Bears Streake Berachan

32億美元以熊主題為主題的區塊鏈貝拉辛（Berachain）不符合炒作。內部人士銷售和高初始估值對該項目產生了權衡

A version of this article appeared in our The Decentralised newsletter on February 11. Sign up here.

本文的一個版本出現在2月11日的分散新聞通訊中。在此處註冊。

GM, Tim here.

通用，蒂姆在這裡。

Bears strike Berachain

Bears Streake Berachan

While Berachain may be the $3.2 billion bear in the room, the project is quickly proving that it isn’t living up to the hype.

雖然貝拉辛（Berachain）可能是房間裡的32億美元熊，但該項目很快就證明了它並不符合炒作。

As we reported last week, Berachain’s native token, BERA, opened trading at around $13. It now trades for around $5 — a more than 60% drop.

正如我們上週報導的那樣，Berachain的原住民代幣Bera開業的交易約為13美元。現在，它的交易價格約為5美元，下降了60％以上。

While some investors are blaming the project’s pseudonymous co-founders for the asset’s declining value, others say that the token’s high initial valuation is the main reason for the decline.

雖然一些投資者將項目的假名共同創始人歸咎於資產的價值下降，但其他投資者則說，令牌的高初始估值是下降的主要原因。

Onchain records first identified by pseudonymous DeFi researcher Ericonomic show a wallet address linked to one of Berachain’s co-founders sold almost $1 million worth of BERA tokens received in the Berachain airdrop.

偽偏見研究員Ericonomic首次確定的OnChain記錄顯示，與Berachain的一位聯合創始人有關的錢包地址售出了近100萬美元的Bera代幣，該地址在Berachain Airdrop中獲得。

“He might be testing things in production or just adding liquidity, but even if this is the case, this should be addressed and explained immediately,” Ericonomic said.

Ericonolic說：“他可能正在測試生產中的事物或僅增加流動性，但即使是這種情況，也應立即解決並解釋。”

The co-founder in question, Itsdevbear, who also acts as the project’s chief technical officer, did not respond to a request for comment.

有關的聯合創始人，也是該項目首席技術官的Devbear沒有回應置評請求。

Several investors, including Arthur Hayes of Maelstrom, told Blockworks that the BERA token’s high initial valuation is the main reason for the asset’s declining value.

包括Maelstrom的Arthur Hayes在內的幾位投資者告訴Blockworks，Bera令牌的高初始估值是資產價值下降的主要原因。

Investors have previously criticised crypto projects launching tokens at high valuations.

投資者此前曾批評以高估的代幣推出代幣的加密項目。

“Investors don’t believe there is upside potential if a project launches with an 11 figure valuation,” Marc Weinstein, a partner at crypto investment firm Mechanism Capital, previously told DL News.

加密投資公司機制資本的合夥人馬克·溫斯坦（Marc Weinstein）先前告訴DL News，“投資者不相信一個以11個數字估值啟動的項目，如果有11個數字估值，則不會有上行潛力。”

Ondo’s new blockchain

Ondo的新區塊鏈

Ondo Finance, one of the largest issuers of tokenised US Treasury bonds, will launch its own blockchain in an attempt to lure Wall Street investors to crypto.

Ondo Finance是標記美國財政債券的最大發行人之一，它將推出自己的區塊鏈，以吸引華爾街投資者到Crypto。

The blockchain, dubbed Ondo Chain, was developed with input from some of the world’s largest financial institutions, Ian De Bode, Ondo’s chief strategy officer, said at the Ondo Summit conference on Thursday.

Ondo首席戰略官Ian de Bode在周四舉行的Ondo Summit會議上說，該區塊鏈被稱為Ondo Chain是由一些世界上最大的金融機構的投入而開發的。

To address Wall Street’s fear of running afoul of regulators, validators on Ondo Chain will be invite-only.

為了解決華爾街擔心監管機構的恐懼，將邀請Ondo Chain上的驗證者。

“This means that only known and reputable — and often regulated — institutions will be allowed to run a validator,” De Bode said.

