#稳定币应用与发展 Phantom's recent moves are worth paying attention to. With a $3 billion valuation, they are taking a three-pronged approach involving stablecoins, debit cards, and prediction markets, essentially filling the financial closed-loop in the wallet ecosystem. From on-chain data, pure asset management is no longer sufficient to maintain user stickiness, especially as the Solana ecosystem faces increased volatility and exchange-based wallets encroach on market share.

I remain cautious about the application of stablecoins. If Phantom can reduce cross-chain settlement costs and improve multi-chain liquidity efficiency through its own stablecoin, it will provide practical benefits for whale capital's cross-chain deployment. The key is the depth of stablecoin application—if it’s only circulating within the ecosystem and competing on trading platforms, there’s no fundamental difference. But if it can integrate lending, derivatives, and other DeFi layers, it can form a true moat.

The debit card component is more of an exit-layer supplement, while prediction markets are aimed at user retention. How the synergy among these three directions plays out depends on subsequent data feedback on capital inflows and outflows. Recently, focus can be placed on tracking the growth of stablecoin holdings within the Phantom ecosystem and changes in on-chain contract interaction frequency, as these indicators can more intuitively reflect the effectiveness of the strategy.