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2025.12.9 Early 10:39 BTC/ETH Today's Trend Analysis
Last night, BTC hit 89700 and shouted until hoarse to get you to take action and go long. Those who listened made profits, while those who didn't could only stare blankly. In the early morning, it rebounded to a maximum of 91338, creating a space of 1660+, enough for 800/1500 to take profit. Last night it was already mentioned that you can skip setting a stop loss, but you must set a take profit, for example, 40% at 90500, and 40% at 90800-91200! At this moment, isn't this just taking profits in batches and leaving a base position? Once the stop loss is set, it turns into a 0-risk gamble!
BTC
Support 87250/82845
Resistance 96422/102400
Key Points 88035/92228 The current trend has a hint of an explosion; it gives you a weak and sluggish trend, making you feel like it can't go up, and it even repeatedly tries to trap you with deep squats, at least for today and tomorrow I still maintain an optimistic attitude. Whether the specific Federal Reserve interest rate decision will change predictions will have to wait and see the trend after it lands; based on the current trend, if it doesn't break the level, it will eventually touch 96422 and 102400 again!
ETH
Support 2941/2749
Resistance 3400/3592
3170 has been tested multiple times; whether it will test below 3000 again can be quietly awaited. In the next test, it will be another opportunity to get on board;
Operation: Isn't a surge and plunge exactly the market you like? Without volatility, there is no profit effect; even with volatility, you still aren’t making money. This isn’t a market issue; the fundamental reason for not making money is your own operational issues;
Position size depends on how much you can bear, depending on how much capital you have left after losses and how many opportunities you have. Many people often confuse this. Today, continue to find opportunities for a long position during the deep squats, and maintain a bit of patience at moments without pullbacks!
#美联储降息 #$BTC $GTC $ETH
Last night, BTC hit 89700 and shouted until hoarse to get you to take action and go long. Those who listened made profits, while those who didn't could only stare blankly. In the early morning, it rebounded to a maximum of 91338, creating a space of 1660+, enough for 800/1500 to take profit. Last night it was already mentioned that you can skip setting a stop loss, but you must set a take profit, for example, 40% at 90500, and 40% at 90800-91200! At this moment, isn't this just taking profits in batches and leaving a base position? Once the stop loss is set, it turns into a 0-risk gamble!
BTC
Support 87250/82845
Resistance 96422/102400
Key Points 88035/92228 The current trend has a hint of an explosion; it gives you a weak and sluggish trend, making you feel like it can't go up, and it even repeatedly tries to trap you with deep squats, at least for today and tomorrow I still maintain an optimistic attitude. Whether the specific Federal Reserve interest rate decision will change predictions will have to wait and see the trend after it lands; based on the current trend, if it doesn't break the level, it will eventually touch 96422 and 102400 again!
ETH
Support 2941/2749
Resistance 3400/3592
3170 has been tested multiple times; whether it will test below 3000 again can be quietly awaited. In the next test, it will be another opportunity to get on board;
Operation: Isn't a surge and plunge exactly the market you like? Without volatility, there is no profit effect; even with volatility, you still aren’t making money. This isn’t a market issue; the fundamental reason for not making money is your own operational issues;
Position size depends on how much you can bear, depending on how much capital you have left after losses and how many opportunities you have. Many people often confuse this. Today, continue to find opportunities for a long position during the deep squats, and maintain a bit of patience at moments without pullbacks!
#美联储降息 #$BTC $GTC $ETH
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Liangqiu: 12.8 Bitcoin/Ethereum fluctuates back and forth, what is the main intention?
Bitcoin and Ethereum successfully built up long positions yesterday, gaining a decent range from 3040 shorts to 2910, and from above 3130 in the early morning to around 3010, giving a good range. Currently, both show a trend of rebound after hitting a bottom, with macro factors like the Federal Reserve's interest rate cut expectations influencing the fierce tug-of-war between bulls and bears. Bitcoin's price trend is highly volatile, rebounding to 91720 after hitting a bottom of 87688 overnight, then falling back and oscillating above 90000. From a technical perspective, the daily MACD is expanding upward, indicating a bullish trend, with the EMA30 resistance at 93600, and the upper Bollinger Band focusing on 94500; the four-hour MACD is about to end its contraction, and after breaking 92000, the DIF and DEA are expected to form a golden cross. The current core fluctuation range is between 87000 and 92000, with strong buying support in the 87500 to 88000 region, and 92600 above is a key breakout point, which may continue the upward trend after breaking.
Ethereum simultaneously plays out a rebound after hitting a bottom, with a minimum touching near 2910, then a V-shaped rebound to around 3160, an increase of over 8%. Currently, after a pullback, it has rebounded again to around 3130 for consolidation. The technical aspect shows that the daily MACD bullish momentum has somewhat diminished, and the four-hour line had previously shown an inducement for shorts; resistance above focuses on around 3180 to 3200, with further resistance at 3250; the core support below is the psychological level of 3000, and 2900 to 2950 is an important bullish defense line, where the effectiveness of this support will determine the subsequent direction of bulls and bears.
Operational suggestions: Short Bitcoin around 91600 to 92000, target near 89500; short Ethereum around 3140 to 3160, target near 3060, nephew 93300 and 3220.
