EigenLayer 流出 $2.3B 訊號重新抵押產業下滑

與收益產生平台 Ethena 等平台相比，重新抵押所提供的收益相形見絀。

Ether (ETH) outflows from restaking protocols have reached $2.3 billion in the past month as the once-booming sector faces the reality of crypto investors’ fickle nature.

過去一個月，以太幣 (ETH) 從重新抵押協議中流出已達到 23 億美元，因為這個曾經繁榮的行業面臨著加密貨幣投資者反覆無常的現實。

On June 25, ether (ETH) was trading at $3,300, a touch higher than Thursday’s price of $3,200. But in that time, the total value locked (TVL) on EigenLayer – a protocol that links restaking protocols – has slid by $2.28 billion to $15.1 billion. Restaking protocols like Renzo and Kelp have lost 45% and 22% of their TVL, respectively, according to data from DefiLlama.

6 月 25 日，以太幣 (ETH) 交易價格為 3,300 美元，略高於週四的 3,200 美元。但在那段時間，EigenLayer（一種連結重質押協議的協議）上鎖定的總價值 (TVL) 已下滑 22.8 億美元，至 151 億美元。根據 DefiLlama 的數據，Renzo 和 Kelp 等重新抵押協議的 TVL 分別損失了 45% 和 22%。

Some of the outflows can be attributed to depositors looking to harvest points that will eventually be converted to airdrops, then moving on to another project to maximize returns.

部分資金外流可歸因於儲戶尋求收穫點，這些點最終將轉化為空投，然後轉向另一個專案以最大化回報。

For others, the yields are simply too low when compared with those of certain yield-generation protocols, such as Ethena. Renzo offers an annual yield of 3.43%; Ethena offers more than 10%.

對於其他人來說，與某些產量生成協議（例如 Ethena）相比，產量實在太低了。 Renzo提供的年收益率為3.43%； Ethena 報價超過 10%。

Restaking is a strategy that investors use to secure an additional yield on ETH that is already staked on the main Ethereum blockchain. Protocols like Ethena generate a yield by harvesting funding rates, which can be more volatile.

重新抵押是投資者用來確保已經抵押在以太坊主區塊鏈上的 ETH 獲得額外收益的策略。像 Ethena 這樣的協議透過獲取資金費率來產生收益，而資金費率的波動性可能更大。

One restaking project that has managed to buck the trend is ether.fi, which has seen a $100 million increase in TVL.

ether.fi 是一個逆勢而上的重新質押項目，其 TVL 增加了 1 億美元。