{"id":754,"date":"2025-03-10T22:17:19","date_gmt":"2025-03-10T14:17:19","guid":{"rendered":"https:\/\/www.db-hk.com\/?p=754"},"modified":"2025-03-10T22:17:19","modified_gmt":"2025-03-10T14:17:19","slug":"2024%e5%b9%b4%e7%a8%b3%e5%ae%9a%e5%b8%81%e5%b8%82%e5%9c%ba%e6%96%b0%e5%ae%a0%ef%bc%9aethena%e3%80%81lista%e4%b8%8ebenfen","status":"publish","type":"post","link":"http:\/\/www.fubairui.net\/?p=754","title":{"rendered":"2024\u5e74\u7a33\u5b9a\u5e01\u5e02\u573a\u65b0\u5ba0\uff1aEthena\u3001Lista\u4e0eBenFen"},"content":{"rendered":"

2024 \u5e74\uff0c\u968f\u7740\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6574\u4f53\u8d70\u52bf\u9887\u597d\uff0c\u7a33\u5b9a\u5e01\u9886\u57df\u4e5f\u8fce\u6765\u4e86\u65b0\u4e00\u8f6e\u7684\u521b\u65b0\u6d6a\u6f6e\u3002\u5728\u7ade\u4e89\u5982\u706b\u5982\u837c\u7684\u7a33\u5b9a\u5e01\u8d5b\u9053\u4e0a\uff0cEthena\u3001Lista \u548c BenFen \u4e09\u4e2a\u65b0\u79c0\u6b63\u5189\u5189\u5347\u8d77\uff0c\u5b83\u4eec\u5404\u81ea\u63a8\u51fa\u4e86\u65b0\u9896\u7684\u89e3\u51b3\u65b9\u6848\uff0c\u65e8\u5728\u89e3\u51b3\u5f53\u524d\u7a33\u5b9a\u5e01\u5e02\u573a\u9762\u4e34\u7684\u6311\u6218\uff0c\u5982\u4ef7\u683c\u6ce2\u52a8\u3001\u8d44\u672c\u6548\u7387\u548c\u4e2d\u5fc3\u5316\u7b49\u95ee\u9898\u3002<\/strong><\/p>\n

\u672c\u6587\u5c06\u6df1\u5165\u5206\u6790\u8fd9\u4e09\u4e2a\u9879\u76ee\u7684\u6838\u5fc3\u7b56\u7565\u3001\u4f30\u503c\u6a21\u578b\u548c\u4ee3\u5e01\u5206\u914d\u673a\u5236\uff0c\u7279\u522b\u5173\u6ce8\u5c1a\u672a\u6b63\u5f0f\u4e0a\u7ebf\u4f46\u5c55\u73b0\u51fa\u5de8\u5927\u6f5c\u529b\u7684 BenFen\u3002\u901a\u8fc7\u6bd4\u8f83\u5b83\u4eec\u7684\u4f18\u52bf\u548c\u521b\u65b0\u70b9\uff0c\u5e0c\u671b\u4e3a\u8bfb\u8005\u63d0\u4f9b\u76f8\u5bf9\u5168\u9762\u7684\u89c6\u89d2\uff0c\u4e00\u7aa5\u7a33\u5b9a\u5e01\u5e02\u573a\u7684\u6700\u65b0\u53d1\u5c55\u8d8b\u52bf\u548c\u6f5c\u5728\u673a\u4f1a\u3002<\/p>\n

\u4ee5\u4e0b\u662f\u8fd9\u4e09\u4e2a\u9879\u76ee\u7684\u6838\u5fc3\u53d9\u4e8b\u6982\u89c8\uff1a<\/strong><\/p>\n

Ethena<\/strong><\/p>\n

Ethena \u65e8\u5728\u4e13\u6ce8\u63d0\u4f9b\u4e00\u79cd\u7a33\u5b9a\u4e14\u53ef\u6269\u5c55\u7684\u5408\u6210\u7f8e\u5143 USDe\uff0cUSDe \u53ef\u4ee5\u4ee5 1:1 \u7684\u62b5\u62bc\u6bd4\u7387\u94f8\u9020\uff0c\u4f7f Ethena\uff08ENA\uff09\u7684\u8d44\u672c\u6548\u7387\u4e0e\u7f8e\u5143\u8d44\u4ea7\u652f\u6301\u7684\u7a33\u5b9a\u5e01\uff08\u5982 USDC \u548c USDT\uff09\u76f8\u5f53\uff0c\u8fd9\u4e5f\u63d0\u4f9b\u4e86\u4e00\u79cd\u4e0d\u4f9d\u8d56\u4f20\u7edf\u94f6\u884c\u7cfb\u7edf\u57fa\u7840\u8bbe\u65bd\u7684\u52a0\u5bc6\u539f\u751f\u8d27\u5e01\u89e3\u51b3\u65b9\u6848\u3002ENA \u662f Ethena \u7684\u539f\u751f\u4ee3\u5e01\u3002<\/p>\n

\u6838\u5fc3\u7b56\u7565\u2014\u2014\u671f\u73b0\u5957\u5229 \/ \u5bf9\u51b2\u7a33\u5b9a\uff1a<\/strong><\/p>\n

