Coinbase＆Defi Lending：具有Morpho整合的新时代？

Coinbase通过将Morpho集成为USDC贷款，从而更深入地进入DEFI，为用户提供高达10.8％的APY。这是金融的未来吗？

Coinbase is making waves in the DeFi space! By integrating with Morpho, they're offering users a taste of DeFi lending with potentially high yields. But what does this mean for the future of finance?

Coinbase在Defi空间中引起海浪！通过与Morpho集成，他们为用户提供了具有潜在高收益的Defi Lending的味道。但是，这对金融的未来意味着什么？

Coinbase Embraces DeFi with Morpho

Coinbase用morpho拥抱Defi

Coinbase has officially launched on-chain DeFi lending, teaming up with Morpho. This means Coinbase users can now earn up to 10.8% APY by lending USDC through Morpho's DeFi infrastructure, all from the familiar Coinbase app. It's like having your cake and eating it too – the ease of Coinbase with the potential rewards of DeFi.

Coinbase已正式推出了链式贷款，并与Morpho合作。这意味着Coinbase用户现在可以通过Morpho的Defi基础架构借出USDC，全部可以从熟悉的Coinbase应用程序中赚取10.8％的APY。这就像还有蛋糕也吃了一样 - 与Defi的潜在回报相关的coinbase。

This offering is currently available in the U.S. (excluding New York), Bermuda, and select other regions. It’s a big step – Coinbase customers can participate in a fully on-chain, open lending market without leaving the platform they trust.

目前，该产品在美国（不包括纽约），百慕大和其他地区。这是一个重要的一步 - Coinbase客户可以参与一个完全链的开放式贷款市场，而无需离开他们信任的平台。

The 'DeFi Mullet': Business in the Front, Party in the Back

“ defi mullet”：前面的业务，后面的聚会

Coinbase is adopting a "DeFi mullet" strategy: a user-friendly interface masking the complexities of DeFi protocols. Morpho acts as the backend engine, with user deposits becoming curated on-chain “vaults” managed by Steakhouse Financial. These vaults diversify lending and optimize returns, while borrowers (often other Coinbase customers) pay interest that goes back to USDC holders. No lockups, instant withdrawals (when liquidity allows) – it's designed to be user-friendly.

Coinbase采用“ Defi Mullet”策略：用户友好的接口掩盖了Defi协议的复杂性。 Morpho充当后端引擎，用户存款将成为由Steakhouse Financial管理的链链“拱顶”。这些金库使贷款多样化并优化回报，而借款人（通常是其他Coinbase客户）向USDC持有人支付了利息。没有锁定，即时提款（当允许流动性时） - 它设计为用户友好。

Coinbase CEO Brian Armstrong believes the future of finance is on-chain but accessible through trusted interfaces. This Morpho integration seems to be a realization of that vision.

Coinbase首席执行官布莱恩·阿姆斯特朗（Brian Armstrong）认为，金融的未来是链链，但可以通过可信赖的界面访问。这种形态的整合似乎是对该愿景的实现。

What Does This Mean for DeFi?

这对Defi意味着什么？

This move by Coinbase isn't just about tech; it's a cultural shift. DeFi, once the playground of crypto experts, is going mainstream. Other institutions are also exploring DeFi, like Galaxy integrating Aave to manage cash and acquire loans. This shows that decentralized liquidity platforms are becoming important to big financial firms.

Coinbase的这一举动不仅与技术有关。这是一种文化转变。曾经是加密专家的操场，Defi即将成为主流。其他机构也在探索Defi，例如Galaxy集成了AAVE来管理现金并获取贷款。这表明，分散的流动性平台对大金融公司变得重要。

With over $900 million in loans originated through Coinbase using Morpho, the protocol is solidifying its position as institutional-grade infrastructure. As the USDC market looks for low-risk opportunities, Coinbase's on-chain lending offers a new way for users to put their capital to work, skipping the hassle of DeFi wallets and complex interfaces.

该协议凭借使用Morpho的Coinbase来启动超过9亿美元的贷款，因此巩固了其作为机构级基础设施的地位。当USDC市场寻求低风险的机会时，Coinbase的链贷款为用户提供了一种新的方式，使他们的资金工作，跳过了Defi钱包的麻烦和复杂的界面。

A Word of Caution (and a Bit of Optimism)

一个谨慎的话（有点乐观）

While this integration is exciting, remember that DeFi, like all things crypto, carries risks. Smart contract vulnerabilities and market volatility are always potential concerns. However, Coinbase's partnership with Morpho and its emphasis on security (through battle-tested smart contracts and third-party audits) is reassuring.

尽管这种集成令人兴奋，但请记住，Defi像所有加密货币一样具有风险。智能合同脆弱性和市场波动始终是潜在的问题。但是，Coinbase与Morpho的合作伙伴关系及其对安全性的重视（通过经过战斗的智能合约和第三方审计）令人放心。

The Future is Bright (and Maybe a Little Decentralized)

未来是光明的（也许有点分散）

Coinbase's move into DeFi lending with Morpho is a significant step towards bridging the gap between traditional finance and the decentralized world. It's like your favorite coffee shop suddenly offering a secret menu of rocket fuel – exciting, potentially lucrative, and a little bit wild. Buckle up, folks, because the future of finance might just be a whole lot more decentralized...and a whole lot more interesting!

Coinbase与Morpho一起进入Defi Lending是迈出传统金融与分散世界之间差距的重要一步。就像您最喜欢的咖啡店突然提供了火箭燃料的秘密菜单 - 令人兴奋，有利可图，有点疯狂。伙计们，搭扣，因为金融的未来可能会变得更加分散……而且更有趣！