SpringSui：Sui 網路上的新流動性質押標準

流動性質押剛剛在 Sui Network 上得到了推動。 Suilend推出了新的流動性質押標準。它減少了 $sSUI 代幣與 $SUI 脫鉤的機會。這為 Sui DeFi 生態系統開闢了新的選擇。

Sui has been getting lots of attention recently. The $SUI token and the Sui ecosystem have been on fire. $SUI reached a new ATH during October and for the time being, $2.35 is the new standard. After the amazing rise during Suitember and October, the $SUI token was due for a good correction. However, now it’s getting attention again.

近來，隋煬帝受到了許多人的關注。 $SUI 代幣和 Sui 生態系統已經火了。 $SUI 在 10 月達到了新的 ATH，目前新標準為 2.35 美元。在 Suitember 和 10 月的驚人上漲之後，$SUI 代幣將迎來一次良好的調整。然而，現在它再次受到關注。

Suilend launched a new liquid staking standard, SpringSui, with its $sSUI token. So, we’re taking a closer look at what Suilend on the Sui Network brings to the liquid staking table.

Suilend 推出了新的流動性質押標準 SpringSui 及其 $sSUI 代幣。因此，我們正在仔細研究 Sui Network 上的 Suilend 為流動性質押平台帶來了什麼。

What Is Liquid Staking

什麼是流動質押

Regular staked assets are locked up and you can’t do anything with them except for receiving staking rewards. On the other hand, with liquid staking, once you lock your initial tokens, you receive a new token. This new token represents your initial stake. This is your LST or liquid staking token.

常規質押資產被鎖定，除了獲得質押獎勵外，您無法對其進行任何操作。另一方面，透過流動性質押，一旦您鎖定初始代幣，您就會收到一個新代幣。這個新代幣代表您的初始股份。這是您的 LST 或流動質押代幣。

Now, you can use your LST in DeFi and earn more rewards. That’s on top of your initial staking rewards. We covered liquid staking, including its risks, in various articles. You can also check a dedicated Sui blog about liquid staking.

現在，您可以在 DeFi 中使用您的 LST 並獲得更多獎勵。這是您最初的質押獎勵之外的。我們在多篇文章中介紹了流動性質押，包括其風險。您也可以查看有關流動性質押的專門 Sui 部落格。

Learn how Sui’s unique approach to liquid staking using a unified coin standard enables greater composability, which in turn helps support a strong DeFi ecosystem and provides advantages over other chains.https://t.co/3KBaLwZC2o

了解 Sui 使用統一代幣標準的獨特流動質押方法如何實現更大的可組合性，從而有助於支持強大的 DeFi 生態系統並提供優於其他鏈的優勢。

— Sui (@SuiNetwork) February 3, 2024

— 隋 (@SuiNetwork) 2024 年 2 月 3 日

What Is SpringSui by Suilend?

Suilend 的 SpringSui 是什麼？

SpringSui is a new liquid staking standard on the Sui Network. The first token built with this new standard is $sSUI. The SpringSui Standard is an open-source LST (liquid staking token) standard.

SpringSui是Sui網路上的一個新的流動性質押標準。使用此新標準構建的第一個代幣是 $sSUI。 SpringSui 標準是一個開源的 LST（流動性質押代幣）標準。

$sSUI pegs 1:1 to the $SUI token. With this new standard, it reduces the risk of de-pegging. That’s because it offers infinite liquidity through instant unstaking. As you may know, crypto always has risks. Especially DeFi carries more risks. So, reducing the de-pegging risk is a massive step forward. It makes the $sSUI token more secure than other LSTs.

$sSUI 以 1:1 的比例與 $SUI 代幣掛鉤。有了這個新標準，它降低了脫鉤的風險。這是因為它透過即時取消質押提供了無限的流動性。如您所知，加密貨幣總是存在風險。尤其是DeFi帶來的風險更大。因此，降低脫鉤風險是向前邁出的一大步。它使 $sSUI 令牌比其他 LST 更安全。

Suilend did this with the SIP-33. An SIP is a Sui Improvement Proposal. SIP-33 allows for instant redemption of LSTs for Sui. There’s no need to wait anymore for the end of a Sui epoch. Each Sui epoch lasts for around 24 hours. So, this results in a reduced de-pegging risk. Other LST tokens can depeg during market volatility or because of low liquidity. This can result in your liquidation.

