Spark, Abstract, and Current State of Stablecoin [FP Weekly 26]

Jul 01, 2025

[Article] Would You Bet on the 2008 App Store?

Written by Ponyo

Same curve, new medium. Abstract is replaying the early-App-Store flywheel, already hitting 1.5M MAU and +70 live apps with AGW wallets showing a 35% WoW return rate.
Indie traction validates the thesis. Death[.]fun logged 1M plays in month 1, Monsters[.]fun drew 150k waitlisters, and OnChain Heroes turned over 1.1k ETH on secondary, echoing the Angry Birds/Doodle Jump pattern of “lightweight fun → viral scale.”
Built-in discovery flywheel. XP quests plus a unified portal & AGW (Abstract Global Wallet) deliver day-one traffic; the average visit runs ~9min / 7pages, driving a compounding loop of users ↔ devs ↔ content/apps.
XP = pre-IPO equity. Points earned now are widely expected to convert into airdrops, perks, and future rewards, letting early users lock in upside before the platform’s value is fully priced in.

Written by 100y

In May 2025, Yala was launched on mainnet. Yala is a liquidity protocol that allows BTC holders to engage their BTC to mint $YU, an over-collateralised Bitcoin-backed stablecoin, on Ethereum and Solana. This gives Bitcoin holders access to a new dimension of sustainable yield opportunities across DeFi and RWAs
Yield sources accessible to BTC holders within Yala include 1) the Yala stability pool, 2) LP farming, 3) DeFi integrations across Ethereum and Solana, and 4) Yala RealYield. Through these, users can access 1) BTC collateral rewards, 2) LP rewards, 3) DeFi rewards, and 4) RWA yields respectively.
Yala has onboarded a variety of DeFi and RWA protocols including Pendle, Uniswap, Raydium, Kamino, Securitize, and Centrifuge. This ecosystem aligns with Yala’s sustainable ecosystem strategy. Yala will continue to onboard diverse DeFi and RWA projects to expand BTC holders’ access to yield opportunities.

Written by Heechang

Stablecoins is the most ideal form of asset, as its programmability expands the functional limits of traditional money.
Major Asian IT platforms, or “super apps,” has a wide range of services and are central to daily life and national competitiveness; stablecoins can enhance these platforms by streamlining financial interactions and being the financial rail for these platforms.
For stablecoins to serve as foundational financial infrastructure, collaboration among IT platforms, banks, and non-bank institutions is essential, enabling cross-platform integration, secure collateral management, and the creation of seamless experience.
Successful adoption of stablecoins in Asia requires clear legal frameworks supporting capital market-based models, the formation of consortiums to avoid ecosystem fragmentation, and strategic partnerships between platforms and financial institutions to maximize user benefits and market reach.

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