{"id":4350,"date":"2026-10-06T22:45:36","date_gmt":"2026-10-06T14:45:36","guid":{"rendered":"https:\/\/www.ydsw.net\/?p=4350"},"modified":"2026-10-06T22:45:36","modified_gmt":"2026-10-06T14:45:36","slug":"%e9%a2%a0%e8%a6%86%e4%bc%a0%e7%bb%9f%e9%87%91%e8%9e%8d%ef%bc%8cdefi%e7%9a%84%e9%ab%98%e6%94%b6%e7%9b%8a%e7%8e%87%e6%98%af%e5%a6%82%e4%bd%95%e4%ba%a7%e7%94%9f%e7%9a%84%ef%bc%9f-2","status":"publish","type":"post","link":"https:\/\/www.gzmgg.com\/?p=4350","title":{"rendered":"\u98a0\u8986\u4f20\u7edf\u91d1\u878d\uff0cDeFi\u7684\u9ad8\u6536\u76ca\u7387\u662f\u5982\u4f55\u4ea7\u751f\u7684\uff1f"},"content":{"rendered":"<p><strong>\u539f\u6587\u6807\u9898\uff1a\u300a\u540a\u6253\u4f20\u7edf\u91d1\u878d\u7684DeFi\uff0c\u5176\u9ad8\u6536\u76ca\u7387\u7a76\u7adf\u4ece\u4f55\u800c\u6765\uff1f\u300b<\/strong><\/p>\n<p><strong>\u4f5c\u8005\uff1aChen Zou<\/strong><\/p>\n<p>\u8fd1\u51e0\u5e74\uff0c\u4f20\u7edf\u7684\u94f6\u884c\u4e1a\u52a1\u8d8a\u6765\u8d8a\u4e0d\u53d7\u4eba\u5f85\u89c1\uff0c\u7f8e\u56fd\u4e00\u4e9b\u94f6\u884c\u50a8\u84c4\u8d26\u6237\u7684\u5e74\u5229\u7387\u751a\u81f3\u53ef\u4ee5\u4f4e\u5230\u53ef\u7b11\u7684 0.1 %\uff08\u8003\u8651\u5230\u76ee\u524d\u7f8e\u56fd\u7684\u901a\u80c0\u63a5\u8fd1 5 %\uff0c\u5b58\u50a8\u84c4\u8d26\u6237=\u6492\u5e01\uff09\uff1b\u800c\u540c\u671f\uff0c\u5728 Anchor Protocol \u4e2d\u5b58\u6b3e\u7684\u5e74\u5229\u7387\u4e3a 20 %\uff08\u6ce8\uff1aAnchor Protocol \u57fa\u4e8e\u7a33\u5b9a\u8d44\u4ea7\u534f\u8bae Terra Money \u521b\u5efa\uff0c\u662f\u4e00\u79cd\u65b0\u578b\u7684\u50a8\u84c4\u534f\u8bae\uff0c\u65e8\u5728\u901a\u8fc7\u534f\u8c03\u6765\u81ea\u591a\u4e2a\u4e0d\u540c&nbsp;PoS&nbsp;\u5171\u8bc6\u7684\u533a\u5757\u94fe\u7684\u533a\u5757\u5956\u52b1\u6765\u5e73\u8861\u5229\u7387\uff0c\u6700\u7ec8\u5b9e\u73b0\u7a33\u5b9a\u6536\u76ca\u7387\u7684\u5b58\u50a8\u5229\u7387 \uff09\u6211\u60f3\u4efb\u4f55\u4eba\u90fd\u77e5\u9053\u63a5\u4e0b\u6765\u5e94\u8be5\u9009\u54ea\u4e00\u4e2a\u3002<\/p>\n<p>Defi \u7684\u6536\u76ca\u7387\u4f3c\u4e4e\u5f88\u591a\u65f6\u5019\u90fd\u9ad8\u7684\u6709\u4e9b\u4e0d\u5207\u5b9e\u9645\uff0c\u8fd9\u8ba9\u4eba\u4e0d\u5f97\u4e0d\u611f\u5230\u597d\u5947\uff0c\u8fd9\u4e9b\u6536\u76ca\u7387\u662f\u5982\u4f55\u4ea7\u751f\u7684\uff1f\u5b83\u4eec\u771f\u7684\u662f\u53ef\u6301\u7eed\u7684\u5417\uff0c\u8fd8\u662f\u4ec5\u4ec5\u662f\u5e9e\u6c0f\u9a97\u5c40\uff1f<\/p>\n<p>\u76f8\u5bf9\u4e8e\u4f20\u7edf\u91d1\u878d\u7b49\u5176\u4ed6\u5e02\u573a\uff0c\u52a0\u5bc6\u8d27\u5e01\u7684\u6536\u76ca\u7387\u5f88\u9ad8\uff0c\u8fd9\u4e5f\u662f\u8bb8\u591a\u6000\u7591\u8bba\u8005\u62a8\u51fb\u7684\u5730\u65b9\uff0c\u9ad8\u5f97\u5f02\u5e38\u7684\u6536\u76ca\u7387 = \u5e9e\u6c0f\u9a97\u5c40\uff0c\u8fd9\u5728\u903b\u8f91\u4e0a\u597d\u50cf\u5e76\u6ca1\u6709\u4ec0\u4e48\u4e0d\u5bf9 \u3002\u4f46\u6211\u4eec\u8fd8\u662f\u8981\u81ea\u5df1\u53bb\u7814\u7a76\uff0c\u53bb\u4e86\u89e3\uff0c\u505a\u597d\u5c3d\u804c\u8c03\u67e5\u6bd4\u4ec0\u4e48\u90fd\u91cd\u8981\u3002<\/p>\n<p><strong>DeFi&nbsp;\u7684\u9ad8\u6536\u76ca\u5e76\u4e0d\u662f\u53ea\u6709 Degen \u624d\u80fd\u8d5a\u5230<\/strong><\/p>\n<p>DeFi\u53ef\u80fd\u56e0\u5176\u6781\u9ad8\u7684\u6536\u76ca\u7387\u800c\u95fb\u540d\uff0c\u5373\u4fbf\u662f\u4f7f\u7528\u76f8\u5bf9\u5b89\u5168\u7684\u8d44\u4ea7\uff0c\u5982USDC\u3001USDT\u3001DAI\u548cBUSD\u3002\u4e5f\u80fd\u83b7\u5f97\u76f8\u5f53\u4e0d\u9519\u7684\u6536\u76ca\uff1a<\/p>\n<ul>\n<li>Aave&nbsp;\u548c&nbsp;Compound&nbsp;\u7b49\u5e73\u53f0\u4e0a\u7684\u7a33\u5b9a\u5e01\u501f\u8d37\uff1a6-8 %\u7684\u5e74\u6536\u76ca\u7387<\/li>\n<li>\u8d28\u62bc\uff1a4-20 % \u7684\u5e74\u6536\u76ca\u7387<\/li>\n<li>\u6d41\u52a8\u6027\u6316\u77ff&nbsp;\uff1a50-200 % \u7684\u5e74\u6536\u76ca\u7387<\/li>\n<li>Degen \u51b2\u571f\u77ff\u7684\u6536\u76ca\u7387\uff1a200-30M% \u7684\u5e74\u6536\u76ca\u7387<\/li>\n<\/ul>\n<p>\u5f88\u660e\u663e\uff0c\u98ce\u9669\u548c\u6536\u76ca\u5728\u52a0\u5bc6\u5e02\u573a\u4e5f\u662f\u6b63\u76f8\u5173\u3002\u4f8b\u5982\uff0c\u5c06\u4f60\u7684\u7a33\u5b9a\u5e01\u501f\u7ed9\u76f8\u5bf9\u5b89\u5168\u7684\u534f\u8bae\uff08Aave \u548c Compound\uff09\uff0c\u5b83\u4eec\u53ef\u4ee5\u7ed9\u4f60\u6bcf\u5e74\u81f3\u5c11 4 %\u7684\u6536\u76ca\u3002\u4e0b\u56fe\u4e3a Aave \u7684\u5e74\u6536\u76ca\u7387\uff1a<\/p>\n<figure class=\"image\"><img