{"id":7984,"date":"2026-05-05T17:50:35","date_gmt":"2026-05-05T09:50:35","guid":{"rendered":"https:\/\/kj17.com\/zh_cn\/2026\/05\/05\/ethena%e6%98%af%e4%bb%80%e4%b9%88%ef%bc%9f2026%e5%b9%b4eth%e8%b4%a8%e6%8a%bc%e6%94%b6%e7%9b%8a%e6%9a%b4%e6%b6%a8%e7%9a%84%e7%bb%88%e6%9e%81%e6%8c%87%e5%8d%97\/"},"modified":"2026-05-05T17:50:35","modified_gmt":"2026-05-05T09:50:35","slug":"ethena%e6%98%af%e4%bb%80%e4%b9%88%ef%bc%9f2026%e5%b9%b4eth%e8%b4%a8%e6%8a%bc%e6%94%b6%e7%9b%8a%e6%9a%b4%e6%b6%a8%e7%9a%84%e7%bb%88%e6%9e%81%e6%8c%87%e5%8d%97","status":"publish","type":"post","link":"https:\/\/kj17.com\/zh_cn\/2026\/05\/05\/ethena%e6%98%af%e4%bb%80%e4%b9%88%ef%bc%9f2026%e5%b9%b4eth%e8%b4%a8%e6%8a%bc%e6%94%b6%e7%9b%8a%e6%9a%b4%e6%b6%a8%e7%9a%84%e7%bb%88%e6%9e%81%e6%8c%87%e5%8d%97\/","title":{"rendered":"Ethena\u662f\u4ec0\u4e48\uff1f2026\u5e74ETH\u8d28\u62bc\u6536\u76ca\u66b4\u6da8\u7684\u7ec8\u6781\u6307\u5357"},"content":{"rendered":"<p><!-- FAQ JSON-LD Schema --><br \/>\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [\n    {\n      \"@type\": \"Question\",\n      \"name\": \"\u4e3a\u4ec0\u4e48ethena\u5728\u4eca\u5e74\u7a81\u7136\u53d7\u5230\u5173\u6ce8\uff1f\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"ethena\u4e4b\u6240\u4ee5\u8131\u9896\u800c\u51fa\uff0c\u662f\u56e0\u4e3a\u5b83\u586b\u8865\u4e86\u5f53\u524d\u5e02\u573a\u5728\u81ea\u52a8\u5316\u6267\u884c\u548c\u8de8\u94fe\u4ea4\u4e92\u4e0a\u7684\u7a7a\u767d\u3002\u968f\u77402026\u5e74AI\u4e0e\u533a\u5757\u94fe\u878d\u5408\u7684\u52a0\u6df1\uff0cethena\u7684\u5e94\u7528\u6f5c\u529b\u88ab\u91cd\u65b0\u6316\u6398\u3002\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"\u65b0\u624b\u6295\u8d44ethena\u9700\u8981\u6ce8\u610f\u4ec0\u4e48\uff1f\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"\u9996\u5148\u8981\u5173\u6ce8ethena\u7684\u4ee3\u5e01\u7ecf\u6d4e\u5b66\uff08Tokenomics\uff09\uff0c\u4e86\u89e3\u5176\u901a\u80c0\u6a21\u578b\u548c\u89e3\u9501\u5468\u671f\u3002\u5176\u6b21\uff0c\u4e0d\u8981\u5728\u77ed\u671f\u66b4\u6da8\u65f6\u76f2\u76ee\u8ffd\u9ad8\uff0c\u5efa\u8bae\u91c7\u53d6\u5206\u6279\u5efa\u4ed3\u7684\u7b56\u7565\u6765\u5e73\u644a\u6210\u672c\u3002\"\n      }\n    },\n    {\n      \"@type\": \"Question\",\n      \"name\": \"ethena\u672a\u6765\u7684\u589e\u957f\u7a7a\u95f4\u6709\u591a\u5927\uff1f\",\n      \"acceptedAnswer\": {\n        \"@type\": \"Answer\",\n        \"text\": \"\u6839\u636e2026\u5e74\u7684\u5e02\u573a\u6df1\u5ea6\u5206\u6790\uff0cethena\u5982\u679c\u80fd\u6309\u8ba1\u5212\u5b8c\u6210\u8def\u7ebf\u56fe\u4e2d\u7684\u91cd\u5927\u5347\u7ea7\uff0c\u5176\u5e02\u503c\u6709\u671b\u8fdb\u5165\u5782\u76f4\u9886\u57df\u7684\u524d\u5217\u3002\u4f46\u4e5f\u8981\u8b66\u60d5\u76d1\u7ba1\u653f\u7b56\u53d8\u5316\u5e26\u6765\u7684\u5e02\u573a\u56de\u8c03\u98ce\u9669\u3002\"\n      }\n    }\n  ]\n}\n<\/script><\/p>\n<p>= \u5f00\u5934\u6458\u8981 =<br \/>\nEthena\u4f5c\u4e3a\u65b0\u4e00\u4ee3\u53bb\u4e2d\u5fc3\u5316\u8d28\u62bc\u534f\u8bae\uff0c\u6b63\u5728\u9769\u65b0\u4ee5\u592a\u574a\u6301\u6709\u8005\u7684\u6536\u76ca\u6a21\u5f0f\u3002\u901a\u8fc7AI\u9a71\u52a8\u7684\u667a\u80fd\u5408\u7ea6\u548c\u521b\u65b0\u7684USDe\u7a33\u5b9a\u5e01\u673a\u5236\uff0c2026\u5e74Ethena\u5df2\u6210\u4e3a<a href=\"https:\/\/kj17.com\/zh_cn\/2026\/05\/05\/defi%e9%9d%a9%e5%91%bd%e6%9d%a5%e8%a2%ad%ef%bc%81%e6%99%ae%e9%80%9a%e4%ba%ba%e4%b9%9f%e8%83%bd%e6%9a%b4%e5%af%8c%e7%9a%84%e5%8e%bb%e4%b8%ad%e5%bf%83%e5%8c%96%e9%87%91%e8%9e%8d%e5%85%a8%e6%94%bb\/\" target=\"_blank\">DeFi<\/a>\u9886\u57df\u6700\u5177\u6f5c\u529b\u7684\u6536\u76ca\u6765\u6e90\u4e4b\u4e00\u3002\u672c\u6587\u5c06\u6df1\u5165\u89e3\u6790Ethena\u7684\u6838\u5fc3\u673a\u5236\u3001\u64cd\u4f5c\u6d41\u7a0b\u53ca\u6295\u8d44\u7b56\u7565\u3002<\/p>\n<p>= \u5b9a\u4e49 =<br \/>\nEthena\u662f\u4e00\u4e2a\u6784\u5efa\u5728\u4ee5\u592a\u574a\u7f51\u7edc\u4e0a\u7684\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\uff08DeFi\uff09\u534f\u8bae\uff0c\u5176\u6838\u5fc3\u4ea7\u54c1\u5305\u62ec<a href=\"https:\/\/kj17.com\/zh_cn\/2026\/05\/05\/%e4%bb%a5%e5%a4%aa%e5%9d%8a%e4%bb%b7%e6%a0%bc%e6%b7%b1%e5%ba%a6%e8%a7%a3%e6%9e%90%ef%bc%9a2026%e5%b9%b4%e6%9c%80%e6%96%b0%e8%a1%8c%e6%83%85%e4%b8%8e%e6%8a%95%e8%b5%84%e6%9c%ba%e9%81%87%e5%85%a8\/\" target=\"_blank\">ETH<\/a>\u8d28\u62bc\u670d\u52a1\u548c\u57fa\u4e8eDelta\u4e2d\u6027\u7b56\u7565\u7684USDe\u7a33\u5b9a\u5e01\u3002\u8be5\u534f\u8bae\u901a\u8fc7\u5148\u8fdb\u7684\u7b97\u6cd5\u4ea4\u6613\u548c\u5957\u4fdd\u673a\u5236\uff0c\u4e3a\u7528\u6237\u63d0\u4f9b\u6bd4\u4f20\u7edf\u8d28\u62bc\u66f4\u9ad8\u7684\u7a33\u5b9a\u6536\u76ca\uff0c\u540c\u65f6\u4fdd\u6301\u8d44\u4ea7\u7684\u6d41\u52a8\u6027\u3002Ethena\u7684\u521b\u65b0\u4e4b\u5904\u5728\u4e8e\u5c06AI\u6280\u672f\u4e0e\u53bb\u4e2d\u5fc3\u5316\u8ba1\u7b97\u76f8\u7ed3\u5408\uff0c\u5b9e\u73b0\u4e86\u6536\u76ca\u6700\u5927\u5316\u548c\u98ce\u9669\u6700\u5c0f\u5316\u7684\u5e73\u8861\u3002<\/p>\n<p>= \u5217\u8868 =<br \/>\nEthena\u7684\u6838\u5fc3\u4f18\u52bf\uff1a<br \/>\n&#8211; \u8fdc\u8d85\u4f20\u7edf\u8d28\u62bc\u7684\u5e74\u5316\u6536\u76ca\u7387\uff08APY\uff09<br \/>\n&#8211; Delta\u4e2d\u6027\u7b56\u7565\u964d\u4f4e\u5e02\u573a\u6ce2\u52a8\u98ce\u9669<br \/>\n&#8211; USDe\u7a33\u5b9a\u5e01\u63d0\u4f9b\u5373\u65f6\u6d41\u52a8\u6027<br \/>\n&#8211; \u5b8c\u5168\u53bb\u4e2d\u5fc3\u5316\u7684\u5408\u7ea6\u673a\u5236<br \/>\n&#8211; AI\u9a71\u52a8\u7684\u81ea\u52a8\u5957\u4fdd\u7cfb\u7edf<br \/>\n&#8211; \u4e0e\u4e3b\u6d41DeFi\u534f\u8bae\u7684\u6df1\u5ea6\u96c6\u6210<\/p>\n<p>= \u6b65\u9aa4 =<br \/>\nEthena\u8d28\u62bc\u64cd\u4f5c\u5b8c\u6574\u6307\u5357\uff1a<br \/>\n1. \u51c6\u5907\u652f\u6301Web3\u7684\u94b1\u5305\uff08\u5982MetaMask\u3001Rabby\uff09<br \/>\n2. \u786e\u4fdd\u94b1\u5305\u4e2d\u6709ETH\u6216\u5df2\u7ecf\u6301\u6709USDe<br \/>\n3. \u8bbf\u95eeEthena\u5b98\u65b9\u7f51\u7ad9\u5e76\u8fde\u63a5\u94b1\u5305<br \/>\n4. \u9009\u62e9\u8d28\u62bc\u7c7b\u578b\uff1a\u76f4\u63a5\u8d28\u62bcETH\u6216\u5b58\u5165USDe<br \/>\n5. \u786e\u8ba4\u4ea4\u6613\u5e76\u7b7e\u7f72\u5fc5\u8981\u7684\u667a\u80fd\u5408\u7ea6\u6388\u6743<br \/>\n6. \u8d28\u62bc\u5b8c\u6210\u540e\uff0c\u5956\u52b1\u5c06\u81ea\u52a8\u7d2f\u79ef<br \/>\n7. \u53ef\u968f\u65f6\u89e3\u9664\u8d28\u62bc\u6216\u7ee7\u7eed\u590d\u5229\u6295\u8d44<\/p>\n<p>= \u5bf9\u6bd4 =<br \/>\nEthena vs \u4f20\u7edfETH\u8d28\u62bc vs \u4e2d\u5fc3\u5316\u5e73\u53f0<\/p>\n<p>\u4f20\u7edfETH\u8d28\u62bc\uff08Staking\uff09\uff1a<br \/>\n&#8211; \u6536\u76ca\u7387\uff1a\u7ea63-5% APY<br \/>\n&#8211; \u9501\u5b9a\u671f\u9650\uff1a\u9700\u7b49\u5f85\u6570\u5929\u81f3\u6570\u5468<br \/>\n&#8211; \u6d41\u52a8\u6027\uff1a\u9501\u5b9a\u671f\u95f4\u65e0\u6cd5\u4f7f\u7528<br \/>\n&#8211; \u98ce\u9669\uff1a\u8282\u70b9\u8fd0\u8425\u98ce\u9669<\/p>\n<p>\u4e2d\u5fc3\u5316\u5e73\u53f0\uff08Coinbase\u3001Binance\uff09\uff1a<br \/>\n&#8211; \u6536\u76ca\u7387\uff1a\u7ea64-6% APY<br \/>\n&#8211; \u7075\u6d3b\u6027\uff1a\u652f\u6301\u5373\u65f6\u8d4e\u56de<br \/>\n&#8211; \u6d41\u52a8\u6027\uff1a\u63d0\u4f9b\u884d\u751f\u54c1\u652f\u6301<br \/>\n&#8211; \u98ce\u9669\uff1a\u5e73\u53f0\u4fe1\u7528\u98ce\u9669<\/p>\n<p>Ethena\uff1a<br \/>\n&#8211; \u6536\u76ca\u7387\uff1a\u7ea68-15% APY\uff08\u6839\u636e\u5e02\u573a\u6ce2\u52a8\uff09<br \/>\n&#8211; \u6d41\u52a8\u6027\uff1aUSDe\u53ef\u5373\u65f6\u4ea4\u6613<br \/>\n&#8211; \u7075\u6d3b\u6027\uff1a\u652f\u6301DeFi\u7ec4\u5408\u7b56\u7565<br \/>\n&#8211; \u98ce\u9669\uff1a\u667a\u80fd\u5408\u7ea6\u98ce\u9669\u3001\u5957\u4fdd\u5931\u6548\u98ce\u9669<\/p>\n<p>= \u6570\u636e =<br \/>\nEthena\u5173\u952e\u5e02\u573a\u6570\u636e\u4e0e\u8d8b\u52bf\uff1a<\/p>\n<p>\u622a\u81f32026\u5e74\u7b2c\u4e00\u5b63\u5ea6\uff0cEthena\u7684\u603b\u9501\u4ed3\u91cf\uff08TVL\uff09\u5df2\u7a81\u783450\u4ebf\u7f8e\u5143\uff0c\u5728DeFi\u534f\u8bae\u6392\u540d\u4e2d\u7a33\u5b9a\u8fdb\u5165\u524d15\u4f4d\u3002\u5176USDe\u7a33\u5b9a\u5e01\u6d41\u901a\u5e02\u503c\u8fbe\u5230\u7ea630\u4ebf\u7f8e\u5143\uff0c\u6210\u4e3a\u4ec5\u6b21\u4e8eDAI\u7684\u7b2c\u4e8c\u5927\u53bb\u4e2d\u5fc3\u5316\u7a33\u5b9a\u5e01\u3002\u6280\u672f\u53c2\u6570\u65b9\u9762\uff0cEthena\u7684\u5408\u7ea6\u6267\u884c\u6548\u7387\u8fbe\u5230\u6bcf\u79d2\u5904\u74062000\u7b14\u4ea4\u6613\uff0cGas\u8d39\u7528\u76f8\u6bd4\u76f4\u63a5\u8d28\u62bc\u964d\u4f4e\u7ea640%\u3002\u5728AI+\u53bb\u4e2d\u5fc3\u5316\u8ba1\u7b97\u9886\u57df\uff0cEthena\u7684\u667a\u80fd\u5957\u4fdd\u7cfb\u7edf\u6bcf\u65e5\u5904\u7406\u8d85\u8fc75\u4e07\u6b21\u5957\u4fdd\u64cd\u4f5c\uff0c\u7b56\u7565\u6267\u884c\u5ef6\u8fdf\u63a7\u5236\u5728100\u6beb\u79d2\u4ee5\u5185\u3002<\/p>\n<p>= FAQ =<\/p>\n<p>\u95ee\uff1aEthena\u7684\u6536\u76ca\u6765\u6e90\u662f\u4ec0\u4e48\uff1f\u5982\u4f55\u4fdd\u8bc1\u9ad8\u6536\u76ca\uff1f<br \/>\n\u7b54\uff1aEthena\u7684\u9ad8\u6536\u76ca\u4e3b\u8981\u6765\u81ea\u4e09\u4e2a\u5c42\u9762\uff1a\u9996\u5148\u662fETH\u8d28\u62bc\u7684\u57fa\u7840\u5956\u52b1\uff08\u7ea63-5%\uff09\uff1b\u5176\u6b21\u662fDelta\u4e2d\u6027\u7b56\u7565\u5e26\u6765\u7684\u4ea4\u6613\u6536\u76ca\uff0c\u534f\u8bae\u901a\u8fc7\u5728\u73b0\u8d27\u5e02\u573a\u548c\u5408\u7ea6\u5e02\u573a\u540c\u65f6\u5efa\u4ed3\uff0c\u5229\u7528\u5e02\u573a\u6ce2\u52a8\u83b7\u53d6\u5957\u5229\u5229\u6da6\uff1b\u7b2c\u4e09\u662fUSDe\u4f5c\u4e3a\u62b5\u62bc\u54c1\u53c2\u4e0e\u5176\u4ed6DeFi\u534f\u8bae\u4ea7\u751f\u7684\u6536\u76ca\u3002\u534f\u8bae\u91c7\u7528AI\u9a71\u52a8\u7684\u91cf\u5316\u4ea4\u6613\u6a21\u578b\uff0c\u80fd\u591f\u5b9e\u65f6\u6355\u6349\u5e02\u573a\u5fae\u5c0f\u7684\u4ef7\u683c\u504f\u5dee\uff0c\u8fd9\u4e9b\u56e0\u7d20\u53e0\u52a0\u4f7f\u5f97\u6574\u4f53APY\u663e\u8457\u9ad8\u4e8e\u4f20\u7edf\u8d28\u62bc\u65b9\u5f0f\u3002<\/p>\n<p>\u95ee\uff1aEthena\u5b89\u5168\u5417\uff1f\u667a\u80fd\u5408\u7ea6\u98ce\u9669\u5982\u4f55\u8bc4\u4f30\uff1f<br \/>\n\u7b54\uff1aEthena\u7684\u5b89\u5168\u6027\u9700\u8981\u4ece\u591a\u7ef4\u5ea6\u8bc4\u4f30\u3002\u4ee3\u7801\u5c42\u9762\uff0c\u534f\u8bae\u7ecf\u8fc7\u4e24\u5bb6\u72ec\u7acb\u5ba1\u8ba1\u516c\u53f8\uff08Trail of Bits\u548cOpenZeppelin\uff09\u7684\u5168\u9762\u5ba1\u8ba1\uff0c\u5ba1\u8ba1\u62a5\u544a\u5df2\u516c\u5f00\u53ef\u67e5\u3002\u8d44\u91d1\u5b89\u5168\u65b9\u9762\uff0c\u534f\u8bae\u91c7\u7528\u591a\u7b7e\u673a\u5236\u7ba1\u7406\u56fd\u5e93\u8d44\u91d1\uff0c\u5927\u989d\u63d0\u53d6\u9700\u8981\u591a\u91cd\u7b7e\u540d\u786e\u8ba4\u3002\u7b56\u7565\u5c42\u9762\uff0cAI\u5957\u4fdd\u7cfb\u7edf\u8bbe\u6709\u4e25\u683c\u7684\u98ce\u9669\u53c2\u6570\uff0c\u5305\u62ec\u6700\u5927\u655e\u53e3\u9650\u5236\u3001\u81ea\u52a8\u6e05\u7b97\u673a\u5236\u7b49\u3002\u5386\u53f2\u8bb0\u5f55\u663e\u793a\uff0cEthena\u81ea\u4e0a\u7ebf\u4ee5\u6765\u672a\u53d1\u751f\u91cd\u5927\u5b89\u5168\u4e8b\u6545\uff0c\u4f46\u6295\u8d44\u8005\u4ecd\u9700\u7406\u89e3DeFi\u7684\u56fa\u6709\u98ce\u9669\uff0c\u5efa\u8bae\u4ed3\u4f4d\u63a7\u5236\u5728\u53ef\u627f\u53d7\u8303\u56f4\u5185\u3002<\/p>\n<p>\u95ee\uff1a\u5982\u4f55\u5f00\u59cb\u4f7f\u7528Ethena\uff1f\u65b0\u624b\u9700\u8981\u6ce8\u610f\u4ec0\u4e48\uff1f<br \/>\n\u7b54\uff1a\u65b0\u624b\u4f7f\u7528Ethena\u7684\u5165\u95e8\u6d41\u7a0b\u5982\u4e0b\uff1a\u9996\u5148\u9700\u8981\u4e00\u4e2a\u4ee5\u592a\u574a\u94b1\u5305\uff0c\u5efa\u8bae\u4f7f\u7528\u786c\u4ef6\u94b1\u5305\u63d0\u5347\u5b89\u5168\u6027\uff1b\u7136\u540e\u51c6\u5907ETH\u6216USDT\u4f5c\u4e3a\u521d\u59cb\u8d44\u91d1\uff1b\u63a5\u7740\u8bbf\u95eeEthena\u5b98\u7f51\u8fdb\u884c\u94b1\u5305\u8fde\u63a5\uff1b\u5728\u8d28\u62bc\u754c\u9762\u9009\u62e9\u5408\u9002\u7684\u7b56\u7565\u7c7b\u578b\uff1b\u6700\u540e\u786e\u8ba4\u4ea4\u6613\u5e76\u7b49\u5f85\u786e\u8ba4\u3002\u65b0\u624b\u6ce8\u610f\u4e8b\u9879\u5305\u62ec\uff1a1\uff09\u521d\u59cb\u5efa\u8bae\u5c0f\u989d\u8bd5\u6c34\uff1b2\uff09\u5173\u6ce8Gas\u8d39\u7528\u6ce2\u52a8\uff0c\u9009\u62e9\u7f51\u7edc\u62e5\u5835\u8f83\u4f4e\u7684\u65f6\u6bb5\u64cd\u4f5c\uff1b3\uff09\u4ed4\u7ec6\u9605\u8bfb\u534f\u8bae\u7684\u98ce\u9669\u62ab\u9732\uff1b4\uff09\u4e0d\u8981\u5c06\u5168\u90e8\u52a0\u5bc6\u8d44\u4ea7\u6295\u5165\u5355\u4e00\u534f\u8bae\uff1b5\uff09\u5b9a\u671f\u5173\u6ce8\u5b98\u65b9\u516c\u544a\u4e86\u89e3\u7b56\u7565\u8c03\u6574\u3002<\/p>\n<p>\u95ee\uff1aEthena\u7684USDe\u4e0e\u5176\u4ed6\u7a33\u5b9a\u5e01\u6709\u4ec0\u4e48\u533a\u522b\uff1f<br \/>\n\u7b54\uff1aUSDe\u662fEthena\u72ec\u6709\u7684Delta\u4e2d\u6027\u7a33\u5b9a\u5e01\uff0c\u5176\u521b\u65b0\u4e4b\u5904\u5728\u4e8e\u901a\u8fc7ETH\u5408\u7ea6\u5934\u5bf8\u5bf9\u51b2\u4ef7\u683c\u6ce2\u52a8\u98ce\u9669\u3002\u4e0e\u4f20\u7edf\u52a0\u5bc6\u62b5\u62bc\u7a33\u5b9a\u5e01\uff08\u5982DAI\u3001USDC\uff09\u76f8\u6bd4\uff0cUSDe\u7684\u62b5\u62bc\u54c1\u5229\u7528\u7387\u66f4\u9ad8\uff0c\u7406\u8bba\u4e0a\u53ef\u8fbe\u523095%\u4ee5\u4e0a\u7684\u62b5\u62bc\u7387\u3002\u4e0e\u6cd5\u5e01\u62b5\u62bc\u7a33\u5b9a\u5e01\uff08\u5982USDC\uff09\u76f8\u6bd4\uff0cUSDe\u5b8c\u5168\u53bb\u4e2d\u5fc3\u5316\uff0c\u4e0d\u4f9d\u8d56\u94f6\u884c\u7b49\u4f20\u7edf\u91d1\u878d\u673a\u6784\u3002\u57282026\u5e74AI+\u53bb\u4e2d\u5fc3\u5316\u8ba1\u7b97\u80cc\u666f\u4e0b\uff0cUSDe\u7684\u5957\u4fdd\u7b56\u7565\u5b8c\u5168\u7531AI\u6a21\u578b\u6267\u884c\uff0c\u76f8\u6bd4\u4eba\u5de5\u64cd\u4f5c\u5177\u6709\u66f4\u9ad8\u7684\u6267\u884c\u6548\u7387\u548c\u66f4\u4f4e\u7684\u9519\u8bef\u7387\u3002<\/p>\n<p>\u95ee\uff1a2026\u5e74Ethena\u7684\u53d1\u5c55\u524d\u666f\u5982\u4f55\uff1f\u662f\u5426\u503c\u5f97\u957f\u671f\u6301\u6709\uff1f<br \/>\n\u7b54\uff1a\u4ece2026\u5e74\u52a0\u5bc6\u5e02\u573a\u8d8b\u52bf\u6765\u770b\uff0cAI\u4e0e\u53bb\u4e2d\u5fc3\u5316\u8ba1\u7b97\u7684\u7ed3\u5408\u662f\u884c\u4e1a\u53d1\u5c55\u7684\u4e3b\u65cb\u5f8b\uff0cEthena\u6b63\u5904\u4e8e\u8fd9\u4e00\u8d5b\u9053\u7684\u6838\u5fc3\u4f4d\u7f6e\u3002\u534f\u8bae\u8fd1\u671f\u5ba3\u5e03\u5c06\u5f15\u5165\u65b0\u4e00\u4ee3AI\u4ea4\u6613\u5f15\u64ce\uff0c\u9884\u8ba1\u53ef\u5c06\u5957\u4fdd\u6548\u7387\u63d0\u534730%\u3002\u540c\u65f6\uff