\u672c\u8d28\u7c7b\u4f3c\u4e8e\u4e00\u4e2a\u5f00\u653e\u5f0f\u7684\u5bf9\u51b2\u57fa\u91d1\uff0c\u4f7f\u7528\u6d41\u52a8\u6027\u8d28\u62bc\uff0c\u5c06 ETH \u4ee3\u5e01\u4f5c\u4e3a\u62b5\u62bc\u54c1\uff0c\u505a\u7a7a\u7b49\u91cf\u7684 ETH \u4ee3\u5e01\uff0c\u4ee5\u521b\u5efa\u4e00\u4e2a Delta \u4e3a 0 \u7684\u6295\u8d44\u7ec4\u5408\uff0c\u8fd9\u79cd\u914d\u7f6e\u786e\u4fdd\u4e86 Ethena \u6240\u6301\u8d44\u4ea7\u7684\u51c0\u503c\u4e0d\u968f\u5176\u8d44\u4ea7\u57fa\u7840\u4ef7\u503c\u7684\u53d8\u5316\u800c\u6ce2\u52a8\uff0c\u540c\u65f6\u53ef\u4ee5\u4ece ETH \u8d28\u62bc\u548c\u5176\u7a7a\u5934\u5934\u5bf8\u7684\u878d\u8d44\u652f\u4ed8\u4e2d\u83b7\u53d6\u6536\u76ca\u3002\u8fd9\u79cd\u673a\u5236\u4e0d\u4ec5\u786e\u4fdd\u4e86 USDe \u7684\u7a33\u5b9a\u6027\uff0c\u5e76\u901a\u8fc7\u5229\u7528\u884d\u751f\u54c1\u5e02\u573a\u5b9e\u73b0\u8d44\u672c\u6548\u7387\u7684\u6700\u5927\u5316\uff0c\u540c\u65f6\u6709\u671b\u5e2e\u52a9\u52a0\u5bc6\u91d1\u878d\u4ece\u4f20\u7edf\u91d1\u878d\u4e16\u754c\u593a\u5f97\u81ea\u5df1\u7684\u300c\u8d27\u5e01\u300d\u6743\u3002<\/p>\n

Lista<\/strong><\/p>\n

Lista DAO \u662f\u7531 LSDfi \u9a71\u52a8\u7684\u5f00\u6e90\u53bb\u4e2d\u5fc3\u5316\u7a33\u5b9a\u5e01\u501f\u8d37\u534f\u8bae\u3002Lista \u662f Lista DAO \u7684\u539f\u751f\u4ee3\u5e01\u3002\u7528\u6237\u53ef\u4ee5\u5728 Lista \u4e0a\u8fdb\u884c\u8d28\u62bc\u548c\u6d41\u52a8\u6027\u8d28\u62bc\uff0c\u4ee5\u53ca\u9488\u5bf9\u5404\u79cd\u53bb\u4e2d\u5fc3\u5316\u62b5\u62bc\u54c1\u501f\u51fa lisUSD\u3002Lista \u5b58\u5728\u4e8e BNB \u94fe\u548c\u4ee5\u592a\u574a\u4e0a\uff0c\u65e8\u5728\u5c06 lisUSD \u5b9a\u4f4d\u4e3a\u52a0\u5bc6\u7a7a\u95f4\u4e2d\u7684\u9996\u9009\u7a33\u5b9a\u5e01\uff0c\u5229\u7528\u521b\u65b0\u7684\u6d41\u52a8\u6027\u8d28\u62bc\u89e3\u51b3\u65b9\u6848\u3002\u5176\u5141\u8bb8\u7528\u6237\u8fdb\u884c\u8d28\u62bc\u548c\u6d41\u52a8\u6027\u8d28\u62bc\uff0c\u540c\u65f6\u63d0\u4f9b\u4f7f\u7528\u53bb\u4e2d\u5fc3\u5316\u62b5\u62bc\u54c1\u501f\u5165 lisUSD \u7684\u529f\u80fd\u3002<\/p>\n

\u6838\u5fc3\u7b56\u7565\u2014\u2014\u878d\u5408\u6548\u7387 \/ \u7075\u6d3b\u6d41\u52a8\uff1a<\/strong><\/p>\n

Lista \u7684\u521b\u65b0\u5728\u4e8e\u63d0\u4f9b\u4e00\u79cd\u65b0\u7684\u89e3\u51b3\u65b9\u6848\uff0c\u4ee5\u5e94\u5bf9\u8fc7\u5ea6\u62b5\u62bc\u7a33\u5b9a\u5e01\u6240\u9762\u4e34\u7684\u8d44\u672c\u6548\u7387\u95ee\u9898\u3002\u5b83\u5141\u8bb8\u7528\u6237\u901a\u8fc7\u62b5\u62bc\u503a\u52a1\u4f4d\u7f6e\uff08CDP\uff09\u6765\u589e\u52a0\u4ed6\u4eec\u7684\u8d44\u91d1\u5229\u7528\u7387\u3002\u901a\u8fc7\u7ed3\u5408\u6d41\u52a8\u6027\u8d28\u62bc\u3001MakerDAO \u6a21\u578b\u7684\u529f\u80fd\u4ee5\u53ca DEX \u4e0a LP \u7684\u989d\u5916\u6d41\u52a8\u6027\uff0c\u5c3d\u53ef\u80fd\u907f\u514d\u56e0\u4ef7\u683c\u4e0d\u7a33\u5b9a\u5bfc\u81f4\u7684\u8d44\u91d1\u51bb\u7ed3\uff08\u6cd5\u5e01\u652f\u6301\uff09\u6216\u4ef7\u503c\u635f\u5931\uff08\u7b97\u6cd5\uff09\u7684\u95ee\u9898\u3002<\/p>\n

BenFen<\/strong><\/p>\n

BenFen \u662f\u65b0\u4e00\u4ee3\u5168\u5c40\u62b5\u62bc\u7a33\u5b9a\u5e01\u5e73\u53f0\u3002\u4ee5\u5168\u5c40\u62b5\u62bc\u7684\u65b9\u5f0f\u94f8\u9020\u591a\u5e01\u79cd\u7a33\u5b9a\u5e01\uff0c\u5e76\u8d4b\u4e88\u7a33\u5b9a\u5e01\u300c\u7b2c\u4e00\u516c\u6c11\u300d\u7684\u8eab\u4efd\u3002\u57fa\u4e8e Move \u8bed\u8a00\u6784\u5efa\u5b89\u5168\u3001\u7a33\u5b9a\u3001\u9ad8\u6027\u80fd\u3001\u9ad8\u53ef\u7528\u6027\u7684\u5e95\u5c42\u533a\u5757\u94fe\uff0c\u5185\u7f6e\u53bb\u4e2d\u5fc3\u5316\u3001\u951a\u5b9a\u591a\u5e01\u79cd\u7684\u5168\u5c40\u62b5\u62bc\u7a33\u5b9a\u5e01\uff0c\u5e76\u539f\u751f\u652f\u6301\u7a33\u5b9a\u5e01\u5728\u8d28\u62bc\uff08Staking\uff09\u53ca\u652f\u4ed8 Gas \u7b49\u65b9\u9762\u7684\u5e94\u7528\u3002 \u5176\u5168\u5c40\u62b5\u62bc\u7a33\u5b9a\u5e01\u53d9\u4e8b\uff0c\u5f00\u521b\u4e86\u4e00\u79cd\u5168\u65b0\u53d9\u4e8b\uff0c\u901a\u8fc7\u72ec\u7279\u7684\u4ee3\u5e01\u7ecf\u6d4e\u6a21\u578b\u548c\u9996\u4e2a\u652f\u6301 SFT\uff08\u56fe\u5e01\u5408\u4e00\uff09\u7684\u6316\u77ff\u673a\u5236\uff0c\u4e3a\u7528\u6237\u63d0\u4f9b\u7a33\u5b9a\u7075\u6d3b\u7684\u7efc\u5408\u6027\u3001\u5168\u9762\u578b\u91d1\u878d\u65b9\u6848\u3002<\/p>\n

\u6838\u5fc3\u7b56\u7565\u2014\u2014\u5168\u5c40\u62b5\u62bc \/Move \u8bed\u8a00\u516c\u94fe<\/strong><\/p>\n

BenFen \u7684\u7a33\u5b9a\u5e01\u901a\u8fc7\u5168\u5c40\u62b5\u62bc 50% \u4ee5\u4e0a\u7684 BFC\uff08BenFen \u7684\u9879\u76ee\u539f\u751f\u4ee3\u5e01\uff09\uff0c\u4fdd\u8bc1\u5404\u7a33\u5b9a\u5e01\u4e0e BFC \u4e4b\u95f4\u7684\u5151\u6362\u4ef7\u503c\u3002\u53e6\u5916\u5229\u7528\u94fe\u4e0a\u81ea\u52a8\u8d28\u62bc\u505a\u5e02\u673a\u5236\uff0c\u51cf\u5c11\u5bf9\u4e2d\u5fc3\u5316\u4ef7\u683c\u548c\u6d41\u52a8\u6027\u7684\u4f9d\u8d56\u3002\u540c\u65f6\u652f\u6301\u591a\u79cd\u5168\u7403\u4e3b\u8981\u8d27\u5e01\u7684\u7a33\u5b9a\u5e01\u94f8\u9020\uff0c\u5982\u7f8e\u5143\uff08BUSD\uff09\u3001\u65e5\u5143\uff08BJPY\uff09\u7b49\u3002<\/p>\n

\u8fd9\u79cd\u901a\u8fc7\u5185\u7f6e\u53bb\u4e2d\u5fc3\u5316\u7684\u5168\u5c40\u62b5\u62bc\u7a33\u5b9a\u5e01\uff0c\u9ad8\u5ea6\u900f\u660e\uff0c\u53ef\u4ee5\u6446\u8131\u5bf9\u5355\u4e00\u4e2d\u5fc3\u5316\u4e3b\u4f53\u7684\u4f9d\u8d56\uff0c\u6e1b\u5c11\u5355\u70b9\u6545\u969c\u7684\u98ce\u9669\uff0c\u540c\u65f6\u901a\u8fc7\u5f39\u6027\u7684\u8d27\u5e01\u4f9b\u5e94\u5e76\u521b\u65b0\u6027\u7684\u5f15\u5165\u4e86\u52a8\u6001\u6d41\u52a8\u6027\u7ba1\u7406\u548c\u4ef7\u683c\u5f15\u5bfc\u673a\u5236\u4e24\u4e2a\u6a21\u5757\u6765\u4fdd\u969c\u5176\u4ef7\u683c\u7a33\u5b9a\u3002<\/p>\n

\u9879\u76ee\u4f30\u503c\u4e0e\u4ee3\u5e01\u5206\u914d\u6a21\u578b\u8be6\u89e3<\/strong><\/p>\n

