隨著區塊鏈技術的發展，代幣化美國公債價格突破 10 億美元

公共區塊鏈上的代幣化美國公債規模超過 10 億美元，凸顯了傳統金融中區塊鏈技術的採用日益廣泛。投資公司富蘭克林鄧普頓（Franklin Templeton）引領該行業，佔據 33.6% 的市場份額，擁有超過 3.6 億美元的代幣化資產。恆星網路憑藉代幣化證券中最大的資產類別而脫穎而出，這表明區塊鏈作為有價值的商業工具的認可度不斷提高。

Tokenized US Treasuries Surpass $1 Billion as Blockchain Adoption Accelerates

隨著區塊鏈採用加速，美國公債代幣化規模突破 10 億美元

In a testament to the growing adoption of blockchain technology in the financial industry, the value of tokenized United States Treasuries on public blockchains has surpassed the $1 billion mark. This milestone, reached on March 28, underscores the recognition among traditional financial institutions that tokenization offers significant benefits.

公共區塊鏈上代幣化的美國國債價值已超過 10 億美元大關，證明了區塊鏈技術在金融業的應用日益廣泛。這一里程碑於 3 月 28 日實現，突顯了傳統金融機構認識到代幣化帶來的巨大好處。

Data compiled by 21.co and Dune Analytics reveals that 17 tokenized government security products currently hold over $1 billion in assets. Notably, Ethereum, Polygon, and Stellar networks account for the majority of these assets.

21.co 和 Dune Analytics 彙編的數據顯示，17 種代幣化政府安全產品目前持有超過 10 億美元的資產。值得注意的是，以太坊、Polygon 和 Stellar 網路佔據了這些資產的大部分。

"The surge in tokenized treasuries on public blockchains like Stellar stems from a growing realization among asset issuers that blockchain technology makes sound business sense," emphasizes Paul Wong, director of product, CBDCs and institutions at the Stellar Foundation. "Blockchain is integral to the future, and we anticipate exponential growth in tokenization over the coming years."

Stellar 基金會產品、CBDC 和機構總監Paul Wong 強調：「像Stellar 這樣的公共區塊鏈上的代幣化國債激增，源自於資產發行人越來越意識到區塊鏈技術具有良好的商業意義。” “區塊鏈是未來不可或缺的一部分，我們預計未來幾年代幣化將呈指數級增長。”

Among the companies actively tokenizing assets is investment firm Franklin Templeton. Its Franklin OnChain U.S. Government Money Fund, launched in 2021 and based on the Polygon and Stellar blockchains, boasts over $360.1 million in assets and holds a 33.6% market share.

積極將資產代幣化的公司之一是投資公司富蘭克林鄧普頓。其富蘭克林OnChain美國政府貨幣基金於2021年推出，基於Polygon和Stellar區塊鏈，擁有超過3.601億美元的資產，佔33.6%的市場份額。

Within the Stellar network, tokenized securities represent the largest asset class, with a total market capitalization exceeding $430 million as of late March. This significant presence further underscores the potential for tokenization in the financial sector.

在 Stellar 網路中，代幣化證券是最大的資產類別，截至 3 月底總市值超過 4.3 億美元。這一重要存在進一步凸顯了金融領域代幣化的潛力。

Other Key Developments in the Crypto Biz Landscape

加密貨幣商業領域的其他關鍵發展

Beyond the rise of tokenized markets, this week's Crypto Biz explores a range of notable developments in the blockchain and cryptocurrency ecosystem:

除了代幣化市場的興起之外，本週的 Crypto Biz 還探討了區塊鏈和加密貨幣生態系統中的一系列值得注意的發展：

SEC Delays Decision on Spot Bitcoin ETF Options Trading

美國證券交易委員會 (SEC) 推遲對比特幣 ETF 現貨選擇權交易做出決定

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on whether to allow the New York Stock Exchange (NYSE) to offer options trading on spot Bitcoin (BTC) exchange-traded funds (ETFs). This delay impacts options trading on the Bitwise Bitcoin ETF, the Grayscale Bitcoin Trust, and any other trust that holds Bitcoin on the NYSE. The SEC reached a similar conclusion for Nasdaq in March, which had also requested options trading on BlackRock's iShares Bitcoin Trust. The SEC's next deadline to approve, deny, or further delay the proposed rule change on the NYSE is May 29.

