📢 #Gate Square Writing Contest Phase 3# is officially kicks off!
🎮 This round focuses on: Yooldo Games (ESPORTS)
✍️ Share your unique insights and join promotional interactions. To be eligible for any reward, you must also participate in Gate’s Phase 286 Launchpool, CandyDrop, or Alpha activities!
💡 Content creation + airdrop participation = double points. You could be the grand prize winner!
💰Total prize pool: 4,464 $ESPORTS
🏆 First Prize (1 winner): 964 tokens
🥈 Second Prize (5 winners): 400 tokens each
🥉 Third Prize (10 winners): 150 tokens each
🚀 How to participate:
1️⃣ Publish an
JD.com and Ant Group propose a yuan stablecoin to counter USDT
JD.com and Ant Group are urging the People's Bank of China to allow the issuance of a yuan-pegged stablecoin in Hong Kong, in order to counter the dominance of USD stablecoins like USDT.
Two companies have planned to launch the HKD stablecoin after August 1, but believe that a CNH stablecoin is needed to promote the internationalization of the renminbi and reduce dependence on USD.
Currently, over 99% of global stablecoins are pegged to USD. The trading of USDT for commerce in China has increased fivefold since 2021. Export businesses are increasingly turning to USD stablecoins due to concerns over capital controls and exchange rate volatility.