News

ChainCatcher news, Berachain co-founder Smokey stated that due to the BEX exchange rate freeze, there are still some anomalies in the Hub's annual interest rates and certain pricing. Some users encounter a 500 error message when accessing the Honey page, which appears to be related to geographic location. The Honey SC/Mint and swap functions are operating normally, and the frontend team has been scheduled to fix this error so that all affected users can access the page properly.

Foresight News reported, citing Shanghai Securities News, that a series of policy signals indicate that the development of digital RMB has entered a critical transition period from pilot exploration to system improvement. Analysts believe that the current positioning of digital RMB as M0 (currency in circulation) has gradually revealed many limitations in practice, such as the non-interest-bearing feature leading to insufficient user willingness to hold, and the separation from the banking account system exacerbating usage difficulties. Therefore, shifting its positioning to M1 is seen as key to solving the above issues. Liu Xiaochun, Deputy Director of Shanghai New Finance Research Institute and Deputy Director of China Financial Research Institute at Shanghai Jiao Tong University, stated that there are two envisioned paths to achieve this transformation: one is to directly promote the digitization of deposits, converting personal savings and corporate deposits into digital M1, thereby achieving seamless integration between bank accounts and digital wallets. The other is to introduce a new dedicated savings form, allowing funds to be transferred from existing deposit accounts to digital wallets, but still included as on-balance-sheet liabilities of commercial banks, with interest calculated at the demand deposit rate or a slightly lower rate.