{"id":52553,"date":"2025-02-19T15:22:15","date_gmt":"2025-02-19T15:22:15","guid":{"rendered":"https:\/\/fabricegrinda.com\/midas-liquid-yield-tokens-%ef%bc%88lyt%ef%bc%89%ef%bc%9a%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%94%b6%e7%9b%8a%e7%ad%96%e7%95%a5%e7%9a%84%e6%96%b0%e6%99%82%e4%bb%a3\/"},"modified":"2025-03-04T18:57:09","modified_gmt":"2025-03-04T18:57:09","slug":"midas-liquid-yield-tokens-%ef%bc%88lyt%ef%bc%89%ef%bc%9a%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%94%b6%e7%9b%8a%e7%ad%96%e7%95%a5%e7%9a%84%e6%96%b0%e6%99%82%e4%bb%a3","status":"publish","type":"post","link":"https:\/\/grinda.org\/zh-hant\/midas-liquid-yield-tokens-%ef%bc%88lyt%ef%bc%89%ef%bc%9a%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%94%b6%e7%9b%8a%e7%ad%96%e7%95%a5%e7%9a%84%e6%96%b0%e6%99%82%e4%bb%a3\/","title":{"rendered":"Midas Liquid Yield Tokens \uff08LYT\uff09\uff1a\u4ee3\u5e63\u5316\u6536\u76ca\u7b56\u7565\u7684\u65b0\u6642\u4ee3"},"content":{"rendered":"\n<p>\u7a69\u5b9a\u5e63\u88ab\u8b7d\u70ba\u52a0\u5bc6\u751f\u614b\u7cfb\u7d71\u7684\u57fa\u77f3\uff0c\u5728\u52d5\u8569\u7684\u5e02\u5834\u4e2d\u63d0\u4f9b\u7a69\u5b9a\u6027\uff0c\u4e26\u6709\u671b\u5fb9\u5e95\u6539\u8b8a\u652f\u4ed8\u8ecc\u9053\u3002\u7136\u800c\uff0c\u5728\u8868\u9762\u4e4b\u4e0b\uff0c\u7a69\u5b9a\u5e63\u4f9b\u61c9\u5f9e\u6839\u672c\u4e0a\u662f\u7531\u93c8\u4e0a\u6536\u76ca\u7387\u9a45\u52d5\u7684\u3002 <\/p>\n\n<p>\u5728\u904e\u53bb\u7684\u5169\u500b\u5e02\u5834\u9031\u671f\u4e2d\uff0c\u7a69\u5b9a\u5e63\u4f9b\u61c9\u91cf\u8207\u6536\u76ca\u7387\u76f4\u63a5\u53cd\u61c9\u800c\u64f4\u5927\u548c\u6536\u7e2e\u3002\u7576\u93c8\u4e0a\u6536\u76ca\u7387\u8d85\u904e\u7f8e\u570b\u570b\u5eab\u5238 \uff08T-Bills\uff09 \u6642\uff0c\u5c0d\u7a69\u5b9a\u5e63\u7684\u9700\u6c42\u98c6\u5347\u2014\u2014\u5c24\u5176\u662f\u5728 DeFi Summer \u4e4b\u5f8c\uff0c\u7576\u6642\u7e3d\u4f9b\u61c9\u91cf\u5728\u77ed\u77ed\u5169\u5e74\u5167\u5f9e\u4e0d\u5230 <strong>100 \u5104\u7f8e\u5143<\/strong> \u98c6\u5347\u81f3\u8d85\u904e <strong>1500 \u5104\u7f8e\u5143 <\/strong>\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u7576\u93c8\u4e0a\u6536\u76ca\u7387\u4f4e\u65bc\u7f8e\u5143\u7121\u98a8\u96aa\u5229\u7387\u6642\uff0c\u7a69\u5b9a\u5e63\u4f9b\u61c9\u7684\u6536\u7e2e\u901f\u5ea6\u8207 22 \u5e74\u7b2c\u4e00\u5b63\u5ea6\u81f3 23 \u5e74\u7b2c\u4e09\u5b63\u5ea6\u7684\u4e0b\u964d\u4e00\u6a23\u5feb\u3002\u6700\u8fd1\u7684\u589e\u9577\u662f\u7531 contango \u52a0\u5bc6\u5e02\u5834\u5c0e\u81f4\u7684\u9ad8\u93c8\u4e0a\u6536\u76ca\u7387\u4f86\u89e3\u91cb\u7684\u3002   <\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1759\" height=\"990\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2025\/02\/image-1.png\" alt=\"\" class=\"wp-image-51629\" style=\"width:660px\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-1.png 1759w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-1-768x432.png 768w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-1-1536x864.png 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-1-1200x675.png 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-1-1320x743.png 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><figcaption class=\"wp-element-caption\">\u8cc7\u6599\u4f86\u6e90\uff1aDeFiLlama<\/figcaption><\/figure>\n<\/div>\n<p><strong>\u554f\u984c\uff1a\u7a69\u5b9a\u5e63\u4e0d\u7a69\u5b9a<\/strong><br\/>\u5728\u5c0b\u6c42\u6536\u76ca\u7684\u904e\u7a0b\u4e2d\uff0c\u7a69\u5b9a\u5e63\u5df2\u7d93\u6f14\u8b8a\u6210 <strong>\u93c8\u4e0a\u5c0d\u6c96\u57fa\u91d1\u7b56\u7565 <\/strong>\uff08\u201c\u7522\u751f\u6536\u76ca\u7684\u201d\u7a69\u5b9a\u5e63\u201c\uff09\uff0c\u6b63\u5982 Ethena \u548c\u5176\u4ed6\u516c\u53f8\u7684\u589e\u9577\u6240\u8868\u660e\u7684\u90a3\u6a23\u3002\u5728\u9019\u7a2e\u7d50\u69cb\u4e2d\uff0c\u6536\u76ca\u901a\u904e\u5169\u500b\u4ee3\u5e63\u5206\u914d\u2014\u2014\u4e00\u500b\u50b3\u7d71\u7684\u7a69\u5b9a\u5e63\uff0c\u5b83\u53ef\u4ee5\u88ab\u8cea\u62bc\u5230\u7b2c\u4e8c\u500b\u4ee3\u5e63\u4e2d\uff0c\u4ee5\u8cfa\u53d6\u6a19\u7684\u62b5\u62bc\u54c1\u7684\u6536\u5165\u3002\u4e4b\u6240\u4ee5\u51fa\u73fe\u9019\u7a2e\u7d50\u69cb\uff0c\u662f\u56e0\u70ba\u767c\u884c\u300c\u7a69\u5b9a\u300d\u5e63\u907f\u514d\u4e86\u88ab\u6b78\u985e\u70ba\u8b49\u5238\u6216\u96c6\u9ad4\u6295\u8cc7\u8a08\u5283\uff0c\u800c\u9019\u9700\u8981\u76e3\u7ba1\u90e8\u9580\u7684\u6279\u51c6\u3002  <\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"4546\" height=\"1708\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2025\/02\/image-2.png\" alt=\"\" class=\"wp-image-51656\" style=\"width:660px\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-2.png 4546w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-2-768x289.png 768w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-2-1536x577.png 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-2-2048x769.png 2048w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-2-1200x451.png 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-2-1320x496.png 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure>\n<\/div>\n<p>\u901a\u904e\u5c07\u9019\u4e9b\u7522\u54c1\u5b9a\u7fa9\u70ba\u300c\u51c6\u7a69\u5b9a\u5e63\u300d\uff0c\u767c\u884c\u4eba\u53ef\u4ee5\u5229\u7528\u76e3\u7ba1\u6f0f\u6d1e\u2014\u2014\u4f46\u9019\u662f\u4ee5\u5f15\u5165\u7cfb\u7d71\u6027\u98a8\u96aa\u70ba\u4ee3\u50f9\u7684\uff0c\u5305\u62ec\uff1a<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>\u812b\u9264\u4e8b\u4ef6<\/strong> &#8211; \u5982\u679c\u6295\u8cc7\u7d44\u5408\u8868\u73fe\u4e0d\u4f73\uff0c\u6d41\u52d5\u6027\u5c31\u6703\u8feb\u4f7f\u767c\u884c\u4eba\u9032\u884c\u6e1b\u50f9\u92b7\u552e\uff0c\u5f9e\u800c\u7834\u58de\u6574\u500b\u751f\u614b\u7cfb\u7d71\u7684\u7a69\u5b9a\u3002<\/li>\n\n\n\n<li><strong>\u932f\u4f4d\u7684\u6fc0\u52f5\u63aa\u65bd<\/strong> &#8211; \u767c\u884c\u4eba\u8ffd\u6c42\u66f4\u9ad8\u7684\u6536\u76ca\u7387\u4ee5\u5438\u5f15TVL\uff0c\u901a\u5e38\u6703\u5c07\u6295\u8cc7\u7d44\u5408\u63a8\u5411\u98a8\u96aa\u8f03\u9ad8\u7684\u8cc7\u7522\u3002<\/li>\n\n\n\n<li><strong>\u76e3\u7ba1\u4e0d\u78ba\u5b9a\u6027<\/strong> &#8211; \u5c07\u5c0d\u6c96\u57fa\u91d1\u7b56\u7565\u5305\u88dd\u6210\u300c\u51c6\u7a69\u5b9a\u5e63\u300d\u6703\u7522\u751f\u5408\u898f\u98a8\u96aa\uff0c\u4f7f\u6295\u8cc7\u8005\u7121\u6cd5\u5c0d\u6a19\u7684\u8cc7\u7522\u63d0\u51fa\u6cd5\u5f8b\u5b9a\u7fa9\u7684\u7d22\u8ce0\u3002<\/li>\n<\/ul>\n\n<p>\u6b63\u5982 Steakhouse Financial \u5728\u5176\u7a69\u5b9a\u5e63\u624b\u518a\u4e2d\u6307\u51fa\u7684\u90a3\u6a23\uff1a<\/p>\n\n<p><em>\u201c\u7a69\u5b9a\u5e63\u53d7\u5230\u6d41\u52d5\u6027\u548c\u511f\u4ed8\u80fd\u529b\u7684\u9650\u5236\u3002\u8981\u767c\u63ee\u4f5c\u7528\uff0c\u7a69\u5b9a\u5e63\u5fc5\u9808\u6eff\u8db3\u9019\u5169\u500b\u786c\u6027\u9650\u5236\u3002<\/em><\/p>\n\n<p>\u7136\u800c\uff0c\u7522\u751f\u6536\u76ca\u7684\u7a69\u5b9a\u5e63\u672c\u8eab\u5c31\u5f37\u8abf\u9019\u4e9b\u9650\u5236\u3002\u5438\u5f15TVL\u7684\u7af6\u722d\u6703\u5c0e\u81f4\u5169\u500b\u7cfb\u7d71\u6027\u5f8c\u679c\uff1a <\/p>\n\n<ol class=\"wp-block-list\">\n<li>\u64e0\u5165\u76f8\u540c\u7684\u6536\u76ca\u6a5f\u6703\uff0c\u6e1b\u5c11\u56de\u5831<\/li>\n\n\n\n<li>\u7cfb\u7d71\u6027\u8106\u5f31\u6027\u589e\u52a0\uff0c\u812b\u9264\u98a8\u96aa\u52a0\u5287<\/li>\n<\/ol>\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-default\"\/>\n\n<p><strong>\u5f8c\u679c\uff1a\u8f03\u4f4e\u7684\u56de\u5831\u548c\u589e\u52a0\u7684\u7cfb\u7d71\u6027\u98a8\u96aa<\/strong><\/p>\n\n<p>\u901a\u904e\u8a2d\u7f6e <strong>1 \u7f8e\u5143\u7684\u8ca0\u50b5<\/strong>\uff0c\u5f9e\u6280\u8853\u4e0a\u8b1b\uff0c\u53ef <strong>\u6295\u8cc7<\/strong> \u7684\u6536\u76ca\u7a69\u5b9a\u5e63\u50c5\u9650\u65bc <strong>\u96f6\u671f\u9650<\/strong> \u62b5\u62bc\u54c1\u3002\u9019\u6703\u5c07\u6240\u6709\u767c\u884c\u4eba\u7684\u8cc7\u7522\u5f59\u96c6\u5230\u76f8\u540c\u7684\u4ea4\u6613\u4e2d\uff0c\u5f9e\u800c\u5c0e\u81f4\u56de\u5831\u905e\u6e1b\u3002\u5f9e\u6b77\u53f2\u4e0a\u770b\uff0c\u64c1\u64e0\u7684\u4ea4\u6613\uff0c\u4f8b\u5982\u5927\u5b97\u5546\u54c1\u5e02\u5834\u7684\u57fa\u5dee\u4ea4\u6613\uff0c\u4e00\u76f4\u8868\u73fe\u4e0d\u4f73\u3002\u5b78\u8853\u754c\u5df2\u5c0d\u5e02\u5834\u64c1\u64e0\u7684\u5f71\u97ff\u9032\u884c\u4e86\u5ee3\u6cdb\u7814\u7a76\uff0c\u5c0e\u81f4\u8f03\u4f4e\u7684\u56de\u5831\u548c\u66f4\u9ad8\u7684\u98a8\u96aa\u3002\u4f8b\u5982\uff0c\u5927\u5b97\u5546\u54c1\u5e02\u5834\u7684\u57fa\u5dee\u4ea4\u6613\u5c0e\u81f4 