EigenLayer 流出 $2.3B 信号重新抵押行业下滑

与收益生成平台 Ethena 等平台相比，重新抵押所提供的收益相形见绌。

Ether (ETH) outflows from restaking protocols have reached $2.3 billion in the past month as the once-booming sector faces the reality of crypto investors’ fickle nature.

过去一个月，以太坊 (ETH) 从重新抵押协议中流出已达到 23 亿美元，因为这个曾经繁荣的行业面临着加密货币投资者反复无常的现实。

On June 25, ether (ETH) was trading at $3,300, a touch higher than Thursday’s price of $3,200. But in that time, the total value locked (TVL) on EigenLayer – a protocol that links restaking protocols – has slid by $2.28 billion to $15.1 billion. Restaking protocols like Renzo and Kelp have lost 45% and 22% of their TVL, respectively, according to data from DefiLlama.

6 月 25 日，以太坊 (ETH) 交易价格为 3,300 美元，略高于周四的 3,200 美元。但在那段时间，EigenLayer（一种链接重质押协议的协议）上锁定的总价值 (TVL) 已下滑 22.8 亿美元，至 151 亿美元。根据 DefiLlama 的数据，Renzo 和 Kelp 等重新抵押协议的 TVL 分别损失了 45% 和 22%。

Some of the outflows can be attributed to depositors looking to harvest points that will eventually be converted to airdrops, then moving on to another project to maximize returns.

部分资金外流可归因于储户寻求收获点，这些点最终将转化为空投，然后转向另一个项目以最大化回报。

For others, the yields are simply too low when compared with those of certain yield-generation protocols, such as Ethena. Renzo offers an annual yield of 3.43%; Ethena offers more than 10%.

对于其他人来说，与某些产量生成协议（例如 Ethena）相比，产量实在太低了。 Renzo提供的年收益率为3.43%； Ethena 报价超过 10%。

Restaking is a strategy that investors use to secure an additional yield on ETH that is already staked on the main Ethereum blockchain. Protocols like Ethena generate a yield by harvesting funding rates, which can be more volatile.

重新抵押是投资者用来确保已经抵押在以太坊主区块链上的 ETH 获得额外收益的策略。像 Ethena 这样的协议通过获取资金费率来产生收益，而资金费率的波动性可能更大。

One restaking project that has managed to buck the trend is ether.fi, which has seen a $100 million increase in TVL.

ether.fi 是一个逆势而上的重新质押项目，其 TVL 增加了 1 亿美元。