Daily analysis and strategy have a high win rate and can be seen. The analysis and strategy are for reference only; please bear the risk. The article review and publication do not have timeliness, and specifics are subject to real-time! #美联储降息 prediction##SUIETF
$BTC $ETH
Bitcoin and Ethereum successfully built up long positions yesterday, gaining a decent range from 3040 shorts to 2910, and from above 3130 in the early morning to around 3010, giving a good range. Currently, both show a trend of rebound after hitting a bottom, with macro factors like the Federal Reserve's interest rate cut expectations influencing the fierce tug-of-war between bulls and bears. Bitcoin's price trend is highly volatile, rebounding to 91720 after hitting a bottom of 87688 overnight, then falling back and oscillating above 90000. From a technical perspective, the daily MACD is expanding upward, indicating a bullish trend, with the EMA30 resistance at 93600, and the upper Bollinger Band focusing on 94500; the four-hour MACD is about to end its contraction, and after breaking 92000, the DIF and DEA are expected to form a golden cross. The current core fluctuation range is between 87000 and 92000, with strong buying support in the 87500 to 88000 region, and 92600 above is a key breakout point, which may continue the upward trend after breaking.
Ethereum simultaneously plays out a rebound after hitting a bottom, with a minimum touching near 2910, then a V-shaped rebound to around 3160, an increase of over 8%. Currently, after a pullback, it has rebounded again to around 3130 for consolidation. The technical aspect shows that the daily MACD bullish momentum has somewhat diminished, and the four-hour line had previously shown an inducement for shorts; resistance above focuses on around 3180 to 3200, with further resistance at 3250; the core support below is the psychological level of 3000, and 2900 to 2950 is an important bullish defense line, where the effectiveness of this support will determine the subsequent direction of bulls and bears.
Operational suggestions: Short Bitcoin around 91600 to 92000, target near 89500; short Ethereum around 3140 to 3160, target near 3060, nephew 93300 and 3220.
Daily analysis and strategy have a high win rate and can be seen. The analysis and strategy are for reference only; please bear the risk. The article review and publication do not have timeliness, and specifics are subject to real-time! #美联储降息 prediction##SUIETF
$BTC $ETH
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#ETH Trend Analysis# On December 7th, short positions for Ethereum were already established.
Tonight, keep a close eye on the 2900 level. From a technical perspective, there is a significant possibility of accelerated decline in the evening session. The logic is simple: the system has marked the area of concentrated long positions, and if this area cannot hold, considering the current proportion of long entries, there is a strong likelihood of accelerated sell-off in the evening.
The key is whether it can break that support; if it does, the trend will be downward all the way. $ETH
Tonight, keep a close eye on the 2900 level. From a technical perspective, there is a significant possibility of accelerated decline in the evening session. The logic is simple: the system has marked the area of concentrated long positions, and if this area cannot hold, considering the current proportion of long entries, there is a strong likelihood of accelerated sell-off in the evening.
The key is whether it can break that support; if it does, the trend will be downward all the way. $ETH
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A single-day surge of 95% followed by a drop of 61%, the $H token has demonstrated an experiment in a future identity paradigm to the market through extreme volatility, and it is also a highly risky capital game.
In the morning, sunlight filters through the office glass windows, and the fingerprint recognition device at the fingertips of the $H project founder flickers slightly, which may be a way for hundreds of millions of people to verify themselves as 'real humans' in the future.
At the same time, on the trading screen, the price of the $H token is fluctuating violently, with a daily trading volume reaching an astonishing $420 million, as retail investors chase the airdrop activities while being wary of the large-scale token unlock on the 25th of each month.
Since the $H project announced it had secured $30 million in funding led by Pantera Capital and reached a valuation of $1.1 billion, opinions in the market regarding this project aimed at establishing a 'human identity verification layer' have become polarized.
Supporters see a revolutionary solution to prevent identity fraud in the AI era; skeptics see a speculative tool with extreme volatility, dubbed a 'meme coin.'
In the morning, sunlight filters through the office glass windows, and the fingerprint recognition device at the fingertips of the $H project founder flickers slightly, which may be a way for hundreds of millions of people to verify themselves as 'real humans' in the future.
At the same time, on the trading screen, the price of the $H token is fluctuating violently, with a daily trading volume reaching an astonishing $420 million, as retail investors chase the airdrop activities while being wary of the large-scale token unlock on the 25th of each month.
Since the $H project announced it had secured $30 million in funding led by Pantera Capital and reached a valuation of $1.1 billion, opinions in the market regarding this project aimed at establishing a 'human identity verification layer' have become polarized.
Supporters see a revolutionary solution to prevent identity fraud in the AI era; skeptics see a speculative tool with extreme volatility, dubbed a 'meme coin.'
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Outlook for the Next Three Years: Can FalconFinance Become a CeDeFi Giant?
2026: RWA ecosystem takes shape
The core goal is to land the RWA engine and break through institutional clients: plan to access $2 billion RWA assets, covering categories such as government bonds, corporate bonds, and private credit; the number of institutional clients exceeds 500, contributing 40% of transaction volume; gold redemption services cover 20 cities, with a physical exchange scale reaching $1 billion. Technologically, complete modular architecture upgrades to support rapid iteration of functions. If the goal is achieved, the circulation of USDf is expected to exceed $5 billion, and the valuation of FF tokens may triple.
