Pendle的承重穩定蛋白飆升至$ 11B流通，捕獲了4.5％的市場

承重穩定的穩定量已經達到110億美元的流通，佔穩定市場總市場的4.5％。 Pendle Labs。

Yield-bearing stablecoins have quickly become a hot topic in 2024, surging to $11 billion in circulation, which accounts for 4.5% of the total stablecoin market. This represents a steep climb from just $1.5 billion and a 1% market share at the start of the year.

承擔屈服的穩定蛋白在2024年迅速成為一個熱門話題，飆升至110億美元，佔穩定市場總市場的4.5％。這是從15億美元的急劇攀升，在年初的市場份額為1％。

As one of the biggest winners of this trend, Pendle, a decentralized protocol that enables users to lock in fixed yields or speculate on variable interest rates, now accounts for 30% of all yield-bearing stablecoin total value locked (TVL), roughly $3 billion, the firm said in a report shared with Cointelegraph.

作為這一趨勢中最大的贏家之一，Pendle是一種分散的協議，使用戶能夠鎖定固定的收益率或推測可變利率，現在佔所有承重穩定的stablecoin總價值鎖定（TVL）的30％，約有30億美元，該公司在與Cointelegraph的一份報告中表示。

According to the report, stablecoins make up 83% of Pendle’s $4 billion total value locked, showcasing a significant shift from less than 20% in the prior year. In contrast, assets like Ether (ETH), which historically contributed 80%–90% of Pendle’s TVL, have shrunk to less than 10%.

根據該報告，Stablecoins佔Pendle 40億美元鎖定的40億美元的83％，從上一年不到20％的人展示了重大轉變。相比之下，諸如Ether（ETH）之類的資產在歷史上佔Pendle TVL的80％–90％的資產已縮減到不到10％。

Traditional stablecoins like Tether’s USDt (USDT) and Circle’s USDC (USDC) do not pass on interest to holders. With over $200 billion in circulation and the US Federal Reserve interest rate at 4.3%, Pendle estimates that stablecoin holders are missing out on more than $9 billion in annual yield.

諸如Tether的USDT（USDT）和Circle的USDC（USDC）等傳統穩定幣並未將持有人的興趣轉移給持有人。 Pendle估計，有超過2000億美元的發行量和美國美聯儲的利率為4.3％，據估計，Stablecoin持有人的年收益率超過90億美元。

Growing regulatory clarity benefits stablecoins

越來越多的法規清晰度益處穩定的穩定性

The rise in yield-bearing stablecoins comes amid increasing regulatory clarity in the crypto sector.

在加密部門的調節性清晰度越來越明顯的情況下，承重穩定的穩定蛋白的增加。

In February, the US Securities and Exchange Commission approved yield-bearing stablecoins as “certificates” subject to securities regulation, rather than banning them. The approval allows yield-bearing stablecoins to operate under specific rules, including registration, disclosure requirements and investor protections.

2月，美國證券和交易委員會批准承擔債務的穩定股份為“證書”，但不要禁止它們。該批准允許承擔屈服的穩定劑在特定規則（包括註冊，披露要求和投資者保護）下運行。

Proposed bills like the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) and the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) aim to create a comprehensive regulatory framework for stablecoins, focusing on transparency, risk management and consumer protection. These initiatives signal a favorable direction for the future of yield-bearing stablecoins.

提出的法案，例如穩定的透明度和對更好的分類帳經濟（穩定）以及為美國Stablecoins（GENIUS）的指導和建立國家創新的責任，旨在為穩定的穩定框架創建全面的監管框架，重點關注透明度，風險管理和消費者保護。這些舉措向承受屈服的穩定劑的未來提供了有利的方向。

According to Pendle, it expects stablecoin issuance to double to $500 billion in the next 18 to 24 months. The firm anticipates yield-bearing stablecoins to capture 15% of this market with $75 billion in issuance (7x growth from $11 billion).

根據Pendle的說法，它預計在未來18至24個月內，Stablecoin發行將翻一番，達到5000億美元。該公司預計，承重的穩定者將以750億美元的發行（從110億美元增長7倍）來捕獲該市場的15％。

Pendle shifts focus to yield market

Pendle轉移重點以產生市場

Initially focused on airdrop farming, Pendle has shifted toward serving as an infrastructure layer for decentralized finance yield markets.

彭德爾（Pendle）最初專注於空投農業，轉向了作為分散金融收益率市場的基礎設施層。

Ethena’s USDe stablecoin currently accounts for about 75% of Pendle’s stablecoin TVL. However, newer entrants like Open Eden, Reserve and Falcon have increased the share of non-USDe assets from 1% to 26% over the past year.

Ethena的USDE Stablecoin目前約佔Pendle Stablecoin TVL的75％。但是，在過去的一年中，諸如Open Eden，Reserve和Falcon之類的新進入者將非USDE資產的份額從1％增加到26％。

Pendle is also expanding beyond Ethereum, with plans to support networks like Solana and to integrate with Aave and Ethena’s upcoming Converge blockchain.

彭德（Pendle）還在擴展以太坊（Ethereum），併計劃支持諸如Solana之類的網絡，並與AAVE和Ethena即將到來的Converge區塊鏈集成。