以太坊的低费用正在打破其经济模式

顶级智能合约网络上的交易成本现在不到 0.10 美元，而代币交换的成本不到 1 美元。这与100美元形成鲜明对比

A version of this article appeared in our The Decentralised newsletter on August 20. Sign up here.

本文的一个版本出现在我们 8 月 20 日的去中心化时事通讯中。在此注册。

GM, Tim here.

总经理，蒂姆在这里。

Here are some recent DeFi developments that caught my eye:

以下是一些最近引起我关注的 DeFi 发展：

Ethereum fees hit record lows — and it’s causing problems

以太坊费用创历史新低——这引发了问题

Transaction fees on Ethereum are now the lowest they’ve ever been — and that’s having some undesired effects.

以太坊上的交易费用现在是有史以来最低的——这产生了一些不良影响。

Transactions on the top smart contract network now cost less than $0.10, while tokens swaps can be done for less than a dollar.

顶级智能合约网络上的交易成本现在不到 0.10 美元，而代币交换的成本不到 1 美元。

That’s in stark contrast with the $100 plus fees that plagued users during the 2021 crypto bull run.

这与 2021 年加密货币牛市期间困扰用户的 100 美元加费用形成鲜明对比。

Fees are so low that Etherscan’s Ethereum Gas Tracker, a popular way to check transaction costs, has started reporting fees in decimals.

费用如此之低，以至于 Etherscan 的以太坊 Gas Tracker（一种检查交易成本的流行方法）已开始以小数形式报告费用。

Ethereum gas fees are now shown to three decimal places (Etherscan.io)

以太坊汽油费现在显示为小数点后三位（Etherscan.io）

The reason for the low fees is that activity has moved over to layer 2s — separate blockchains built on top of Ethereum that offer much faster and cheaper transactions.

费用低的原因是活动已经转移到第 2 层——建立在以太坊之上的独立区块链，可以提供更快、更便宜的交易。

Ethereum’s March Dencun upgrade juiced the cost savings layer 2s can offer, accelerating their adoption.

以太坊 3 月份的 Dencun 升级极大地节省了 Layer 2 的成本，加速了其采用。

But there’s a problem: The low fees are breaking Ethereum’s economic model.

但有一个问题：低廉的费用正在打破以太坊的经济模式。

Ethereum no longer destroys — or “burns” — more Ether tokens than it creates.

以太坊销毁（或“燃烧”）的以太币不再多于其创造的以太币。

In other words, its economics are now inflationary — a dirty word among crypto users who often revile the money printing ingrained in the traditional financial system.

换句话说，它的经济学现在是通货膨胀的——这对于加密货币用户来说是一个肮脏的词，他们经常痛斥传统金融体系中根深蒂固的印钞行为。

“The meme of ‘ultra sound money’ is broken,” Ethereum core developer Preston Van Loon told DL News.

以太坊核心开发人员 Preston Van Loon 告诉 DL News：“‘超健全货币’的模因已经被打破。”

AEUR stablecoin faces problems as bank goes bust

AEUR 稳定币因银行破产而面临问题

Anchored Coins AG, the Swiss company that issues the euro-pegged stablecoin AEUR, has paused withdrawals, leaving holders in the lurch.

发行与欧元挂钩的稳定币 AEUR 的瑞士公司 Anchored Coins AG 已暂停提款，使持有者陷入困境。

The reason? The bank where Anchored Coins kept part of the reserves backing its $63 million stablecoin — FlowBank — has gone bankrupt.

原因是什么？ Anchored Coins 为其 6300 万美元稳定币保留部分储备的银行 FlowBank 已经破产。

It’s not yet clear whether the stablecoin issuer can recover the collateral.

目前尚不清楚稳定币发行人是否可以收回抵押品。

But if it can’t, Anchored Coins said in a statement, losses would be socialised among all AEUR holders, per Swiss law.

但如果不能，Anchored Coins 在一份声明中表示，根据瑞士法律，损失将由所有 AEUR 持有者共同承担。

Anchored Coins did not respond to a request for comment.

Anchored Coins 没有回应置评请求。

For now, the funds are in limbo until authorities appoint a liquidator to oversee the return of deposits to creditors ― a process that could take time.

目前，这些资金仍处于悬而未决的状态，直到当局任命一名清算人来监督存款返还给债权人——这一过程可能需要时间。

FlowBank’s bankruptcy isn’t the only crisis the stablecoin issuer has suffered in recent times.

