Cardano DeFi：2025 年末穩定幣激增和生態系統演變

在穩定幣增長和創新協議的推動下，卡爾達諾的 DeFi 生態系統正在蓬勃發展。發現塑造卡爾達諾未來的主要趨勢和見解。

Cardano DeFi: Stablecoin Surge & Ecosystem Evolution in Late 2025

Cardano DeFi：2025 年末穩定幣激增和生態系統演變

Cardano's DeFi scene is heating up! With stablecoins gaining traction and exciting new projects emerging, the network is proving its resilience and potential as a credible liquidity hub. Let's dive into the latest happenings.

卡爾達諾的 DeFi 場景正在升溫！隨著穩定幣的吸引力和令人興奮的新項目的出現，該網絡正在證明其作為可靠流動性中心的彈性和潛力。讓我們深入了解最新動態。

TVL on the Rise

TVL 不斷上升

According to Messari’s Q3 2025 report, Cardano's DeFi ecosystem is experiencing a remarkable recovery. The total value locked (TVL) jumped nearly 29% to $423.5 million, marking its strongest position since early 2022. This surge is driven by liquidity flowing into lending platforms, stablecoin protocols, and innovative decentralized exchanges.

根據 Messari 的 2025 年第三季度報告，Cardano 的 DeFi 生態系統正在經歷顯著的複蘇。鎖定總價值 (TVL) 躍升近 29%，達到 4.235 億美元，創下 2022 年初以來的最高水平。這種飆升是由流入借貸平台、穩定幣協議和創新去中心化交易所的流動性推動的。

Liqwid Leading the Charge

Liqwid 引領潮流

Liqwid Finance has emerged as a frontrunner, surpassing Minswap to become Cardano’s top DeFi protocol. Liqwid’s TVL soared by 50.8% QoQ to $101.6 million, fueled by its expanding lending markets and the adoption of qTokens.

Liqwid Finance 已成為領跑者，超越 Minswap 成為 Cardano 的頂級 DeFi 協議。在不斷擴大的借貸市場和 qToken 的採用的推動下，Liqwid 的 TVL 環比飆升 50.8% 至 1.016 億美元。

Stablecoins: The Backbone of Cardano's DeFi

穩定幣：卡爾達諾 DeFi 的支柱

Stablecoins are becoming a cornerstone of Cardano's liquidity. The total stablecoin market cap on the network rose 21.5% QoQ to $38.1 million, indicating a growing demand for reliable settlement assets. USDM, USDA, and DJED are all playing significant roles in this growth.

穩定幣正在成為卡爾達諾流動性的基石。該網絡上的穩定幣總市值環比增長 21.5% 至 3810 萬美元，表明對可靠結算資產的需求不斷增長。 USDM、USDA 和 DJED 在這一增長中都發揮著重要作用。

Privacy-Enabled Stability with DJED

DJED 的隱私穩定性

DJED, backed by ADA reserves, has become a key liquidity source for lending protocols. The upcoming Private DJED will extend this model into confidential transactions, balancing transparency, compliance, and user privacy.

DJED 在 ADA 儲備的支持下，已成為藉貸協議的關鍵流動性來源。即將推出的 Private DJED 將把這種模式擴展到保密交易，平衡透明度、合規性和用戶隱私。

DEXs Evolving Beyond Token Swaps

DEX 的發展超越了代幣互換

Cardano's DEX ecosystem is expanding beyond simple token swaps. Platforms like WingRiders and Splash are experiencing growth, while CSWAP is venturing into NFTs and real-world assets.

Cardano 的 DEX 生態系統正在擴展到簡單的代幣交換之外。 WingRiders 和 Splash 等平台正在經歷增長，而 CSWAP 正在涉足 NFT 和現實世界資產。

A Diversifying Ecosystem

多元化的生態系統

Cardano's DeFi diversity score is on the rise, indicating that liquidity is spreading across a wider range of protocols. This makes the network more resilient to market shocks and volatility.

卡爾達諾的 DeFi 多樣性得分正在上升，表明流動性正在更廣泛的協議中擴散。這使得網絡對市場衝擊和波動更具彈性。

Looking Ahead

展望未來

With upcoming RWA launches, Private DJED integrations, and planned liquidity injections, Cardano's DeFi ecosystem is poised for further growth. The network could become one of the fastest-growing Layer-1 DeFi ecosystems, combining transparent governance, stablecoin growth, and privacy-driven financial innovation.

隨著即將推出的 RWA、Private DJED 集成以及計劃中的流動性注入，Cardano 的 DeFi 生態系統已準備好進一步發展。該網絡可能成為增長最快的 Layer-1 DeFi 生態系統之一，結合透明治理、穩定幣增長和隱私驅動的金融創新。

Cardano vs. the New Kids on the Block

卡爾達諾與街區裡的新來者

While Cardano is making strides, it's worth noting the emergence of new DeFi projects like Mutuum Finance (MUTM). These projects are capturing attention with innovative approaches to lending and borrowing. While Cardano offers stability and a proven track record, these newcomers present potentially higher growth opportunities, albeit with more risk.

儘管 Cardano 正在取得長足進步，但值得注意的是 Mutuum Finance (MUTM) 等新 DeFi 項目的出現。這些項目通過創新的借貸方法引起了人們的關注。雖然卡爾達諾提供穩定性和良好的業績記錄，但這些新來者提供了潛在的更高增長機會，儘管風險更大。

Cardano is proving that it is a serious contender in the DeFi space, with strong growth in stablecoins, innovative projects, and a diversifying ecosystem. It's an exciting time to be watching (and participating in!) the Cardano DeFi evolution. So buckle up, grab your ADA, and get ready for the ride!

憑藉穩定幣、創新項目和多元化生態系統的強勁增長，卡爾達諾正在證明自己是 DeFi 領域的有力競爭者。現在是觀看（並參與！）Cardano DeFi 演變的激動人心的時刻。因此，係好安全帶，帶上 ADA，準備好上路吧！