Aster Dex，收入繁荣，超级流动性USDH：分散交流的新时代？

Aster Dex在每日收入中挑战了超流动性，因为Hyperliquid介绍了其本地Stablecoin USDH。这对DEX的未来意味着什么？

Aster DEX, Revenue Boom, Hyperliquid USDH: A New Era for Decentralized Exchanges?

Aster Dex，收入繁荣，超级流动性USDH：分散交流的新时代？

The decentralized exchange (DEX) landscape is heating up! Aster DEX is making waves, challenging Hyperliquid's dominance, while Hyperliquid fires back with its brand new stablecoin, USDH. Let's break down what's happening.

分散的交换（DEX）景观正在加热！ Aster Dex在浪潮，挑战了超级流动的统治地位，而超流动的燃烧则以全新的Stablecoin USDH恢复了起来。让我们分解发生的事情。

Aster DEX's Rise

Aster Dex的崛起

Recently, Aster DEX, backed by CZ, briefly surpassed Hyperliquid in daily revenue. While Hyperliquid still leads on a weekly basis, Aster's surge signals a real shift in the competitive landscape. Aster's not stopping there; they're teasing a new layer-1 network focused on privacy, aiming to balance anonymity with verifiability.

最近，由CZ支持的Aster Dex在日常收入中短暂超过了超级流动性。尽管超流动液仍会每周导致，但阿斯特的涌现标志着竞争格局的真正转变。阿斯特没有停在那里；他们正在逗弄一个专注于隐私的新层1网络，旨在平衡匿名性和可验证性。

Hyperliquid's USDH: A Stablecoin Play

Hyproliquid的USDH：Stablecoin Play

Hyperliquid isn't sitting still. They've launched USDH, their first native stablecoin, designed to bolster their ecosystem. Native Markets issues USDH, and it's already gaining traction, with over $15 million minted in a single day. What makes USDH interesting? Half of its reserve earnings go directly into Hyperliquid's Assistance Fund, benefiting users and expanding the token's adoption. The other half is used to expand USDH adoption.

杂种并没有静止。他们推出了USDH，这是他们的第一个本地Stablecoin，旨在加强其生态系统。本地市场发行了USDH，并且已经获得了吸引力，一天内铸造了超过1500万美元。是什么让USDH有趣？其储备收入的一半直接进入了Hyproliquid的援助基金，从而使用户受益并扩大了代币的采用。另一半用于扩大USDH的采用。

USDH: More Than Just a Stablecoin

USDH：不仅仅是一个稳定的

USDH is backed by cash and short-term U.S. Treasuries, adhering to the GENIUS Act standards. It’s live on HyperCore, with a USDH/USDC spot order book available. Hyperliquid has big plans for USDH, including using it as a standard quote currency and collateralizing perpetuals.

USDH遵守《天才法案》标准，获得了现金和短期美国国债的支持。它现场直播HyperCore，并提供一本USDH/USDC现货订单书。 Hyperliquid对USDH有宏伟的计划，包括将其用作标准报价货币和抵押永久性。

Native Markets Wins the Bid

本地市场赢得了竞标

Initially, Ethena Labs was in the running to issue USDH, but they've since withdrawn their bid. Native Markets now appears to be the frontrunner. The community-led process has been praised for creating a "level playing field". Polymarket traders are heavily betting on Native Markets to win the validator vote.

最初，Ethena Labs正在运行发行USDH，但是自从他们撤回了出价以来。现在，本地市场似乎是领先者。社区主导的过程因创建“公平竞争环境”而受到赞扬。多聚市场交易者正在大量押注本地市场，以赢得验证者的投票。

What Does It All Mean?

这是什么意思？

The competition between Aster DEX and Hyperliquid is driving innovation and offering users more choices. Hyperliquid's strategic launch of USDH and Aster DEX's revenue growth demonstrate a healthy competition that ultimately benefits the DeFi space. The success of USDH will serve as a crucial test for Hyperliquid's ability to maintain its position amidst rising competitors.

Aster Dex和Hyproliquid之间的竞争正在推动创新，并为用户提供更多选择。 Hyperliquid的战略推出USDH和Aster Dex的收入增长表明了一场健康的竞争，最终使Defi空间受益。 USDH的成功将成为超流动性在竞争对手上升的能力保持其位置的能力的关键测试。

Looking Ahead

展望未来

The DEX landscape is evolving rapidly. The competition between these platforms is only going to intensify, leading to even more innovation and opportunities for users. Native markets will oversee a substantial stablecoin reserve, dominated by USDC pairs, setting the stage for Hyperliquid's next growth phase. Kraken intends to list USDH alongside HYPE, potentially boosting the token's visibility and adoption.

DEX景观正在迅速发展。这些平台之间的竞争只会加剧，从而为用户提供更多的创新和机会。本地市场将监督由USDC对主导的实质性稳定储备，为Hyplliquid的下一个增长阶段奠定了基础。 Kraken打算与炒作一起列出USDH，从而有可能提高令牌的知名度和采用。

So, keep your eyes peeled! The future of decentralized exchanges is looking brighter (and more competitive) than ever. Who knows what exciting developments are just around the corner?

因此，请保持眼睛剥皮！分散交流的未来看起来比以往任何时候都更加明亮（并且更具竞争力）。谁知道哪些令人兴奋的发展即将来临？