DeFi 协议现在赚取的费用比其基础层网络更多

在这一日益增长的趋势中，一些去中心化协议现在赚取的费用比其基础层网络还要多。

DeFi protocols are now generating more in fees than their base layer networks in a growing trend.

目前，DeFi 协议产生的费用比其基础层网络还要多，而且呈不断增长的趋势。

According to Ethan Francis, head of protocol relations at Web3 infrastructure provider Particle Network, fees generated by decentralized finance (DeFi) projects will continue to grow in the next six to 12 months as a result of “chain abstraction,” in which end users conducting onchain transactions are not going to know which chains they are using.

Web3 基础设施提供商 Particle Network 协议关系主管 Ethan Francis 表示，由于“链抽象”，去中心化金融 (DeFi) 项目产生的费用将在未来 6 到 12 个月内继续增长，其中最终用户进行链上交易不会知道他们正在使用哪些链。

“We’re moving into this future quite quickly, especially on the user experience level where eventually users are going to be able to access different protocols and applications in general from any chain,” Francis told Unchained in a conversation.

弗朗西斯在一次对话中告诉 Unchained：“我们正在很快进入这个未来，特别是在用户体验层面，最终用户将能够从任何链访问不同的协议和应用程序。”

As a result, “over the next six [or] 12 months, these applications are going to have users from the entire ecosystem… My expectation is that with this movement and UX, fees will be significantly higher.”

因此，“在接下来的 6 个月或 12 个月内，这些应用程序将拥有来自整个生态系统的用户……我的预期是，通过这一举措和用户体验，费用将显着提高。”

“Fee-based models are proving to be the champion of revenue models of crypto,” said Francis, pointing to how DeFi protocols are generating millions of dollars in fees on a weekly basis, sometimes more than the base layer blockchains.

Francis 表示：“事实证明，收费模式是加密货币收入模式的冠军。”他指出 DeFi 协议每周产生数百万美元的费用，有时甚至比基础层区块链还要多。

Here are the top five protocols by fees generated in the past week, outside of layer 1 blockchain networks:

以下是过去一周在第 1 层区块链网络之外产生的费用排名前五的协议：

1. Lido – $19.1 Million

1.丽都——1910万美元

Lido, the leading liquid staking provider, is at the forefront of fee generation among crypto projects, surpassing even major layer 1 blockchain networks such as Bitcoin ($5.9 million), Ethereum ($16.2 million), Solana ($9.3 million), and Tron ($9.6 million), data from DefiLlama shows.

Lido 是领先的流动质押提供商，在加密货币项目中​​处于费用生成的最前沿，甚至超过了主要的第 1 层区块链网络，例如比特币（590 万美元）、以太坊（1620 万美元）、Solana（930 万美元）和 Tron（9.6 美元）百万），DefiLlama 的数据显示。

Lido is widely known for its flagship cryptocurrency, stETH, which enables holders to earn rewards by helping secure Ethereum while maintaining liquidity from their illiquid ETH. When someone decides to stake and contribute to Ethereum’s security, their ETH gets locked in a smart contract and can’t be used elsewhere. However, Lido users can use their stETH for a variety of different financial actions, such as supplying to liquidity pools or providing collateral on lending platforms.

Lido 以其旗舰加密货币 stETH 而闻名，该加密货币持有者可以通过帮助保护以太坊的安全，同时保持非流动性 ETH 的流动性来获得奖励。当有人决定抵押并为以太坊的安全做出贡献时，他们的 ETH 就会被锁定在智能合约中，并且不能在其他地方使用。然而，Lido 用户可以使用他们的 stETH 进行各种不同的金融行为，例如向流动性池提供资金或在借贷平台上提供抵押品。

According to Lido’s documents, the protocol generates fees by charging 10% on staking rewards, with the money being split between node operators and the DAO treasury. The treasury has an onchain portfolio of $328 million per Etherscan.

根据 Lido 的文件，该协议通过收取 10% 的质押奖励来产生费用，这笔钱由节点运营商和 DAO 金库分配。每个 Etherscan 的财政部拥有 3.28 亿美元的链上投资组合。

2. Raydium – $18.0 Million

2. Raydium——1800万美元

Raydium, an automated market maker (AMM) native to Solana, charges a small trading fee ranging from 0.01% to 1% each time a DeFi user swaps cryptocurrencies in a Raydium pool. This fee is divided up and then allocated to incentivize liquidity providers, fund RAY buybacks, and grow the protocol’s treasury, according to Raydium’s documents.