FlowBank 的破产并不是稳定币发行商近年来遭受的唯一危机。

Binance paused AEUR trading in December, four days after its initial listing on the exchange because the token soared 200% to $3.25 ― an unusual occurrence for a stablecoin.

12 月，币安在首次上市四天后暂停了 AEUR 交易，因为该代币飙升 200% 至 3.25 美元，这对于稳定币来说是不寻常的情况。

The crypto exchange attributed the token’s upward depeg to factors including “users who might not have realised its standing as a stablecoin.”

该加密货币交易所将代币的上行归因于包括“可能没有意识到其作为稳定币地位的用户”等因素。

DAO voter apathy poses a threat to Arbitrum treasury

DAO 选民的冷漠对 Arbitrum 财务构成威胁

Members of the Arbitrum DAO are voting on key changes to its native token, ARB, to protect its treasury from hostile takeover.

Arbitrum DAO 的成员正在对其原生代币 ARB 的重大变更进行投票，以保护其金库免受敌意收购。

The proposals are designed to address voter apathy among DAO members.

这些提案旨在解决 DAO 成员中选民的冷漠问题。

They include making the ARB token stakable, and potentially diverting a portion of the blockchain’s profits to ARB holders.

其中包括使 ARB 代币可质押，并可能将区块链的一部分利润转移给 ARB 持有者。

A decline in DAO participation poses a very real danger, according to pseudonymous Arbitrum DAO delegate Frisson.

Arbitrum DAO 代表 Frisson 表示，DAO 参与度的下降带来了非常现实的危险。

“It is becoming economically attractive for a malicious actor to launch a governance attack on the DAO treasury,” he said in a post on the Arbitrum governance forum.

他在 Arbitrum 治理论坛上发表的一篇文章中表示：“对于恶意行为者来说，对 DAO 金库发起治理攻击在经济上变得越来越有吸引力。”

A governance attack is where a coordinated group buy up a DAO’s token and vote to push through changes that benefit them — often at the expense of the protocol’s users.

治理攻击是指协调一致的团体购买 DAO 的代币并投票推动有利于他们的变革——通常是以牺牲协议用户的利益为代价的。

Other DAOs have already been attacked in this way.

其他 DAO 已经受到过这种方式的攻击。

In July, Compound, an Ethereum-based lending protocol, was the target of a $25 million governance attack.

7 月，Compound（一种基于以太坊的借贷协议）成为 2500 万美元治理攻击的目标。

The DAO managing the Ethereum Name Service, a protocol that lets users turn their crypto addresses names and titles, is also fighting off attacks.

管理以太坊名称服务的 DAO 也在抵御攻击，该协议允许用户将其加密地址命名为名称和标题。

Data of the week

本周数据

Tron is the only blockchain to see an increase in trading volume over the past seven days.

Tron 是过去 7 天交易量唯一增长的区块链。

Sunpump.meme, a copy of the Solana-based memecoin generator pump.fun, recently launched on the blockchain.

Sunpump.meme 是基于 Solana 的 memecoin 生成器 Pump.fun 的副本，最近在区块链上推出。

Tron transaction volume is up 36% this week. (DefiLlama)

Tron 交易量本周增长了 36%。 （德菲骆驼）

This week in DeFi governance

本周 DeFi 治理

CoW DAO votes on Wintermute liquidity deal for its COW token

CoW DAO 就其 COW 代币的 Wintermute 流动性交易进行投票

Arbitrum DAO mulls new conflict of interest policies

Arbitrum DAO 考虑新的利益冲突政策

Solana stablecoin protocol UXD is shutting down

Solana 稳定币协议 UXD 即将关闭

Post of the week

本周帖子

Polygon Chief Information Security Officer Mudit Gupta riffs on the serious issue of DeFi protocols unknowingly hiring North Korean developers.

Polygon 首席信息安全官 Mudit Gupta 反复讨论了 DeFi 协议在不知情的情况下雇用朝鲜开发人员的严重问题。

Found the perfect spot for next Devcon.Most devs are apparently based there anyway so less travel on average. pic.twitter.com/kUAp9HZgYL

找到了下一次开发者大会的完美地点。大多数开发者显然都在那里，所以平均旅行较少。 pic.twitter.com/kUAp9HZgYL

Found the perfect spot for next Devcon.Most devs are apparently based there anyway so less travel on

找到了下一次 Devcon 的完美地点。大多数开发人员显然都在那里，所以旅行较少