Wow, sisters, after chatting with a few friends involved in on-chain commodity trading and reading the new announcements from @Aster_DEX and @worldlibertyfi, my whole perspective has been completely reshaped.

Previously, including myself, I thought that the more stablecoins you choose for perpetual settlement, the more convenient it would be for users, and the better the liquidity should be. But they directly dropped the line: Not alongside USDT. Exclusively. — It’s not about supporting USD1 as well, but about using USD1 exclusively. This isn’t a small update; it’s a complete rewrite of the rules.

Having more stablecoins sounds friendly, but in high-leverage derivatives, it’s actually digging a hole for yourself. The same gold perpetual, with A using USDT, B using USDC, C using USD1, liquidity gets sliced into pieces, order books become shallow, slippage increases, and market makers find quoting difficult. It’s not flexibility; it’s turning a deep pool into several shallow ponds.

Aster’s logic for choosing USD1 is really interesting. They’re not aiming to go into the mature USDT ecosystem as a supporting player, but rather to set the rules together with USD1, which is still in expansion. The official says they want deep integration of the token ecosystem—that’s true co-creation, not just renting existing infrastructure. Taker fees are only 1bps, and makers get a -0.5bps rebate, directly subsidizing market makers to pull liquidity into the USD1 pool. Once the flywheel starts turning, it can’t stop.

As a girl who’s not really into the hype, I find this move both fierce and attractive, haha. But exclusivity is a double-edged sword. If USD1 encounters some extreme situation someday, the entire RWA perpetual settlement layer could be exposed. I hope they clarify the hedging mechanisms further so everyone can play safely.

Essentially, this wave shows that stablecoin competition has shifted from “who’s bigger and more stable” to “who can define the valuation and settlement rules for the RWA market”—the scale is completely different.

Who among you has traded commodity perpetuals on-chain? Have you ever been hurt by liquidity fragmentation across multiple stablecoins, causing painful slippage? Share your real experience in the comments.

@worldlibertyfi @Aster_DEX #WLFI USD1 #RWA AsterDEX #链上商品 Stablecoins#Gate广场四月发帖挑战