Raydium 是 Solana 原生的自动做市商 (AMM)，每当 DeFi 用户在 Raydium 池中交换加密货币时，都会收取 0.01% 到 1% 不等的小额交易费用。根据 Raydium 的文件，这笔费用被分配，然后分配用于激励流动性提供者、为 RAY 回购提供资金并增加协议的资金。

With a 24-hour trading volume of over $29.5 million, Raydium is one of the most popular venues on Solana on which to swap cryptocurrencies, especially memecoins. For example, memecoins inspired by Republican presidential candidate Donald Trump surviving an assassination attempt on Saturday dominate the top 10 liquidity pools by fees collected in past 24 hours. These liquidity pools include SOL-FIGHT, SOL-EAR, and SOL-DJT.

Raydium 的 24 小时交易量超过 2950 万美元，是 Solana 上最受欢迎的加密货币（尤其是 memecoin）交易场所之一。例如，受共和党总统候选人唐纳德·特朗普周六在一次暗杀企图中幸存的启发而产生的模因币在过去 24 小时内收取的费用方面占据了前 10 个流动性池的主导地位。这些流动性池包括 SOL-FIGHT、SOL-EAR 和 SOL-DJT。

3. Uniswap – $9.0 Million

3.Uniswap——900万美元

Uniswap, the popular AMM on Ethereum, has since expanded to other networks such as Base, Arbitrum, and ZKsync. Fees paid by users are earmarked for liquidity providers, who are individuals or entities that deposit their crypto assets into Uniswap’s liquidity pools allowing users to trade without relying on a traditional middleman.

Uniswap 是以太坊上流行的 AMM，此后已扩展到 Base、Arbitrum 和 ZKsync 等其他网络。用户支付的费用专门提供给流动性提供者，流动性提供者是将其加密资产存入 Uniswap 流动性池的个人或实体，允许用户在不依赖传统中间人的情况下进行交易。

Uniswap’s documents indicate that all token swaps have a 0.3% fee that goes toward liquidity providers. “Swapping fees are immediately deposited into liquidity reserves. This increases the value of liquidity tokens, functioning as a payout to all liquidity providers proportional to their share of the pool,” the exchange’s documents state.

Uniswap 的文件显示，所有代币互换均需向流动性提供商收取 0.3% 的费用。 “交换费立即存入流动性储备。这增加了流动性代币的价值，按照其在资金池中的份额按比例向所有流动性提供者支付费用，”该交易所的文件称。

Uniswap has taken governance steps to implement protocol fees aimed at rewarding UNI token holders that have staked and delegated their tokens, but as of press time, fees go toward liquidity providers.

Uniswap 已采取治理措施来实施协议费用，旨在奖励质押和委托代币的 UNI 代币持有者，但截至发稿时，费用将流向流动性提供者。

4. AAVE – $6.3 Million

4.AAVE——630万美元

AAVE, the leading lending platform with almost $21 billion in locked liquidity across eight networks, according to its homepage, is also a top protocol by fees earned.

AAVE 是领先的借贷平台，根据其主页显示，在 8 个网络中拥有近 210 亿美元的锁定流动性，按所赚取的费用计算，AAVE 也是顶级协议。

“Users pay fees whenever they borrow, deposit, liquidate, or use flash loans. The Aave protocol splits fees between the Aave DAO and those who backstop the protocol’s risk in the Safety Module through staking the native token, AAVE,” wrote a Delphi Digital analyst in a 2023 research report.

“用户在借贷、存款、清算或使用闪电贷时都需要支付费用。 Aave 协议在 Aave DAO 和通过质押原生代币 AAVE 来支持安全模块中协议风险的人之间分摊费用，”Delphi Digital 分析师在 2023 年的一份研究报告中写道。

5. PancakeSwap – $5.7 Million

5. PancakeSwap——570万美元

PancakeSwap, a protocol on BNB Chain similar to Raydium and Uniswap in that it is another venue on which to swap cryptocurrencies, is also among the top fee-generating platforms.

PancakeSwap 是 BNB 链上的一种协议，类似于 Raydium 和 Uniswap，因为它是交换加密货币的另一个场所，也是顶级费用生成平台之一。

According to CoinGecko, PancakeSwap’s V3 is the sixth-

据 CoinGecko 称，PancakeSwap 的 V3 是第六个 -