加密風暴海洋中的錨

在比特幣一天內可以收益或損失數千美元的市場中，Stablecoins提供了一個可預測性的島嶼。

In a market where Bitcoin can gain or lose thousands of dollars in a single day, stablecoins offer an island of predictability. These digital assets are designed to maintain a steady value—typically pegged to $1 USD—allowing users to navigate the crypto ecosystem without constantly worrying about price volatility.

在比特幣一天內可以收益或損失數千美元的市場中，Stablecoins提供了一個可預測性的島嶼。這些數字資產旨在保持穩定的價值（通常是固定在$ 1美元上），使用戶可以導航加密生態系統，而不必不斷擔心價格波動。

Since their introduction, stablecoins have transformed from simple dollar substitutes to fundamental components of the crypto economy. Today, they facilitate trading, provide on-ramps between traditional and digital finance, power lending protocols, and even serve as inflation hedges in countries with unstable currencies.

自引入以來，Stablecoins已從簡單的美元替代品轉變為加密經濟的基本組成部分。如今，它們促進了交易，提供傳統和數字融資之間的坡道，電力貸款協議，甚至是貨幣不穩定國家的通貨膨脹對沖。

This comprehensive guide will take you through everything you need to know about stablecoins—from their basic functionality to advanced strategies for maximizing their utility in your crypto journey.

該綜合指南將帶您了解有關Stablecoins所需的一切 - 從它們的基本功能到高級策略，以最大程度地利用其在加密之旅中的實用性。

What Are Stablecoins?

什麼是Stablecoins？

Stablecoins are cryptocurrencies that aim to remain linked to another asset’s price, most commonly the US dollar. Unlike Bitcoin or Ethereum, whose prices can fluctuate dramatically, stablecoins are designed to consistently trade at or very near their target price, typically $1.

穩定幣是加密貨幣，旨在保持與另一資產的價格相關，最常見的是美元。與比特幣或以太坊不同，其價格可能會顯著波動，而Stablecoins的設計旨在以其目標價格（通常為1美元）始終如一地交易或接近其目標價格。

Think of stablecoins as digital representations of traditional currencies operating on blockchain technology. They combine the stability of fiat money with the speed, programmability, and global accessibility of cryptocurrencies.

將Stablecoins視為在區塊鏈技術上運行的傳統貨幣的數字表示。他們將法定資金的穩定性與加密貨幣的速度，可編程性和全球可及性相結合。

Why Stablecoins Matter

為什麼穩定劑很重要

In essence, stablecoins solve one of cryptocurrency’s biggest challenges: price volatility. This stability enables several crucial functions:

本質上，Stablecoins解決了加密貨幣最大的挑戰之一：價格波動。這種穩定性實現了幾個關鍵功能：

Types of Stablecoins

穩定的類型

Not all stablecoins work the same way. Their stability mechanisms fall into several distinct categories:

並非所有的穩定劑都以相同的方式工作。它們的穩定機制屬於幾個不同的類別：

1. Fiat-Collateralized Stablecoins

1。菲亞特 - 合成的穩定劑

These stablecoins are backed by reserves of fiat currency held by the issuing organization. For every token in circulation, the equivalent amount of dollars (or other currency) is supposedly held in reserve.

這些Stablecoins得到了發行組織持有的法定貨幣儲備的支持。對於每一個流通的代幣，據說等效的美元（或其他貨幣）都在儲備金中持有。

Examples: USDT (Tether), USDC (USD Coin)

示例：USDT（繫繩），USDC（USD硬幣）

USDT/USD chart since May 2022 - TradingView

自2022年5月以來

How they work: When you purchase one USDC, for instance, Circle (the issuer) adds $1 to its reserves. When you redeem your USDC, they remove $1 from those reserves and burn the token.

它們的工作方式：例如，當您購買一個USDC時，Circle（發行人）為其儲備金增加了$ 1。當您贖回您的USDC時，他們會從這些儲備中刪除1美元並燃燒令牌。

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2. Crypto-Collateralized Stablecoins

2。加密合併的穩定劑

These stablecoins are backed by other cryptocurrencies, typically with over-collateralization to account for potential price drops in the collateral.

這些穩定的穩定性得到了其他加密貨幣的支持，通常會過度包裝，以說明抵押品的潛在價格下跌。

Examples: DAI, MIM (Magic Internet Money)

示例：DAI，MIM（魔術互聯網錢）

How they work: To create $100 worth of DAI, a user might deposit $150 worth of Ethereum into a smart contract. This over-collateralization helps maintain the peg even if Ethereum’s price drops.

他們的工作方式：要創建價值100美元的DAI，用戶可能會將價值150美元的以太坊存入智能合約。即使以太坊的價格下跌，這種過度的化身有助於維持PEG。

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3. Algorithmic Stablecoins

3。算法穩定

These stablecoins use algorithms and smart contracts to automatically control the supply, attempting to maintain a stable value without direct collateral.

這些Stablecoins使用算法和智能合約自動控制供應，試圖在沒有直接抵押的情況下保持穩定的價值。

Examples: Frax (partially algorithmic), Ethena's USDe

示例：Frax（部分算法），Ethena的USDE

How they work: When the price exceeds $1, the protocol increases token supply to reduce price. When the price falls below $1, it decreases supply to raise price.

它們的工作方式：當價格超過1美元時，協議會增加令牌供應以降低價格。當價格低於1美元時，它會降低供應量以提高價格。

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