\u4e3a\u4e86\u66f4\u597d\u5730\u7406\u89e3\u8fd9\u4e09\u4e2a\u9879\u76ee\u7684\u4ef7\u503c\uff0c\u6211\u4eec\u4ece\u4f30\u503c\u548c\u4ee3\u5e01\u5206\u914d\u6a21\u578b\u4e24\u4e2a\u7ef4\u5ea6\u8fdb\u884c\u8be6\u7ec6\u5bf9\u6bd4\u3002<\/p>\n

\u4f30\u503c\u5bf9\u6bd4<\/strong><\/p>\n

\"2024\u5e74\u7a33\u5b9a\u5e01\u5e02\u573a\u65b0\u5ba0\uff1aEthena\u3001Lista\u4e0eBenFen\"\"2024\u5e74\u7a33\u5b9a\u5e01\u5e02\u573a\u65b0\u5ba0\uff1aEthena\u3001Lista\u4e0eBenFen\"<\/figure>\n

\u4ee3\u5e01\u5206\u914d\u6a21\u578b\u5bf9\u6bd4<\/strong><\/p>\n

\u4e3a\u4e86\u76f4\u89c2\u5c55\u793a\u4e09\u4e2a\u9879\u76ee\u7684\u4ee3\u5e01\u5206\u914d\u60c5\u51b5\uff0c\u5c06\u5b83\u4eec\u7ed8\u5236\u6210\u56fe\u8868\uff1a<\/p>\n

\"2024\u5e74\u7a33\u5b9a\u5e01\u5e02\u573a\u65b0\u5ba0\uff1aEthena\u3001Lista\u4e0eBenFen\"\"2024\u5e74\u7a33\u5b9a\u5e01\u5e02\u573a\u65b0\u5ba0\uff1aEthena\u3001Lista\u4e0eBenFen\"<\/figure>\n

\u5bf9\u6bd4\u5206\u6790\u6765\u770b\uff1a<\/p>\n

1. \u7528\u6237\u53cb\u597d\u5bfc\u5411\uff1aBenFen \u56e2\u961f (5%) < Ethena \u56e2\u961f (15%) < Lista \u56e2\u961f (22.5%)\u3002<\/strong>BenFen \u56e2\u961f\u4ec5\u5c06 5% \u7684\u4ee3\u5e01\u5206\u914d\u7ed9\u57fa\u91d1\u4f1a\uff0c\u663e\u793a\u51fa\u6781\u5f3a\u7684\u793e\u533a\u548c\u751f\u6001\u5bfc\u5411\uff0cBFC \u4e3a\u300c\u793e\u533a\u9a71\u52a8 + \u7528\u6237\u53cb\u597d\u300d\u578b\u5e01\u79cd\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0cEthena \u56e2\u961f\u548c Lista \u56e2\u961f\u8f83\u9ad8\u7684\u57fa\u91d1\u4f1a\u5360\u6bd4\u867d\u7136\u6709\u5229\u4e8e\u5438\u5f15\u8d44\u672c\u548c\u5408\u4f5c\u4f19\u4f34\uff0c\u4f46\u53ef\u80fd\u88ab\u89c6\u4e3a\u66f4\u503e\u5411\u4e8e VC \u5229\u76ca\u3002BenFen \u7684\u4f4e\u56e2\u961f\u548c\u57fa\u91d1\u4f1a\u5360\u6bd4\uff0c\u4ee5\u53ca\u9ad8\u793e\u533a\u53c2\u4e0e\u5ea6\uff0c\u5219\u4e3a\u7528\u6237\u63d0\u4f9b\u4e86\u66f4\u516c\u5e73\u7684\u53c2\u4e0e\u673a\u4f1a\u548c\u9884\u671f\u8f83\u9ad8\u7684\u6f5c\u5728\u6536\u76ca\u3002<\/p>\n

2. \u957f\u671f\u4ef7\u503c\u9501\u5b9a\uff1aBenFen \u56e2\u961f 87.84% (50% \u5168\u5c40\u62b5\u62bc\u56fd\u5e93 +37.84% \u957f\u671f\u6316\u77ff\u91ca\u653e ) > Ethena \u56e2\u961f > Lista \u56e2\u961f\u3002<\/strong>BenFen \u7684\u4ee3\u5e01\u7ecf\u6d4e\u6a21\u578b\u5c55\u73b0\u4e86\u663e\u8457\u7684\u957f\u671f\u4ef7\u503c\u9501\u5b9a\u503e\u5411\uff0c\u8fd9\u79cd\u9ad8\u6bd4\u4f8b\u7684\u957f\u671f\u9501\u5b9a\u7b56\u7565\u4e0d\u4ec5\u6709\u5229\u4e8e\u7ef4\u6301\u4ef7\u683c\u7a33\u5b9a\u6027\uff0c\u8fd8\u80fd\u4e3a\u7528\u6237\u63d0\u4f9b\u66f4\u7a33\u5b9a\u3001\u5f3a\u52b2\u7684\u4ef7\u503c\u652f\u6491\u3002\u76f8\u6bd4\u4e4b\u4e0b\uff0cEthena \u548c Lista \u7684\u957f\u671f\u9501\u5b9a\u6bd4\u4f8b\u76f8\u5bf9\u8f83\u4f4e\uff0c\u7b56\u7565\u4e0a\u66f4\u6ce8\u91cd\u77ed\u671f\u5e02\u573a\u8868\u73b0\u548c\u6d41\u52a8\u6027\u3002\u5bf9\u4e8e\u6f5c\u5728\u53c2\u4e0e\u8005\u800c\u8a00\uff0cBenFen \u7684\u4ee3\u5e01\u6a21\u578b\u9ad8\u9501\u5b9a\u6bd4\u4f8b\u4e5f\u610f\u5473\u7740\u8f83\u9ad8\u7684\u957f\u671f\u589e\u957f\u6f5c\u529b\uff0c\u540c\u65f6\u4e5f\u662f\u4e00\u79cd\u6709\u6548\u7684\u6297\u901a\u80c0\u8bbe\u8ba1\u3002\u6b64\u5916\uff0c\u8fd9\u79cd\u957f\u671f\u6316\u77ff\u673a\u5236\u4e5f\u6709\u5229\u4e8e\u57f9\u517b\u7a33\u5b9a\u7684\u7528\u6237\u7fa4\u548c\u63d0\u5347\u6574\u4f53\u7f51\u7edc\u5b89\u5168\u3002<\/p>\n

