3 個 DeFi 協議將受益於貝萊德的新宣傳

貝萊德正在投資 DeFi。我們看到了 Ondo 發生的事情，而 Blackrock 表示正在投資 Ondo 和 RWA 平台。

Blackrock is now investing in DeFi. We saw what happened to Ondo while Blackrock said it was investing in it and RWA platforms, in general.

貝萊德現在正在投資 DeFi。我們看到了 Ondo 發生的事情，而 Blackrock 表示正在投資 Ondo 和 RWA 平台。

Ondo is up 25% in the last 3 months. 3 months that have been dismal for alts. And Blackrock is doing it again. This time in DeFi. So which DeFi protocols will follow Ondo and buck the general market trend thanks to the new publicity from Blackrock? Stay tuned and we’ll show you 3 from this crypto sector to benefit from this news.

Ondo 在過去 3 個月內上漲了 25%。對於替代品來說這三個月是慘淡的。貝萊德又在這麼做了。這次是在 DeFi 領域。那麼，在貝萊德的新宣傳下，哪些 DeFi 協議將跟隨 Ondo 並逆勢而行？請繼續關注，我們將向您展示該加密貨幣領域的 3 個受益者。

1) Frax

1) 弗拉克斯

Thanks to exposure from BlackRock, many see DeFi making a comeback very soon. DeFi, like all financial platforms, needs a lot of money and scale to be successful. That’s because margins are small in this type of finance. For an institution to make more than 1 or 2% on a multi-million dollar transaction is rare.

由於貝萊德的曝光，許多人認為 DeFi 很快就會捲土重來。與所有金融平台一樣，DeFi 需要大量資金和規模才能取得成功。這是因為此類金融的利潤很小。對於一家機構來說，在數百萬美元的交易中賺取超過 1% 或 2% 的利潤是罕見的。

So with that in mind, let’s jump into one area we expect to grow. Staking and Restaking. Lido is by far the biggest player here. They continue to be around 30% of the total market for staked Ethereum. And they are the leader in liquid staking options. But they are not the only player here.

因此，考慮到這一點，讓我們進入我們期望成長的一個領域。質押和重新質押。麗都是迄今為止最大的參與者。它們仍然佔質押以太坊總市場的 30% 左右。他們是流動質押選項的領導者。但他們並不是這裡唯一的玩家。

One further down the table that we also like is Frax. They are currently #23 at 0.48% of the market. And that sounds small. But that number means they are staking almost $490 million of ETH on their platform. They started liquid staking much later than Lido, Binance, and Coinbase. Those are the 3 leaders. Frax has its liquid staking coin, frxETH. Frax also has a crypto-collateralized stablecoin. We like this a lot and think we will need stablecoin options outside of Circle and Tether.

我們也喜歡表格的另一端是 Frax。目前，它們排名第 23 位，佔據 0.48% 的市場。這聽起來很小。但這個數字意味著他們在自己的平台上押注了近 4.9 億美元的 ETH。他們開始流動性質押比 Lido、Binance 和 Coinbase 晚得多。這是三位領導人。 Frax 有其流動性質押代幣 frxETH。 Frax 還擁有加密貨幣抵押的穩定幣。我們非常喜歡這一點，並認為我們需要 Circle 和 Tether 以外的穩定幣選擇。

So, to be clear, the coin we are recommending from growth in DeFi is FXS (FraxShares). The last 3 months have been particularly unkind to FXS, as is true with most alts. In the last 90 days, FXS has lost half its value dropping from $5.10 down to $2.50. Circulating supply is 80.5 million out of just under 99 million total. Its market value is just under $200 million.