24 \u5e74\u671f\u9593\u7684\u56de\u5831\u7387\u4e00\u76f4\u8f03\u4f4e\u3002    <\/p>\n<div class=\"wp-block-image is-style-default\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"930\" height=\"740\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2025\/02\/image-3.png\" alt=\"\" class=\"wp-image-51682\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-3.png 930w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-3-768x611.png 768w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><figcaption class=\"wp-element-caption\">\u4f86\u6e90\uff1aWenjin Kang\u3001K. Geert Rouwenhorst \u548c Ke Tang \u7684\u300a\u64c1\u64e0\u548c\u56e0\u5b50\u56de\u5831\u300b<\/figcaption><\/figure>\n<\/div>\n<p>\u5c0d\u6536\u76ca\u7387\u7684\u4e0d\u61c8\u8ffd\u6c42\u5c07\u7a69\u5b9a\u5e63\u767c\u884c\u5546\u63a8\u5411\u4e86\u98a8\u96aa\u66f2\u7dda\u7684\u9032\u4e00\u6b65\u4e0a\u5347\u3002\u5728\u6b64\u904e\u7a0b\u4e2d\uff0c\u5b83\u5011\u5f15\u5165\u4e86\u7cfb\u7d71\u6027\u7684\u8106\u5f31\u6027\uff0c\u5373\u62b5\u62bc\u54c1\u6c60\u4e2d\u7684\u55ae\u500b\u8584\u5f31\u74b0\u7bc0\u5c31\u53ef\u80fd\u5c0e\u81f4\u7d1a\u806f\u6545\u969c\u3002 <\/p>\n\n<p>\u6b64\u5916\uff0c\u7a69\u5b9a\u5e63\u767c\u884c\u5546\u4f9d\u9760\u69d3\u687f\u548c\u518d\u62b5\u62bc\u4f86\u63a8\u52d5\u63a1\u7528\u3002\u9019\u5275\u9020\u4e86\u4e00\u500b\u7cfb\u7d71\uff0c\u5176\u4e2d\u9644\u5c6c\u7d50\u69cb\u7684\u4e00\u90e8\u5206\u4e2d\u7684\u61c9\u529b\u53ef\u4ee5\u89f8\u767c\u7d1a\u806f\u5931\u6548\u3002 <strong>2022 \u5e74\u7684 stETH<\/strong> <strong>\u6298\u50f9<\/strong>\u3001 <strong>UST \u7684\u5d29\u76e4<\/strong>\u4ee5\u53ca <strong>\u6700\u8fd1 USD0++ \u548c USDz \u7684\u812b\u9264<\/strong> \u90fd\u53cd\u6620\u4e86\u9019\u7a2e\u8106\u5f31\u6027\u3002  <\/p>\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-default\"\/>\n\n<p><strong>\u89e3\u6c7a\u65b9\u6848\uff1aLiquid Yield Tokens \uff08LYT\uff09<\/strong><\/p>\n\n<p>\u5728 <strong>Midas<\/strong>\uff0c\u6211\u5011\u5efa\u7acb\u4e86\u4e00\u7a2e\u5168\u65b0\u7684\u4ee3\u5e63\u5316\u6536\u76ca\u65b9\u6cd5\u2014\u2014<strong>Liquid Yield Tokens \uff08LYT\uff09\u3002<\/strong><\/p>\n\n<p>LYT \u6c92\u6709\u5c07\u6536\u76ca\u5f37\u52a0\u7d66\u8106\u5f31\u7684\u7a69\u5b9a\u5e63\u5305\u88dd\u5668\uff0c\u800c\u662f\u5f15\u5165\u4e86\u4e00\u500b\u5c08\u9580\u7684\u93c8\u4e0a\u6295\u8cc7\u7b56\u7565\u6846\u67b6\uff1a<\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>\u6d6e\u52d5\u53c3\u8003\u503c<\/strong> &#8211; \u8207\u7a69\u5b9a\u5e63\u4e0d\u540c\uff0cLYT \u6c92\u6709\u56fa\u5b9a\u7684 1 \u7f8e\u5143\u6302\u9264\u3002\u5b83\u5011\u7684\u50f9\u503c\u6839\u64da\u6027\u80fd\u800c\u6ce2\u52d5\uff0c\u5f9e\u800c\u6d88\u9664\u4e86\u812b\u9264\u98a8\u96aa\u3002 <\/li>\n\n\n\n<li>\u64f4\u5927\u6295\u8cc7\u7bc4\u570d &#8211; \u53d6\u6d88 1 \u7f8e\u5143\u8ca0\u50b5\u9650\u5236\uff0c\u91cb\u653e\u4e86\u66f4\u5ee3\u6cdb\u7684\u6536\u76ca\u8cc7\u7522\uff0c\u512a\u5316\u4e86\u98a8\u96aa\u8abf\u6574\u540e\u7684\u56de\u5831\u3002<\/li>\n\n\n\n<li><strong>\u5c08\u696d\u98a8\u96aa\u7ba1\u7406<\/strong> &#8211; \u6bcf\u500b LYT \u90fd\u7531\u6a5f\u69cb\u7d1a\u98a8\u96aa\u7ba1\u7406\u4eba\u7a4d\u6975\u7ba1\u7406\uff0c\u4e26\u6839\u64da\u5e02\u5834\u689d\u4ef6\u52d5\u614b\u8abf\u6574\u3002<\/li>\n\n\n\n<li><strong>\u5171\u7528\u6d41\u52d5\u6027\u548c\u539f\u5b50\u8d16\u56de<\/strong> &#8211; LYTs\u5171\u7528\u4e00\u500b\u5171\u540c\u7684\u6d41\u52d5\u6027\u6c60\uff0c\u6d88\u9664\u4e86\u5c0d\u5206\u6563\u7684LPs\u7684\u9700\u6c42\uff0c\u5be6\u73fe\u4e86\u7121\u7e2b\u7684DeFi\u96c6\u6210\u3002<\/li>\n\n\n\n<li><strong>\u5927\u898f\u6a21\u734e\u52f5\u6316\u7926<\/strong> &#8211; LYT \u6301\u6709\u8005\u53d7\u76ca\u65bc Plume\u3001Etherlink \u548c TAC \u7b49\u5354\u5b9a\u7684\u984d\u5916\u6fc0\u52f5\u63aa\u65bd\u3002<\/li>\n<\/ul>\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-default\"\/>\n\n<p><strong>Liquid Yield Tokens \uff08LYT\uff09 \u5982\u4f55\u904b\u4f5c<\/strong><\/p>\n\n<p><strong>Liquid Yield Token \uff08LYT\uff09<\/strong> \u901a\u904e Midas \u7684\u958b\u653e\u548c\u53ef\u7d44\u5408\u57fa\u790e\u8a2d\u65bd\u767c\u884c\u3002\u9019\u7a2e\u65b9\u6cd5\u5c07\u9aee\u5361\u884c\u548c\u98a8\u96aa\u7ba1\u7406\u8005\u7684\u89d2\u8272\u5206\u958b\uff0c\u4f7f\u7528\u6236\u80fd\u5920\u5f9e\u5b9a\u88fd\u7684\u98a8\u96aa\u7ba1\u7406\u4e2d\u53d7\u76ca\u3002 <\/p>\n\n<p>\u6bcf\u500b\u4ee3\u5e63\u7684\u62b5\u62bc\u54c1\u90fd\u7531 <strong>\u5c08\u9580\u7684\u98a8\u96aa\u7ba1\u7406\u4eba\u54e1<\/strong> \u7ba1\u7406\uff0c\u4ed6\u5011\u5728\u7279\u5b9a\u6388\u6b0a\u4e0b\u904b\u4f5c\uff0c\u4e26\u5728\u93c8\u4e0a\u900f\u660e\u5730\u5831\u544a\u3002\u98a8\u96aa\u7d93\u7406\u5c07\u62b5\u62bc\u54c1\u52d5\u614b\u5206\u914d\u7d66\u6700\u4f73\u6a5f\u6703\uff0c\u9069\u61c9\u4e0d\u65b7\u8b8a\u5316\u7684\u5e02\u5834\u689d\u4ef6\uff0c\u5728\u7ba1\u7406\u98a8\u96aa\u7684\u540c\u6642\u6355\u6349\u963f\u723e\u6cd5\u3002 <\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1928\" height=\"1097\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2025\/02\/image-4.png\" alt=\"\" class=\"wp-image-51707\" style=\"width:660px\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-4.png 1928w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-4-768x437.png 768w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-4-1536x874.png 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-4-1200x683.png 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-4-1320x751.png 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure>\n<\/div>\n<p>LYT \u662f\u901a\u904e <strong>Midas \u7684\u958b\u653e\u5f0f\u7d44\u5408\u578b\u57fa\u790e\u8a2d\u65bd<\/strong>\u767c\u884c\u7684\u3002\u8207\u7a69\u5b9a\u5e63\u4e0d\u540c\uff0cLYT \u4ee3\u5e63\u660e\u78ba\u5340\u5206\u4e86\u767c\u884c\u4eba\u548c\u98a8\u96aa\u7ba1\u7406\u8005\u7684\u89d2\u8272\u3002\u6bcf\u500b LYT \u90fd\u7531\u5c08\u9580\u7684\u98a8\u96aa\u7ba1\u7406\u4eba\u7ba1\u7406\uff0c\u4ed6\u5011\u5c07\u62b5\u62bc\u54c1\u52d5\u614b\u5206\u914d\u7d66\u6700\u4f73\u98a8\u96aa\u56de\u5831\u7b56\u7565\u3002  <\/p>\n\n<p>\u6bcf\u500b LYT \u90fd\u4f5c\u70ba <strong>\u7121\u9700\u8a31\u53ef\u7684 ERC-20 \u4ee3\u5e63<\/strong>\u767c\u884c\uff0c\u4f7f\u5176\u8207\u66f4\u5ee3\u6cdb\u7684 DeFi \u751f\u614b\u7cfb\u7d71\u5b8c\u5168\u53ef\u7d44\u5408\u3002<\/p>\n\n<p>\u5728\u6240\u6709 LYT \u4e2d\uff0c <strong>Midas \u90fd\u5be6\u65bd\u4e86\u5171\u7528\u6d41\u52d5\u6027\u6c60\u4ee5\u5be6\u73fe\u5373\u6642\u8d16\u56de<\/strong>\u3002LYT \u4e0d\u9700\u8981\u6d41\u52d5\u6027\u6316\u7926\u6fc0\u52f5\uff0c\u800c\u662f\u5c08\u70ba\u8cc7\u672c\u9ad8\u6548\u64f4\u5c55\u548c DeFi \u6df1\u5ea6\u96c6\u6210\u800c\u8a2d\u8a08\u3002 <strong>Morpho<\/strong>\u3001 <strong>Euler<\/strong> \u548c <strong>Anja<\/strong> \u7b49\u5354\u8b70\u5df2\u7d93\u652f\u63f4 LYT\u3002  <\/p>\n\n<hr class=\"wp-block-separator aligncenter has-alpha-channel-opacity is-style-default\"\/>\n\n<p><strong>\u4ecb\u7d39\u4e09\u7a2e\u65b0\u7684 LYT<\/strong><\/p>\n\n<p>\u4eca\u5929\uff0c\u6211\u5011\u63a8\u51fa\u4e86 <strong>mRE7YIELD<\/strong>\u3001 <strong>mEDGE<\/strong> \u548c <strong>mMEV<\/strong>\uff0c\u6bcf\u6b3e\u90fd\u7531\u9802\u7d1a\u516c\u53f8\u9032\u884c\u98a8\u96aa\u7ba1\u7406\u3002<\/p>\n\n<p class=\"has-text-align-left\"><strong>mRE7YIELD \u2013 \u7531 RE7 Capital \u9032\u884c\u98a8\u96aa\u7ba1\u7406<\/strong><\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"2173\" height=\"1221\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2025\/02\/image-5.png\" alt=\"\" class=\"wp-image-51732\" style=\"width:660px\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-5.png 2173w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-5-768x432.png 768w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-5-1536x863.png 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-5-2048x1151.png 2048w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-5-1200x674.png 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-5-1320x742.png 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure>\n<\/div>\n<p>RE7 Capital \u662f\u4e00\u5bb6\u7814\u7a76\u9a45\u52d5\u7684\u6578\u4f4d\u8cc7\u7522\u6295\u8cc7\u516c\u53f8\uff0c\u5c08\u6ce8\u65bc DeFi \u6536\u76ca\u7387\u548c\u6d41\u52d5\u6027 alpha \u7b56\u7565\u3002mRE7YIELD \u63a1\u7528\u6210\u719f\u7684\u6a5f\u69cb\u7d1a\u65b9\u6cd5\uff0c\u63d0\u4f9b\u5c0d\u7d50\u69cb\u6027\u6536\u76ca\u7522\u54c1\u7684\u4e3b\u52d5\u7ba1\u7406\u655e\u53e3\u3002 <\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7576\u524d\u5e74\u5316\u6536\u76ca\u7387\uff1a20.83%<\/strong><\/li>\n\n\n\n<li><strong>\u6a5f\u69cb\u7d1a\u7d50\u69cb\u6027\u6536\u76ca\u7b56\u7565<\/strong><\/li>\n\n\n\n<li><strong>\u7a4d\u6975\u7ba1\u7406\u4ee5\u6355\u6349\u5e02\u5834\u4f4e\u6548\u7387<\/strong><\/li>\n<\/ul>\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-5e6b19ed wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button has-custom-width wp-block-button__width-75 has-custom-font-size is-style-fill has-medium-font-size\"><a class=\"wp-block-button__link has-white-color has-bright-blue-background-color has-text-color has-background has-link-color has-text-align-center wp-element-button\" href=\"https:\/\/lajewo.clicks.mlsend2.com\/td\/c\/eyJ2Ijoie1wiYVwiOjEyMDI0MzYsXCJsXCI6MTQ2MjQyNDY3MjQwMzQ3MTA1LFwiclwiOjE0NjI0MjQ4MDc1NDM5NDI2N30iLCJzIjoiNjdhMGJmMjEyZDk4NGU3NCJ9\" target=\"_blank\" rel=\"noreferrer noopener\">\u6295\u8cc7 mRE7YIELD<\/a><\/div>\n<\/div>\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-default\"\/>\n\n<p class=\"has-text-align-left\"><strong>mEDGE \u2013 \u7531 Edge Capital \u9032\u884c\u98a8\u96aa\u7ba1\u7406<\/strong><\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"2162\" height=\"1216\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2025\/02\/image-7.png\" alt=\"\" class=\"wp-image-51786\" style=\"width:660px\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-7.png 2162w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-7-768x432.png 768w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-7-1536x864.png 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-7-2048x1152.png 2048w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-7-1200x675.png 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-7-1320x742.png 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure>\n<\/div>\n<p>Edge Capital \u662f\u4e00\u5bb6\u9818\u5148\u7684\u6578\u5b57\u8cc7\u7522\u5c0d\u6c96\u57fa\u91d1\u548c DeFi \u6d41\u52d5\u6027\u4f9b\u61c9\u5546\uff0c\u70ba\u6a5f\u69cb\u6295\u8cc7\u8005\u548c\u52a0\u5bc6\u57fa\u91d1\u6703\u7ba1\u7406\u8cc7\u672c\u3002\u4ed6\u5011\u7684\u5e02\u5834\u4e2d\u6027\u7b56\u7565\u65e8\u5728\u7522\u751f\u4e00\u81f4\u7684\u9ad8\u98a8\u96aa\u8abf\u6574\u540e\u56de\u5831\u3002 <\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7576\u524d\u5e74\u5316\u6536\u76ca\u7387\uff1a 20.12%<\/strong><\/li>\n\n\n\n<li><strong>$230M+ \u8cc7\u7522\u7ba1\u7406\u898f\u6a21<\/strong><\/li>\n\n\n\n<li><strong>\u56db\u5e74\u7d93\u5be9\u8a08\u7684\u696d\u7e3e\u8a18\u9304\uff0c\u590f\u666e\u6bd4\u7387\u70ba 3.5<\/strong><\/li>\n<\/ul>\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button has-custom-width wp-block-button__width-75 has-custom-font-size has-medium-font-size\"><a class=\"wp-block-button__link has-white-color has-bright-blue-background-color has-text-color has-background has-link-color wp-element-button\" href=\"https:\/\/lajewo.clicks.mlsend2.com\/td\/c\/eyJ2Ijoie1wiYVwiOjEyMDI0MzYsXCJsXCI6MTQ2MjQyNDY3MjQ2NjM4NTYyLFwiclwiOjE0NjI0MjQ4MDc1NDM5NDI2N30iLCJzIjoiZDMzZDMwMTFjNjQ1OTY1OCJ9\" target=\"_blank\" rel=\"noreferrer noopener\">\u6295\u8cc7 mEDGE<\/a><\/div>\n<\/div>\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n<p class=\"has-text-align-left\"><strong>mMEV \u2013 \u7531 MEV Capital \u9032\u884c\u98a8\u96aa\u7ba1\u7406<\/strong><\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"2201\" height=\"1238\" src=\"https:\/\/fabricegrinda.com\/wp-content\/uploads\/2025\/02\/image-9.png\" alt=\"\" class=\"wp-image-51837\" style=\"width:660px\" srcset=\"https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-9.png 2201w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-9-768x432.png 768w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-9-1536x864.png 1536w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-9-2048x1152.png 2048w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-9-1200x675.png 