2027: Global network implementation
Advance the '100 countries compliance + all asset categories' strategy: obtain operating licenses in 50 countries worldwide, with fiat currency channels covering major economies; expand the RWA ecosystem to include tokenized stocks, REITs, and other equity assets, with physical redemption adding categories like silver and platinum. Launch a decentralized exchange and asset management platform to form a complete ecosystem of 'stablecoin-asset-trading'. The target TVL exceeds $10 billion, ranking among the top three global CeDeFi projects.
The core goal is to land the RWA engine and break through institutional clients: plan to access $2 billion RWA assets, covering categories such as government bonds, corporate bonds, and private credit; the number of institutional clients exceeds 500, contributing 40% of transaction volume; gold redemption services cover 20 cities, with a physical exchange scale reaching $1 billion. Technologically, complete modular architecture upgrades to support rapid iteration of functions. If the goal is achieved, the circulation of USDf is expected to exceed $5 billion, and the valuation of FF tokens may triple.
2027: Global network implementation
Advance the '100 countries compliance + all asset categories' strategy: obtain operating licenses in 50 countries worldwide, with fiat currency channels covering major economies; expand the RWA ecosystem to include tokenized stocks, REITs, and other equity assets, with physical redemption adding categories like silver and platinum. Launch a decentralized exchange and asset management platform to form a complete ecosystem of 'stablecoin-asset-trading'. The target TVL exceeds $10 billion, ranking among the top three global CeDeFi projects.
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The Path to Regulatory Compliance: FalconFinance's Global Licensing Endeavors
Compliance Breakthroughs in Europe and America
The European market has obtained payment service licenses from the Luxembourg Financial Supervisory Authority, meeting the MiCA framework requirements for stablecoins, and becoming the first CeDeFi stablecoin project to operate in compliance within the EU. The U.S. market is advancing license applications under the GENIUS Act and communicating with the SEC regarding the compliance of tokenization of RWA assets, focusing on demonstrating that on-chain circulation of government bonds, corporate bonds, and other assets complies with existing regulatory frameworks. Currently, licenses for money transfers have been obtained in 3 U.S. states, paving the way for services to institutional clients.
Flexible Adaptation in Emerging Markets
For regions with complex regulatory environments such as Latin America and Turkey, a strategy of 'localized cooperation + step-by-step compliance' is adopted: establishing fiat currency channels in collaboration with local licensed payment institutions to avoid direct operational risks; applying for digital currency service licenses in countries like Brazil and Mexico, with 5 temporary licenses currently obtained. The Middle East market has gained special permission from the UAE Financial Services Regulatory Authority through innovative gold redemption services, becoming a regional compliance benchmark.
The European market has obtained payment service licenses from the Luxembourg Financial Supervisory Authority, meeting the MiCA framework requirements for stablecoins, and becoming the first CeDeFi stablecoin project to operate in compliance within the EU. The U.S. market is advancing license applications under the GENIUS Act and communicating with the SEC regarding the compliance of tokenization of RWA assets, focusing on demonstrating that on-chain circulation of government bonds, corporate bonds, and other assets complies with existing regulatory frameworks. Currently, licenses for money transfers have been obtained in 3 U.S. states, paving the way for services to institutional clients.
Flexible Adaptation in Emerging Markets
For regions with complex regulatory environments such as Latin America and Turkey, a strategy of 'localized cooperation + step-by-step compliance' is adopted: establishing fiat currency channels in collaboration with local licensed payment institutions to avoid direct operational risks; applying for digital currency service licenses in countries like Brazil and Mexico, with 5 temporary licenses currently obtained. The Middle East market has gained special permission from the UAE Financial Services Regulatory Authority through innovative gold redemption services, becoming a regional compliance benchmark.
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User Profile Evolution: The Customer Evolution Journey of FalconFinance
Early stage: Primarily crypto natives
At the initial launch in Q2 2025, users were primarily seasoned DeFi players, accounting for 78%, with core needs focused on the high yields of sUSDf and speculative price increase expectations for FF tokens. During this stage, the average holding of FF tokens reached 500,000, with high trading frequency, and the 24-hour turnover rate once exceeded 20%. The Buidlpad community's sale attracted users from 141 countries, 60% of whom came from the mature crypto ecosystems of North America and Europe.
Mid-term: Traditional investors are pouring in
Trust restoration and ecological landing after the plunge of FF tokens attracts traditional investors: Among new users in Q4 2025, 35% are traditional financial users who are encountering crypto assets for the first time, with a core demand for the stability of USDf and its gold redemption function. Among gold redemption users in the UAE market, 40% are jewelers and precious metal investors, using USDf as a convenient medium for gold transactions. At this stage, user holdings are more diversified, with the average holding of FF tokens dropping to below 100,000.
At the initial launch in Q2 2025, users were primarily seasoned DeFi players, accounting for 78%, with core needs focused on the high yields of sUSDf and speculative price increase expectations for FF tokens. During this stage, the average holding of FF tokens reached 500,000, with high trading frequency, and the 24-hour turnover rate once exceeded 20%. The Buidlpad community's sale attracted users from 141 countries, 60% of whom came from the mature crypto ecosystems of North America and Europe.
