{"id":1619,"date":"2026-04-14T19:46:25","date_gmt":"2026-04-14T11:46:25","guid":{"rendered":"https:\/\/www.yqcsfz.com\/?p=1619"},"modified":"2026-04-14T19:46:25","modified_gmt":"2026-04-14T11:46:25","slug":"%e8%84%b1%e9%92%a9%e9%a3%8e%e6%b3%a2%e5%90%8e%e7%9a%84-ethena%ef%bc%9atvl-%e8%85%b0%e6%96%a9%e3%80%81%e7%94%9f%e6%80%81%e5%8f%97%e6%8c%ab%ef%bc%8c%e5%a6%82%e4%bd%95%e5%bc%80%e5%90%af%e7%ac%ac%e4%ba%8c","status":"publish","type":"post","link":"https:\/\/www.manwah.net\/?p=1619","title":{"rendered":"\u8131\u94a9\u98ce\u6ce2\u540e\u7684 Ethena\uff1aTVL \u8170\u65a9\u3001\u751f\u6001\u53d7\u632b\uff0c\u5982\u4f55\u5f00\u542f\u7b2c\u4e8c\u6210\u957f\u66f2\u7ebf\uff1f"},"content":{"rendered":"
\"Ethena<\/div>\n<\/div>\n
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<\/div>\n<\/p><\/div>\n
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\u4f5c\u8005\uff1aJAE\uff0cPANews<\/strong><\/p>\n

\n

\u51ed\u501f\u8457\u72ec\u7279\u7684 Delta \u4e2d\u6027\u5bf9\u51b2\u7b56\u7565\uff0cUSDe \u6210\u4e3a\u4e86\u4e00\u79cd\u6297\u5ba1\u67e5\u3001\u53ef\u6269\u5c55\uff0c\u4e14\u80fd\u591f\u6355\u83b7\u6c38\u7eed\u5408\u7ea6\u8d44\u91d1\u8d39\u7387\u6536\u76ca\u7684\u5408\u6210\u7f8e\u5143\uff0c\u5e26\u52a8\u53d1\u884c\u65b9 Ethena \u8fc5\u901f\u5d1b\u8d77\uff0cTVL\uff08\u603b\u9501\u4ed3\u4ef7\u503c\uff09\u4e00\u5ea6\u903c\u8fd1 150 \u4ebf\u7f8e\u5143\u5927\u5173\uff0c\u88ab\u4e1a\u754c\u8ba4\u4e3a\u662f\u6311\u6218 USDT \u548c USDC \u4e24\u5927\u4f20\u7edf\u4e2d\u5fc3\u5316\u7a33\u5b9a\u5e01\u53cc\u5934\u5784\u65ad\u683c\u5c40\u7684\u5173\u952e\u529b\u91cf\u3002<\/p>\n

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\"\u8131\u94a9\u98ce\u6ce2\u540e\u7684<\/div>\n<\/div>\n

\u7136\u800c\uff0c\u8fdb\u5165 2025 \u5e74 10 \u6708\uff0cEthena \u7684\u60c5\u51b5\u6025\u8f6c\u76f4\u4e0b\uff0c\u9762\u4e34\u4e25\u5cfb\u7684\u7ed3\u6784\u6027\u6311\u6218\u3002\u5728\u77ed\u77ed\u4e24\u4e2a\u6708\u5185\uff0c\u534f\u8bae\u7ecf\u5386\u4e86 USDe TVL \u8170\u65a9\u4e0e\u5b75\u5316\u7684\u751f\u6001\u9879\u76ee\u610f\u5916\u7ec8\u6b62\u7b49\u8fde\u756a\u91cd\u51fb\u3002\u8fd9\u4e9b\u4e8b\u4ef6\u63a8\u52a8\u5e02\u573a\u5f00\u59cb\u53cd\u601d\uff1aEthena \u7684\u6838\u5fc3\u673a\u5236\u662f\u5426\u5bb9\u6613\u53d7\u5230\u5916\u5728\u73af\u5883\u5f71\u54cd\uff1f\u534f\u8bae\u65e9\u671f\u7684\u9ad8\u6210\u957f\u6a21\u5f0f\u662f\u5426\u5177\u6709\u6c38\u7eed\u6027\uff1f\u5176\u7b2c\u4e8c\u6210\u957f\u66f2\u7ebf\u53c8\u5728\u54ea\u91cc\uff1f<\/p>\n

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DeFiLlama \u6700\u65b0\u6570\u636e\u663e\u793a\uff0c\u622a\u81f3 2025 \u5e74 12 \u6708 2 \u65e5\uff0cUSDe TVL \u5df2\u8dcc\u81f3\u7ea6 70 \u4ebf\u7f8e\u5143\uff0c\u76f8\u8f83\u4e8e 10 \u6708\u9ad8\u4e8e 148 \u4ebf\u7f8e\u5143\u7684\u5cf0\u503c\uff0c\u964d\u5e45\u8d85\u8fc7 50% \u3002<\/p>\n