1200w, https:\/\/grinda.org\/wp-content\/uploads\/2025\/02\/image-9-1320x742.png 1320w\" sizes=\"auto, (max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px\" \/><\/figure>\n<\/div>\n<p>MEV Capital \u662f\u4e00\u5bb6\u5c08\u9580\u5f9e\u4e8b\u98a8\u96aa\u7ba1\u7406\u3001DeFi \u539f\u751f\u6536\u76ca\u63d0\u53d6\u7b56\u7565\u7684\u6295\u8cc7\u516c\u53f8\u3002\u6191\u85c9\u5728\u6d41\u52d5\u6027\u4f9b\u61c9\u548c\u7d50\u69cb\u6027\u6536\u76ca\u7522\u54c1\u65b9\u9762\u7684\u5c08\u696d\u77e5\u8b58\uff0c\u5b83\u5728\u53bb\u4e2d\u5fc3\u5316\u5e02\u5834\u4e2d\u63d0\u4f9b\u9ad8\u6536\u76ca\u6a5f\u6703\u3002 <\/p>\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7576\u524d\u5e74\u5316\u6536\u76ca\u7387\uff1a 17.53%<\/strong><\/li>\n\n\n\n<li><strong>$350M+ \u8cc7\u7522\u7ba1\u7406\u898f\u6a21<\/strong><\/li>\n\n\n\n<li><strong>\u8de8\u591a\u500b\u93c8\u7684 10+ \u7cbe\u9078\u516c\u5171\u91d1\u5eab<\/strong><\/li>\n<\/ul>\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button has-custom-width wp-block-button__width-75 has-custom-font-size has-medium-font-size\"><a class=\"wp-block-button__link has-white-color has-bright-blue-background-color has-text-color has-background has-link-color has-text-align-center wp-element-button\" href=\"https:\/\/lajewo.clicks.mlsend2.com\/td\/c\/eyJ2Ijoie1wiYVwiOjEyMDI0MzYsXCJsXCI6MTQ2MjQyNDY3MjUwODMyODY3LFwiclwiOjE0NjI0MjQ4MDc1NDM5NDI2N30iLCJzIjoiNzg3NzhhODMwOTA2Y2NlYSJ9\" target=\"_blank\" rel=\"noreferrer noopener\">\u6295\u8cc7 mMEV<\/a><\/div>\n<\/div>\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n<p>\u60a8\u9084\u53ef\u4ee5\u5728\u6211\u5011\u7684 <a href=\"https:\/\/lajewo.clicks.mlsend2.com\/tj\/c\/eyJ2Ijoie1wiYVwiOjEyMDI0MzYsXCJsXCI6MTQ2MjQyNDY3MjYwMjcwMDUzLFwiclwiOjE0NjI0MjQ4MDc1NDM5NDI2N30iLCJzIjoiZjdiOTEzNDY3NmFjNWE1MiJ9\" data-type=\"link\" data-id=\"https:\/\/lajewo.clicks.mlsend2.com\/tj\/c\/eyJ2Ijoie1wiYVwiOjEyMDI0MzYsXCJsXCI6MTQ2MjQyNDY3MjYwMjcwMDUzLFwiclwiOjE0NjI0MjQ4MDc1NDM5NDI2N30iLCJzIjoiZjdiOTEzNDY3NmFjNWE1MiJ9\" target=\"_blank\" rel=\"noreferrer noopener\">Twitter \u5e16\u5b50<\/a> \u548c <a href=\"https:\/\/lajewo.clicks.mlsend2.com\/tj\/c\/eyJ2Ijoie1wiYVwiOjEyMDI0MzYsXCJsXCI6MTQ2MjQyNDY3MjY1NTEyOTM2LFwiclwiOjE0NjI0MjQ4MDc1NDM5NDI2N30iLCJzIjoiMTkxNTE3MGYxZGJiYmFiMiJ9\" data-type=\"link\" data-id=\"https:\/\/lajewo.clicks.mlsend2.com\/tj\/c\/eyJ2Ijoie1wiYVwiOjEyMDI0MzYsXCJsXCI6MTQ2MjQyNDY3MjY1NTEyOTM2LFwiclwiOjE0NjI0MjQ4MDc1NDM5NDI2N30iLCJzIjoiMTkxNTE3MGYxZGJiYmFiMiJ9\" target=\"_blank\" rel=\"noreferrer noopener\">LinkedIn \u5e16\u5b50<\/a>\u4e2d\u627e\u5230\u6709\u95dc\u6d41\u52d5\u6027\u6536\u76ca\u4ee3\u5e63 \uff08LYT\uff09 \u5982\u4f55\u904b\u4f5c\u7684\u7c21\u8981\u6982\u8ff0\u3002<\/p>\n\n<p>\u6709\u95dc\u5a92\u9ad4\u5831\u5c0e\uff0c\u8acb\u67e5\u770b <a href=\"https:\/\/lajewo.clicks.mlsend2.com\/tj\/c\/eyJ2Ijoie1wiYVwiOjEyMDI0MzYsXCJsXCI6MTQ2MjQyNDY3MjY5NzA3MjQxLFwiclwiOjE0NjI0MjQ4MDc1NDM5NDI2N30iLCJzIjoiNzFkYjU0NmEyMDQzNTc1ZCJ9\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/lajewo.clicks.mlsend2.com\/tj\/c\/eyJ2Ijoie1wiYVwiOjEyMDI0MzYsXCJsXCI6MTQ2MjQyNDY3MjY5NzA3MjQxLFwiclwiOjE0NjI0MjQ4MDc1NDM5NDI2N30iLCJzIjoiNzFkYjU0NmEyMDQzNTc1ZCJ9\" rel=\"noreferrer noopener\">The Block<\/a> \u548c <a href=\"https:\/\/lajewo.clicks.mlsend2.com\/tj\/c\/eyJ2Ijoie1wiYVwiOjEyMDI0MzYsXCJsXCI6MTQ2MjQyNDY3MjczOTAxNTQ2LFwiclwiOjE0NjI0MjQ4MDc1NDM5NDI2N30iLCJzIjoiZGQ4ZTI3NGM2YzljMTE5OSJ9\" target=\"_blank\" data-type=\"link\" data-id=\"https:\/\/lajewo.clicks.mlsend2.com\/tj\/c\/eyJ2Ijoie1wiYVwiOjEyMDI0MzYsXCJsXCI6MTQ2MjQyNDY3MjczOTAxNTQ2LFwiclwiOjE0NjI0MjQ4MDc1NDM5NDI2N30iLCJzIjoiZGQ4ZTI3NGM2YzljMTE5OSJ9\" rel=\"noreferrer noopener\">Coindesk<\/a>\u4e0a\u7684\u65b0\u805e\u7a3f\u3002<\/p>\n\n<p>\u6211\u5011\u6b61\u8fce\u60a8\u63d0\u51fa\u4efb\u4f55\u554f\u984c\u6216\u53cd\u994b\u3002<\/p>\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u7a69\u5b9a\u5e63\u88ab\u8b7d\u70ba\u52a0\u5bc6\u751f\u614b\u7cfb\u7d71\u7684\u57fa\u77f3\uff0c\u5728\u52d5\u8569\u7684\u5e02\u5834\u4e2d\u63d0\u4f9b\u7a69\u5b9a\u6027\uff0c\u4e26 &hellip; <a href=\"https:\/\/grinda.org\/zh-hant\/midas-liquid-yield-tokens-%ef%bc%88lyt%ef%bc%89%ef%bc%9a%e4%bb%a3%e5%b9%a3%e5%8c%96%e6%94%b6%e7%9b%8a%e7%ad%96%e7%95%a5%e7%9a%84%e6%96%b0%e6%99%82%e4%bb%a3\/\" class=\"more-link\">\u95b1\u8b80\u5168\u6587<span