Suilend 使用 SIP-33 做到了這一點。 SIP 是一項 Sui 改進提案。 SIP-33 允許立即兌換 Sui 的 LST。沒有必要再等待隋朝的結束了。每個隋紀持續約24小時。因此，這會降低脫鉤風險。其他 LST 代幣可能會在市場波動期間或由於流動性低而脫鉤。這可能會導致您的清算。

How does it work?

它是如何運作的？

When you stake SUI in a LST contract, you get a token that represents your stake. Before, these tokens could depeg during market volatility or low liquidity, causing liquidations.

當您在 LST 合約中質押 SUI 時，您會獲得代表您質押的代幣。以前，這些代幣可能會在市場波動或流動性較低時脫鉤，導致清算。

The Suilend team authored SIP-33, to fix this by allowing instant redemption of…

Suilend 團隊編寫了 SIP-33，透過允許即時贖回來解決這個問題...

— Suilend (@suilendprotocol) October 31, 2024

- Suilend (@suilendprotocol) 2024 年 10 月 31 日

An interesting stat is that on SUI, liquid-staked SUI assets only represent 1.32% of all staked SUI assets. However, on Solana and Ethereum, that’s respectively 7% and 41%. SpringSui is about to change that percentage. Within 24 hours, it had already seen $10 million in TVL. At the time of writing, it sits at $11.46 million TVL. That’s still within 24 hours. After 4 days, it’s up to $15 million TVL. See the picture below.

一個有趣的統計數據是，在 SUI 上，流動質押的 SUI 資產僅佔所有質押 SUI 資產的 1.32%。然而，在 Solana 和以太坊上，這一比例分別為 7% 和 41%。 SpringSui 即將改變這個百分比。 24 小時內，其 TVL 已達 1,000 萬美元。截至撰寫本文時，TVL 為 1,146 萬美元。這還有24小時之內。 4 天后，TVL 達到 1500 萬美元。見下圖。

The current LTV (Loan to Value) is 70%. $sSUI has an initial deposit limit of 10 million $SUI. The current $11.6 million TVL represents 6 million $SUI. So, you can still liquid-stake your $SUI on SpringSui. Below, you find out how to do this.

目前的 LTV（貸款價值比）為 70%。 $sSUI 的初始存款限額為 1000 萬美元 SUI。目前 1,160 萬美元的 TVL 相當於 600 萬美元的 SUI。因此，您仍然可以在 SpringSui 上流動性質押您的 $SUI。下面，您將了解如何執行此操作。

How Does Liquid Staking with SpringSUI Work?

SpringSUI 的流動性質押如何運作？

To start, you will need some $SUI tokens. You can buy them easily on various exchanges and DEXes. Once you have $SUI in your wallet, you can visit the SpringSui app and connect your wallet.

首先，您需要一些 $SUI 代幣。您可以在各種交易所和 DEX 上輕鬆購買它們。一旦您的錢包中有 $SUI，您就可以存取 SpringSui 應用程式並連接您的錢包。

Click on the ‘Stake’ button and deposit your $SUI tokens in the red ‘Stake’ box (marked by the red ‘A’). In the yellow box marked ‘B’, you can see the amount of $sSUI you will receive. This is a 1:1 ratio. So, if you deposited 50 $SUI, you should receive 50 $sSUI.

點擊“Stake”按鈕並將您的 $SUI 代幣存入紅色“Stake”框中（以紅色“A”標記）。在標記為「B」的黃色方塊中，您可以看到您將收到的 $sSUI 金額。這是1:1的比例。因此，如果您存入 50 $SUI，您應該會收到 50 $sSUI。

Now you can go to Suilend and deposit your $sSUI there. You start by connecting your wallet. Now you can select the $sSUI row, on top of the page (marked

現在您可以前往 Suilend 並在那裡存入您的 $sSUI。首先連接你的錢包。現在您可以選擇頁面頂部的 $sSUI 行（標記為