivery capability V1.2.0 major upgrade (completed in February 2026): officially establishing USDT0 as the native Gas token. For AI agents that require minimalist settlement logic, it is currently the only "production grade" option in the world. StablePay (soon to be released): As a consumer application designed specifically for daily transactions, StablePay attempts to bring this "frictionless" payment experience to over 500 million USDT users worldwide. 3/The best entry point to obtain Tether ecological dividends Based on the above background, Stable has become one of the best entry points in the market to obtain the ecological dividends of Tether. Tether has generated a net profit of over $15 billion by 2025, surpassing Goldman Sachs and Bank of America in terms of profitability. But as a profit monster that neither issues coins nor goes public, ordinary people can hardly reach its dividends except for Stable. If Sun Yuchen and Wave Field have seized the "channel distribution dividend" of the USDT 1.0 era, then what Stable is doing is to lock in the "machine settlement infrastructure" of the USDT 2.0 era.