\"\u8131\u94a9\u98ce\u6ce2\u540e\u7684<\/p>\n

USDe TVL \u6025\u5267\u4e0b\u6ed1\u5e76\u975e\u6e90\u81ea\u4e8e\u534f\u8bae\u5bf9\u51b2\u673a\u5236\u7684\u5931\u6548\uff0c\u4e3b\u8981\u662f\u5f52\u56e0\u4e8e\u300c1011\u300dUSDe \u5728\u5e01\u5b89\u4e0a\u7684\u8131\u951a\u4e8b\u4ef6\u5f15\u53d1\u4e86\u5e02\u573a\u7684\u6050\u614c\u60c5\u7eea\uff0c\u63a8\u52a8\u4e86 DeFi \u9ad8\u6760\u6746\u5957\u5229\u7b56\u7565\u7684\u7cfb\u7edf\u6027\u9000\u51fa\u3002<\/strong>\u5728 Ethena \u7684\u5feb\u901f\u6210\u957f\u9636\u6bb5\uff0c\u8bb8\u591a\u7528\u6237\u5c06 USDe \u7528\u4f5c\u62b5\u62bc\u8d44\u4ea7\uff0c\u5728 Aave \u7b49\u5e73\u53f0\u4e0a\u501f\u51fa USDC\uff0c\u900f\u8fc7\u5faa\u73af\u501f\u8d37\u64cd\u4f5c\u83b7\u5f97\u9ad8\u8fbe 10 \u500d\u4ee5\u4e0a\u7684\u6760\u6746\uff0c\u7528\u6765\u653e\u5927\u6f5c\u5728\u6536\u76ca\u3002<\/p>\n

\u8fd9\u79cd\u6a21\u5f0f\u7684\u751f\u547d\u7ebf\u5728\u4e8e\u5229\u5dee\u7684\u7a97\u53e3\u671f\u3002\u968f\u8457\u5e02\u573a\u501f\u8d37\u5229\u7387\u7684\u6ce2\u52a8\uff0cUSDe \u7684 APY\uff08\u5e74\u5316\u6536\u76ca\u7387\uff09\u964d\u81f3\u7ea6 5.1% \u5de6\u53f3\uff0c\u800c Aave \u4e0a\u501f\u5165 USDC \u7684\u6210\u672c\u5219\u7ef4\u6301\u5728 5.4% \u3002\u4e00\u65e6 USDe \u7684\u6536\u76ca\u4f4e\u4e8e\u501f\u8d37\u6210\u672c\uff0c\u4f9d\u8d56\u6b63\u5411\u4ef7\u5dee\u7684\u5957\u5229\u4ea4\u6613\u5c31\u4f1a\u53d8\u5f97\u65e0\u5229\u53ef\u56fe\u3002\u5148\u524d\u63a8\u9ad8 TVL \u7684\u6760\u6746\u90e8\u4f4d\u968f\u5373\u5f00\u59cb\u5927\u91cf\u5e73\u4ed3\u4e0e\u8d4e\u56de\uff0c\u9020\u6210\u6d41\u52a8\u6027\u5927\u89c4\u6a21\u5916\u6d41\uff0cTVL \u4e5f\u968f\u4e4b\u5927\u5e45\u840e\u7f29\u3002<\/p>\n

\u8fd9\u4e00\u73b0\u50cf\u4e5f\u63ed\u793a\u4e86 USDe \u6536\u76ca\u6a21\u5f0f\u7684\u53cd\u8eab\u6027\uff0c\u534f\u8bae\u6536\u76ca\u7387\u548c TVL \u6210\u957f\u5f62\u6210\u4e86\u81ea\u6211\u5f3a\u5316\u7684\u5faa\u73af\uff0c\u540c\u65f6\u4e5f\u5e26\u6765\u4e86\u7ed3\u6784\u4e0a\u7684\u8106\u5f31\u6027\u3002<\/strong>\u5f53\u5b58\u6b3e\u5229\u7387\u9ad8\u4f01\u65f6\uff0c\u9ad8\u6536\u76ca\u7387\u5438\u5f15\u4e86\u5927\u91cf\u6760\u6746\u8d44\u91d1\u5165\u573a\uff0c\u5e76\u63a8\u52a8 TVL \u6500\u5347\u3002\u7136\u800c\uff0c\u4e00\u65e6\u5b58\u6b3e\u5229\u7387\u56de\u843d\u6216\u501f\u8d37\u6210\u672c\u4e0a\u5347\uff0c\u81f4\u4f7f\u6536\u76ca\u7387\u8dcc\u7834\u4e34\u754c\u70b9\uff0c\u5927\u91cf\u7684\u6760\u6746\u5934\u5bf8\u5c31\u4f1a\u96c6\u4f53\u64a4\u51fa\u5e02\u573a\uff0c\u52a0\u901f\u534f\u8bae\u7684\u6536\u7f29\u3002<\/p>\n