Mid-term: Traditional investors are pouring in
Trust restoration and ecological landing after the plunge of FF tokens attracts traditional investors: Among new users in Q4 2025, 35% are traditional financial users who are encountering crypto assets for the first time, with a core demand for the stability of USDf and its gold redemption function. Among gold redemption users in the UAE market, 40% are jewelers and precious metal investors, using USDf as a convenient medium for gold transactions. At this stage, user holdings are more diversified, with the average holding of FF tokens dropping to below 100,000.
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Competing with similar projects: FalconFinance's differentiated competitiveness
Comparison with MakerDAO: RWA layout is more in-depth.
MakerDAO's RWA is primarily based on government bonds, while FalconFinance has formed a diversified RWA system of 'government bonds + corporate bonds + gold', achieving on-chain minting of government bonds in July 2025, and will connect to private credit in 2026. USDf's 116% collateralization rate is higher than MakerDAO's 110%, and it supports more types of collateral assets, including ETH, stablecoins, and tokenized assets, resulting in better capital efficiency. The gold redemption service is an area that MakerDAO has not yet ventured into, creating a unique competitive barrier.
Comparison with Aave: the stablecoin ecosystem is more complete.
Aave focuses on lending scenarios, while FalconFinance builds a closed loop of 'stablecoin minting - earning - physical redemption': sUSDf's 9.30% APY is higher than Aave USDC's 3.2%, and the sources of income are more diversified; the fiat channel and gold exchange make USDf's practical application scenarios far exceed Aave's on-chain lending. The governance and yield binding mechanism of the FF token also incentivizes long-term holding more than Aave's governance token, leading to stronger ecological stickiness.
MakerDAO's RWA is primarily based on government bonds, while FalconFinance has formed a diversified RWA system of 'government bonds + corporate bonds + gold', achieving on-chain minting of government bonds in July 2025, and will connect to private credit in 2026. USDf's 116% collateralization rate is higher than MakerDAO's 110%, and it supports more types of collateral assets, including ETH, stablecoins, and tokenized assets, resulting in better capital efficiency. The gold redemption service is an area that MakerDAO has not yet ventured into, creating a unique competitive barrier.
Comparison with Aave: the stablecoin ecosystem is more complete.
Aave focuses on lending scenarios, while FalconFinance builds a closed loop of 'stablecoin minting - earning - physical redemption': sUSDf's 9.30% APY is higher than Aave USDC's 3.2%, and the sources of income are more diversified; the fiat channel and gold exchange make USDf's practical application scenarios far exceed Aave's on-chain lending. The governance and yield binding mechanism of the FF token also incentivizes long-term holding more than Aave's governance token, leading to stronger ecological stickiness.
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Revealing the Governance of the Foundation: The Ecological Control Behind 32.2% of Tokens
The core functions of the foundation
The Falcon Foundation, which holds 32.2% of the FF tokens, plays the role of 'ecological operator': responsible for the execution of token distribution, strictly controlling the unlocking pace of 20% of the team shares, setting an 18-month linear unlocking period; leading risk management, rapidly coordinating capital injection and exchange stabilization during the crisis in September 2025; promoting compliance arrangements, establishing communication mechanisms with regulatory authorities in 12 countries worldwide. The foundation implements a council system, with 4 out of 7 directors coming from external independent institutions to ensure decision-making neutrality.
Transparent mechanism for fund usage
The foundation's funds are divided into three major pools: 60% for ecological subsidies, such as rewards for the Yap2Fly initiative and liquidity incentives for DeFi platforms; 30% directed towards technological research and development, with a focus on supporting RWA engine development; 10% set aside as an emergency reserve. Financial reports are published quarterly, disclosing fund flow and usage effectiveness. In Q3 2025, ecological subsidies drove a 23% increase in USDf circulation, with a return on investment ratio of 1:5. The community can vote with FF tokens to veto unreasonable fund usage; a certain R&D budget proposal was rejected in October 2025 due to insufficient cost-effectiveness.
The Falcon Foundation, which holds 32.2% of the FF tokens, plays the role of 'ecological operator': responsible for the execution of token distribution, strictly controlling the unlocking pace of 20% of the team shares, setting an 18-month linear unlocking period; leading risk management, rapidly coordinating capital injection and exchange stabilization during the crisis in September 2025; promoting compliance arrangements, establishing communication mechanisms with regulatory authorities in 12 countries worldwide. The foundation implements a council system, with 4 out of 7 directors coming from external independent institutions to ensure decision-making neutrality.
Transparent mechanism for fund usage
The foundation's funds are divided into three major pools: 60% for ecological subsidies, such as rewards for the Yap2Fly initiative and liquidity incentives for DeFi platforms; 30% directed towards technological research and development, with a focus on supporting RWA engine development; 10% set aside as an emergency reserve. Financial reports are published quarterly, disclosing fund flow and usage effectiveness. In Q3 2025, ecological subsidies drove a 23% increase in USDf circulation, with a return on investment ratio of 1:5. The community can vote with FF tokens to veto unreasonable fund usage; a certain R&D budget proposal was rejected in October 2025 due to insufficient cost-effectiveness.
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History of Technical Architecture Upgrades: The Cross-Chain and Security Evolution of FalconFinance
Limitations and breakthroughs of the early architecture
In the early stages of the project, a single Ethereum deployment faced high Gas fees and insufficient throughput. In Q2 2025, a multi-chain upgrade was completed, deploying USDf to five mainstream public chains including BSC and Polygon, reducing transaction costs by 70% and increasing TPS to 300 transactions per second. After introducing the Chainlink CCIP cross-chain protocol, decentralized verification of cross-chain assets was achieved, addressing security risks of multi-chain deployment, with a cross-chain transaction success rate of 99.9%.
