GM20260305
1) Market trend
BTC surged, with altcoins rising broadly. The market has started a new round of rebound.
U.S. stocks rebounded, led by storage concepts. The South Korean stock market also rebounded.
2) Market highlights:
1. BTC rebounded sharply, with BTC and ETH contract rates being negative. BTC has dropped 50% from its historical peak, a decline that typically aligns with the later stages of a bear market. Currently, about 9.2 million BTC are in a state of loss, indicating that nearly half of the circulating supply is currently at a loss, but the momentum of large capital accumulation remains weak.
2. On BN's robo, Fabric Protocol (robo) attempts to build the underlying infrastructure for a 'robot economy' on the blockchain. The core logic of Fabric Protocol is that future AI agents and physical robots need to have economic identities independent of humans. Robots are no longer asset numbers of companies but have their own Web3 wallets and decentralized identities (DID). Robots can pay for charging fees, maintenance fees, or purchase other robots' 'skill datasets' using $ROBO. The project proposes a concept similar to a 'robot App Store,' where developers can create specific functional modules (e.g., power maintenance, medical assistance, etc.), and robots can dynamically download and run these modules through the protocol. $ROBO's main uses include paying network fees, staking nodes, robot registration deposits, and governance voting (veROBO). $ROBO introduces a work deposit mechanism. Robot operators must stake tokens as collateral; if a robot fails to perform a task or produces false data, the tokens will be forfeited, creating structural demand for the tokens. The project is co-developed by the Fabric Foundation and the robotics software company OpenMind, representing a typical example of the AI + DePIN (decentralized physical infrastructure) track.
3. The Backpack exchange has launched an on-chain IPO, tokenizing IPO stocks on the Solana chain. Backpack does not directly underwrite stocks but collaborates closely with Superstate. Superstate is a transfer agent and asset management company regulated by the U.S. SEC. Superstate is responsible for converting real stock shares (such as U.S. stocks) into on-chain tradable tokenized assets. These shares operate in token form on the Solana network, ensuring that each token is backed by real underlying securities. Users can directly obtain IPO shares through the subscription feature on the Backpack platform. The official emphasizes that users are achieving direct ownership of real stocks. This service usually requires strict identity verification (KYC) and is currently open for waitlist registration.
4. Coinbase exchange officially supports U.S. stock trading, but it is through brokers, not tokenized stocks. Stock securities are provided by Coinbase Capital Markets, while digital asset services are provided by Coinbase Inc. and its affiliates. Eligible stocks support extended trading hours (5 days a week, 24 hours a day).