3. \u521d\u59cb\u9884\u4f30\u4f30\u503c\u4e0e\u589e\u957f\u6f5c\u529b\uff1aBenFen \u7684\u521d\u59cb FDV \u4ec5 1 \u4ebf\u7f8e\u5143\uff0c\u8fdc\u4f4e\u4e8e Ethena\uff08\u767e\u4ebf\u7ea7\uff09\u548c Lista\uff08\u5341\u4ebf\u7ea7\uff09\u3002<\/strong>\u5bf9\u4e8e\u65e9\u671f\u53c2\u4e0e\u8005\u6765\u8bf4\uff0cBenFen \u63d0\u4f9b\u4e86\u66f4\u5927\u7684\u589e\u503c\u7a7a\u95f4\u548c\u6f5c\u5728\u56de\u62a5\u3002\u4f4e\u4f30\u503c\u4e5f\u4f7f BenFen \u56e2\u961f\u5728\u5b9a\u4ef7\u548c\u5e02\u573a\u7b56\u7565\u4e0a\u66f4\u5177\u7075\u6d3b\u6027\uff0c\u6709\u5229\u4e8e\u5feb\u901f\u83b7\u53d6\u5e02\u573a\u4efd\u989d\u548c\u7528\u6237\u57fa\u7840\u3002Ethena \u4e0e Lista \u8fd9\u4e24\u4e2a\u9879\u76ee\u7684\u5e02\u573a\u8868\u73b0\u5219\u5448\u73b0\u51fa\u660e\u663e\u7684\u4e24\u6781\u5316\uff1a\u4e00\u65b9\u9762\uff0c\u6295\u8d44\u8005\u5bf9\u5176\u521b\u65b0\u6a21\u5f0f\u548c\u672a\u6765\u524d\u666f\u8868\u793a\u770b\u597d\uff0c\u6d41\u901a\u6027\u76f8\u5bf9\u53ef\u89c2\uff1b\u7136\u800c\uff0c\u5176\u4ee3\u5e01\u4ef7\u683c\u76f8\u5bf9\u5f00\u76d8\u4ef7\u7684\u663e\u8457\u6ce2\u52a8\u4e5f\u5f15\u53d1\u4e86\u5e02\u573a\u7684\u5e7f\u6cdb\u8ba8\u8bba\u3002<\/p>\n

4. \u4ee3\u5e01\u7a00\u7f3a\u6027\uff1a\u6839\u636e BenFen \u7684\u4ee3\u5e01\u5206\u914d\u6a21\u578b\uff0cBenFen \u7ea6\u6709\u9ad8\u8fbe 92% \u4ee3\u5e01\u5904\u4e8e\u76f8\u5bf9\u9501\u5b9a\u72b6\u6001\uff0c\u5927\u6bd4\u4f8b\u9501\u5b9a\u4e0d\u4ec5\u4f1a\u51cf\u5c11\u77ed\u671f\u5185\u7684\u5927\u91cf\u629b\u552e\u538b\u529b\uff0c\u66f4\u6709\u5229\u4e8e\u5efa\u7acb\u66f4\u7a33\u5b9a\u3001\u53ef\u6301\u7eed\u7684\u4ee3\u5e01\u7ecf\u6d4e\u6a21\u578b\uff0c\u5bf9\u9879\u76ee\u957f\u671f\u53d1\u5c55\u5927\u6709\u88e8\u76ca\u3002\u52a0\u4e0a\u8f83\u4f4e\u7684\u521d\u59cb\u6d41\u901a\u91cf\uff0c\u6709\u5927\u6982\u7387\u5bfc\u81f4\u5176\u539f\u751f\u4ee3\u5e01 BFC \u5177\u6709\u8f83\u9ad8\u7684\u4ee3\u5e01\u7a00\u7f3a\u6027\u3002<\/strong><\/p>\n

\u7efc\u5408\u4ee5\u4e0a\uff0cBenFen \u4f5c\u4e3a\u540e\u6765\u8005\uff0c\u867d\u7136\u5c1a\u672a\u6b63\u5f0f\u4e0a\u7ebf\uff0c\u4f46\u6838\u5fc3\u4f18\u52bf\u5df2\u5341\u5206\u660e\u663e\uff1a<\/p>\n

1. \u6781\u5177\u5438\u5f15\u529b\u7684\u521d\u59cb\u9884\u4f30\u4f30\u503c\uff1aBenFen \u7684\u521d\u59cb\u5b8c\u5168\u7a00\u91ca\u4f30\u503c\uff08FDV\uff09\u4e3a 1 \u4ebf\u7f8e\u5143\uff0c\u8fdc\u4f4e\u4e8e Ethena\uff08\u7ea6 100 \u4ebf\u7f8e\u5143\uff09\u548c Lista\uff08\u7ea6 10 \u4ebf\u7f8e\u5143\uff09\u3002\u5bf9\u7528\u6237\u800c\u8a00\uff0c\u8fd9\u610f\u5473\u7740\uff1a<\/p>\n