Multi-layer construction of the security system
Establish a triple security defense of 'smart contract auditing + on-chain monitoring + insurance safety net': organizations like Zellic and Trail of Bits conduct quarterly audits on core contracts, discovering and fixing a total of 12 potential vulnerabilities; real-time monitoring of collateral asset prices through Chainlink Price Feeds automatically triggers circuit breakers during abnormal fluctuations; a $10 million on-chain insurance fund provides compensation guarantees for extreme risks. Successfully defended against a flash loan attack in November 2025, proving the security system's resilience in real-world tests.
In the early stages of the project, a single Ethereum deployment faced high Gas fees and insufficient throughput. In Q2 2025, a multi-chain upgrade was completed, deploying USDf to five mainstream public chains including BSC and Polygon, reducing transaction costs by 70% and increasing TPS to 300 transactions per second. After introducing the Chainlink CCIP cross-chain protocol, decentralized verification of cross-chain assets was achieved, addressing security risks of multi-chain deployment, with a cross-chain transaction success rate of 99.9%.
Multi-layer construction of the security system
Establish a triple security defense of 'smart contract auditing + on-chain monitoring + insurance safety net': organizations like Zellic and Trail of Bits conduct quarterly audits on core contracts, discovering and fixing a total of 12 potential vulnerabilities; real-time monitoring of collateral asset prices through Chainlink Price Feeds automatically triggers circuit breakers during abnormal fluctuations; a $10 million on-chain insurance fund provides compensation guarantees for extreme risks. Successfully defended against a flash loan attack in November 2025, proving the security system's resilience in real-world tests.
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Institutional Fund Entry Record: FalconFinance's B-end Service Breakthrough
Precise matching of institutional demands
FalconFinance has launched three core services for institutional clients: first, the USDf liquidity management solution, providing 24/7 millisecond-level settlement and customized redemption limits to meet the high-frequency trading needs of hedge funds; second, the RWA asset tokenization service, helping banks convert corporate bonds into on-chain assets, reducing circulation costs; third, the compliance reporting system, which automatically generates audit reports that meet MiCA and SEC requirements. These services precisely address the pain points of institutions: 'compliance difficulties, low efficiency, and high costs.'
Benchmark client case study
FalconFinance has launched three core services for institutional clients: first, the USDf liquidity management solution, providing 24/7 millisecond-level settlement and customized redemption limits to meet the high-frequency trading needs of hedge funds; second, the RWA asset tokenization service, helping banks convert corporate bonds into on-chain assets, reducing circulation costs; third, the compliance reporting system, which automatically generates audit reports that meet MiCA and SEC requirements. These services precisely address the pain points of institutions: 'compliance difficulties, low efficiency, and high costs.'
Benchmark client case study
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Insights from the gold exchange pilot: How USDf links to the physical asset market
Details of the pilot project in the UAE
The gold redemption service in the UAE, launched in September 2025, adopts an 'on-chain application - offline withdrawal' model: users initiate redemption requests on the FalconFinance platform, after which the smart contract locks the corresponding USDf and generates a withdrawal certificate from the custodian. With this certificate, LBMA-certified gold bars can be withdrawn within 48 hours. The redemption threshold is set at 1000 USDf (approximately 1 gram of gold), processing 12,000 requests in the first month, with a transaction volume of 20 million USD, predominantly involving small and medium-sized business owners and high-net-worth individuals.
The core value of model innovation
The gold exchange service has achieved three breakthroughs: first, it addresses the concerns of stablecoins 'decoupling', with physical asset backing ensuring that USDf maintains a 1:1 peg during fluctuations in the cryptocurrency market; second, it expands application scenarios, extending from a medium of exchange to an asset reserve tool; third, it attracts traditional funds to enter the market, with 30% of redeeming users being gold investors who are new to cryptocurrency assets. This model also lowers the investment threshold for gold, where traditional physical gold investments typically start at 10 grams, while USDf exchanges have no minimum limit.
The gold redemption service in the UAE, launched in September 2025, adopts an 'on-chain application - offline withdrawal' model: users initiate redemption requests on the FalconFinance platform, after which the smart contract locks the corresponding USDf and generates a withdrawal certificate from the custodian. With this certificate, LBMA-certified gold bars can be withdrawn within 48 hours. The redemption threshold is set at 1000 USDf (approximately 1 gram of gold), processing 12,000 requests in the first month, with a transaction volume of 20 million USD, predominantly involving small and medium-sized business owners and high-net-worth individuals.
The core value of model innovation
The gold exchange service has achieved three breakthroughs: first, it addresses the concerns of stablecoins 'decoupling', with physical asset backing ensuring that USDf maintains a 1:1 peg during fluctuations in the cryptocurrency market; second, it expands application scenarios, extending from a medium of exchange to an asset reserve tool; third, it attracts traditional funds to enter the market, with 30% of redeeming users being gold investors who are new to cryptocurrency assets. This model also lowers the investment threshold for gold, where traditional physical gold investments typically start at 10 grams, while USDf exchanges have no minimum limit.
