{"id":2421,"date":"2025-12-09T14:53:44","date_gmt":"2025-12-09T06:53:44","guid":{"rendered":"https:\/\/www.yixiangtian.com\/?p=2421"},"modified":"2025-12-09T14:53:44","modified_gmt":"2025-12-09T06:53:44","slug":"messari%ef%bc%9ausde%e4%bd%95%e4%bb%a5%e8%b6%85%e8%b6%8adai%e6%88%90%e4%b8%ba%e5%85%a8%e7%90%83%e7%ac%ac%e4%b8%89%e5%a4%a7%e7%a8%b3%e5%ae%9a%e5%b8%81","status":"publish","type":"post","link":"http:\/\/www.yixiangtian.com\/?p=2421","title":{"rendered":"Messari\uff1aUSDe\u4f55\u4ee5\u8d85\u8d8aDAI\u6210\u4e3a\u5168\u7403\u7b2c\u4e09\u5927\u7a33\u5b9a\u5e01"},"content":{"rendered":"

Messari\uff1aUSDe\u4f55\u4ee5\u8d85\u8d8aDAI\u6210\u4e3a\u5168\u7403\u7b2c\u4e09\u5927\u7a33\u5b9a\u5e01<\/h1>\n
\n

\u4f5c\u8005\uff1a\u00a0Jake Koch-Gallup\uff0cMessari\u5206\u6790\u5e08\uff1b\u7f16\u8bd1\uff1a0xjs@\u91d1\u8272\u8d22\u7ecf<\/p>\n

\u672c\u5468\u65e9\u4e9b\u65f6\u5019\uff0cEthena \u7684 USDe \u8d85\u8d8a DAI\uff0c\u6210\u4e3a\u5168\u7403\u7b2c\u4e09\u5927\u7a33\u5b9a\u5e01\u3002\u5176\u603b\u9501\u5b9a\u4ef7\u503c (TVL) \u76ee\u524d\u5df2\u8d85\u8fc755 \u4ebf\u7f8e\u5143\u3002<\/p>\n

\"KnZemuXE8KvVPCawJot8Xu9wpO5IIHMwya9lPKJR.png\"<\/p>\n

\u901f\u89c8\u4e00\u4e9b\u4e8b\u5b9e\uff1a<\/h2>\n
    \n
  • \n

    \u6536\u76ca\u7387\u5feb\u7167\uff1a<\/strong>Ethena\u5f53\u524d\u6536\u76ca\u7387\u4e3a 24.5%\u3002\u81ea 2024 \u5e74 2 \u6708\u4ee5\u6765\uff0csUSDe \u6301\u6709\u8005\u4eab\u53d7\u7684\u5e73\u5747 APY \u4e3a 17.5%\uff0c\u5cf0\u503c\u4e3a 55.9%\uff082024 \u5e74 3 \u6708 7 \u65e5\uff09\uff0c\u6700\u4f4e\u4e3a 4.3%\uff082024 \u5e74 8 \u6708 8 \u65e5\uff09\u3002<\/p>\n<\/li>\n

  • \n

    \u521b\u7eaa\u5f55\u7684\u589e\u957f\uff1a<\/strong>Ethena \u5728 2024 \u5e74 2 \u6708\u516c\u5f00\u53d1\u884c\u540e\u4ec5\u56db\u4e2a\u6708\u5c31\u8fbe\u5230\u4e86 30 \u4ebf\u7f8e\u5143\u7684 TVL\uff0c\u6210\u4e3a\u52a0\u5bc6\u8d27\u5e01\u5386\u53f2\u4e0a\u589e\u957f\u6700\u5feb\u7684\u7f8e\u5143\u8ba1\u4ef7\u8d44\u4ea7\u3002\u5982\u4eca\uff0c\u5b83\u7684TVL\u5df2\u8d85\u8fc7 55 \u4ebf\u7f8e\u5143\u3002<\/p>\n<\/li>\n

  • \n

    ENA\u4ef7\u683c\u8868\u73b0\uff1a<\/strong>Ethena \u4ee3\u5e01ENA\u76ee\u524d\u4ea4\u6613\u4ef7\u683c\u4e3a 0.91 \u7f8e\u5143\uff0c\u5176\u5b8c\u5168\u7a00\u91ca\u4f30\u503c (FDV) \u4e3a 136 \u4ebf\u7f8e\u5143\u3002\u81ea2024 \u5e74 4 \u6708 2 \u65e5TGE\u4ee5\u6765\uff0cENA \u4e8e 2024 \u5e74 9 \u6708 6 \u65e5\u8dcc\u81f3 0.19 \u7f8e\u5143\u7684\u4f4e\u70b9\uff0c\u81ea\u90a3\u65f6\u4ee5\u6765\u4e0a\u6da8\u4e86 361.7%\u3002<\/p>\n<\/li>\n