class=\"screen-reader-text\">\u3008Midas Liquid Yield Tokens \uff08LYT\uff09\uff1a\u4ee3\u5e63\u5316\u6536\u76ca\u7b56\u7565\u7684\u65b0\u6642\u4ee3\u3009<\/span><\/a><\/p>\n","protected":false},"author":9,"featured_media":51608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[781],"tags":[],"class_list":["post-52553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category--web3"],"acf":[],"contentUpdated":"Midas Liquid Yield Tokens \uff08LYT\uff09\uff1a\u4ee3\u5e63\u5316\u6536\u76ca\u7b56\u7565\u7684\u65b0\u6642\u4ee3. Categories - \u52a0\u5bc6\/Web3. Date-Posted - 2025-02-19T15:22:15 . \n \u7a69\u5b9a\u5e63\u88ab\u8b7d\u70ba\u52a0\u5bc6\u751f\u614b\u7cfb\u7d71\u7684\u57fa\u77f3\uff0c\u5728\u52d5\u8569\u7684\u5e02\u5834\u4e2d\u63d0\u4f9b\u7a69\u5b9a\u6027\uff0c\u4e26\u6709\u671b\u5fb9\u5e95\u6539\u8b8a\u652f\u4ed8\u8ecc\u9053\u3002\u7136\u800c\uff0c\u5728\u8868\u9762\u4e4b\u4e0b\uff0c\u7a69\u5b9a\u5e63\u4f9b\u61c9\u5f9e\u6839\u672c\u4e0a\u662f\u7531\u93c8\u4e0a\u6536\u76ca\u7387\u9a45\u52d5\u7684\u3002 \n \u5728\u904e\u53bb\u7684\u5169\u500b\u5e02\u5834\u9031\u671f\u4e2d\uff0c\u7a69\u5b9a\u5e63\u4f9b\u61c9\u91cf\u8207\u6536\u76ca\u7387\u76f4\u63a5\u53cd\u61c9\u800c\u64f4\u5927\u548c\u6536\u7e2e\u3002\u7576\u93c8\u4e0a\u6536\u76ca\u7387\u8d85\u904e\u7f8e\u570b\u570b\u5eab\u5238 \uff08T-Bills\uff09 \u6642\uff0c\u5c0d\u7a69\u5b9a\u5e63\u7684\u9700\u6c42\u98c6\u5347\u2014\u2014\u5c24\u5176\u662f\u5728 DeFi Summer \u4e4b\u5f8c\uff0c\u7576\u6642\u7e3d\u4f9b\u61c9\u91cf\u5728\u77ed\u77ed\u5169\u5e74\u5167\u5f9e\u4e0d\u5230 100 \u5104\u7f8e\u5143 \u98c6\u5347\u81f3\u8d85\u904e 1500 \u5104\u7f8e\u5143 \u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0c\u7576\u93c8\u4e0a\u6536\u76ca\u7387\u4f4e\u65bc\u7f8e\u5143\u7121\u98a8\u96aa\u5229\u7387\u6642\uff0c\u7a69\u5b9a\u5e63\u4f9b\u61c9\u7684\u6536\u7e2e\u901f\u5ea6\u8207 22 \u5e74\u7b2c\u4e00\u5b63\u5ea6\u81f3 23 \u5e74\u7b2c\u4e09\u5b63\u5ea6\u7684\u4e0b\u964d\u4e00\u6a23\u5feb\u3002\u6700\u8fd1\u7684\u589e\u9577\u662f\u7531 contango \u52a0\u5bc6\u5e02\u5834\u5c0e\u81f4\u7684\u9ad8\u93c8\u4e0a\u6536\u76ca\u7387\u4f86\u89e3\u91cb\u7684\u3002   \n \u8cc7\u6599\u4f86\u6e90\uff1aDeFiLlama\n \u554f\u984c\uff1a\u7a69\u5b9a\u5e63\u4e0d\u7a69\u5b9a\u5728\u5c0b\u6c42\u6536\u76ca\u7684\u904e\u7a0b\u4e2d\uff0c\u7a69\u5b9a\u5e63\u5df2\u7d93\u6f14\u8b8a\u6210 \u93c8\u4e0a\u5c0d\u6c96\u57fa\u91d1\u7b56\u7565 \uff08\u201c\u7522\u751f\u6536\u76ca\u7684\u201d\u7a69\u5b9a\u5e63\u201c\uff09\uff0c\u6b63\u5982 Ethena \u548c\u5176\u4ed6\u516c\u53f8\u7684\u589e\u9577\u6240\u8868\u660e\u7684\u90a3\u6a23\u3002\u5728\u9019\u7a2e\u7d50\u69cb\u4e2d\uff0c\u6536\u76ca\u901a\u904e\u5169\u500b\u4ee3\u5e63\u5206\u914d\u2014\u2014\u4e00\u500b\u50b3\u7d71\u7684\u7a69\u5b9a\u5e63\uff0c\u5b83\u53ef\u4ee5\u88ab\u8cea\u62bc\u5230\u7b2c\u4e8c\u500b\u4ee3\u5e63\u4e2d\uff0c\u4ee5\u8cfa\u53d6\u6a19\u7684\u62b5\u62bc\u54c1\u7684\u6536\u5165\u3002\u4e4b\u6240\u4ee5\u51fa\u73fe\u9019\u7a2e\u7d50\u69cb\uff0c\u662f\u56e0\u70ba\u767c\u884c\u300c\u7a69\u5b9a\u300d\u5e63\u907f\u514d\u4e86\u88ab\u6b78\u985e\u70ba\u8b49\u5238\u6216\u96c6\u9ad4\u6295\u8cc7\u8a08\u5283\uff0c\u800c\u9019\u9700\u8981\u76e3\u7ba1\u90e8\u9580\u7684\u6279\u51c6\u3002  \n \u901a\u904e\u5c07\u9019\u4e9b\u7522\u54c1\u5b9a\u7fa9\u70ba\u300c\u51c6\u7a69\u5b9a\u5e63\u300d\uff0c\u767c\u884c\u4eba\u53ef\u4ee5\u5229\u7528\u76e3\u7ba1\u6f0f\u6d1e\u2014\u2014\u4f46\u9019\u662f\u4ee5\u5f15\u5165\u7cfb\u7d71\u6027\u98a8\u96aa\u70ba\u4ee3\u50f9\u7684\uff0c\u5305\u62ec\uff1a\n \u812b\u9264\u4e8b\u4ef6 &#8211; \u5982\u679c\u6295\u8cc7\u7d44\u5408\u8868\u73fe\u4e0d\u4f73\uff0c\u6d41\u52d5\u6027\u5c31\u6703\u8feb\u4f7f\u767c\u884c\u4eba\u9032\u884c\u6e1b\u50f9\u92b7\u552e\uff0c\u5f9e\u800c\u7834\u58de\u6574\u500b\u751f\u614b\u7cfb\u7d71\u7684\u7a69\u5b9a\u3002\n \u932f\u4f4d\u7684\u6fc0\u52f5\u63aa\u65bd &#8211; \u767c\u884c\u4eba\u8ffd\u6c42\u66f4\u9ad8\u7684\u6536\u76ca\u7387\u4ee5\u5438\u5f15TVL\uff0c\u901a\u5e38\u6703\u5c07\u6295\u8cc7\u7d44\u5408\u63a8\u5411\u98a8\u96aa\u8f03\u9ad8\u7684\u8cc7\u7522\u3002\n \u76e3\u7ba1\u4e0d\u78ba\u5b9a\u6027 &#8211; \u5c07\u5c0d\u6c96\u57fa\u91d1\u7b56\u7565\u5305\u88dd\u6210\u300c\u51c6\u7a69\u5b9a\u5e63\u300d\u6703\u7522\u751f\u5408\u898f\u98a8\u96aa\uff0c\u4f7f\u6295\u8cc7\u8005\u7121\u6cd5\u5c0d\u6a19\u7684\u8cc7\u7522\u63d0\u51fa\u6cd5\u5f8b\u5b9a\u7fa9\u7684\u7d22\u8ce0\u3002\n \u6b63\u5982 Steakhouse Financial \u5728\u5176\u7a69\u5b9a\u5e63\u624b\u518a\u4e2d\u6307\u51fa\u7684\u90a3\u6a23\uff1a\n \u201c\u7a69\u5b9a\u5e63\u53d7\u5230\u6d41\u52d5\u6027\u548c\u511f\u4ed8\u80fd\u529b\u7684\u9650\u5236\u3002\u8981\u767c\u63ee\u4f5c\u7528\uff0c\u7a69\u5b9a\u5e63\u5fc5\u9808\u6eff\u8db3\u9019\u5169\u500b\u786c\u6027\u9650\u5236\u3002\n \u7136\u800c\uff0c\u7522\u751f\u6536\u76ca\u7684\u7a69\u5b9a\u5e63\u672c\u8eab\u5c31\u5f37\u8abf\u9019\u4e9b\u9650\u5236\u3002\u5438\u5f15TVL\u7684\u7af6\u722d\u6703\u5c0e\u81f4\u5169\u500b\u7cfb\u7d71\u6027\u5f8c\u679c\uff1a \n \u64e0\u5165\u76f8\u540c\u7684\u6536\u76ca\u6a5f\u6703\uff0c\u6e1b\u5c11\u56de\u5831\n \u7cfb\u7d71\u6027\u8106\u5f31\u6027\u589e\u52a0\uff0c\u812b\u9264\u98a8\u96aa\u52a0\u5287\n \u5f8c\u679c\uff1a\u8f03\u4f4e\u7684\u56de\u5831\u548c\u589e\u52a0\u7684\u7cfb\u7d71\u6027\u98a8\u96aa\n \u901a\u904e\u8a2d\u7f6e 1 \u7f8e\u5143\u7684\u8ca0\u50b5\uff0c\u5f9e\u6280\u8853\u4e0a\u8b1b\uff0c\u53ef \u6295\u8cc7 \u7684\u6536\u76ca\u7a69\u5b9a\u5e63\u50c5\u9650\u65bc \u96f6\u671f\u9650 \u62b5\u62bc\u54c1\u3002\u9019\u6703\u5c07\u6240\u6709\u767c\u884c\u4eba\u7684\u8cc7\u7522\u5f59\u96c6\u5230\u76f8\u540c\u7684\u4ea4\u6613\u4e2d\uff0c\u5f9e\u800c\u5c0e\u81f4\u56de\u5831\u905e\u6e1b\u3002\u5f9e\u6b77\u53f2\u4e0a\u770b\uff0c\u64c1\u64e0\u7684\u4ea4\u6613\uff0c\u4f8b\u5982\u5927\u5b97\u5546\u54c1\u5e02\u5834\u7684\u57fa\u5dee\u4ea4\u6613\uff0c\u4e00\u76f4\u8868\u73fe\u4e0d\u4f73\u3002\u5b78\u8853\u754c\u5df2\u5c0d\u5e02\u5834\u64c1\u64e0\u7684\u5f71\u97ff\u9032\u884c\u4e86\u5ee3\u6cdb\u7814\u7a76\uff0c\u5c0e\u81f4\u8f03\u4f4e\u7684\u56de\u5831\u548c\u66f4\u9ad8\u7684\u98a8\u96aa\u3002\u4f8b\u5982\uff0c\u5927\u5b97\u5546\u54c1\u5e02\u5834\u7684\u57fa\u5dee\u4ea4\u6613\u5c0e\u81f4 24 \u5e74\u671f\u9593\u7684\u56de\u5831\u7387\u4e00\u76f4\u8f03\u4f4e\u3002    \n \u4f86\u6e90\uff1aWenjin Kang\u3001K. Geert Rouwenhorst \u548c Ke Tang \u7684\u300a\u64c1\u64e0\u548c\u56e0\u5b50\u56de\u5831\u300b\n \u5c0d\u6536\u76ca\u7387\u7684\u4e0d\u61c8\u8ffd\u6c42\u5c07\u7a69\u5b9a\u5e63\u767c\u884c\u5546\u63a8\u5411\u4e86\u98a8\u96aa\u66f2\u7dda\u7684\u9032\u4e00\u6b65\u4e0a\u5347\u3002\u5728\u6b64\u904e\u7a0b\u4e2d\uff0c\u5b83\u5011\u5f15\u5165\u4e86\u7cfb\u7d71\u6027\u7684\u8106\u5f31\u6027\uff0c\u5373\u62b5\u62bc\u54c1\u6c60\u4e2d\u7684\u55ae\u500b\u8584\u5f31\u74b0\u7bc0\u5c31\u53ef\u80fd\u5c0e\u81f4\u7d1a\u806f\u6545\u969c\u3002 \n \u6b64\u5916\uff0c\u7a69\u5b9a\u5e63\u767c\u884c\u5546\u4f9d\u9760\u69d3\u687f\u548c\u518d\u62b5\u62bc\u4f86\u63a8\u52d5\u63a1\u7528\u3002\u9019\u5275\u9020\u4e86\u4e00\u500b\u7cfb\u7d71\uff0c\u5176\u4e2d\u9644\u5c6c\u7d50\u69cb\u7684\u4e00\u90e8\u5206\u4e2d\u7684\u61c9\u529b\u53ef\u4ee5\u89f8\u767c\u7d1a\u806f\u5931\u6548\u3002 2022 \u5e74\u7684 stETH \u6298\u50f9\u3001 UST \u7684\u5d29\u76e4\u4ee5\u53ca \u6700\u8fd1 USD0++ \u548c USDz \u7684\u812b\u9264 \u90fd\u53cd\u6620\u4e86\u9019\u7a2e\u8106\u5f31\u6027\u3002  \n \u89e3\u6c7a\u65b9\u6848\uff1aLiquid Yield Tokens \uff08LYT\uff09\n \u5728 Midas\uff0c\u6211\u5011\u5efa\u7acb\u4e86\u4e00\u7a2e\u5168\u65b0\u7684\u4ee3\u5e63\u5316\u6536\u76ca\u65b9\u6cd5\u2014\u2014Liquid Yield Tokens \uff08LYT\uff09\u3002\n LYT \u6c92\u6709\u5c07\u6536\u76ca\u5f37\u52a0\u7d66\u8106\u5f31\u7684\u7a69\u5b9a\u5e63\u5305\u88dd\u5668\uff0c\u800c\u662f\u5f15\u5165\u4e86\u4e00\u500b\u5c08\u9580\u7684\u93c8\u4e0a\u6295\u8cc7\u7b56\u7565\u6846\u67b6\uff1a\n \u6d6e\u52d5\u53c3\u8003\u503c &#8211; \u8207\u7a69\u5b9a\u5e63\u4e0d\u540c\uff0cLYT \u6c92\u6709\u56fa\u5b9a\u7684 1 \u7f8e\u5143\u6302\u9264\u3002\u5b83\u5011\u7684\u50f9\u503c\u6839\u64da\u6027\u80fd\u800c\u6ce2\u52d5\uff0c\u5f9e\u800c\u6d88\u9664\u4e86\u812b\u9264\u98a8\u96aa\u3002 \n \u64f4\u5927\u6295\u8cc7\u7bc4\u570d &#8211; \u53d6\u6d88 1 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