USDe \u7684\u6210\u957f\u4e0d\u4ec5\u53d6\u51b3\u4e8e Delta \u4e2d\u6027\u5bf9\u51b2\u673a\u5236\uff0c\u66f4\u4f1a\u53d7\u5230\u5e02\u573a\u6050\u614c\u60c5\u7eea\u7684\u6df1\u523b\u5f71\u54cd\u3002<\/strong>\u867d\u7136 Ethena \u4fdd\u6301\u8457 100% \u4ee5\u4e0a\u7684\u62b5\u62bc\u7387\uff0c\u4f46\u5e02\u573a\u53bb\u98ce\u9669\u5316\u60c5\u7eea\u7684\u8513\u5ef6\uff0c\u4ee5\u53ca USDe \u5728\u5e01\u5b89\u77ed\u6682\u8131\u951a\u81f3 0.65 \u7f8e\u5143\u7684\u5371\u673a\uff0c\u90fd\u8fdb\u4e00\u6b65\u52a0\u5267\u4e86\u6d41\u52a8\u6027\u7684\u64a4\u9000\u3002<\/p>\n

\u5728 TVL \u66b4\u8dcc\u7684\u540c\u65f6\uff0cEthena \u5b75\u5316\u7684 DEX\uff08\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\uff09Terminal Finance \u5ba3\u5e03\u7ec8\u6b62\u5176\u4e0a\u7ebf\u8ba1\u5212\uff0c\u8fd9\u4e5f\u4e3a\u534f\u8bae\u7684\u6218\u7565\u65b9\u5411\u8499\u4e0a\u4e86\u4e00\u5c42\u9634\u5f71\u3002\u6b64\u524d\uff0cTerminal \u5728\u9884\u542f\u52a8\u9636\u6bb5\u4e00\u5ea6\u5438\u5f15\u4e86\u8d85\u8fc7 2.8 \u4ebf\u7f8e\u5143\u7684\u5b58\u6b3e\uff0c\u5f15\u53d1\u4e86\u5e02\u573a\u7684\u9ad8\u5ea6\u5173\u6ce8\u3002<\/p>\n

\"\u8131\u94a9\u98ce\u6ce2\u540e\u7684<\/p>\n

Terminal \u7ec8\u6b62\u7684\u6839\u672c\u539f\u56e0\u5728\u4e8e\u539f\u5148\u7684\u516c\u94fe Converge \u672a\u80fd\u5982\u671f\u4e0a\u7ebf\u3002<\/strong>\u4eca\u5e74 3 \u6708\uff0cEthena Labs \u4e0e Securitize \u66fe\u5ba3\u5e03\u5c06\u5408\u4f5c\u5efa\u6784\u4e00\u6761\u4e0e\u4ee5\u592a\u574a\u76f8\u5bb9\u7684\u673a\u6784\u7ea7\u516c\u94fe Converge \u3002 Terminal \u5219\u88ab\u5b9a\u4f4d\u4e3a Converge \u94fe\u4e0a\u7684\u6d41\u52a8\u6027\u67a2\u7ebd\u3002<\/p>\n

\u7136\u800c\uff0c\u56e0 Converge \u4e3b\u7f51\u672a\u80fd\u4f9d\u7ea6\u4e0a\u7ebf\uff0c\u4e14\u8fd1\u671f\u6ca1\u6709\u786e\u5b9a\u7684\u542f\u52a8\u8ba1\u5212\uff0cTerminal \u5931\u53bb\u4e86\u8d56\u4ee5\u751f\u5b58\u7684\u57fa\u7840\u8bbe\u65bd\u3002 Terminal \u5b98\u65b9\u5728 X \u4e0a\u53d1\u6587\u5766\u8a00\uff1a\u56e2\u961f\u63a2\u7d22\u4e86\u5404\u79cd\u8f6c\u578b\u65b9\u6848\uff0c\u4f46\u8ba4\u4e3a\u8fd9\u4e9b\u8def\u5f84\u90fd\u9762\u4e34\u8457\u300c\u6709\u9650\u7684\u751f\u6001\u652f\u6301\u3001\u532e\u4e4f\u7684\u8d44\u4ea7\u63a5\u5165\u6f5c\u529b\u4ee5\u53ca\u9eef\u6de1\u7684\u957f\u671f\u53d1\u5c55\u524d\u666f\u300d\uff0c\u6700\u7ec8\u51b3\u5b9a\u7ec8\u6b62\u9879\u76ee\u3002<\/p>\n

