咒语的OM令牌倾倒超过90％，从$ 6.30到$ 0.50

4月，Mantra的OM代币倾倒了90％以上，从6.30美元增加到不到0.50美元，仅在几个小时内，价值2.27亿美元的代币转移到了交易所。

In April, Mantra’s OM token saw a decline of over 90%, going from $6.30 to less than $0.50 in only a few hours after $227 million worth of tokens were moved to exchanges, the event sparked concerns among investors regarding liquidity, insider trading, and the lack of transparency in the cryptocurrency market. This is just one instance of several token crashes that lacked transparency and accountability.

4月，Mantra的OM代币下降了90％以上，从6.30美元到不到0.50美元，仅在几个小时内将价值2.27亿美元的代币转移到交易所，这一事件引起了投资者对流动性，内部人士交易以及加密货币市场缺乏透明度的关注。这只是几个缺乏透明度和问责制的几个令牌崩溃的实例。

On the other hand, memecoins serve no practical purpose, and many so-called utility tokens have yet to find an application in the real world. This lack of utility furthered the skepticism among traders with experience in structured financial systems. The market doesn't need more tokens; it needs tokens that are safe, compliant, and usable.

另一方面，Memecoins没有实践目的，许多所谓的实用令牌尚未在现实​​世界中找到应用。这种缺乏效用进一步促进了在结构化金融系统方面经验丰富的交易者的怀疑。市场不需要更多的令牌；它需要安全，合规且可用的令牌。

The Trust Gap Between Web3 and Traditional Finance

Web3和传统金融之间的信任差距

The challenge isn’t just technological—it’s psychological. People accustomed to operating within frameworks that prioritize compliance, accountability, and performance metrics find it difficult to navigate a space largely defined by hype cycles and unverified claims.

挑战不仅是技术，而且是心理。人们习惯于在优先考虑合规性，问责制和绩效指标优先考虑的框架内操作，发现很难在很大程度上由炒作周期和未验证的主张定义的空间进行导航。

Even when a token is said to have utility, it usually isn't easily accessible, doesn't integrate smoothly with other systems, or lacks a direct tie-in to actual financial operations. Most utility tokens remain unlinked to any regulated system, and the majority fail to align with tasks professionals currently engage in, such as trading, paying service fees, or accruing interest on a trustworthy platform.

即使据说具有效用的令牌，它通常也不容易访问，也不会与其他系统平稳集成，或者缺乏直接与实际的财务运营联系。大多数公用事业令牌与任何受监管的系统均未链接，并且大多数人都无法与目前从事的任务保持一致，例如交易，支付服务费或在值得信赖的平台上获得利息。

This lack of connection keeps a large segment of individuals with expertise, capital, and interest largely out of the Web3 picture.

这种缺乏联系使大量具有专业知识，资本和兴趣的人在很大程度上远离了Web3图片。

What Makes Useful Utility, Actually Useful?

是什么使有用的实用程序实际上有用？

For utility tokens to truly resonate with the mainstream audience, they require more than just a whitepaper and a roadmap. They need:

为了使公用事业令牌真正引起主流观众的共鸣，它们不仅需要白皮书和路线图。他们需要：

● A clear role within an already-existing financial system

●在已经存在的金融体系中明确角色

● Operations that maintain visibility and are open for auditing

●维持可见性并开放审核的操作

● Intrinsic value propositions that encourage initial adoption

●鼓励初始采用的内在价值主张

Utility, in its purest form, should enhance something that already functions well, not encourage individuals to abandon what they trust. It's not about building the highway from scratch; it's about creating a smoother on-ramp to Web3.

以最纯粹的形式的公用事业应该增强已经发挥良好功能的东西，而不是鼓励个人放弃自己信任的东西。这不是要从头开始建造高速公路；这是关于创建与Web3的更光滑的斜坡。

Where Structured Utility is Beginning to Emerge

结构化实用程序开始出现的地方

Some platforms are beginning to get this right, forming a more natural extension of traditional finance by linking tokens to genuine financial platforms, including trading platforms, brokerage services, and payment infrastructure.

一些平台开始正确地实现这一目标，从而通过将代币与真正的财务平台联系起来，包括交易平台，经纪服务和付款基础架构，从而形成了更自然的传统金融扩展。

For instance, consider MultiBank Group and their $MBG coin, which isn't designed for speculation but rather to integrate seamlessly with existing operations. Users of the platform can use the token to pay for services and receive cash-back, an activity they engage in daily. You can also stake the token for APY dividends, which encourages users to remain engaged in the long term rather than quickly selling the token.

例如，考虑多ebank Group及其$ MBG硬币，该硬币不是为投机而设计的，而是与现有操作无缝集成。该平台的用户可以使用令牌来支付服务费用并获得现金背包，这是他们每天从事的活动。您还可以将令牌存储以获取APY股息，该股息鼓励用户长期参与，而不是迅速出售令牌。

The essence of this is that it doesn't force anyone to change how they operate but rather incentivizes them for what they already do.

这样做的本质是，它不会迫使任何人改变他们的运作方式，而是激励他们为他们已经做的事情。

Sustainable Models Need Sustainable Mechanics

可持续模型需要可持续的机制

Durable models are built upon sustainable mechanics. Utility isn't just about features; it's also about tokenomics that keep the system healthy over the long term. Some platforms are introducing deflationary properties like buybacks, burns, and capped supply to maintain a balanced ecosystem and stable value over time, rather than introducing an overwhelming influx of tokens. Those in the financial world are familiar with these dynamics, and they add a layer of predictability that crypto often lacks.

耐用的模型建立在可持续力学的基础上。实用程序不仅与功能有关；这也是关于使系统在长期内保持健康的问题。一些平台正在引入通缩属性，例如回购，燃烧和封顶供应，以维持平衡的生态系统和随着时间的流逝稳定价值，而不是引入压倒性的令牌。那些金融界的人熟悉这些动态，并且增加了加密货币经常缺乏的可预测性。

For $MBG, the strategy involves a $58.2 million repurchase and burn plan for the first year, aiming to reduce the total supply by up to 50% over four years. These dynamics closely resemble the focused supply-side approaches used in traditional asset management.

对于$ MBG，该策略涉及第一年的5820万美元回购和燃烧计划，旨在将四年内总供应量最多减少50％。这些动态非常类似于传统资产管理中使用的重点供应方方法。

A More Natural & Safer Introduction to Web3

Web3的更自然和更安全的介绍

It's becoming clear that the future of finance won't be Web3 or traditional—it will be both. When tokens cooperate with current systems, become an addition to regulated platforms, and provide valuable incentives, adoption is less about risk and more about utility. When the technology doesn't feel foreign but rather like an improvement, traders, investors, and financial professionals will feel more comfortable getting involved.

很明显，财务的未来不会是Web3或传统的，这两个都是。当代币与当前系统合作，成为受监管平台的补充，并提供有价值的激励措施时，采用量就少于风险，而更多地涉及公用事业。当该技术不陌生而不是进步时，交易者，投资者和金融专业人士将感到更加自在。

There's still a lot of noise in the market. But beneath it lies a quieter evolution—one where the right kind of utility might finally bring those on the fringes into the fold.

市场上仍然有很多噪音。但是它的下方是一个更安静的演变 - 正确的效用最终可能会将边缘上的这些实用程序带入折叠。