decoding=\"async\" src=\"https:\/\/hx24.huoxing24.cn\/image\/crawler\/2021\/12\/02\/1638433927631482.jpg\" alt=\"Defi\"><\/figure>\n<p>\u501f\u8d37\u7684\u6536\u76ca\u7387\u6765\u81ea\u4e8e\u501f\u6b3e\u4eba\u4ece\u534f\u8bae\u4e2d\u501f\u5165\u8d44\u91d1\u5e76\u652f\u4ed8\u8f83\u9ad8\u7684\u5229\u606f\u3002\u534f\u8bae\u4f7f\u501f\u8d37\u4e4b\u95f4\u7684\u5229\u5dee\uff0c\u7c7b\u4f3c\u4e8e\u4eca\u5929\u94f6\u884c\u7684\u505a\u6cd5\u3002\u5982\u679c\u5bf9\u501f\u8d37\u7684\u9700\u6c42\u4e0a\u5347\uff0c\u501f\u8d37\u7684\u6536\u76ca\u7387\u4e5f\u4f1a\u4e0a\u5347\u3002<\/p>\n<p>\u800c\u4e0d\u540c\u7a33\u5b9a\u5e01\u4e4b\u95f4\u7684\u6536\u76ca\u7387\u4e5f\u4f1a\u4e0d\u540c\u3002\u4f8b\u5982\uff0cUSDT\u7684\u6536\u76ca\u7387\u5f80\u5f80\u8f83\u9ad8\uff0c\u56e0\u4e3a\u76ee\u524d\u79cd\u79cd\u76d1\u7ba1\u3001\u9ed1\u5e55\u95ee\u9898\u7f20\u8eab\u7684 USDT \u8ba9\u8bb8\u591a\u6295\u8d44\u8005\u5f00\u59cb\u907f\u800c\u8fdc\u4e4b\uff0c\u6240\u4ee5\u4e00\u5206\u98ce\u9669\u6362\u6765\u4e00\u5206\u6536\u76ca\uff0c\u5929\u7ecf\u5730\u4e49\u3002<\/p>\n<p>\u53c2\u4e0e\u8fd9\u79cd\u6295\u8d44\u6240\u627f\u62c5\u7684\u98ce\u9669\u662f\uff1a<\/p>\n<ul>\n<li>\u534f\u8bae\u6210\u4e3a\u9ed1\u5ba2\u653b\u51fb\u7684\u76ee\u6807<\/li>\n<li>\u62b5\u62bc\u54c1\u4e0d\u8db3<\/li>\n<\/ul>\n<p>\u8fd9\u90fd\u6709\u53ef\u80fd\u5bfc\u81f4\u6295\u8d44\u8005\u5931\u53bb\u672c\u91d1\u3002\u88ab\u63a5\u4e8c\u8fde\u4e09\u653b\u51fb\u7684Cream&nbsp;Finance\u5c31\u662f\u4e2a\u76f8\u5f53\u597d\u7684\u4f8b\u5b50\u3002\u6bd4\u63a8\u6b64\u524d\u5c31\u8be5\u9879\u76ee\u66fe\u505a\u8fc7\u591a\u6b21\u62a5\u9053\uff0c<strong>\u3010DeFi \u534f\u8bae Cream Finance \u518d\u906d\u95ea\u7535\u8d37\u653b\u51fb\uff0c\u635f\u5931\u91d1\u989d\u8d85\u8fc7 1.3 \u4ebf\u7f8e\u5143\u3011\u3001\u3010Cream Finance\u906d\u5230\u95ea\u7535\u8d37\u653b\u51fb\u7cfbAMP\u4ee3\u5e01\u5408\u7ea6\u5b58\u5728\u53ef\u91cd\u5165\u6f0f\u6d1e\u3011\u3001\u3010Cream \u7f51\u7ad9 DNS \u88ab\u653b\u51fb\uff0c\u56e2\u961f\u63d0\u9192\u7528\u6237\u4e0d\u8981\u5c06\u79c1\u94a5\u7b49\u4fe1\u606f\u63d0\u4ea4\u81f3\u7f51\u7ad9\u3011\u3002<\/strong><\/p>\n<p>Cream Finance\u7684\u6d41\u52a8\u6027\u6c60\u6700\u7ec8\u88ab\u5f7b\u5e95\u638f\u7a7a\uff0c\u800c\u8be5\u4ea7\u54c1\u7684\u7528\u6237\uff0c\u6210\u4e3a\u4e86\u727a\u7272\u54c1\u3002<\/p>\n<figure