Terminal \u7684\u5931\u8d25\u6807\u5fd7\u8457 Ethena \u81ea\u5efa\u516c\u94fe\u751f\u6001\u7684\u5c1d\u8bd5\u906d\u53d7\u91cd\u632b\u3002\u5728\u7ade\u4e89\u6fc0\u70c8\u7684\u516c\u94fe\u8d5b\u9053\u4e2d\uff0c\u8d44\u6e90\u4e0e\u7cbe\u529b\u7684\u5206\u6563\u901a\u5e38\u4ee3\u4ef7\u9ad8\u6602\u3002\u8fd9\u4e8b\u4ef6\u63d0\u793a\u4e86 Ethena \u987b\u5c06\u91cd\u5fc3\u8f6c\u5411\u66f4\u6709\u6548\u7387\u4e0e\u53ef\u6269\u5c55\u6027\u7684\u6a2a\u5411\u6269\u5f20\u6a21\u5f0f\uff0c\u4e5f\u5c31\u662f\u4e13\u6ce8\u4e8e\u6210\u4e3a\u516c\u94fe\u7684\u7a33\u5b9a\u5e01\u57fa\u7840\u8bbe\u65bd\u63d0\u4f9b\u8005\u3002<\/strong><\/p>\n

\u6253\u9020\u767d\u6807\u5e73\u53f0\u4e3a\u7b2c\u4e8c\u6210\u957f\u5f15\u64ce\uff0c\u62d3\u5c55 USDe \u529f\u80fd\u6548\u7528<\/h3>\n

\u5c3d\u7ba1 Ethena \u5728\u6d41\u52a8\u6027\u4e0e\u751f\u6001\u9879\u76ee\u4e0a\u7ecf\u5386\u4e86\u9635\u75db\uff0c\u4f46\u534f\u8bae\u6b63\u900f\u8fc7\u4e00\u7cfb\u5217\u91cd\u5927\u7684\u7b56\u7565\u90e8\u7f72\uff0c\u5c06\u6210\u957f\u7126\u70b9\u8f6c\u5411\u57fa\u7840\u8bbe\u65bd\u670d\u52a1\u4e0e\u4ea7\u54c1\u591a\u5143\u5316\uff0c\u5176\u83b7\u5229\u80fd\u529b\u4e5f\u5c55\u73b0\u51fa\u4e86\u5f3a\u52b2\u7684\u97e7\u6027\u3002<\/p>\n

\u76ee\u524d\uff0c\u767d\u6807\uff08WhiteLabel\uff09\u5e73\u53f0\u662f Ethena \u6700\u91cd\u8981\u7684\u7b2c\u4e8c\u6210\u957f\u70b9\u3002<\/strong>\u8fd9\u662f\u4e00\u4e2a SaaS\uff08Stablecoin as a Service\uff0c\u7a33\u5b9a\u5e01\u5373\u670d\u52a1\uff09\u4ea7\u54c1\uff0c\u80fd\u591f\u5c06\u534f\u8bae\u7684\u89d2\u8272\u4ece\u8d44\u4ea7\u53d1\u884c\u65b9\u63a8\u5411\u4e86\u57fa\u7840\u8bbe\u65bd\u63d0\u4f9b\u8005\u3002\u767d\u6807\u5e73\u53f0\u8ba9\u9ad8\u6027\u80fd\u516c\u94fe\u3001\u6d88\u8d39\u8005\u5e94\u7528\u4e0e\u94b1\u5305\u7b49\u5e02\u573a\u53c2\u4e0e\u8005\u5229\u7528 Ethena \u7684\u5e95\u5c42\u57fa\u7840\u8bbe\u65bd\uff0c\u9ad8\u6548\u53d1\u884c\u81ea\u5df1\u7684\u5ba2\u5236\u5316\u7f8e\u5143\u8d44\u4ea7\uff0c\u76ee\u524d\u5df2\u4e0e DeFi \u3001\u4ea4\u6613\u6240\u548c\u516c\u70bc\u7b49\u8fbe\u6210\u4e86\u5408\u4f5c<\/p>\n

\u4f8b\u5982\uff0c10 \u6708 2 \u65e5\uff0cEthena \u5ba3\u5e03\u4e0e Sui \u53ca\u5176\u7eb3\u65af\u8fbe\u514b\u4e0a\u5e02 DAT \u516c\u53f8 SUI Group Holdings\uff08NASDAQ: SUIG\uff09\u8fbe\u6210\u4e86\u767d\u6807\u91cd\u8981\u5408\u4f5c\uff0cSui \u751f\u6001\u5c06\u63a8\u51fa\u4e24\u7c7b\u539f\u751f\u7f8e\u5143\u8d44\u4ea7\uff1a<\/p>\n