    \n
  • \u5de8\u5927\u7684\u589e\u503c\u6f5c\u529b\uff1a<\/strong>\u76f8\u6bd4\u5df2\u7ecf\u8fbe\u5230\u8f83\u9ad8\u4f30\u503c\u7684\u7ade\u4e89\u5bf9\u624b\uff0cBenFen \u6709\u66f4\u5927\u7684\u4e0a\u6da8\u7a7a\u95f4\u3002<\/li>\n
  • \u65e9\u671f\u5165\u573a\u4f18\u52bf\uff1a<\/strong>\u4f4e\u521d\u59cb\u9884\u4f30\u4f30\u503c\u4e3a\u65e9\u671f\u53c2\u4e0e\u8005\u63d0\u4f9b\u4e86\u53ef\u80fd\u83b7\u5f97\u9ad8\u56de\u62a5\u7684\u673a\u4f1a\u3002<\/li>\n
  • \u7075\u6d3b\u7684\u5e02\u573a\u7b56\u7565\uff1a<\/strong>\u8f83\u4f4e\u7684\u521d\u59cb\u9884\u4f30\u4f30\u503c\u4f7f BenFen \u80fd\u591f\u66f4\u7075\u6d3b\u5730\u8c03\u6574\u5176\u5e02\u573a\u7b56\u7565\uff0c\u53ef\u80fd\u5e26\u6765\u66f4\u591a\u7528\u6237\u53cb\u597d\u7684\u4e3e\u63aa\u3002<\/li>\n<\/ul>\n

    2. \u7528\u6237\u53cb\u597d\u7684\u4ee3\u5e01\u5206\u914d\uff1a BenFen \u4ec5\u5c06 5% \u7684\u4ee3\u5e01\u5206\u914d\u7ed9\u57fa\u91d1\u4f1a\u548c\u5f00\u53d1\u56e2\u961f\uff0c\u8fdc\u4f4e\u4e8e Ethena(45%) \u548c Lista(22.5%)\u3002\u8fd9\u79cd\u8bbe\u8ba1\u5145\u5206\u4f53\u73b0\u4e86 BenFen \u5bf9\u7528\u6237\u5229\u76ca\u7684\u91cd\u89c6\uff0c\u6709\u5229\u4e8e\u6784\u5efa\u957f\u671f\u7a33\u5b9a\u7684\u7528\u6237\u751f\u6001\u3002<\/p>\n

    3. \u793e\u533a\u9a71\u52a8\u7684\u53d1\u5c55\u6a21\u5f0f\uff1a \u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0cBenFen \u65e9\u671f\u5e76\u672a\u5f15\u5165\u98ce\u9669\u6295\u8d44\uff08VC\uff09\uff0c\u800c\u662f\u4e13\u6ce8\u4e8e\u6784\u5efa\u4e00\u4e2a\u771f\u6b63\u7531\u793e\u533a\u9a71\u52a8\u7684\u751f\u6001\u7cfb\u7edf\u3002BenFen \u56e2\u961f\u6709\u610f\u8bc6\u5730\u9009\u62e9\u5c06\u66f4\u591a\u4ef7\u503c\u56de\u9988\u7ed9\u666e\u901a\u7528\u6237\u548c\u793e\u533a\u6210\u5458\u3002\u5bf9\u7528\u6237\u6765\u8bf4\uff0c\u8fd9\u610f\u5473\u7740\uff1a<\/p>\n

      \n
    • \u66f4\u516c\u5e73\u7684\u53c2\u4e0e\u673a\u4f1a\uff1a\u6ca1\u6709\u5927\u578b\u673a\u6784\u6295\u8d44\u8005\u7684\u4f18\u5148\u6743\uff0c\u666e\u901a\u7528\u6237\u6709\u66f4\u5e73\u7b49\u7684\u53c2\u4e0e\u673a\u4f1a\u3002<\/li>\n
    • \u66f4\u5f3a\u7684\u793e\u533a\u5f71\u54cd\u529b\uff1a\u7528\u6237\u7684\u58f0\u97f3\u548c\u9700\u6c42\u53ef\u80fd\u4f1a\u5f97\u5230\u66f4\u591a\u91cd\u89c6\u3002<\/li>\n
    • \u6f5c\u5728\u7684\u957f\u671f\u4ef7\u503c\uff1a\u793e\u533a\u9a71\u52a8\u7684\u9879\u76ee\u5f80\u5f80\u80fd\u591f\u5efa\u7acb\u66f4\u5fe0\u8bda\u7684\u7528\u6237\u57fa\u7840\uff0c\u6709\u5229\u4e8e\u9879\u76ee\u7684\u957f\u671f\u53d1\u5c55\u3002<\/li>\n
    • \u8fd9\u79cd\u4e0d\u8fc7\u5ea6\u4f9d\u8d56 VC \u7684\u6a21\u5f0f\u5c55\u73b0\u4e86 BenFen \u5bf9\u6784\u5efa\u7528\u6237\u53cb\u597d\u548c\u793e\u533a\u53cb\u597d\u751f\u6001\u7cfb\u7edf\u7684\u575a\u5b9a\u51b3\u5fc3\u3002<\/li>\n<\/ul>\n

