解开2025治理协议激增

2025年标志着交换聚合器治理方案的关键时刻，采用和创新都有明显的激增。

The year 2025 has seen a pronounced surge in activity within swap aggregator governance protocols, marking a pivotal moment for the decentralized finance (DeFi) sector. As swap aggregators, such as 1inch and ParaSwap, become increasingly prominent in facilitating efficient token swaps and providing optimal routing solutions, the protocols underpinning their governance have grown increasingly sophisticated.

2025年在掉期聚合器治理方案中的活动激增，标志着分散融资（DEFI）部门的关键力矩。随着交换汇总器（例如1英寸和paraswap）在促进有效的令牌掉期和提供最佳路由解决方案方面变得越来越突出，基于其治理的协议越来越复杂。

These protocols, which are largely based on decentralized autonomous organizations (DAOs) and token-based voting, empower community members to make critical decisions regarding protocol upgrades, security measures, and even revenue-sharing models. The surge in governance activity is evident in the increased participation rates observed in major DeFi DAOs. For instance, 1inch Network's DAO witnessed a participation high of over 70,000 wallet addresses engaging in proposals during Q1 2025.

这些协议主要基于分散的自治组织（DAOS）和基于代币的投票，使社区成员能够就协议升级，安全措施甚至收入共享模型做出关键决定。在主要Defi Daos观察到的参与率上升中，治理活动的激增显而易见。例如，1英寸网络的DAO目睹了70,000多个钱包的参与地址在第1季度2025年第1季度参与建议。

A significant contributor to this surge is the improvement in voting interfaces and the introduction of staking rewards for voters, further incentivizing community involvement. Similarly, ParaSwap's integration of quadratic voting and real-time proposal tracking aims to mitigate governance capture and boost transparency, leading to a 40% year-over-year increase in proposal submissions.

引起这一激增的一个重要贡献是投票界面的改善和为选民引入奖励的奖励，进一步激励社区参与。同样，Paraswap的二次投票和实时建议跟踪的整合旨在减轻治理捕获和提高透明度，从而导致提案提交的提案同比增长40％。

Several trends are shaping the future of swap aggregator governance. Firstly, there's a strong emphasis on security and risk management. Protocols are beginning to implement circuit-breaker mechanisms and real-time analytics for governance proposals, reducing the risk of malicious or rushed upgrades. These features, first piloted by 1inch Network in late 2024, are rapidly becoming industry standards.

几种趋势正在塑造掉期聚合治理的未来。首先，非常重视安全和风险管理。协议开始实施断路器机制和治理建议的实时分析，从而降低了恶意或急速升级的风险。这些功能在2024年底首先由1英寸网络进行了试点，它迅速成为行业标准。

Secondly, the emergence of governance-as-a-service providers is lowering the barrier for new projects to implement robust, modular governance systems. This will likely foster the development of more specialized governance models tailored to specific aggregator use cases.

其次，治理 - 服务提供商的出现正在降低新项目实施强大的模块化治理系统的障碍。这可能会促进针对特定聚合器用例量身定制的更专业的治理模型的开发。

Looking ahead, the governance landscape is expected to experience further decentralization and composability. The integration of decentralized identity (DID) solutions and reputation-based voting is already in early-stage pilots, promising to improve both participation integrity and proposal quality.

展望未来，治理格局有望经历进一步的权力下放和合成性。分散的身份（DID）解决方案和基于声誉的投票的整合已经在早期飞行员中，有望提高参与完整性和建议质量。

Cross-aggregator collaborations on governance standards, such as the formation of interoperability working groups, are also being observed. These collaborations aim to create a more unified DeFi infrastructure, paving the way for more seamless integration of liquidity and services across different platforms in 2026 and beyond.

还观察到了有关治理标准的交叉聚集者合作，例如互操作性工作组的形成。这些合作旨在创建一个更统一的Defi基础架构，为2026年及以后的不同平台上更多无缝的流动性和服务铺平道路。

In conclusion, the surge in swap aggregator governance protocol activity during 2025 is characterized by deeper community engagement, enhanced security, and a move toward standardized, composable governance tools. These advances are setting the stage for the next phase of scalable, resilient DeFi aggregation.