    \n
  • \n

    suiUSDe\uff1a\u4e00\u79cd\u57fa\u4e8e Ethena \u5408\u6210\u7f8e\u5143\u6a21\u578b\u7684\u6536\u76ca\u578b\u7a33\u5b9a\u5e01\uff1b<\/p>\n<\/li>\n

  • \n

    USDi\uff1a\u4e00\u79cd\u7531\u8d1d\u83b1\u5fb7\uff08BlackRock\uff09BUIDL \u4ee3\u5e01\u5316\u57fa\u91d1\u652f\u6301\u7684\u7a33\u5b9a\u5e01\u3002<\/p>\n<\/li>\n<\/ul>\n

    \u8fd9\u6b21\u4e0e Sui \u7684\u5408\u4f5c\u662f\u767d\u6807\u5e73\u53f0\u9996\u6b21\u88ab\u975e EVM \u516c\u94fe\u91c7\u7528\uff0c\u4e5f\u6807\u5fd7\u8457 Ethena \u57fa\u7840\u8bbe\u65bd\u5177\u5907\u8de8\u94fe\u53ef\u6269\u5c55\u6027\u3002\u6b64\u5916\uff0cSUI Group \u4e5f\u5c06\u4f7f\u7528 suiUSDe \u4e0e USDi \u4ea7\u751f\u7684\u51c0\u6536\u5165\uff0c\u5728\u516c\u5f00\u5e02\u573a\u8d2d\u4e70\u66f4\u591a SUI \u4ee3\u5e01\uff0c\u5c06\u7a33\u5b9a\u5e01\u53d1\u884c\u76f4\u63a5\u4e0e\u751f\u6001\u6210\u957f\u6302\u94a9\u3002<\/p>\n

    10 \u6708 8 \u65e5\uff0cEthena \u5ba3\u5e03\u4e0e Solana \u751f\u6001\u7684\u9876\u7ea7 DEX \u805a\u5408\u5668 Jupiter \u5408\u4f5c\u63a8\u51fa JupUSD\uff0c\u5728\u975e EVM \u516c\u94fe\u751f\u6001\u62a2\u5360\u4e86\u53e6\u4e00\u4e2a\u5173\u952e\u7684\u6865\u5934\u5821\u3002<\/p>\n

    Jupiter \u8ba1\u5212\u9010\u6b65\u5c06\u6838\u5fc3\u6d41\u52a8\u6027\u6c60\u4e2d\u7684 7.5 \u4ebf\u7f8e\u5143 USDC \u66ff\u6362\u4e3a JupUSD \u3002\u521d\u671f\uff0cJupUSD \u521d\u671f\u5c06\u7531\u8d1d\u83b1\u5fb7 BUIDL \u57fa\u91d1\u652f\u6301\u7684 USDtb \u80cc\u4e66\uff0c\u540e\u671f\u5c06\u518d\u6574\u5408 USDe \u3002\u8fd9\u6b21\u5927\u89c4\u6a21\u7684\u8d44\u4ea7\u8f6c\u6362\uff0c\u80fd\u5c06 Ethena \u7684\u8d44\u4ea7\u5f15\u5165 Jupiter Perps \u4e0e Jupiter Lend \u7b49 Solana \u751f\u6001\u7684\u4e3b\u6d41 DeFi \u5e94\u7528\uff0c\u8fdb\u4e00\u6b65\u5de9\u56fa\u767d\u6807\u5e73\u53f0\u5728\u975e EVM \u516c\u94fe\u751f\u6001\u7684\u5e94\u7528\u60c5\u5883\u3002<\/p>\n

    \u767d\u6807\u7b56\u7565\u7684\u63a8\u884c\uff0c\u4e0d\u4ec5\u5728\u4e8e Ethena \u5e02\u573a\u5360\u6709\u7387\u7684\u6269\u5f20\uff0c\u66f4\u5728\u4e8e\u534f\u8bae\u7ed3\u6784\u6027\u98ce\u9669\u7684\u7f13\u89e3\u3002<\/strong>\u900f\u8fc7\u767d\u6807\u5e73\u53f0\uff0cEthena \u80fd\u534f\u52a9\u5404\u7c7b\u5e02\u573a\u53c2\u4e0e\u8005\u6574\u5408\u5e76\u53d1\u884c RWA \u652f\u63f4\u7684\u7a33\u5b9a\u5e01\uff08\u5982 USDtb\/USDi\uff09\u3002\u8fd9\u4e5f\u610f\u5473\u8457 Ethena \u7684\u6536\u5165\u6765\u6e90\u5f97\u4ee5\u591a\u5143\u5316\uff0c\u4e0d\u518d\u9ad8\u5ea6\u4f9d\u8d56\u6ce2\u52a8\u6027\u6781\u5927\u7684\u6c38\u7eed\u5408\u7ea6\u8d44\u91d1\u8d39\u7387\u3002<\/p>\n