因此，需要明確的是，我們從 DeFi 的成長中推薦的代幣是 FXS（FraxShares）。過去 3 個月對 FXS 來說尤其不利，大多數山寨幣也是如此。在過去 90 天裡，FXS 的價值已經縮水一半，從 5.10 美元跌至 2.50 美元。總流通量接近 9,900 萬枚，其中流通量為 8,050 萬枚。其市值略低於2億美元。

Almost $13 million is part of the collateralization of the FRAX stablecoin. So that allocated FXS is not going anywhere. Also, as counter-intuitive as it sounds, we think even though the ETH ETF will NOT allow the funds to stake or restake, liquid staking markets will continue to grow. Maybe the ETF gives new awareness to new groups to try crypto as an investment, too. That would lead to new liquid staking growth as well. Here is an example:

FRAX 穩定幣的抵押品中有近 1,300 萬美元。因此分配的 FXS 不會消失。此外，儘管聽起來有悖常理，但我們認為，儘管 ETH ETF 不允許基金進行質押或重新質押，但流動性質押市場仍將繼續成長。也許 ETF 也讓新群體有了新的認識，試著將加密貨幣當作一種投資。這也將導致新的流動質押成長。這是一個例子：

Going even further than that, our Partner Content Lead Stu thinks that Blackrock will try to set up its validator. That and fork a version of ETH that they can more easily manipulate. This is easier to do on PoS networks. After all, if Lido or Frax can have a liquid staking version of ETH, why can’t Blackrock which is much bigger, more powerful, and more market-connected?

更進一步，我們的合作夥伴內容主管 Stu 認為 Blackrock 將嘗試建立其驗證器。並分叉出一個他們可以更容易操縱的 ETH 版本。這在 PoS 網路上更容易做到。畢竟，如果 Lido 或 Frax 可以擁有流動性質押版本的 ETH，為什麼規模更大、更強大、與市場更緊密聯繫的 Blackrock 就不能呢？

The important point here is that both the ETF and liquid staking should lead to more growth for ETH. And maybe, both things help each other grow. And if you think they will grow, then you should consider Frax’s FXS for your portfolio.

這裡重要的一點是，ETF 和流動性質押都應該會帶來 ETH 的更多成長。也許，這兩件事可以互相幫助成長。如果您認為它們會成長，那麼您應該考慮將 Frax 的 FXS 作為您的投資組合。

2) Compound (COMP)

2) 化合物 (COMP)

Now we move on to a traditional DeFi platform, Compound. Compound created the first AMMs in crypto. They are an OG. They have also collateralized over $2.2 billion across 8 EVM markets to make stablecoin borrowing easy and inexpensive. The idea here is that if Blackrock is going to invest solidly in DeFi, then DeFi infrastructure like Compound provides, will be one area that gets some of that funding.

現在我們轉向傳統的 DeFi 平台，Compound。 Compound 創建了加密領域的第一個 AMM。他們是一個 OG。他們還在 8 個 EVM 市場提供了超過 22 億美元的抵押品，使穩定幣借貸變得簡單且便宜。這裡的想法是，如果貝萊德要大力投資 DeFi，那麼像Compound 提供的 DeFi 基礎設施將成為獲得部分資金的領域。

Just like liquid staking and restaking will as we discussed with Frax moments ago. Savvy investors will also see there are some opportunities here. You can borrow inexpensively and maybe deploy the stablecoins you borrow to earn more than your interest payments. That said, it’s not efficient given the LTV (loan to value) limitations, most of which are in the 75-80% range. Like this example of borrowing USDC on Base for a net 3.8%.

就像我們之前與 Frax 討論的流動質押和重新質押一樣。精明的投資者也會看到這裡存在一些機會。您可以以低廉的成本借入資金，並且可以利用借入的穩定幣賺取比利息還多的收入。也就是說，考慮到 LTV（貸款價值比）的限制（大部分在 75-80% 範圍內），它的效率並不高。就像這個在 Base 上以淨利率 3.8% 借入 USDC 的例子一樣。

But still, if you need stablecoins for your favorite LP, you can get them at Compound while keeping your coin on deposit. We covered Compound quite a bit a couple of years ago during DeFi Summer. And they are just chugging along quietly making their platform better.

但是，如果您需要為您最喜歡的 LP 提供穩定幣，您可以在Compound 上獲得它們，同時保留您的代幣。幾年前，我們在 DeFi 夏季期間介紹了Compound。他們只是默默地讓他們的平台變得更好。

In the last year, the $COMP token is down 30%. Its market value is $350 million and it’s down almost 50% from its recent March high of $95 to $51. It

去年，$COMP 代幣下跌了 30%。其市值為 3.5 億美元，較近期 3 月高點 95 美元至 51 美元下跌了近 50%。它