美國證券交易委員會 (SEC) 推遲了是否允許紐約證券交易所 (NYSE) 提供現貨比特幣 (BTC) 交易所交易基金 (ETF) 選擇權交易的決定。這一延遲影響了 Bitwise 比特幣 ETF、灰階比特幣信託以及在紐約證券交易所持有比特幣的任何其他信託的選擇交易。 3 月份，美國證券交易委員會 (SEC) 對納斯達克得出了類似的結論，該交易所也要求在貝萊德 (BlackRock) 的 iShares Bitcoin Trust 上進行期權交易。 SEC 批准、拒絕或進一步推遲 NYSE 擬議規則變更的下一個截止日期是 5 月 29 日。

PayPal Stablecoin Circulation Declines Significantly

PayPal 穩定幣流通量大幅下降

The circulation of PayPal USD (PYUSD), a stablecoin issued by PayPal and Paxos, dropped by 39% in March, totaling $188.5 million. This represents a significant decline from the $304 million and $301 million in circulation observed in February and January, respectively. Despite experiencing rapid growth in early 2024, PYUSD has since faced a decline in circulation and market capitalization.

PayPal 和 Paxos 發行的穩定幣 PayPal USD (PYUSD) 3 月的流通量下降了 39%，總計 1.885 億美元。這與 2 月和 1 月分別觀察到的 3.04 億美元和 3.01 億美元的流通量相比大幅下降。儘管在 2024 年初經歷了快速成長，但 PYUSD 此後面臨流通量和市值的下降。

SushiSwap DAO Backs Transition to "Labs Model"

SushiSwap DAO 支援向「實驗室模式」過渡

Over 62% of voters in a SushiSwap signal vote supported a move towards a less decentralized "Labs model." The proposal, introduced in March, outlines the creation of Sushi Labs, an autonomous entity responsible for managing the Sushi ecosystem's administrative, technical, and operational aspects. Tokenholders would continue to decide on treasury allocations but would no longer participate in operational decisions. Under this model, Sushi Labs would receive 25 million SushiSwap (SUSHI) tokens and future airdrops from its affiliated protocols and partners.

在 SushiSwap 訊號投票中，超過 62% 的選民支持轉向去中心化程度較低的「實驗室模式」。該提案於三月提出，概述了 Sushi Labs 的創建，這是一個負責管理 Sushi 生態系統的行政、技術和營運方面的自治實體。代幣持有者將繼續決定財務分配，但不再參與營運決策。在這種模式下，Sushi Labs 將從其附屬協議和合作夥伴處獲得 2500 萬個 SushiSwap (SUSHI) 代幣以及未來的空投。

Paradigm Leads $225 Million Funding Round for Solana Competitor

Paradigm 領投 Solana 競爭對手 2.25 億美元融資

Crypto-focused venture capital firm Paradigm led a $225 million funding round into Monad Labs, a new layer-1 blockchain network designed to rival Solana and other top networks. Monad Labs aims to build a new layer-1 smart contract network with faster speed and lower costs than Ethereum. The new L1 will be fully compatible with the Ethereum Virtual Machine and capable of processing up to 10,000 transactions per second.

專注於加密貨幣的創投公司 Paradigm 領投了 Monad Labs 一輪 2.25 億美元的融資，Monad Labs 是一個新的第一層區塊鏈網絡，旨在與 Solana 和其他頂級網路競爭。 Monad Labs 旨在建立一個比以太坊更快、成本更低的全新 Layer-1 智慧合約網路。新的L1將與以太坊虛擬機完全相容，每秒能夠處理多達10,000筆交易。

Smart Contracts: A Double-Edged Sword

智能合約：一把雙面刃

Coin Center's Peter Van Valkenburgh highlights the potential risks associated with smart contracts that can be turned on and off by a multisig mechanism or governance vote. While offering flexibility, this approach could also lead to unpredictable behavior and potential manipulation, emphasizing the need for careful consideration in the design and implementation of such smart contracts.

Coin Center 的 Peter Van Valkenburgh 強調了與可以透過多重簽名機製或治理投票開啟和關閉的智慧合約相關的潛在風險。在提供靈活性的同時，這種方法也可能導致不可預測的行為和潛在的操縱，強調在設計和實施此類智能合約時需要仔細考慮。