GoPlus: More similar to XUSD stablecoins are lurking with higher risks of decoupling or insolvency.

PANews, November 4 news, GoPlus Chinese community published an analysis on platform X, stating that perhaps as prices continue to fall and liquidity decreases, more stablecoins similar to XUSD are lurking with higher risks of decoupling or insolvency.

1. Yield-bearing/leverage vault, synthetic yield stablecoins rely on high return strategies (lending/leverage/LP rewards), with a large exposure to external borrowing and high liquidity requirements (xUSD belongs to this category).
2. Algorithm / Dual-token stablecoin (without sufficient external collateral) The mechanism for maintaining price stability relies on market arbitrage/token burning, and does not have reserves that can be instantly redeemed for fiat currency.
3. Projects that rely on centralized custody or a single counterparty (custodial / centralized governance) can encounter issues such as private key theft, governance delays, or custodial bankruptcy, which may lead to the closure of redemption channels.
4. High concentration of holdings / Tokens with a few wallets holding a very high percentage. A small amount of whale selling can greatly impact the liquidity and price stability of the secondary market.
5. Projects with high yield commitments but low transparency, insufficient audits, and anonymous teams raise project risks due to invisible leverage, related addresses, and opaque sources of returns.