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FF Token Price Review: From a 75% Plunge to Stabilization and Recovery Logic
Analysis of the causes of the black trading day
On September 29, 2025, the FF token plummeted by 75%, rooted in three overlapping contradictions: first, the imbalance in airdrop distribution, with 8.3% of the community quota concentrated in the hands of a few users, triggering concentrated sell-offs; second, early investors faced no lock-up constraints, with 4.5% of the share liquidated on the first day of listing; third, insufficient liquidity preparation, with an initial trading pair depth of only $5 million corresponding to a circulation of 2.34 billion tokens. Even with Binance and Bybit urgently launching Launchpool, they could not prevent the price from falling from $0.67 to $0.19.
Support forces during the stabilization phase
From October, the price enters a stabilization period, with core support from three aspects: first, the audit report from Harris & Trotter LLP eliminates doubts about reserves, with USDf circulation rebounding to $1.6 billion; second, capital injections from M2 Capital and others totaling $10 million to supplement liquidity; third, news of six exchanges passing listing reviews boosts market expectations. In December, the price stabilized at 0.176 AUD, rising 107% from the low point, with 24-hour volatility narrowing to 7.39%, significantly reducing speculation.
On September 29, 2025, the FF token plummeted by 75%, rooted in three overlapping contradictions: first, the imbalance in airdrop distribution, with 8.3% of the community quota concentrated in the hands of a few users, triggering concentrated sell-offs; second, early investors faced no lock-up constraints, with 4.5% of the share liquidated on the first day of listing; third, insufficient liquidity preparation, with an initial trading pair depth of only $5 million corresponding to a circulation of 2.34 billion tokens. Even with Binance and Bybit urgently launching Launchpool, they could not prevent the price from falling from $0.67 to $0.19.
Support forces during the stabilization phase
From October, the price enters a stabilization period, with core support from three aspects: first, the audit report from Harris & Trotter LLP eliminates doubts about reserves, with USDf circulation rebounding to $1.6 billion; second, capital injections from M2 Capital and others totaling $10 million to supplement liquidity; third, news of six exchanges passing listing reviews boosts market expectations. In December, the price stabilized at 0.176 AUD, rising 107% from the low point, with 24-hour volatility narrowing to 7.39%, significantly reducing speculation.
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Globalization of fiat currency channels: FalconFinance's report on the five regional rollouts
First mover advantage in the Latin American market
As the first region to launch, the Latin American market will establish fiat currency channels for four currencies including the Brazilian real and Mexican peso by Q3 2025, connecting with three major local payment institutions. In the first month of launch, USDf trading volume exceeded $80 million, with 60% coming from cross-border trade settlements, confirming the adaptability of the 'stablecoin + fiat' model to emerging markets. In response to the high inflation environment in Latin America, a 'USDf fixed interest product' was launched, offering an annualized yield of 8%, attracting 20,000 users to open accounts.
Compliance breakthrough in the European and American markets
In the European market, the integration of the SEPA payment system has enabled instant exchange between euros and USDf, having obtained temporary approval from the Luxembourg Financial Supervisory Authority. The American market focuses on institutional clients and has partnered with two compliant brokers to launch a USDf liquidity solution aimed at hedge funds, achieving a trading volume of $120 million in the first quarter. The European and American markets contributed 45% of the total circulation of USDf, becoming a core pillar of the ecosystem.
As the first region to launch, the Latin American market will establish fiat currency channels for four currencies including the Brazilian real and Mexican peso by Q3 2025, connecting with three major local payment institutions. In the first month of launch, USDf trading volume exceeded $80 million, with 60% coming from cross-border trade settlements, confirming the adaptability of the 'stablecoin + fiat' model to emerging markets. In response to the high inflation environment in Latin America, a 'USDf fixed interest product' was launched, offering an annualized yield of 8%, attracting 20,000 users to open accounts.
Compliance breakthrough in the European and American markets
In the European market, the integration of the SEPA payment system has enabled instant exchange between euros and USDf, having obtained temporary approval from the Luxembourg Financial Supervisory Authority. The American market focuses on institutional clients and has partnered with two compliant brokers to launch a USDf liquidity solution aimed at hedge funds, achieving a trading volume of $120 million in the first quarter. The European and American markets contributed 45% of the total circulation of USDf, becoming a core pillar of the ecosystem.
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Analysis of Handling Fee Ecology: The Profit Model and Distribution of FalconFinance
Diverse handling fee income structure
Ecological income mainly comes from three types of handling fees: USDf minting fee (0.1-0.3%, with a tiered reduction based on the number of staked FF), sUSDf redemption fee (0.05%), and RWA asset access fee (a one-time fee of 1-2%). Total handling fee income reached $8 million in Q4 2025, of which the minting fee accounted for 55%, the RWA access fee accounted for 30%, and the redemption fee accounted for 15%. With the launch of the RWA engine, it is expected that handling fee income will exceed $50 million in 2026, with RWA-related income accounting for 45%.
Transparent allocation mechanism
The handling fee is distributed according to the ratio of '40% ecological subsidy + 30% technical research and development + 20% insurance fund + 10% foundation operation': the ecological subsidy is used for Yap2Fly rewards and liquidity mining incentives; research and development focuses on RWA engines and security technology; the insurance fund continuously supplements risk buffers; operational costs cover compliance and daily expenses. The allocation details will be disclosed quarterly through a transparency page, with a $4 million ecological subsidy in Q3 2025 driving a 12% increase in TVL, and the allocation efficiency recognized by the community.
