Sonic的TVL大幅投入：象徵性的低迷和跌落價值 - 有什麼問題？

Sonic的TVL引起了鼻子，引起了人們的關注。我們分解了象徵性的低迷，價值下降的價值以及對區塊鏈的未來意味著什麼。

Sonic's TVL Plunge: Token Slump and Plummeting Value – What's the Deal?

Sonic的TVL大幅投入：象徵性的低迷和跌落價值 - 有什麼問題？

Sonic, formerly known as Fantom, is facing a rough patch. Its TVL has plummeted, raising eyebrows about its growth strategy. Let's dive into the details of Sonic's situation.

Sonic，以前稱為Fantom，正面臨一個粗糙的斑點。它的TVL暴跌，引起了人們對其增長策略的關注。讓我們深入了解Sonic情況的細節。

The TVL Tumble: A Deep Dive

TVL翻滾：深入潛水

Sonic's Total Value Locked (TVL) has experienced a dramatic drop, falling from $1.1 billion in May to a mere $367 million. This 67% decline raises serious questions about the blockchain's sustainability. The end of a 5-year deal with market maker Wintermute seems to have played a significant role.

Sonic的總價值鎖定（TVL）經歷了巨大的下降，從5月的11億美元下降到僅3.67億美元。這67％的下降引發了有關區塊鏈可持續性的嚴重問題。與市政公司的5年交易結束似乎已經發揮了重要作用。

Sonic CEO Michael Kong acknowledges TVL's importance but suggests it doesn't tell the whole story. He maintains the goal is to reach Fantom's previous TVL peak. The plan includes creating a U.S. ETF and a Nasdaq digital asset treasury via Sonic USA, funded by $150 million in S tokens.

索尼克首席執行官邁克爾·孔（Michael Kong）承認TVL的重要性，但表明這並不能說明整個故事。他堅持的目標是達到Fantom以前的TVL峰。該計劃包括通過Sonic USA創建美國ETF和NASDAQ數字資產財政部，由1.5億美元的s代幣資助。

The Market Maker Dilemma

做市商的困境

Incyt CEO Mike Maloney points out that relying on market makers is a double-edged sword. While they boost volume and tighten spreads, they also capture fees and can leave a void when their term ends. Sonic faces a choice: stick with market makers or build a truly decentralized ecosystem.

Incyt首席執行官Mike Maloney指出，依靠做市商是一把雙刃劍。當它們增加體積和收緊差異時，他們也會捕獲費用，並且在學期結束時可能會留下空白。 Sonic面臨選擇：堅持做市商或建立真正的分散生態系統。

The Yield-Seeking Mercenaries

尋求屈服的僱傭軍

Glider CEO Brian Huang highlights the pitfalls of relying on yield-driven capital. Incentives attract users, but when those incentives disappear, so does the TVL. Sonic's native token, $S, has also suffered, dropping approximately 69% from its launch price. As the price of $S falls, the incentives become less appealing, creating a downward spiral.

Glider首席執行官Brian Huang強調了依靠產量驅動的資本的陷阱。激勵措施吸引用戶，但是當這些激勵措施消失時，TVL也會消失。 Sonic的本地令牌（$ s）也遭受了苦難，比其發行價格下降了約69％。隨著$ s的價格下跌，激勵措施變得越來越吸引人，從而造成了下降的螺旋式。

Huang emphasizes that TVL is only useful with borrowers generating yield for lenders. Sonic needs to stimulate borrowing, not just rely on temporary incentives.

黃強調，TVL僅對借款人產生貸方產量有用。 Sonic需要刺激借貸，而不僅僅是依靠臨時激勵措施。

So, What's the Verdict?

那麼，判決是什麼？

Sonic finds itself at a critical juncture. The steep decline in TVL and the token's struggles point to the challenges of maintaining growth after incentive programs end. The blockchain needs to find a way to attract and retain users organically, rather than relying on short-term boosts.

Sonic發現自己處於關鍵時刻。 TVL的急劇下降和代幣的鬥爭表明，激勵計劃結束後保持增長的挑戰。區塊鏈需要找到一種有機吸引和留住用戶的方法，而不是依靠短期提升。

Sonic's plans for a U.S. ETF and a digital asset treasury are ambitious, but the focus should be on building a sustainable ecosystem with genuine utility. Only time will tell if Sonic can navigate these challenges and achieve its goals.

Sonic的美國ETF和數字資產財政部的計劃是雄心勃勃的，但重點應該放在建立具有真正實用程序的可持續生態系統上。只有時間才能確定Sonic是否可以應對這些挑戰並實現其目標。

In the meantime, keep an eye on this space – it's gonna be a wild ride! Will Sonic bounce back, or will it fade into the blockchain ether? Only time will tell, but one thing's for sure: the crypto world never sleeps!

同時，請密切關注這個空間 - 這將是一次瘋狂的旅程！聲音會反彈，還是會淡入區塊鏈以太？只有時間可以說，但是一件事是可以肯定的：加密世界永遠不會睡覺！