      \u771f\u5b9e\u5e94\u7528\u573a\u666f<\/strong><\/p>\n

      \u6700\u540e\u6211\u4eec\u518d\u6765\u770b\u5e94\u7528\u573a\u666f\u3002<\/p>\n

      Ethena \u7684\u613f\u666f\u662f\u4ece\u4f20\u7edf\u91d1\u878d\u4e16\u754c\u4e2d\u62a2\u593a\u52a0\u5bc6\u300c\u8d27\u5e01\u6743\u300d\uff0c\u76ee\u6807\u662f\u6253\u8d25\u6cf0\u8fbe\uff0c\u521b\u5efa\u4e00\u4e2a\u4e0d\u9700\u8981\u4f9d\u9760\u6cd5\u5e01\u94f6\u884c\u7cfb\u7edf\u8fd0\u4f5c\u7684\u7f8e\u5143\u7a33\u5b9a\u5e01\uff1b\u76ee\u524d\u4ea7\u54c1\u5206\u4e3a\u4e09\u7c7b\uff1aUSDe\u3001Internet Bonds\u3001Repo Financing\u3002 USDe \u4f5c\u4e3a\u884d\u751f\u54c1\u57fa\u7840\u8bbe\u65bd\u7c7b\u7a33\u5b9a\u5e01\u3001Internet Bonds \u4f5c\u4e3a\u5168\u7403\u901a\u7528\u7684\u6d6e\u52a8\u548c\u56fa\u5b9a\u5229\u7387\u7f8e\u5143\u8ba1\u4ef7\u503a\u5238\u3001Repo \u56de\u8d2d\u503a\u5238\u534f\u8bae\u529f\u80fd\uff0c\u901a\u8fc7\u63d0\u4f9b\u6d41\u52a8\u6027\u83b7\u53d6\u6536\u76ca\u3002\u94c1\u4e86\u5fc3\u5728\u91d1\u878d\u8d5b\u9053\u62a2\u996d\u5403\u3002<\/p>\n

      Lista \u57fa\u4e8e BNB \u94fe\u4e3b\u653b\u6d41\u52a8\u6027\u8d28\u62bc\u548c\u6253\u9020\u53bb\u4e2d\u5fc3\u5316\u7a33\u5b9a\u5e01\uff08LSDFi\uff09\uff0c\u65e8\u5728\u4e3a\u62b5\u62bc\u52a0\u5bc6\u8d44\u4ea7\uff08\u5982 BNB\u3001ETH\u3001\u7a33\u5b9a\u5e01\u7b49\uff09\u63d0\u4f9b\u6536\u76ca\uff0c\u5e76\u652f\u6301\u501f\u8d37\u53bb\u4e2d\u5fc3\u5316\u7a33\u5b9a\u5e01 LISUSD\u3002\u5728\u5e94\u7528\u573a\u666f\u65b9\u9762\uff0c\u5e94\u7528\u4e8e NFT\u3001\u6e38\u620f\u7b49\u9886\u57df\u3002Lista DAO \u7684\u6838\u5fc3\u4ea7\u54c1\u4e4b\u4e00\u662f\u7a33\u5b9a\u5e01\u501f\u8d37\u670d\u52a1\uff0c\u53e6\u4e00\u6838\u5fc3\u4ea7\u54c1\u662f\u6d41\u52a8\u6027\u8d28\u62bc\u3002\u613f\u666f\u662f\u8ba9\u7528\u6237\u4eab\u53d7\u5b89\u5168\u7b80\u5355\u65e0\u9700\u8bb8\u53ef\u7684\u6d41\u52a8\u6027\u8d28\u62bc\u548c\u7a33\u5b9a\u5e01\u501f\u8d37\u89e3\u51b3\u65b9\u6848\u3002<\/p>\n

      BenFen \u5728\u5f00\u521b\u5168\u65b0\u7684\u5168\u5c40\u62b5\u62bc\u7a33\u5b9a\u5e01\u53d9\u4e8b\u540e\uff0c\u91cd\u70b9\u843d\u5728\u771f\u5b9e\u5e94\u7528\u573a\u666f\u4e0a\u3002\u8fd9\u4f53\u73b0\u5728 BenFen \u7684\u7a33\u5b9a\u5e01\u4e0d\u4ec5\u7528\u4e8e\u652f\u4ed8 Gas \u8d39\u7528\u548c\u94fe\u4e0a\u8d28\u62bc\uff0c\u8fd8\u5c06\u63a8\u51fa BenFen Card\uff0c\u5b9e\u73b0\u52a0\u5bc6\u8d27\u5e01\u4e0e\u6cd5\u5e01\u652f\u4ed8\u7684\u65e0\u7f1d\u8854\u63a5\u3002\u5bf9\u7528\u6237\u6765\u8bf4\uff0c\u8fd9\u610f\u5473\u7740\u66f4\u4fbf\u6377\u7684\u65e5\u5e38\u4f7f\u7528\u4f53\u9a8c\u548c\u66f4\u5e7f\u6cdb\u7684\u5e94\u7528\u573a\u666f\u3002\u6b64\u5916\uff0cBenFen \u56e2\u961f\u8fd8\u57fa\u4e8e\u5e02\u573a\u9700\u6c42\uff0c\u6253\u9020\u4e86\u5b8c\u6574\u7684\u95ed\u73af\u751f\u6001\uff0c\u5305\u62ec\u4f46\u4e0d\u9650\u4e8e Card\u3001DeFi\u3001Pay\u3001\u8d44\u4ea7\u8de8\u94fe\u4ee5\u53ca RWA\uff08\u5b9e\u7269\u8d44\u4ea7\u4ee3\u5e01\u5316\uff09\u7b49\uff0c\u4e3a\u7528\u6237\u63d0\u4f9b\u5168\u65b9\u4f4d\u7684\u91d1\u878d\u670d\u52a1\u89e3\u51b3\u65b9\u6848\u3002<\/p>\n