De Bode說：“這意味著只有已知和信譽並經常受到監管的機構才能經營驗證者。”

“This also means that when you as an investor come onchain, you can rest assured that your transactions are not going to be front-run, and you can enjoy similar protections like you do in traditional finance.”

“這也意味著，當您作為投資者來Onchain時，您可以放心，您的交易不會是前進的，並且您可以像傳統金融中那樣享受類似的保護。”

Crypto-curious financial institutions, wary of public blockchains that can be accessed by anyone — including North Korean hackers — have previously created invite-only blockchains of their own. Those experiments have largely been failures.

加密有趣的金融機構，包括朝鮮黑客在內的任何人都可以訪問的公共區塊鏈持謹慎態度，以前創建了自己的邀請區塊鏈。這些實驗在很大程度上是失敗的。

A plan for Ethereum

以太坊的計劃

Ether has failed to live up to its status as “ultrasound money.”

Ether未能辜負其作為“超聲資金”的地位。

That’s according to Ethereum Foundation researcher Justin Drake, who has proposed changes to help offset the issuance of new Ether tokens.

這是根據以太坊基金會的研究人員賈斯汀·德雷克（Justin Drake）的說法，他提出了更改以抵消新的以太代幣的發行。

To do so, Drake proposes reducing the high fees on the Ethereum blockchain.

為此，Drake提議減少以太坊區塊鏈上的高費用。

Reduced fees would mean less Ether is destroyed in each transaction, but that reduced “burn” would be more than offset by new users who had previously avoided the blockchain due to its notoriously high fees.

減少的費用將意味著每筆交易中的以太幣會減少，但是減少的“燃燒”將被新用戶所抵消，而新用戶由於眾所周知的高費用而避免了區塊鏈。

“It’s much more lucrative to have 10M [transactions per second] with each transaction paying $0.001,” he said in a lengthy post on X, “than it is to have 100 TPS at $100/tx.”

他在X上的冗長帖子中說：“每次交易的收入為1000萬，每秒支付1000萬美元，比以100美元/tx的價格將100 tps的收入更高。”

Secondly, Drake wants to put a cap on new Ether tokens issued from staking.

其次，德雷克（Drake）希望在Sticking發行的新Ether代幣上加上蓋帽。

He proposes an issuance curve in the shape of a croissant — an unusual analogy, but here’s what it means:

他提出了一個羊角麵包形狀的發行曲線 - 一種不尋常的類比，但這就是它的含義：

Once a quarter of all Ether is staked, the amount of newly issued Ether should peak at 1% of the total supply. As more Ether is staked, newly issued Ether declines, eventually hitting zero once half of all Ether is staked.

一旦將所有以太的四分之一固定在一起，新發行的以太幣的數量應以總供應量的1％達到頂峰。隨著越來越多的以太固定，新發行的以太下降，最終將所有以太的一半固定在零。

“To me a 50% staking soft cap feels credibly neutral and pragmatic,” Drake said.

德雷克說：“對我來說，50％的固定軟帽感覺非常中立和務實。”

Currently, around 27% of all Ether tokens are staked.

目前，所有以太代幣中約有27％被固定在。

This week in DeFi governance

本週的辯護治理

VOTE: Gnosis DAO votes on making Karpatkey a DAO and issuing a KPK token

投票：GNOSIS DAO投票通過使Karpatkey成為DAO並發行KPK令牌

VOTE: GMX DAO weighs using fees to strengthen token liquidity

投票：GMX DAO使用費用來加強代幣流動性

VOTE: Arbitrum DAO votes to increase the Stylus Sprint programme budget

投票：仲裁道投票以增加手寫筆衝刺計劃預算

Post of the week

本週帖子

“How to DAO” author Kevin Owocki riffs on Uniswap’s latest promotional image.

在Uniswap的最新宣傳圖像上，“如何進行DAO”作家Kevin Owocki即興演奏。

pic.twitter.com/WVO7VaYUcA

pic.twitter.com/wvo7vayuca

pic.twitter.com/WVO7VaYUcA

pic.twitter.com/wvo7vayuca

Got a tip about DeFi? Reach out at tim@dlnews.com.

有關於defi的提示嗎？通過tim@dlnews.com與您聯繫。