  • \n

    \u8d39\u7528\uff1a<\/strong>\u5728\u8fc7\u53bb\u7684\u4e00\u5e74\u91cc\uff0cEthena \u6536\u53d6\u7684\u8d39\u7528\u63a5\u8fd1 2 \u4ebf\u7f8e\u5143\uff0c\u603b\u4f53\u6392\u540d\u7b2c 16 \u4f4d\u3002<\/p>\n<\/li>\n

  • \n

    \u8bf7\u8bb0\u4f4f\uff1a<\/strong>\u4e0b\u4e00\u4e2a\u91cd\u5927\u4ee3\u5e01\u89e3\u9501\u2014 \u2014 20.6 \u4ebf\u679a ENA \u2014 \u2014 \u5c06\u4e8e 2025 \u5e74 4 \u6708 2 \u65e5\u5230\u6765\u3002<\/p>\n<\/li>\n<\/ul>\n

    Ethena\u7684\u201c\u4e92\u8054\u7f51\u503a\u5238\u201d\u5982\u4f55\u8fd0\u4f5c<\/h2>\n

    Ethena \u7684 USDe \u5b8c\u5168\u7531 ETH \u548c BTC \u652f\u6301\uff0c\u4f7f\u7528\u76f8\u5e94\u7684\u7a7a\u5934\u671f\u8d27\u6765\u7ef4\u6301delta \u4e2d\u6027\u6295\u8d44\u7ec4\u5408\u3002\u7b80\u5355\u6765\u8bf4\uff0c\u5f53\u6295\u8d44\u7ec4\u5408\u7684 delta \u63a5\u8fd1\u4e8e\u96f6\u65f6\uff0c\u65e0\u8bba\u5e02\u573a\u5982\u4f55\u6ce2\u52a8\uff0cUSDe \u90fd\u4f1a\u4e0e\u7f8e\u5143\u6302\u94a9\u3002Ethena \u5229\u7528\u8d28\u62bc\u8d44\u4ea7\u7684\u6536\u76ca\uff08\u60f3\u60f3 Lido \u7684stETH\uff09\uff0c\u52a0\u4e0a\u6c38\u7eed\u5408\u7ea6\u548c\u671f\u8d27\u5e02\u573a\u7684\u878d\u8d44\u548c\u57fa\u5dee\uff0c\u5c06\u8fd9\u4e9b\u6536\u76ca\u4f20\u9012\u7ed9 sUSDe \u6301\u6709\u8005\u3002<\/p>\n

    \"dryjuhpzZbfvI26rgNpv0NcZJOU9g1ti8IYTdnz6.png\"<\/p>\n

    Ethena\u98ce\u9669<\/h2>\n
      \n
    • \n

      \u8d44\u91d1\u98ce\u9669\uff1a<\/strong>\u6700\u5927\u7684\u62c5\u5fe7\u662f\u4ec0\u4e48\uff1fETH \u548c BTC \u7684\u8d1f\u8d44\u91d1\u5229\u7387\u6301\u7eed\u3002\u4e3a\u4e86\u7f13\u89e3\u8fd9\u79cd\u60c5\u51b5\uff0c\u5982\u679c\u6536\u5165\u964d\u81f3\u96f6\u4ee5\u4e0b\uff0c Ethena \u7684 4700 \u4e07\u7f8e\u5143\u50a8\u5907\u57fa\u91d1\u5c06\u4ecb\u5165\u3002\u5728 2021-2023 \u5e74\u671f\u95f4\uff0c\u8d1f\u6536\u5165\u5929\u6570\u4ec5\u5360\u6570\u768410.34%\uff0c\u5373\u4f7f\u5728 2024 \u5e74 8 \u6708 5 \u65e5\u5168\u7403\u5e02\u573a\u629b\u552e\u671f\u95f4\uff08\u8d4e\u56de\u91d1\u989d\u8d85\u8fc7 5000 \u4e07\u7f8e\u5143\uff09\uff0cUSDe \u4ecd\u4fdd\u6301\u5176\u6302\u94a9\u5e76\u4fdd\u6301\u5b8c\u5168\u62b5\u62bc\u3002\u5728 8 \u6708\u4efd\u7ecf\u5386\u4e86\u4e00\u7cfb\u5217\u8d1f\u8d44\u91d1\u65e5\u4e4b\u540e\uff0csUSDe \u7684 APY \u4ecd\u7136\u4fdd\u6301\u6b63\u503c\uff082024 \u5e74 8 \u6708 8 \u65e5\u89e6\u5e95\u81f3 4.34%\uff09\u3002<\/p>\n<\/li>\n

