Coinbase＆Defi Lending：具有Morpho整合的新時代？

Coinbase通過將Morpho集成為USDC貸款，從而更深入地進入DEFI，為用戶提供高達10.8％的APY。這是金融的未來嗎？

Coinbase is making waves in the DeFi space! By integrating with Morpho, they're offering users a taste of DeFi lending with potentially high yields. But what does this mean for the future of finance?

Coinbase在Defi空間中引起海浪！通過與Morpho集成，他們為用戶提供了具有潛在高收益的Defi Lending的味道。但是，這對金融的未來意味著什麼？

Coinbase Embraces DeFi with Morpho

Coinbase用morpho擁抱Defi

Coinbase has officially launched on-chain DeFi lending, teaming up with Morpho. This means Coinbase users can now earn up to 10.8% APY by lending USDC through Morpho's DeFi infrastructure, all from the familiar Coinbase app. It's like having your cake and eating it too – the ease of Coinbase with the potential rewards of DeFi.

Coinbase已正式推出了鍊式貸款，並與Morpho合作。這意味著Coinbase用戶現在可以通過Morpho的Defi基礎架構借出USDC，全部可以從熟悉的Coinbase應用程序中賺取10.8％的APY。這就像還有蛋糕也吃了一樣 - 與Defi的潛在回報相關的coinbase。

This offering is currently available in the U.S. (excluding New York), Bermuda, and select other regions. It’s a big step – Coinbase customers can participate in a fully on-chain, open lending market without leaving the platform they trust.

目前，該產品在美國（不包括紐約），百慕大和其他地區。這是一個重要的一步 - Coinbase客戶可以參與一個完全鏈的開放式貸款市場，而無需離開他們信任的平台。

The 'DeFi Mullet': Business in the Front, Party in the Back

“ defi mullet”：前面的業務，後面的聚會

Coinbase is adopting a "DeFi mullet" strategy: a user-friendly interface masking the complexities of DeFi protocols. Morpho acts as the backend engine, with user deposits becoming curated on-chain “vaults” managed by Steakhouse Financial. These vaults diversify lending and optimize returns, while borrowers (often other Coinbase customers) pay interest that goes back to USDC holders. No lockups, instant withdrawals (when liquidity allows) – it's designed to be user-friendly.

Coinbase採用“ Defi Mullet”策略：用戶友好的接口掩蓋了Defi協議的複雜性。 Morpho充當後端引擎，用戶存款將成為由Steakhouse Financial管理的鍊鍊“拱頂”。這些金庫使貸款多樣化並優化回報，而藉款人（通常是其他Coinbase客戶）向USDC持有人支付了利息。沒有鎖定，即時提款（當允許流動性時） - 它設計為用戶友好。

Coinbase CEO Brian Armstrong believes the future of finance is on-chain but accessible through trusted interfaces. This Morpho integration seems to be a realization of that vision.

Coinbase首席執行官布萊恩·阿姆斯特朗（Brian Armstrong）認為，金融的未來是鍊鍊，但可以通過可信賴的界面訪問。這種形態的整合似乎是對該願景的實現。

What Does This Mean for DeFi?

這對Defi意味著什麼？

This move by Coinbase isn't just about tech; it's a cultural shift. DeFi, once the playground of crypto experts, is going mainstream. Other institutions are also exploring DeFi, like Galaxy integrating Aave to manage cash and acquire loans. This shows that decentralized liquidity platforms are becoming important to big financial firms.

Coinbase的這一舉動不僅與技術有關。這是一種文化轉變。曾經是加密專家的操場，Defi即將成為主流。其他機構也在探索Defi，例如Galaxy集成了AAVE來管理現金並獲取貸款。這表明，分散的流動性平台對大金融公司變得重要。

With over $900 million in loans originated through Coinbase using Morpho, the protocol is solidifying its position as institutional-grade infrastructure. As the USDC market looks for low-risk opportunities, Coinbase's on-chain lending offers a new way for users to put their capital to work, skipping the hassle of DeFi wallets and complex interfaces.

該協議憑藉使用Morpho的Coinbase來啟動超過9億美元的貸款，因此鞏固了其作為機構級基礎設施的地位。當USDC市場尋求低風險的機會時，Coinbase的鏈貸款為用戶提供了一種新的方式，使他們的資金工作，跳過了Defi錢包的麻煩和復雜的界面。

A Word of Caution (and a Bit of Optimism)

一個謹慎的話（有點樂觀）

While this integration is exciting, remember that DeFi, like all things crypto, carries risks. Smart contract vulnerabilities and market volatility are always potential concerns. However, Coinbase's partnership with Morpho and its emphasis on security (through battle-tested smart contracts and third-party audits) is reassuring.

儘管這種集成令人興奮，但請記住，Defi像所有加密貨幣一樣具有風險。智能合同脆弱性和市場波動始終是潛在的問題。但是，Coinbase與Morpho的合作夥伴關係及其對安全性的重視（通過經過戰鬥的智能合約和第三方審計）令人放心。

The Future is Bright (and Maybe a Little Decentralized)

未來是光明的（也許有點分散）

Coinbase's move into DeFi lending with Morpho is a significant step towards bridging the gap between traditional finance and the decentralized world. It's like your favorite coffee shop suddenly offering a secret menu of rocket fuel – exciting, potentially lucrative, and a little bit wild. Buckle up, folks, because the future of finance might just be a whole lot more decentralized...and a whole lot more interesting!

Coinbase與Morpho一起進入Defi Lending是邁出傳統金融與分散世界之間差距的重要一步。就像您最喜歡的咖啡店突然提供了火箭燃料的秘密菜單 - 令人興奮，有利可圖，有點瘋狂。伙計們，搭扣，因為金融的未來可能會變得更加分散……而且更有趣！