SpringSui：Sui 网络上流动性质押的新代币标准

Suilend 开发的新代币标准为 Sui 上的流动性质押带来了可喜的推动。

A new token standard for creating liquid staking tokens (LSTs) on Sui has been unveiled by Suilend, the team behind the popular DeFi lending protocol. Named SpringSui, the standard is set to have major implications for Sui builders and users alike.

Suilend 是热门 DeFi 借贷协议背后的团队，推出了在 Sui 上创建流动性质押代币 (LST) 的新代币标准。该标准名为 SpringSui，将对 Sui 构建者和用户产生重大影响。

Aftermath Finance is one of the first Sui protocols to incorporate SpringSui, and there are signs that other Sui projects are also poised to take the plunge.

Aftermath Finance 是首批纳入 SpringSui 的 Sui 协议之一，有迹象表明其他 Sui 项目也准备采取这一举措。

Two Standards That Work as One

两个标准合二为一

SpringSui is built upon SIP-31 and SIP-33, two protocol upgrades that support assets such as LSTs by allowing staked tokens to become fungible. As Emma Zhong, Software Engineer at Mysten Labs, explains: “SIP-33’s instant unstaking feature improves the safety of LSTs by minimizing depegging risks. This upgrade represents a major step in boosting the safety, efficiency, and accessibility of staking products across Sui’s DeFi ecosystem.”

SpringSui 基于 SIP-31 和 SIP-33 构建，这两种协议升级通过允许质押代币变得可替代来支持 LST 等资产。正如 Mysten Labs 软件工程师 Emma Zhu 所解释的那样：“SIP-33 的即时取消抵押功能通过最大限度地降低脱钩风险来提高 LST 的安全性。此次升级代表着 Sui 的 DeFi 生态系统在提高质押产品的安全性、效率和可及性方面迈出了重要一步。”

More than just a proof of concept, SpringSui’s release has been accompanied by the launch of Spring SUI (sSUI), the first LST to harness this new framework. Users who stake SUI can receive sSUI on a 1:1 basis. This liquid staking token can then be utilized in other ways: for instance paired against SUI in a liquidity pool to earn a share of trading fees or as collateral to borrow stablecoins.

SpringSui 的发布不仅仅是一个概念验证，还伴随着 Spring SUI (sSUI) 的发布，这是第一个利用这一新框架的 LST。质押 SUI 的用户可以按照 1:1 的比例获得 sSUI。然后，这种流动性质押代币可以以其他方式使用：例如与流动性池中的 SUI 配对，以赚取一部分交易费用或作为借入稳定币的抵押品。

Making Liquid Staking the Center of Sui

让流动性质押成为Sui的中心

SpringSui is designed to grow the liquid staking landscape on Sui network, which has lagged behind more mature networks such as Ethereum when it comes to liquid staking. At present, just over 1% of all native SUI is staked through liquid staking on Sui, whereas a whopping 41% of ETH is liquid staked on Ethereum. Even Solana is ahead with over 6.6% of SOL liquid staked compared to Sui. Being newer to PoS and DeFi, Sui is still developing its LST ecosystem which is why the SpringSui standard has been widely welcomed by developers.

SpringSui 旨在发展 Sui 网络上的流动性质押格局，该网络在流动性质押方面落后于以太坊等更成熟的网络。目前，所有原生 SUI 中只有略多于 1% 的流动性质押在 Sui 上，而高达 41% 的 ETH 则通过流动性质押在以太坊上。与 Sui 相比，甚至 Solana 的 SOL 流动性质押量也领先 6.6% 以上。作为 PoS 和 DeFi 的新手，Sui 仍在开发其 LST 生态系统，这也是 SpringSui 标准受到开发者广泛欢迎的原因。

Ethereum’s transition to Proof of Stake (PoS) has driven significant demand for staking. LSTs on Ethereum, like stETH (Lido’s liquid staked Ethereum) and rETH (Rocket Pool’s token), allow users to earn staking rewards while participating in DeFi. This same principle is now widely used across numerous PoS chains, with LSTs widely regarded as superior to conventional staking from a user perspective.

以太坊向权益证明 (PoS) 的过渡推动了对权益质押的巨大需求。以太坊上的 LST，如 stETH（Lido 的流动质押以太坊）和 rETH（Rocket Pool 的代币），允许用户在参与 DeFi 的同时获得质押奖励。同样的原理现在广泛应用于众多 PoS 链中，从用户的角度来看，LST 被广泛认为优于传统的质押。

Not only do liquid staking protocols lower the barriers to entry, because users can stake with any amount, they’re freed from needing to run a validator node. Solo staking on Ethereum, for example, requires a minimum of 32 ETH. The growth of LSTs on Sui through SpringSui will be good for Suilend, good for DeFi users, and good for the broader staking industry.

流动质押协议不仅降低了进入门槛，因为用户可以以任意金额进行质押，而且他们无需运行验证器节点。例如，单独质押以太坊至少需要 32 ETH。通过 SpringSui，Sui 上的 LST 的增长将有利于 Suilend，有利于 DeFi 用户，也有利于更广泛的 Stake 行业。