    • \n

      \u5176\u4ed6\u6f5c\u5728\u9677\u9631\uff1a<\/strong>\u4ea4\u6613\u6240\u5012\u95ed\u3001\u6e05\u7b97\u3001\u62b5\u62bc\u548c\u6258\u7ba1\u98ce\u9669\u59cb\u7ec8\u5b58\u5728\u3002Ethena \u7684\u4f4e\u6760\u6746\u548c\u4e25\u683c\u7684\u62b5\u62bc\u5934\u5bf8\u6709\u52a9\u4e8e\u9632\u8303 stETH \u8131\u94a9\u548c\u4e25\u91cd\u7684\u6e05\u7b97\u4e8b\u4ef6\u3002\u4e0d\u8fc7\uff0c\u7531\u4e8e\u4f9d\u8d56\u573a\u5916\u7ed3\u7b97\u63d0\u4f9b\u5546\uff0c\u5b58\u5728\u4e2d\u5fc3\u5316\u98ce\u9669\u3002Ethena \u79ef\u6781\u7ba1\u7406\u62b5\u62bc\u54c1\u98ce\u9669\u548c\u4e2d\u5fc3\u5316\u98ce\u9669\uff0c\u4ee5\u6700\u5927\u9650\u5ea6\u5730\u51cf\u5c11\u8fd9\u4e9b\u8106\u5f31\u6027\u3002<\/p>\n<\/li>\n<\/ul>\n

      \u4e0b\u4e00\u6b65\u662f\u4ec0\u4e48\uff1f<\/h2>\n

      Ethena \u5c06 sUSDe\u6574\u5408\u5230Aave\u4e2d\u5927\u83b7\u6210\u529f\uff0c\u4f7f\u5176\u6210\u4e3a DeFi \u9876\u7ea7\u8d27\u5e01\u5e02\u573a\u4e0a\u589e\u957f\u6700\u5feb\u7684\u8d44\u4ea7\u3002\u968f\u7740\u8d8a\u6765\u8d8a\u591a\u7684\u673a\u6784\u503e\u5411\u4e8e\u7a33\u5b9a\u5e01\uff0csUSDe \u4e45\u7ecf\u8003\u9a8c\u7684\u8868\u73b0\u548c\u5f3a\u52b2\u7684\u56de\u62a5\u4f7f\u5176\u6210\u4e3a\u9996\u5c48\u4e00\u6307\u7684\u201c\u4e92\u8054\u7f51\u503a\u5238\u201d\u3002\u5168\u7403\u503a\u5238\u5e02\u573a\u4ef7\u503c 135 \u4e07\u4ebf\u7f8e\u5143\uff08\u6ca1\u9519\uff0c\u5c31\u662f\u201c\u4e07\u4ebf\u201d\u8fd9\u4e2a\u8bcd\uff09\uff0c\u672a\u6765\u6f5c\u529b\u5de8\u5927\u3002sUSDe \u53ef\u80fd\u4f1a\u6210\u4e3a\u9996\u9009\u503a\u5238\uff0c\u751a\u81f3\u8d85\u8fc7\u5f3a\u5927\u7684\u7f8e\u56fd\u56fd\u503a\u3002<\/p>\n<\/div>\n

      \n
      \n
      <\/div>\n
      \n
      \n

      <\/h3>\n

      \n<\/div>\n

      \u67e5\u770b\u66f4\u591a<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

      <\/p>\n","protected":false},"excerpt":{"rendered":"

      Messari\uff1aUSDe\u4f55\u4ee5\u8d85\u8d8aDAI\u6210\u4e3a\u5168\u7403\u7b2c\u4e09\u5927\u7a33\u5b9a\u5e01 \u4f5c\u8005\uff1a\u00a0Jake Koch-Gallup\uff0cMess […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2421","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"http:\/\/www.yixiangtian.com\/index.php?rest_route=\/wp\/v2\/posts\/2421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.yixiangtian.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.yixiangtian.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.yixiangtian.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.yixiangtian.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2421"}],"version-history":[{"count":1,"href":"http:\/\/www.yixiangtian.com\/index.php?rest_route=\/wp\/v2\/posts\/2421\/revisions"}],"predecessor-version":[{"id":4176,"href":"http:\/\/www.yixiangtian.com\/index.php?rest_route=\/wp\/v2\/posts\/2421\/revisions\/4176"}],"wp:attachment":[{"href":"http:\/\/www.yixiangtian.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.yixiangtian.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2421"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.yixiangtian.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}