    \u5728\u8d44\u91d1\u8d39\u7387\u4f4e\u8ff7\u6216\u8f6c\u8d1f\u7684\u65f6\u671f\uff0cRWA \u63d0\u4f9b\u7684\u673a\u6784\u7ea7\u7a33\u5b9a\u6536\u76ca\u80fd\u5e73\u8861\u534f\u8bae\u7684\u6574\u4f53\u56de\u62a5\uff0c\u6216\u5c06\u7f13\u89e3 USDe \u65e9\u671f\u6210\u957f\u6a21\u5f0f\u4e2d\u8868\u73b0\u51fa\u7684\u53cd\u8eab\u6027\u3002<\/p>\n

    \"\u8131\u94a9\u98ce\u6ce2\u540e\u7684<\/p>\n

    \u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0cEthena \u4e5f\u5728\u6df1\u5316 USDe \u4f5c\u4e3a DeFi \u529f\u80fd\u6027\u8d44\u4ea7\u7684\u6548\u7528\uff0c\u8fdb\u800c\u964d\u4f4e\u5176\u5bf9\u6760\u6746\u5957\u5229\u8005\u7684\u4f9d\u8d56\u3002<\/strong>\u00a0Ethena Labs \u5df2\u4e0e Hyperliquid HIP-3 \u90e8\u7f72\u65b9 Nunchi \u5efa\u7acb\u7b56\u7565\u5408\u4f5c\u5173\u7cfb\u3002<\/p>\n

    Nunchi \u6b63\u5728\u5efa\u7acb\u6536\u76ca\u6c38\u7eed\u5408\u7ea6\uff0c\u8fd9\u7c7b\u91d1\u878d\u4ea7\u54c1\u5141\u8bb8\u7528\u6237\u5bf9\u5404\u7c7b\u6536\u76ca\u7387\uff08\u5982 RWA \u5229\u7387\u3001\u80a1\u606f\u6216 ETH \u8d28\u62bc\u56de\u62a5\u7387\uff09\u8fdb\u884c\u4ea4\u6613\u6216\u5bf9\u51b2\u3002<\/p>\n

    \u5728\u8fd9\u6b21\u5408\u4f5c\u4e2d\uff0cUSDe \u88ab\u6307\u5b9a\u4e3a\u6536\u76ca\u6c38\u7eed\u5408\u7ea6\u7684\u57fa\u7840\u62b5\u62bc\u54c1\u4e0e\u7ed3\u7b97\u8d44\u4ea7\u3002\u66f4\u91cd\u8981\u7684\u662f\uff0c\u7528\u6237\u5728\u5c06 USDe \u7528\u4f5c\u4fdd\u8bc1\u91d1\u65f6\uff0c\u5c06\u53d7\u76ca\u4e8e\u300c\u4fdd\u8bc1\u91d1\u6536\u76ca\u300d\uff08Margin Yield\uff09\u673a\u5236\uff0c\u5141\u8bb8\u7528\u6237\u6301\u6709 USDe \u8d5a\u53d6\u7684\u88ab\u52a8\u6536\u76ca\u62b5\u6d88\u4ea4\u6613\u624b\u7eed\u8d39\u548c\u8d44\u91d1\u8d39\u7528\u3002\u8fd9\u4e0d\u4ec5\u5c06\u589e\u5f3a\u5e02\u573a\u7684\u6d41\u52a8\u6027\uff0c\u8fd8\u80fd\u964d\u4f4e\u7528\u6237\u7684\u5b9e\u9645\u4ea4\u6613\u6210\u672c\u3002<\/p>\n

    \u8fd9\u5957\u673a\u5236\u4e5f\u6709\u52a9\u4e8e USDe \u4ece\u4e00\u9879\u50a8\u84c4\u5de5\u5177\u5347\u7ea7\u4e3a DeFi \u884d\u751f\u6027\u5546\u54c1\u5e02\u573a\u7684\u529f\u80fd\u6027\u8d44\u4ea7\u3002<\/strong>\u5728 Nunchi \u4e0a\u4ea7\u751f\u7684\u90e8\u5206\u6536\u5165\u4e5f\u5c06\u56de\u6d41\u5230 Ethena\uff0c\u5f62\u6210\u65b0\u7684\u6536\u5165\u98de\u8f6e\uff0c\u8fdb\u4e00\u6b65\u4fc3\u8fdb\u534f\u8bae\u6536\u5165\u6765\u6e90\u7684\u591a\u5143\u5316\u3002<\/p>\n

    \u5df2\u6355\u83b7\u8d85 6 \u4ebf\u7f8e\u5143\u534f\u8bae\u6536\u5165\uff0c\u83b7 Multicoin \u8ba4\u53ef\u6ce8\u8d44<\/h3>\n

