加密的炒作供應：削減代幣以獲得更明亮的未來？

Hyperliquid的炒作令牌面臨潛在的供應量。削減答案以提高投資者的信心還是冒險的舉動？

The crypto world never sleeps, and neither do its tokenomics. Right now, all eyes are on Hyperliquid's HYPE token, with a hot debate brewing around a proposal to slash its total supply. Let's dive into what's going on.

加密世界永遠不會睡覺，也不會有它的令牌學。目前，所有人的目光都集中在超級流動的炒作令牌上，圍繞著一項削減其總供應的提議進行了熱烈的辯論。讓我們深入了解正在發生的事情。

The HYPE About HYPE: A Potential Supply Cut

關於炒作的炒作：潛在的供應減少

DBA Asset Management, a crypto asset management firm with a significant HYPE stake, has proposed cutting the token's total supply by a whopping 45%. The goal? To make HYPE's tokenomics more appealing to investors. The proposal suggests revoking authorization for unminted HYPE tokens, burning tokens in Hyperliquid's Assistance Fund, and removing the 1 billion supply cap.

DBA資產管理公司是一家具有大量炒作股份的加密資產管理公司，已提議將令牌的總供應量減少45％。目標？使Hype的標記學對投資者更具吸引力。該提案建議撤銷無明顯炒作令牌的授權，在超流動援助基金中燃燒令牌以及刪除10億個供應上限。

Why Slash the Supply? The Argument for Token Burning

為什麼要削減供應？令牌燃燒的論點

Jon Charbonneau from DBA argues that the market is undervaluing HYPE due to the fully diluted valuation, which includes unissued tokens. He believes this excess supply penalizes the protocol's valuation and could bias future capital allocation decisions. Slashing the supply, he contends, would make HYPE more attractive to both investors and stakers.

來自DBA的喬恩·夏邦諾（Jon Charbonneau）認為，由於完全稀釋的估值，該市場正在低估炒作，其中包括未發行的令牌。他認為，這種過剩的供應會懲罰該協議的估值，並可能偏向未來的資本分配決策。他認為，削減供應將使炒作對投資者和斯塔克人都更具吸引力。

Not Everyone's on Board: The Pushback

並非每個人都在船上：回擊

Of course, not everyone agrees. Crypto pundit Mister Todd calls the proposal "absolutely foolish," arguing that future emissions are a crucial growth tool. Others suggest keeping tokens in reserve for potential fines or sanctions. Charbonneau counters that the proposal simply changes the accounting, not necessarily reducing the HYPE available in such scenarios.

當然，並不是每個人都同意。加密專家托德先生稱該提案為“絕對愚蠢”，認為未來的排放是一種至關重要的增長工具。其他人建議將令牌保留在潛在的罰款或製裁中。 Charbonneau反駁說，該提案只是改變了會計，不一定會減少這種情況下的炒作。

HYPE's Price Swings: A Wild Ride

炒作的價格波動：狂野的旅程

HYPE recently hit an all-time high of $59.30 before cooling off, dropping over 22% to $46.08. This volatility came as Arthur Hayes' Maelstrom Fund reportedly offloaded its entire HYPE holdings, anticipating selling pressure from upcoming token unlocks.

Hype最近在冷卻之前達到了59.30美元的歷史最高點，下降到22％以上，至46.08美元。據報導，亞瑟·海斯（Arthur Hayes）的漩渦基金（Maelstrom Fund）將其全部炒作持有，預計即將到來的代幣解鎖會給銷售壓力帶來壓力，這種波動率就出現了。

My Two Satoshis: Is Slashing the Right Move?

我的兩個satoshis：削減正確的舉動嗎？

While slashing the supply could address concerns about overvaluation, it's a double-edged sword. Reducing the available tokens could indeed create scarcity and drive up the price, attracting new investors. However, it also limits the protocol's ability to incentivize growth and adapt to future challenges. Transparency and community consensus are key here. If the Hyperliquid community believes in the long-term benefits of a reduced supply, it could be a worthwhile gamble.

在削減供應可能會解決對高估的擔憂，這是一把雙刃劍。減少可用的代幣確實可以造成稀缺性並提高價格，從而吸引新的投資者。但是，這也限制了該協議激勵增長和適應未來挑戰的能力。透明度和社區共識是這裡的關鍵。如果超流動社區相信供應減少的長期收益，那可能是值得的賭博。

The Bottom Line

底線

The debate around HYPE's supply highlights the ongoing evolution of crypto tokenomics. Whether slashing is the right approach remains to be seen, but it's a conversation worth having. One thing's for sure: the crypto market is never boring. So, grab your popcorn and get ready for the next act! This situation is a reminder that the crypto space is still in its early days, and we're all just trying to figure it out as we go along. Let's keep learning, keep questioning, and keep HYPE-ing each other up (responsibly, of course!).

關於HYPE的供應的辯論突出了加密代幣學的持續發展。削減是否是正確的方法還有待觀察，但這是值得的對話。可以肯定的是：加密市場永遠不會無聊。因此，抓住您的爆米花並為下一個演出做準備！這種情況提醒人們，加密貨幣空間仍在其早期，我們都只是在努力弄清楚它。讓我們繼續學習，繼續詢問，並繼續互相炒作（當然是負責任的！）。