超流動性，USDH和Aster：一次性拔河器

Hyperliquid的USDH發布會面臨著Aster的激烈競爭。本文深入研究了這些平台的動態。

Hyperliquid's recent stablecoin launch, USDH, marks a significant move amid fierce competition. Aster, backed by CZ, is nipping at its heels, creating a dynamic landscape in the DeFi space. Let's dive in!

Hyperliquid最近發射的Stablecoin發射USDH標誌著激烈的競爭，這是一個重大舉動。由CZ支持的Aster正在彎腰，在Defi空間中創造了動態的景觀。讓我們潛入！

USDH: Hyperliquid's Stablecoin Play

USDH：超級流動性的穩定遊戲

Native Markets has officially launched USDH, Hyperliquid's very own stablecoin. It's designed to bolster the exchange's ecosystem by offering a stable trading option. Paired against HYPE (Hyperliquid’s governance token) and USDC, USDH aims to provide traders with more flexibility.

本地市場已正式推出了超級流動器自己的Stablecoin USDH。它旨在通過提供穩定的交易選項來增強交易所的生態系統。與Hype（Hyperliquid的治理令牌）和USDC配對，USDH的目的是為交易者提供更大的靈活性。

To solidify the launch, the team locked 200,000 HYPE tokens for three years. Moreover, $15 million worth of USDH was pre-minted, backed by a mix of cash and U.S. Treasuries. The returns from these reserves will even fund regular HYPE buybacks. Sounds like a solid plan, right?

為了鞏固發布，團隊將200,000個炒作令牌鎖定了三年。此外，預先建立了價值1500萬美元的USDH，並以現金和美國國債的混合支持。這些儲備金的回報甚至將資助常規的炒作回購。聽起來像是一個紮實的計劃，對嗎？

Aster's Rise: A Threat to Hyperliquid?

Aster的崛起：對超流動的威脅？

While Hyperliquid is making moves with USDH, Aster, backed by Binance founder Changpeng Zhao's family office, has been gaining traction. Aster even surpassed Hyperliquid in weekly trading volume, doubling its numbers at one point. However, Hyperliquid still holds the edge on a 30-day basis.

雖然Hyperliquid正在使用USDH進行動作，但在Binance創始人Changpeng Zhao的家族辦公室的支持下，Aster一直受到關注。 Aster甚至超過了每週交易量的超流動量，在某一時刻將其數字翻了一番。但是，超流體仍然在30天的基礎上保持邊緣。

Aster's rise is further fueled by PancakeSwap's new cross-chain swaps on Solana, giving it an edge in cross-chain functionality. This increased competition is pushing DEXs to innovate and integrate with other blockchain networks.

Pancakeswap在Solana上的新跨鏈掉期進一步推動了Aster's Rise，從而使其在跨鏈功能方面具有優勢。這種增加的競爭正在推動DEX進行創新並與其他區塊鍊網絡集成。

HYPE Token Unlock: A Potential Headwind

炒作令牌解鎖：潛在的逆風

Adding to the mix, Hyperliquid faces a massive $12 billion HYPE token unlock starting in November. Nearly 238 million HYPE tokens will be gradually unlocked over two years. With HYPE already down more than 20% in the past week, the market is bracing for potential turbulence. The daily chart showed clear signs of weakness, with bearish momentum indicated by the RSI and MACD.

從11月開始，Hyplliquid添加了混合物，面臨著大量120億美元的炒作令牌解鎖。將近2.38億個炒作令牌將在兩年內逐漸解鎖。在過去一周中，由於炒作已經下降了20％以上，因此市場正在為潛在的動盪而主持。每日圖表顯示出明顯的弱點跡象，而RSI和MACD表示看跌動量。

Aster's XPL Incident: A Lesson in Configuration

Aster的XPL事件：配置課程

Aster recently faced a challenge when a price glitch in its XPL perpetual contract caused mass liquidations. The contract's mark price briefly decoupled, jumping from $1.30 to nearly $4 while remaining stable elsewhere. Turns out, a faulty index and price cap settings were to blame.

當XPL永久合同中的價格故障引起大規模清算時，Aster最近面臨著挑戰​​。合同的商標價格短暫地分解了，從1.30美元上升到近4美元，而在其他地方保持穩定。事實證明，應歸咎於指數錯誤和價格上限設置。

To their credit, Aster moved quickly to reimburse affected users, paying refunds in USDT and covering trading and liquidation fees. While some traders praised the swift action, the incident serves as a reminder that even small configuration errors can have significant financial consequences.

值得讚揚的是，阿特（Aster）迅速採取行動償還影響用戶，向USDT支付退款並支付交易和清算費。儘管一些交易者稱讚迅速的行動，但該事件提醒您即使是小型配置錯誤也可能產生重大的財務後果。

My Take: Innovation and Vigilance are Key

我的看法：創新和警惕是關鍵

Hyperliquid's USDH launch is a smart move to strengthen its ecosystem, but the competition from Aster is real. The upcoming HYPE token unlock adds another layer of complexity. In my opinion, Hyperliquid needs to continue innovating and integrating USDH into its spot market and perpetual order books to maintain its position.

Hyperliquid的USDH發射是加強其生態系統的明智之舉，但是Aster的競爭是真實的。即將到來的炒作令牌解鎖增加了另一層複雜性。我認為，超流動性需要繼續創新並將USDH整合到現貨市場和永久訂單書籍中，以保持其位置。

Aster's XPL incident, while unfortunate, highlights the importance of rigorous testing and pre-launch checks. Both centralized and decentralized platforms must remain vigilant to prevent such mishaps.

Aster的XPL事件雖然不幸，但突出了嚴格的測試和發布前檢查的重要性。集中和分散的平台必須保持警惕，以防止這種不幸。

Looking Ahead

展望未來

The DeFi space is heating up, with Hyperliquid and Aster vying for dominance. It's a classic tale of innovation, competition, and the occasional hiccup. Buckle up, folks, because this is one ride you won't want to miss!

Defi空間正在加熱，並且超流動和翠綠爭奪優勢。這是一個經典的創新，競爭和偶爾打ic的故事。伙計們，搭扣，因為這是您不想錯過的一次旅行！