总之，掉期聚合器治理方案活动的激增的特征是社区参与度更深，安全性增强以及朝着标准化的，可组合的治理工具迈进。这些进步正在为下一阶段的可扩展，弹性偏移聚集奠定了基础。

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目录

Executive Summary: Unpacking the 2025 Governance Protocol Surge

执行摘要：解开2025年治理协议激增

The year 2025 marks a pivotal moment for swap aggregator governance protocols, with a pronounced surge in both adoption and innovation. Swap aggregators, decentralized platforms that route users' token swaps across various decentralized exchanges (DEXs) for optimal pricing, are increasingly relying on sophisticated governance frameworks to ensure security, adaptability, and community alignment.

2025年标志着交换聚合器治理方案的关键时刻，采用和创新都有明显的激增。交换聚合器，分散的平台，这些平台将用户在各种分散交易所（DEX）上划分以进行最佳定价，越来越多地依靠复杂的治理框架来确保安全性，适应性和社区一致性。

The protocols underpinning leading aggregators such as 1inch Network, ParaSwap, and Matcha (by 0x Labs) have advanced their on-chain governance models, empowering token holders to directly influence critical parameters, upgrades, and even revenue distribution mechanisms. These platforms are integrating advanced voting systems, modular governance components, and cross-chain interoperability solutions to meet the evolving demands of the DeFi ecosystem.

支撑领先的聚合器的协议，例如1英寸网络，Paraswap和Matcha（由0x Labs）提高了其链政策模型，使代币持有人能够直接影响关键参数，升级甚至收入分配机制。这些平台正在整合高级投票系统，模块化治理组件和跨链互操作性解决方案，以满足Defi生态系统不断发展的需求。

During 2024 and into 2025, several major governance milestones have been achieved. 1inch Network reached new participation highs, with over 70,000 wallet addresses engaging in its DAO proposals. This uptick is attributed to improved voting interfaces and incentive mechanisms, such as staking rewards for voters. Similarly, ParaSwap introduced quadratic voting and real-time proposal tracking to mitigate governance capture and boost transparency, leading to a 40% increase in proposal submissions year-over-year.

在2024年至2025年期间，已经实现了一些主要的治理里程碑。 1英寸的网络达到了新的参与高点，有70,000多个钱包的地址参与了DAO建议。这种上升归因于改进的投票界面和激励机制，例如选民的奖励。同样，Paraswap引入了二次投票和实时建议跟踪，以减轻治理捕获并提高透明度，从而使提案同比提交的提案提交40％。

Meanwhile, Matcha (by 0x Labs) integrated cross-chain governance modules, enabling community oversight of aggregator operations across Ethereum, Polygon, and emerging L2s. The goal is to provide a flexible, upgradable governance process that can rapidly respond to changing market or regulatory conditions.

同时，抹茶（由0x实验室）集成了跨链治理模块，从而使社区对以太坊，多边形和新兴的L2S进行聚合操作。目的是提供灵活的，可升级的治理过程，可以快速响应不断变化的市场或监管条件。

A key trend is the emphasis on security and risk management. Protocols have begun implementing circuit-breaker mechanisms and real-time analytics for governance proposals, reducing the risk of malicious or rushed upgrades. These features, first piloted by 1inch Network in late 2024, are rapidly becoming industry standards.

关键趋势是强调安全和风险管理。协议已经开始实施断路器机制和治理建议的实时分析，从而降低了恶意或急速升级的风险。这些功能在2024年底首先由1英寸网络进行了试点，它迅速成为行业标准。

Furthermore, the emergence of governance-as-a-service providers is lowering the barrier for new projects to implement robust, modular governance systems. This will likely foster the development of more specialized governance models tailored to specific aggregator use cases.

此外，治理 - 服务提供商的出现正在降低新项目实施强大的模块化治理系统的障碍。这可能会促进针对特定聚合器用例量身定制的更专业的治理模型的开发。

Looking ahead, the governance landscape is expected to experience further decentralization and composability. The integration of decentralized identity (DID) solutions and reputation-based voting is already in

展望未来，治理格局有望经历进一步的权力下放和合成性。分散身份（ID）解决方案和基于声誉的投票的整合已经存在