Ecological income mainly comes from three types of handling fees: USDf minting fee (0.1-0.3%, with a tiered reduction based on the number of staked FF), sUSDf redemption fee (0.05%), and RWA asset access fee (a one-time fee of 1-2%). Total handling fee income reached $8 million in Q4 2025, of which the minting fee accounted for 55%, the RWA access fee accounted for 30%, and the redemption fee accounted for 15%. With the launch of the RWA engine, it is expected that handling fee income will exceed $50 million in 2026, with RWA-related income accounting for 45%.
Transparent allocation mechanism
The handling fee is distributed according to the ratio of '40% ecological subsidy + 30% technical research and development + 20% insurance fund + 10% foundation operation': the ecological subsidy is used for Yap2Fly rewards and liquidity mining incentives; research and development focuses on RWA engines and security technology; the insurance fund continuously supplements risk buffers; operational costs cover compliance and daily expenses. The allocation details will be disclosed quarterly through a transparency page, with a $4 million ecological subsidy in Q3 2025 driving a 12% increase in TVL, and the allocation efficiency recognized by the community.
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CeDeFi Integration Sample: The Centralization and Decentralization Balancing Act of FalconFinance
Centralized support at the compliance level
FalconFinance adopts a centralized architecture in the compliance field: managing a reserve of 1.6 billion USDf through licensed custodians, collaborating with regulatory bodies to advance license applications, and connecting to centralized payment gateways for fiat channels in regions such as Latin America and the United States. This design allows it to successfully avoid the risk of 'operating without a license,' becoming the first CeDeFi project to obtain a gold exchange license in the UAE. The foundation serves as a centralized decision-making body, responsible for emergency risk management, and in September 2025, its rapid capital infusion was crucial to contain the spread of the crisis.
FalconFinance adopts a centralized architecture in the compliance field: managing a reserve of 1.6 billion USDf through licensed custodians, collaborating with regulatory bodies to advance license applications, and connecting to centralized payment gateways for fiat channels in regions such as Latin America and the United States. This design allows it to successfully avoid the risk of 'operating without a license,' becoming the first CeDeFi project to obtain a gold exchange license in the UAE. The foundation serves as a centralized decision-making body, responsible for emergency risk management, and in September 2025, its rapid capital infusion was crucial to contain the spread of the crisis.
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2026 Roadmap Decoding: FalconFinance's Three Strategic Pivots
Pivot 1: Modular RWA Engine
As the core project for 2026, this engine supports the standardized tokenization of assets such as corporate bonds and private credit, enabling automatic settlement and profit distribution through smart contracts. We have partnered with two rating agencies to establish an asset screening model that only accepts corporate bonds rated BBB or higher, with an initial expected launch of $500 million in assets. The engine will adopt an SPV structure to isolate risks, and each asset must pass a Zellic security audit to ensure on-chain compliance.
Pivot 2: Global Physical Redemption Network
Building on the gold redemption service in the UAE, by 2026 it will expand to 10 financial centers including Hong Kong and Dubai, adding redemption options for silver, platinum, and more. Collaborating with LBMA-certified custodians to achieve seamless integration of 'on-chain exchange - offline withdrawal', the redemption cycle will be compressed to 24 hours. Plans to launch a 'Digital Gold ETF' will combine physical assets with on-chain trading, aiming to attract $1 billion in funding.
As the core project for 2026, this engine supports the standardized tokenization of assets such as corporate bonds and private credit, enabling automatic settlement and profit distribution through smart contracts. We have partnered with two rating agencies to establish an asset screening model that only accepts corporate bonds rated BBB or higher, with an initial expected launch of $500 million in assets. The engine will adopt an SPV structure to isolate risks, and each asset must pass a Zellic security audit to ensure on-chain compliance.
Pivot 2: Global Physical Redemption Network
Building on the gold redemption service in the UAE, by 2026 it will expand to 10 financial centers including Hong Kong and Dubai, adding redemption options for silver, platinum, and more. Collaborating with LBMA-certified custodians to achieve seamless integration of 'on-chain exchange - offline withdrawal', the redemption cycle will be compressed to 24 hours. Plans to launch a 'Digital Gold ETF' will combine physical assets with on-chain trading, aiming to attract $1 billion in funding.
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Analysis of FF Token Economics: The Ecological Incentive Logic Behind the Total Supply of 10 Billion
Reconstruction of Token Mechanism Under the Shadow of Plummeting Prices
After the plummet of the FF token in September 2025 exposed issues of distribution imbalance, the project party publicly disclosed a detailed distribution framework for the total supply of 10 billion tokens: 35% for ecological development, 32.2% controlled by the foundation, 20% allocated to the core team, 8.3% for community airdrops and Launchpad sales, and the remaining 4.5% allocated to early investors. This structure achieves checks and balances through independent supervision by the foundation, and the team’s share is subject to a lock-up mechanism to alleviate concerns of sell-offs. Currently, the circulating supply is 2.34 billion tokens, corresponding to a circulation rate of 23.4%, with a 24-hour trading volume of 19.16 million USD and a turnover rate of 7.10%, indicating that market liquidity is gradually recovering.