    \u5b9e\u9645\u4e0a\uff0c\u5728 Ethena \u7ecf\u5386\u52a8\u8361\u4e4b\u524d\uff0c\u534f\u8bae\u672c\u8eab\u7684\u5e95\u5c42\u83b7\u5229\u80fd\u529b\u65e9\u5df2\u5f97\u5230\u9a8c\u8bc1\uff0c\u57fa\u672c\u9762\u4f9d\u7136\u7a33\u5065\u3002<\/strong>\u00a0token terminal \u6570\u636e\u663e\u793a\uff0cEthena \u5728\u4eca\u5e74\u7b2c\u4e09\u5b63\u6355\u83b7\u7684\u8d39\u7528\u8fbe\u5230 1.51 \u4ebf\u7f8e\u5143\uff0c\u521b\u4e0b\u5e73\u53f0\u5386\u53f2\u65b0\u9ad8\uff0c\u534f\u8bae\u7684\u603b\u7d2f\u8ba1\u6536\u5165\u5df2\u7a81\u7834 6 \u4ebf\u7f8e\u5143\u3002<\/p>\n

    \"\u8131\u94a9\u98ce\u6ce2\u540e\u7684<\/p>\n

    \u8fd9\u9879\u6536\u5165\u6570\u636e\u4e5f\u663e\u793a\u4e86 Ethena \u5728\u5e02\u573a\u73af\u5883\u6709\u5229\u65f6\uff0c\u534f\u8bae\u81ea\u8eab\u9ad8\u6548\u7684\u83b7\u5229\u80fd\u529b\u3002<\/strong>\u00a0Ethena \u534f\u8bae\u7684\u6536\u5165\u6765\u6e90\u4e3b\u8981\u7531\u4e09\u4e2a\u90e8\u5206\u6784\u6210\uff1a1\uff09\u6c38\u7eed\u5408\u7ea6\u5bf9\u51b2\u5934\u5bf8\u6240\u8d5a\u53d6\u7684\u8d44\u91d1\u8d39\u7387\u4e0e\u57fa\u5dee\u6536\u76ca\uff1b2\uff09ETH \u8d28\u62bc\u6fc0\u52b1\uff1b3\uff09\u6d41\u52a8\u6027\u7a33\u5b9a\u5e01\u7684\u56fa\u5b9a\u5956\u52b1\u3002<\/p>\n

    \"\u8131\u94a9\u98ce\u6ce2\u540e\u7684<\/p>\n

    \u8fd9\u7c7b\u591a\u5143\u5316\u7684\u6536\u76ca\u7ed3\u6784\uff0c\u4ee5\u53ca\u534f\u8bae\u5934\u5bf8\u5728 BTC \u3001 ETH \u95f4\u7684\u5206\u6563\u5316\u5bf9\u51b2\u548c\u9ad8\u8fbe 6,200 \u4e07\u7f8e\u5143\u7684\u50a8\u5907\u57fa\u91d1\uff0c\u5171\u540c\u4e3a Ethena \u7684\u57fa\u672c\u9762\u7a33\u5065\u6027\u63d0\u4f9b\u4e86\u6709\u529b\u7684\u652f\u6491\u3002<\/p>\n

    \u800c\u5728\u5e02\u573a\u60c5\u7eea\u6ce2\u52a8\u4e4b\u9645\uff0c\u9876\u7ea7\u673a\u6784\u7684\u80cc\u4e66\u4e5f\u4e3a Ethena \u7684\u957f\u671f\u524d\u666f\u6ce8\u5165\u4e86\u4fe1\u5fc3\u3002<\/strong>\u00a011 \u6708 15 \u65e5\uff0cMulticoin Capital \u5ba3\u5e03\u5df2\u901a\u8fc7\u65d7\u4e0b\u6d41\u52a8\u6027\u57fa\u91d1\u6295\u8d44\u534f\u8bae\u7684\u6cbb\u7406\u4ee3\u5e01 ENA \u3002<\/p>\n

    Multicoin Capital \u7684\u6295\u8d44\u903b\u8f91\u805a\u7126\u4e8e\u7a33\u5b9a\u5e01\u8d5b\u9053\u7684\u5de8\u5927\u6f5c\u529b\uff0c\u5176\u9884\u8ba1\u5c06\u7a33\u5b9a\u5e01\u5e02\u573a\u5c06\u6210\u957f\u81f3\u6570\u5146\u7f8e\u5143\uff0c\u5e76\u8ba4\u4e3a\u300c\u6536\u76ca\u7387\u662f\u6700\u7ec8\u7684\u7ade\u4e89\u4f18\u52bf\u300d\u3002\u4ed6\u4eec\u8ba4\u4e3a Ethena \u7684\u5408\u6210\u7f8e\u5143\u6a21\u578b\u53ef\u4ee5\u6709\u6548\u5730\u5c06\u5168\u7403\u5e02\u573a\u5bf9\u52a0\u5bc6\u8d44\u4ea7\u6760\u6746\u7684\u9700\u6c42\uff0c\u8f6c\u5316\u4e3a\u53ef\u89c2\u7684\u6536\u76ca\uff0c\u8fd9\u9879\u80fd\u529b\u4e5f\u8ba9 Ethena \u6709\u522b\u4e8e\u4f20\u7edf\u7684\u4e2d\u5fc3\u5316\u7a33\u5b9a\u5e01\u3002<\/p>\n

