STBL is preparing for the next wave of USST adoption. A strong foundation is what ultimately drives scale. After the overwhelming response over the past two months, our product and tech teams are focused on strengthening every layer of the STBL ecosystem. Here is the progress across our core pillars: Product: Designing and implementing the Tri-Factor model with incentivized dynamic mint and burn rates, flexible YLD burns and improved collateral unlocking. The Tri-Factor rollout begins in phases starting November 30. Infrastructure: Maintaining the highest standards has been the top priority. We continue to work with leading partners for security and reliability including Cyfrin and Nethermind for audits, Chainlink and Wormhole for oracles and bridging, and Hypernative for threat detection and risk monitoring. Collateral: Expanding integrations with high-quality RWAs to ensure sustainable value and long-term stability. USDY and OUSG are live, BENJI is currently in testing, and we are in the final stages of integrating additional private credit assets with one of the largest issuers globally. Utility Partnerships: DEX pairs and lending protocol integrations are in their final stages. These will undergo rigorous testing before mainnet activation. Minting: Progress on the above 4 key aspects forms the foundation for the next phase of minting. We remain on track with committed minting from investors, DeFi liquidity partners and private funds, all aligned with the Tri-Factor incentives and supporting ecosystem liquidity. ESS: There is strong momentum from payment providers moving toward MaaS. This shift is expected to significantly increase USST minting and drive ESS adoption across targeted ecosystems. This is the foundation we are building to scale sustainably and deliver long-term value to our community.