After the plummet of the FF token in September 2025 exposed issues of distribution imbalance, the project party publicly disclosed a detailed distribution framework for the total supply of 10 billion tokens: 35% for ecological development, 32.2% controlled by the foundation, 20% allocated to the core team, 8.3% for community airdrops and Launchpad sales, and the remaining 4.5% allocated to early investors. This structure achieves checks and balances through independent supervision by the foundation, and the team’s share is subject to a lock-up mechanism to alleviate concerns of sell-offs. Currently, the circulating supply is 2.34 billion tokens, corresponding to a circulation rate of 23.4%, with a 24-hour trading volume of 19.16 million USD and a turnover rate of 7.10%, indicating that market liquidity is gradually recovering.
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Exchange Breakthrough Battle: How FF Tokens Open the Doors of Six Major Platforms
The core chips of the listing review
The approval rate of FF tokens by major exchanges such as Kucoin and Gate reaches 94%, primarily due to three major advantages: First, the 1.6 billion dollar circulation scale of USDf provides ecological support, and the strong practicality of stablecoins reduces the risk of token zeroing; second, the 116% over-collateralization and regular audits meet compliance requirements; third, the progress of RWA implementation and 1.9 billion dollar TVL demonstrates ecological potential. The indicators such as token distribution and lock-up mechanisms, which exchanges focus on, have all reached listing standards after adjustments.
The synergistic effect of liquidity improvement
The first batch of Binance Launchpool uses a 'staking mining' model, locking up 50 million USDf to obtain FF token rewards, with participation funds exceeding 200 million dollars on the first day. The 24-hour trading volume rose from 8 million dollars at the beginning of the listing to 19.16 million dollars, with the turnover rate rising to 7.10%, and improved liquidity pushing the price from 0.19 dollars to stabilize at 0.176 Australian dollars. Six major platforms plan to launch trading pairs such as FF/USDT and FF/ETH, further reducing trading friction.
The approval rate of FF tokens by major exchanges such as Kucoin and Gate reaches 94%, primarily due to three major advantages: First, the 1.6 billion dollar circulation scale of USDf provides ecological support, and the strong practicality of stablecoins reduces the risk of token zeroing; second, the 116% over-collateralization and regular audits meet compliance requirements; third, the progress of RWA implementation and 1.9 billion dollar TVL demonstrates ecological potential. The indicators such as token distribution and lock-up mechanisms, which exchanges focus on, have all reached listing standards after adjustments.
The synergistic effect of liquidity improvement
The first batch of Binance Launchpool uses a 'staking mining' model, locking up 50 million USDf to obtain FF token rewards, with participation funds exceeding 200 million dollars on the first day. The 24-hour trading volume rose from 8 million dollars at the beginning of the listing to 19.16 million dollars, with the turnover rate rising to 7.10%, and improved liquidity pushing the price from 0.19 dollars to stabilize at 0.176 Australian dollars. Six major platforms plan to launch trading pairs such as FF/USDT and FF/ETH, further reducing trading friction.
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Crisis Repair Manual: The Four-Step Method for Rebuilding Trust by FalconFinance
Step 1: Audit transparency to stop losses
After the FF token plummeted in September 2025, the project team released an independent audit report from Harris & Trotter LLP in October, publicly disclosing the composition of USDf reserves and details of segregated accounts, eliminating doubts about the reserves through verification under the ISAE 3000 standard. A transparency page that is updated weekly was launched simultaneously, publicly displaying real-time data on the market value of collateral assets and the flow of custodial institutions, with quarterly audits from third-party institutions like Zellic becoming a routine supervision. This series of actions reduced the redemption rate of USDf from 32% during the crisis to below 10%.
Step 2: Capital introduction to enhance credibility
Introduce M2 Capital's strategic investment of $10 million, with Cypher Capital following up to invest, while establishing a $10 million on-chain insurance fund that will continuously inject 20% of protocol fees. The capital injection not only supplements liquidity but also brings compliance resources—investors assist in connecting with regulatory agencies in the US and Europe to promote the GENIUS Act and the licensing application under the MiCA framework. As of December, the proportion of USDf held by institutional investors increased from 5% to 18%, significantly boosting market confidence.
After the FF token plummeted in September 2025, the project team released an independent audit report from Harris & Trotter LLP in October, publicly disclosing the composition of USDf reserves and details of segregated accounts, eliminating doubts about the reserves through verification under the ISAE 3000 standard. A transparency page that is updated weekly was launched simultaneously, publicly displaying real-time data on the market value of collateral assets and the flow of custodial institutions, with quarterly audits from third-party institutions like Zellic becoming a routine supervision. This series of actions reduced the redemption rate of USDf from 32% during the crisis to below 10%.
Step 2: Capital introduction to enhance credibility
Introduce M2 Capital's strategic investment of $10 million, with Cypher Capital following up to invest, while establishing a $10 million on-chain insurance fund that will continuously inject 20% of protocol fees. The capital injection not only supplements liquidity but also brings compliance resources—investors assist in connecting with regulatory agencies in the US and Europe to promote the GENIUS Act and the licensing application under the MiCA framework. As of December, the proportion of USDf held by institutional investors increased from 5% to 18%, significantly boosting market confidence.
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