class=\"image\"><img decoding=\"async\" src=\"https:\/\/hx24.huoxing24.cn\/image\/crawler\/2021\/12\/02\/1638433927630156.jpg\" alt=\"Defi\"><\/figure>\n<p><strong>\u6d41\u52a8\u6027\u6316\u77ff<\/strong><\/p>\n<p>\u6210\u4e3a\u653e\u8d37\u8005\u5e76\u4e0d\u662f\u8d5a\u53d6 Defi \u7ea2\u5229\u7684\u552f\u4e00\u65b9\u5f0f\uff0c\u4f60\u4e5f\u53ef\u4ee5\u9009\u62e9\u901a\u8fc7\u5728\u6d41\u52a8\u6027\u6c60\u4e2d\u63d0\u4f9b\u6d41\u52a8\u6027\u6765\u8d5a\u53d6\u6536\u76ca\uff0c\u5373\u6d41\u52a8\u6027\u6316\u77ff\u3002\u8fd9\u610f\u5473\u7740\u4f60\u53ef\u4ee5\u4f5c\u4e3a\u505a\u5e02\u5546\u6536\u53d6\u4ea4\u6613\u8d39\uff0c\u6709\u65f6\u4e5f\u53ef\u4ee5\u901a\u8fc7\u6cbb\u7406\u4ee3\u5e01\u7684\u5f62\u5f0f\u6536\u53d6\u4ea4\u6613\u8d39\u4f5c\u4e3a\u5956\u52b1\u3002<\/p>\n<p>\u4f46\u63d0\u4f9b\u6d41\u52a8\u6027\u4e5f\u4e0d\u662f0\u98ce\u9669\u7684\u4e8b\u60c5\u3002\u9996\u5148\uff0c\u4f5c\u4e3a\u6d41\u52a8\u6027\u63d0\u4f9b\u8005\uff0c\u4f60\u5fc5\u987b\u6301\u6709\u81f3\u5c11\u4e24\u4e2a\u5e01\u79cd\uff0c\u8fd9\u5c31\u610f\u5473\u7740\u4f60\u81f3\u5c11\u4f1a\u6709\u4e24\u4e2a\u52a0\u5bc6\u8d27\u5e01\u98ce\u9669\u655e\u53e3\u3002\u5176\u6b21\uff0c\u4f60\u53ef\u80fd\u4f1a\u9762\u4e34\u65e0\u5e38\u635f\u5931\uff08impermanent loss\uff09\uff0c\u5728\u8fd9\u79cd\u60c5\u51b5\u4e0b\uff0c\u6301\u6709\u4ee3\u5e01\u53cd\u800c\u662f\u4e00\u79cd\u66f4\u597d\u7684\u9009\u62e9\u3002<\/p>\n<p>\u52a0\u5bc6\u91d1\u878d\u54a8\u8be2\u516c\u53f8 Topaz Blue \u8fd1\u671f\u53d1\u5e03\u4e86\u4e00\u4efd\u5e02\u573a\u5206\u6790\u62a5\u544a\uff0c\u5176\u4e2d\u63d0\u5230\uff0cUniswap&nbsp;V3\u4e0a 49.5 %\u7684\u6d41\u52a8\u6027\u63d0\u4f9b\u8005\u90fd\u66fe\u56e0\u65e0\u5e38\u635f\u5931\u800c\u4ea7\u751f\u8d1f\u6536\u76ca\uff08\u4f46\u5373\u4fbf\u5982\u6b64\uff0cUniswap \u6240\u63d0\u4f9b\u7684\u4ea4\u6613\u8d39\u7528\u5728\u7edd\u5927\u591a\u6570\u60c5\u51b5\u4e0b\u4ecd\u80fd\u5f25\u8865\u65e0\u507f\u635f\u5931\uff0c\u8fd9\u5c31\u662f\u4e3a\u4ec0\u4e48\u4f9d\u65e7\u6709\u5927\u91cf\u6295\u8d44\u8005\u613f\u610f\u6295\u8d44\u5e76\u63d0\u4f9b\u6d41\u52a8\u6027\uff09\u5176\u5b9e\u65e0\u507f\u635f\u5931\u66f4\u50cf\u662f\u4e00\u79cd\u673a\u4f1a\u6210\u672c\uff0c\u4f60\u5e76\u4e0d\u662f\u771f\u6b63\u7684\u635f\u5931\u4e86\uff0c\u53ea\u662f\u4f60\u9009\u62e9\u7684\u65b9\u5f0f\u6ca1\u6709\u53e6\u4e00\u79cd\u53ef\u80fd\u6027\uff08\u5355\u7eaf\u6301\u5e01\uff09\u8d5a\u7684\u66f4\u591a\u800c\u5df2\u3002<\/p>\n<figure class=\"image\"><img decoding=\"async\" src=\"https:\/\/hx24.huoxing24.cn\/image\/crawler\/2021\/12\/02\/1638433927631614.jpg\" alt=\"Defi\"><\/figure>\n<p><i>\u65e0\u507f\u635f\u5931\u56fe\u89e3<\/i><\/p>\n<p>\u501f\u8d37\u534f\u8bae\u53ef\u4ee5\u63d0\u4f9b\u76f8\u5bf9\u8f83\u9ad8\u7684\u6536\u76ca\u7387\uff0c\u8fd9\u901a\u5e38\u662f\u7531\u5bf9\u6760\u6746\u7684\u9700\u6c42\u9a71\u52a8\u7684\u3002\u8fd9\u79cd\u6f5c\u5728\u7684\u6760\u6746\u9700\u6c42\u4e00\u90e8\u5206\u6765\u81ea\u4e8e\u5584\u7528\u6d88\u606f\u9762\u7684\u4ea4\u6613\u8005\uff0c\u5f80\u5f80\u5f53\u4ed6\u4eec\u6536\u83b7\u4e00\u4e9b\u5185\u5e55\u6d88\u606f\u65f6\uff0c\u4ed6\u4eec\u66f4\u504f\u597d\u5b64\u6ce8\u4e00\u63b7\u7684\u6295\u8d44\u884c\u4e3a\u65b9\u5f0f\u3002<\/p>\n<p>\u5047\u8bbe\u67d0\u4ea4\u6613\u5458\u63d0\u524d\u77e5\u9053\u4e86\u9879\u76ee\u5c06\u4f1a\u6709\u5de8\u5927\u7684\u5229\u597d\u6d88\u606f\uff0c\u8be5\u4ea4\u6613\u5458\u53ef\u80fd\u4f1a\u4ee58%\u7684\u5e74\u5229\u7387\uff08\u6bcf\u5929\u7ea6\u5408 0.02 %\uff09\u4ece\u5e02\u573a\u4e0a\u501f\u5165\u5927\u91cf\u7684USDC\uff0c\u5e76\u7528\u5b83\u6765\u79ef\u7d2f\u5927\u91cf\u7684\u4ee3\u5e01\u3002\u53ea\u8981\u4e70\u6765\u7684\u4ee3\u5e01\u6bcf\u5929\u7684\u4ef7\u683c\u6ce2\u52a8\u5927\u4e8e0.02%\uff0c\u4ea4\u6613\u5458\u5c31\u80fd\u4ece\u8be5\u501f\u8d37\u4e2d\u83b7\u5229\u3002\u7136\u800c\u501a\u9760\u5185\u5e55\u6d88\u606f\u6765\u8fdb\u884c\u5de8\u989d\u8ba2\u5355\u64cd\u4f5c\u5728 Defi \u9886\u57df\u5e76\u4e0d\u662f\u4e00\u4e2a\u660e\u667a\u7684\u9009\u62e9\uff0c\u8fd9\u79cd\u5927\u989d\u8ba2\u5355\u4f1a\u88ab\u8bb0\u5f55\u5230\u533a\u5757\u94fe\u4e0a\uff0c\u5e76\u6700\u7ec8\u88ab\u5404\u79cd\u5404\u6837\u7684\u63a2\u6d4b\u5de5\u5177\u6240\u76d1\u63a7\uff08\u4f8b\u5982\uff0cWhale 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