      \u968f\u7740 2024 \u5e74\u7684\u7a33\u5b9a\u5e01\u5e02\u573a\u65e5\u8d8b\u300c\u5185\u5377\u300d\u5316\uff0cEthena\u3001Lista \u548c BenFen \u5404\u81ea\u4ee5\u4e0d\u540c\u7684\u6a21\u5f0f\u4e0e\u673a\u5236\u5438\u5f15\u7740\u7528\u6237\u76ee\u5149\u3002Ethena \u548c Lista \u51ed\u501f\u5176\u6a21\u5f0f\u5df2\u7ecf\u5728\u5e02\u573a\u4e2d\u5360\u636e\u4e00\u5e2d\u4e4b\u5730\uff0c\u5df2\u53cc\u53cc\u4e0a\u7ebf\u5e01\u5b89\u4ea4\u6613\u6240\uff0c\u800c BenFen \u5219\u4ee5\u5176\u72ec\u7279\u7684\u5168\u5c40\u62b5\u62bc\u7a33\u5b9a\u5e01\u53d9\u4e8b\u548c\u793e\u533a\u9a71\u52a8\u7b56\u7565\u5c55\u73b0\u51fa\u5de8\u5927\u6f5c\u529b\uff0c\u4e3b\u7f51\u9884\u8ba1\u5c06\u4e8e 8 \u6708\u4e0a\u7ebf\u3002<\/p>\n

      BenFen \u7684\u4f4e\u521d\u59cb\u4f30\u503c\u548c\u5e73\u8861\u7684\u4ee3\u5e01\u5206\u914d\u4e3a\u65e9\u671f\u53c2\u4e0e\u8005\u63d0\u4f9b\u4e86\u6f5c\u5728\u7684\u673a\u4f1a\uff0c\u5b83\u7684\u5168\u5c40\u62b5\u62bc\u7a33\u5b9a\u5e01\u7684\u521b\u65b0\u6a21\u5f0f\u53ef\u80fd\u4e3a\u7a33\u5b9a\u5e01\u5e02\u573a\u5e26\u6765\u65b0\u7684\u601d\u8def\uff0c\u5176\u4e30\u5bcc\u7684\u751f\u6001\u5e94\u7528\u5e03\u5c40\uff0c\u66f4\u6709\u671b\u63a8\u52a8\u7a33\u5b9a\u5e01\u548c\u533a\u5757\u94fe\u6280\u672f\u5728\u5b9e\u9645\u573a\u666f\u4e2d\u7684\u5e7f\u6cdb\u5e94\u7528\u548c\u666e\u53ca\u3002<\/p>\n

      \u76ee\u524d\uff0cBenFen \u9879\u76ee\u6b63\u5904\u4e8e\u7b2c\u4e09\u8f6e\u516c\u6d4b\u9636\u6bb5\uff0c\u8fd9\u8f6e\u6d4b\u8bd5\u4e3b\u8981\u5728\u6d4b\u8bd5\u9879\u76ee\u7684\u6838\u5fc3\u529f\u80fd\u3001\u6df1\u5ea6\u4f53\u9a8c\u8de8\u94fe\u6865\u7b49\uff0c\u4e5f\u4e3a\u5373\u5c06\u5230\u6765\u7684\u4e3b\u7f51\u4e0a\u7ebf\u505a\u5168\u9762\u7b79\u5907\u3002<\/p>\n

      \u5bf9\u4e8e\u5173\u6ce8\u7a33\u5b9a\u5e01\u53d1\u5c55\u7684\u6295\u8d44\u8005\u548c\u53c2\u4e0e\u8005\u6765\u8bf4\uff0c\u5bc6\u5207\u5173\u6ce8\u8fd9\u4e9b\u65b0\u5174\u9879\u76ee\u7684\u8fdb\u5c55\uff0c\u4e86\u89e3\u5b83\u4eec\u7684\u4f18\u52bf\u548c\u6f5c\u5728\u98ce\u9669\uff0c\u5c06\u6709\u52a9\u4e8e\u5728\u8fd9\u4e2a\u77ac\u606f\u4e07\u53d8\u7684\u5e02\u573a\u4e2d\u505a\u51fa\u66f4\u660e\u667a\u7684\u51b3\u7b56\u3002<\/p>\n

      \u5728\u5ba1\u614e\u8bc4\u4f30\u548c\u7406\u6027\u5206\u6790\u7684\u57fa\u7840\u4e0a\uff0c\u8fd9\u4e9b\u65b0\u5174\u9879\u76ee\u53ef\u80fd\u4e3a\u7a33\u5b9a\u5e01\u5e02\u573a\u5e26\u6765\u79ef\u6781\u7684\u53d8\u5316\uff0c\u63a8\u52a8\u6574\u4e2a\u751f\u6001\u7cfb\u7edf\u5411\u7740\u66f4\u52a0\u9ad8\u6548\u3001\u5305\u5bb9\u548c\u521b\u65b0\u7684\u65b9\u5411\u53d1\u5c55\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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