Pendle的承重稳定蛋白飙升至$ 11B流通，捕获了4.5％的市场

承重稳定的稳定量已经达到110亿美元的流通，占稳定市场总市场的4.5％。 Pendle Labs。

Yield-bearing stablecoins have quickly become a hot topic in 2024, surging to $11 billion in circulation, which accounts for 4.5% of the total stablecoin market. This represents a steep climb from just $1.5 billion and a 1% market share at the start of the year.

承担屈服的稳定蛋白在2024年迅速成为一个热门话题，飙升至110亿美元，占稳定市场总市场的4.5％。这是从15亿美元的急剧攀升，在年初的市场份额为1％。

As one of the biggest winners of this trend, Pendle, a decentralized protocol that enables users to lock in fixed yields or speculate on variable interest rates, now accounts for 30% of all yield-bearing stablecoin total value locked (TVL), roughly $3 billion, the firm said in a report shared with Cointelegraph.

作为这一趋势中最大的赢家之一，Pendle是一种分散的协议，使用户能够锁定固定的收益率或推测可变利率，现在占所有承重稳定的stablecoin总价值锁定（TVL）的30％，约有30亿美元，该公司在与Cointelegraph的一份报告中表示。

According to the report, stablecoins make up 83% of Pendle’s $4 billion total value locked, showcasing a significant shift from less than 20% in the prior year. In contrast, assets like Ether (ETH), which historically contributed 80%–90% of Pendle’s TVL, have shrunk to less than 10%.

根据该报告，Stablecoins占Pendle 40亿美元锁定的40亿美元的83％，从上一年不到20％的人展示了重大转变。相比之下，诸如Ether（ETH）之类的资产在历史上占Pendle TVL的80％–90％的资产已缩减到不到10％。

Traditional stablecoins like Tether’s USDt (USDT) and Circle’s USDC (USDC) do not pass on interest to holders. With over $200 billion in circulation and the US Federal Reserve interest rate at 4.3%, Pendle estimates that stablecoin holders are missing out on more than $9 billion in annual yield.

诸如Tether的USDT（USDT）和Circle的USDC（USDC）等传统稳定币并未将持有人的兴趣转移给持有人。 Pendle估计，有超过2000亿美元的发行量和美国美联储的利率为4.3％，据估计，Stablecoin持有人的年收益率超过90亿美元。

Growing regulatory clarity benefits stablecoins

越来越多的法规清晰度益处稳定的稳定性

The rise in yield-bearing stablecoins comes amid increasing regulatory clarity in the crypto sector.

在加密部门的调节性清晰度越来越明显的情况下，承重稳定的稳定蛋白的增加。

In February, the US Securities and Exchange Commission approved yield-bearing stablecoins as “certificates” subject to securities regulation, rather than banning them. The approval allows yield-bearing stablecoins to operate under specific rules, including registration, disclosure requirements and investor protections.

2月，美国证券和交易委员会批准承担债务的稳定股份为“证书”，但不要禁止它们。该批准允许承担屈服的稳定剂在特定规则（包括注册，披露要求和投资者保护）下运行。

Proposed bills like the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) and the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) aim to create a comprehensive regulatory framework for stablecoins, focusing on transparency, risk management and consumer protection. These initiatives signal a favorable direction for the future of yield-bearing stablecoins.

提出的法案，例如稳定的透明度和对更好的分类帐经济（稳定）以及为美国Stablecoins（GENIUS）的指导和建立国家创新的责任，旨在为稳定的稳定框架创建全面的监管框架，重点关注透明度，风险管理和消费者保护。这些举措向承受屈服的稳定剂的未来提供了有利的方向。

According to Pendle, it expects stablecoin issuance to double to $500 billion in the next 18 to 24 months. The firm anticipates yield-bearing stablecoins to capture 15% of this market with $75 billion in issuance (7x growth from $11 billion).

根据Pendle的说法，它预计在未来18至24个月内，Stablecoin发行将翻一番，达到5000亿美元。该公司预计，承重的稳定者将以750亿美元的发行（从110亿美元增长7倍）来捕获该市场的15％。

Pendle shifts focus to yield market

Pendle转移重点以产生市场

Initially focused on airdrop farming, Pendle has shifted toward serving as an infrastructure layer for decentralized finance yield markets.

彭德尔（Pendle）最初专注于空投农业，转向了作为分散金融收益率市场的基础设施层。

Ethena’s USDe stablecoin currently accounts for about 75% of Pendle’s stablecoin TVL. However, newer entrants like Open Eden, Reserve and Falcon have increased the share of non-USDe assets from 1% to 26% over the past year.

Ethena的USDE Stablecoin目前约占Pendle Stablecoin TVL的75％。但是，在过去的一年中，诸如Open Eden，Reserve和Falcon之类的新进入者将非USDE资产的份额从1％增加到26％。

Pendle is also expanding beyond Ethereum, with plans to support networks like Solana and to integrate with Aave and Ethena’s upcoming Converge blockchain.

彭德（Pendle）还在扩展以太坊（Ethereum），并计划支持诸如Solana之类的网络，并与AAVE和Ethena即将到来的Converge区块链集成。