    \u4ece\u8d44\u672c\u89c6\u89d2\u6765\u770b\uff0cMulticoin Capital \u7684\u6295\u8d44\u91cd\u70b9\u4e3b\u8981\u5728\u4e8e\u534f\u8bae\u4f5c\u4e3a\u6536\u76ca\u578b\u7a33\u5b9a\u5e01\u53d1\u884c\u8005\u7684\u5e73\u53f0\u5316\u6f5c\u529b\u3002<\/strong>\u00a0Ethena \u7684\u89c4\u6a21\u3001\u54c1\u724c\u4e0e\u521b\u6536\u80fd\u529b\u4ee4\u5176\u5177\u5907\u4e86\u62d3\u5c55\u65b0\u4ea7\u54c1\u7ebf\u7684\u80fd\u529b\uff0c\u8fd9\u5c06\u4e3a\u534f\u8bae\u540e\u671f\u6269\u5f20\u57fa\u7840\u8bbe\u65bd\u4e1a\u52a1\u63d0\u4f9b\u6218\u7565\u548c\u8d44\u91d1\u5c42\u9762\u4e0a\u7684\u652f\u6301\u3002<\/p>\n

    \u5c3d\u7ba1\u9762\u5bf9 TVL \u8170\u65a9\u548c\u751f\u6001\u9879\u76ee\u843d\u5730\u7684\u7ec8\u6b62\uff0c\u4f46 Ethena \u4ecd\u83b7\u5f97\u521b\u7eaa\u5f55\u7684\u8425\u6536\u4e0e\u9876\u7ea7\u8d44\u672c\u7684\u9006\u52bf\u52a0\u6ce8\uff0c\u5e76\u6b63\u8bd5\u56fe\u901a\u8fc7\u300c\u7a33\u5b9a\u5e01\u5373\u670d\u52a1\u300d\u7684\u767d\u6807\u6218\u7565\u53ca\u8fdb\u4e00\u6b65\u62d3\u5bbd USDe \u7684\u5e94\u7528\u573a\u666f\uff0c\u6765\u6d88\u5316\u6d41\u52a8\u6027\u9000\u6f6e\u5e26\u6765\u7684\u51b2\u51fb\uff0c\u5e76\u5bfb\u627e\u65b0\u7684\u4e1a\u52a1\u589e\u91cf\u3002<\/p>\n

    \u5bf9 Ethena \u800c\u8a00\uff0c\u80fd\u5426\u987a\u5229\u4ece 2C \u7684\u9ad8\u6536\u76ca\u50a8\u84c4\u7f50\u8f6c\u578b\u4e3a 2B \u7684\u7a33\u5b9a\u5e01\u57fa\u7840\u8bbe\u65bd\uff0c\u5c06\u662f\u534f\u8bae\u80fd\u5426\u5230\u4e0b\u8f6e\u5468\u671f\u518d\u6500\u9ad8\u5cf0\u7684\u5173\u952e\u3002<\/p>\n

    \n

    \uff08\u4ee5\u4e0a\u5185\u5bb9\u83b7\u5408\u4f5c\u4f19\u4f34 PANews <\/strong>\u6388\u6743\u8282\u5f55\u53ca\u8f6c\u8f7d\uff0c\u539f\u6587\u8fde\u7ed3 \u00a0<\/strong><\/em>\uff09<\/strong><\/em><\/p>\n

    \n
    \"\u8131\u94a9\u98ce\u6ce2\u540e\u7684<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    \u4f5c\u8005\uff1aJAE\uff0cPANews \u51ed\u501f\u8457\u72ec\u7279\u7684 Delta \u4e2d\u6027\u5bf9\u51b2\u7b56\u7565\uff0cUSDe \u6210\u4e3a\u4e86\u4e00\u79cd\u6297\u5ba1\u67e5\u3001\u53ef\u6269\u5c55\uff0c\u4e14\u80fd\u591f […]<\/p>\n","protected":false},"author":2,"featured_media":1620,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/posts\/1619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1619"}],"version-history":[{"count":1,"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/posts\/1619\/revisions"}],"predecessor-version":[{"id":7390,"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/posts\/1619\/revisions\/7390"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=\/wp\/v2\/media\/1620"}],"wp:attachment":[{"href":"https:\/\/www.manwah.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.manwah.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}