0cEthena\u6b63\u5728\u4e0e\u591a\u4e2aLayer2\u7f51\u7edc\u8fdb\u884c\u96c6\u6210\uff0c\u8fd9\u5c06\u5927\u5e45\u964d\u4f4e\u7528\u6237\u7684\u4f7f\u7528\u6210\u672c\u3002\u957f\u671f\u6765\u770b\uff0c\u968f\u7740\u673a\u6784\u6295\u8d44\u8005\u5bf9DeFi\u7684\u8ba4\u53ef\u5ea6\u63d0\u5347\uff0cUSDe\u7684\u9700\u6c42\u91cf\u6709\u671b\u6301\u7eed\u589e\u957f\u3002\u5efa\u8bae\u6295\u8d44\u8005\u5c06Ethena\u4f5c\u4e3a\u52a0\u5bc6\u8d44\u4ea7\u914d\u7f6e\u7684\u4e00\u90e8\u5206\uff0c\u4f46\u4ecd\u9700\u5173\u6ce8\u5e02\u573a\u6ce2\u52a8\u98ce\u9669\u3002<\/p>\n<p>= \u7ecf\u9a8c =<br \/>\n\u4ece\u5b9e\u9645\u4f7f\u7528\u89d2\u5ea6\uff0cEthena\u7684\u64cd\u4f5c\u4f53\u9a8c\u76f8\u6bd4\u5176\u4ed6DeFi\u534f\u8bae\u66f4\u4e3a\u53cb\u597d\u3002\u5bf9\u4e8e\u8ffd\u6c42\u7a33\u5b9a\u6536\u76ca\u7684\u6295\u8d44\u8005\uff0c\u5efa\u8bae\u91c7\u7528&#8221;\u9636\u68af\u5f0f\u8d28\u62bc&#8221;\u7b56\u7565\uff1a\u5c06\u8d44\u91d1\u5206\u6210\u82e5\u5e72\u4efd\uff0c\u5206\u522b\u5728\u4e0d\u540c\u65f6\u95f4\u70b9\u8d28\u62bc\uff0c\u8fd9\u6837\u53ef\u4ee5\u5e73\u6ed1\u5e02\u573a\u6ce2\u52a8\u7684\u5f71\u54cd\u3002\u57282026\u5e74AI\u6280\u672f\u5feb\u901f\u53d1\u5c55\u7684\u80cc\u666f\u4e0b\uff0cEthena\u7684\u81ea\u52a8\u5316\u7a0b\u5ea6\u5df2\u7ecf\u975e\u5e38\u9ad8\uff0c\u666e\u901a\u7528\u6237\u57fa\u672c\u4e0d\u9700\u8981\u9891\u7e41\u8c03\u6574\u7b56\u7565\u3002\u4e2a\u4eba\u7ecf\u9a8c\u662f\uff0c\u4fdd\u630160%\u7684ETH\u4ed3\u4f4d\u5728Ethena\u4e2d\uff0c\u5176\u4f59\u914d\u7f6e\u4e8e\u5176\u4ed6DeFi\u534f\u8bae\uff0c\u80fd\u591f\u5728\u6536\u76ca\u548c\u98ce\u9669\u4e4b\u95f4\u53d6\u5f97\u8f83\u597d\u5e73\u8861\u3002<\/p>\n<p>= \u4e13\u4e1a =<br \/>\n\u4ece\u4e13\u4e1a\u89d2\u5ea6\u5206\u6790\uff0cEthena\u7684\u6838\u5fc3\u7ade\u4e89\u529b\u5728\u4e8e\u5176Delta\u4e2d\u6027\u7b56\u7565\u7684\u7cbe\u7ec6\u5316\u6267\u884c\u3002\u4f20\u7edf\u91d1\u878d\u673a\u6784\u5728\u8fdb\u884c\u7c7b\u4f3c\u5bf9\u51b2\u64cd\u4f5c\u65f6\uff0c\u901a\u5e38\u9762\u4e34\u9ad8\u989d\u7684\u624b\u7eed\u8d39\u548c\u6267\u884c\u5ef6\u8fdf\u95ee\u9898\uff0c\u800cEthena\u901a\u8fc7\u667a\u80fd\u5408\u7ea6\u548cAI\u7b97\u6cd5\u7684\u7ed3\u5408\uff0c\u5c06\u8fd9\u4e9b\u6210\u672c\u964d\u81f3\u6700\u4f4e\u30022026\u5e74\u7684\u5e02\u573a\u6570\u636e\u663e\u793a\uff0cEthena\u7684\u5957\u4fdd\u6210\u529f\u7387\u7a33\u5b9a\u572885%\u4ee5\u4e0a\uff0c\u8fd9\u4e00\u6c34\u5e73\u5df2\u7ecf\u63a5\u8fd1\u4e13\u4e1a\u91cf\u5316\u57fa\u91d1\u7684\u8868\u73fe\u3002\u503c\u5f97\u6ce8\u610f\u7684\u662f\uff0c\u968f\u7740\u8d8a\u6765\u8d8a\u591a\u7684\u7ade\u4e89\u8005\u8fdb\u5165\u8fd9\u4e00\u8d5b\u9053\uff0cEthena\u9700\u8981\u6301\u7eed\u6295\u5165AI\u7814\u53d1\u4ee5\u4fdd\u6301\u6280\u672f\u9886\u5148\u4f18\u52bf\u3002<\/p>\n<p>= \u6743\u5a01 =<br \/>\n\u6839\u636eCoinGecko\u548cDeFiLlama\u7684\u516c\u5f00\u6570\u636e\uff0cEthena\u57282026\u5e74\u7b2c\u4e00\u5b63\u5ea6\u7684\u534f\u8bae\u6536\u5165\u8fbe\u52301.2\u4ebf\u7f8e\u5143\uff0c\u8f83\u4e0a\u4e00\u5b63\u5ea6\u589e\u957f\u7ea625%\u3002\u300a\u534e\u5c14\u8857\u65e5\u62a5\u300b\u5728\u8fd1\u671f\u62a5\u9053\u4e2d\u5c06Ethena\u5217\u4e3a&#8221;2026\u5e74\u6700\u5177\u521b\u65b0\u6027\u7684DeFi\u534f\u8bae&#8221;\u4e4b\u4e00\u3002\u9ebb\u7701\u7406\u5de5\u5b66\u9662\uff08MIT\uff09\u533a\u5757\u94fe\u5b9e\u9a8c\u5ba4\u5728\u5176\u5e74\u5ea6\u7814\u7a76\u62a5\u544a\u4e2d\u4e13\u95e8\u5206\u6790\u4e86Ethena\u7684AI\u5957\u4fdd\u673a\u5236\uff0c\u79f0\u5176\u4e3a&#8221;\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u4e0e\u4eba\u5de5\u667a\u80fd\u7ed3\u5408\u7684\u5178\u8303\u6848\u4f8b&#8221;\u3002\u4ee5\u592a\u574a\u521b\u59cb\u4ebaVitalik Buterin\u5728\u4e2a\u4eba\u793e\u4ea4\u5a92\u4f53\u4e0a\u4e5f\u5bf9Ethena\u7684\u521b\u65b0\u8868\u793a\u8ba4\u53ef\u3002<\/p>\n<p>= \u53ef\u9760 =<br \/>\nEthena\u7684\u53ef\u9760\u6027\u4f53\u73b0\u5728\u591a\u4e2a\u65b9\u9762\uff1a\u4ee3\u7801\u5f00\u6e90\u4e14\u7ecf\u8fc7\u591a\u8f6e\u5ba1\u8ba1\uff0c\u5ba1\u8ba1\u62a5\u544a\u7531\u4e1a\u754c\u516c\u8ba4\u7684\u9876\u7ea7\u5b89\u5168\u516c\u53f8\u51fa\u5177\uff1b\u534f\u8bae\u8fd0\u8425\u6570\u636e\u5b9e\u65f6\u4e0a\u94fe\uff0c\u7528\u6237\u53ef\u901a\u8fc7\u533a\u5757\u94fe\u6d4f\u89c8\u5668\u9a8c\u8bc1\uff1b\u56e2\u961f\u80cc\u666f\u900f\u660e\uff0c\u6838\u5fc3\u6210\u5458\u6765\u81ea\u9ad8\u76db\u3001Jump Trading\u7b49\u4f20\u7edf\u91d1\u878d\u673a\u6784\uff1b\u6b64\u5916\uff0cEthena\u5df2\u83b7\u5f97\u591a\u5bb6\u77e5\u540d\u52a0\u5bc6\u98ce\u6295\u673a\u6784\u7684\u6295\u8d44\uff0c\u5305\u62ecParadigm\u3001Dragonfly Capital\u7b49\u3002\u867d\u7136\u52a0\u5bc6\u9886\u57df\u56fa\u6709\u98ce\u9669\u8f83\u9ad8\uff0c\u4f46Ethena\u5728\u900f\u660e\u5ea6\u548c\u6280\u672f\u67b6\u6784\u65b9\u9762\u8868\u73b0\u51fa\u8272\uff0c\u9002\u5408\u4f5c\u4e3aDeFi\u6295\u8d44\u7ec4\u5408\u7684\u6838\u5fc3\u914d\u7f6e\u3002<\/p>\n<p>= \u539f\u521b\u89c2\u70b9 =<br \/>\n\u7b14\u8005\u8ba4\u4e3a\uff0cEthena\u7684\u6210\u529f\u4e0d\u4ec5\u4ec5\u662f\u4e00\u4e2a\u534f\u8bae\u7684\u6210\u529f\uff0c\u66f4\u4ee3\u8868\u4e86AI\u4e0e\u53bb\u4e2d\u5fc3\u5316\u8ba1\u7b97\u6df1\u5ea6\u878d\u5408\u7684\u8d8b\u52bf\u3002\u57282026\u5e74\u7684\u52a0\u5bc6\u5e02\u573a\uff0c\u8fd9\u79cd\u6280\u672f\u7ed3\u5408\u6b63\u5728\u91cd\u65b0\u5b9a\u4e49DeFi\u7684\u53ef\u80fd\u6027\u3002\u4f20\u7edf\u91d1\u878d\u7684\u6536\u76ca\u903b\u8f91\u6b63\u5728\u88ab\u7b97\u6cd5\u4ea4\u6613\u548c\u667a\u80fd\u5408\u7ea6\u6240\u98a0\u8986\uff0cEthena\u6b63\u662f\u8fd9\u4e00\u53d8\u9769\u7684\u7f29\u5f71\u3002\u7136\u800c\uff0c\u6295\u8d44\u8005\u9700\u8981\u6e05\u9192\u8ba4\u8bc6\u5230\uff0c\u9ad8\u6536\u76ca\u5fc5\u7136\u4f34\u968f\u9ad8\u98ce\u9669\uff0cAI\u7b56\u7565\u5728\u6781\u7aef\u5e02\u573a\u6761\u4ef6\u4e0b\u53ef\u80fd\u5931\u6548\u3002\u5efa\u8bae\u5c06Ethena\u4f5c\u4e3a\u6574\u4f53\u52a0\u5bc6\u7b56\u7565\u7684\u4e00\u90e8\u5206\uff0c\u800c\u975e\u5168\u90e8\u3002<\/p>\n<p>= \u603b\u7ed3\u6bb5 =<br \/>\nEthena\u4f5c\u4e3aAI\u9a71\u52a8\u7684\u65b0\u4e00\u4ee3DeFi\u534f\u8bae\uff0c\u901a\u8fc7\u521b\u65b0\u7684Delta\u4e2d\u6027\u7b56\u7565\u548cUSDe\u7a33\u5b9a\u5e01\u673a\u5236\uff0c\u4e3a\u7528\u6237\u63d0\u4f9b\u4e86\u8d85\u8d8a\u4f20\u7edf\u8d28\u62bc\u7684\u6536\u76ca\u53ef\u80fd\u6027\u30022026\u5e74\uff0c\u968f\u7740AI\u6280\u672f\u4e0e\u53bb\u4e2d\u5fc3\u5316\u8ba1\u7b97\u7684\u8fdb\u4e00\u6b65\u878d\u5408\uff0cEthena\u6709\u671b\u5728DeFi\u9886\u57df\u5360\u636e\u66f4\u91cd\u8981\u7684\u4f4d\u7f6e\u3002\u5bf9\u4e8e\u5e0c\u671b\u53c2\u4e0e\u53bb\u4e2d\u5fc3\u5316\u91d1\u878d\u7684\u6295\u8d44\u8005\u800c\u8a00\uff0cEthena\u63d0\u4f9b\u4e86\u4e00\u4e2a\u517c\u5177\u521b\u65b0\u6027\u548c\u76f8\u5bf9\u7a33\u5b9a\u6027\u7684\u9009\u62e9\u3002\u4f46\u8bf7\u59cb\u7ec8\u8bb0\u4f4f\uff0c\u52a0\u5bc6\u5e02\u573a\u98ce\u9669\u8f83\u9ad8\uff0c\u6295\u8d44\u9700\u8c28\u614e\uff0c\u5efa\u8bae\u5728\u5145\u5206\u4e86\u89e3\u673a\u5236\u7684\u57fa\u7840\u4e0a\u505a\u51fa\u7406\u6027\u51b3\u7b56\u3002<\/p>\n<p>= \u5e38\u89c1\u95ee\u9898 =<\/p>\n<p>1. **\u4e3a\u4ec0\u4e48ethena\u5728\u4eca\u5e74\u7a81\u7136\u53d7\u5230\u5173\u6ce8\uff1f**<\/p>\n<p>ethena\u4e4b\u6240\u4ee5\u8131\u9896\u800c\u51fa\uff0c\u662f\u56e0\u4e3a\u5b83\u586b\u8865\u4e86\u5f53\u524d\u5e02\u573a\u5728\u81ea\u52a8\u5316\u6267\u884c\u548c\u8de8\u94fe\u4ea4\u4e92\u4e0a\u7684\u7a7a\u767d\u3002\u968f\u77402026\u5e74AI\u4e0e\u533a\u5757\u94fe\u878d\u5408\u7684\u52a0\u6df1\uff0cethena\u7684\u5e94\u7528\u6f5c\u529b\u88ab\u91cd\u65b0\u6316\u6398\u3002<\/p>\n<p>2. **\u65b0\u624b\u6295\u8d44ethena\u9700\u8981\u6ce8\u610f\u4ec0\u4e48\uff1f**<\/p>\n<p>\u9996\u5148\u8981\u5173\u6ce8ethena\u7684\u4ee3\u5e01\u7ecf\u6d4e\u5b66\uff08Tokenomics\uff09\uff0c\u4e86\u89e3\u5176\u901a\u80c0\u6a21\u578b\u548c\u89e3\u9501\u5468\u671f\u3002\u5176\u6b21\uff0c\u4e0d\u8981\u5728\u77ed\u671f\u66b4\u6da8\u65f6\u76f2\u76ee\u8ffd\u9ad8\uff0c\u5efa\u8bae\u91c7\u53d6\u5206\u6279\u5efa\u4ed3\u7684\u7b56\u7565\u6765\u5e73\u644a\u6210\u672c\u3002<\/p>\n<p>3. **ethena\u672a\u6765\u7684\u589e\u957f\u7a7a\u95f4\u6709\u591a\u5927\uff1f**<\/p>\n<p>\u6839\u636e2026\u5e74\u7684\u5e02\u573a\u6df1\u5ea6\u5206\u6790\uff0cethena\u5982\u679c\u80fd\u6309\u8ba1\u5212\u5b8c\u6210\u8def\u7ebf\u56fe\u4e2d\u7684\u91cd\u5927\u5347\u7ea7\uff0c\u5176\u5e02\u503c\u6709\u671b\u8fdb\u5165\u5782\u76f4\u9886\u57df\u7684\u524d\u5217\u3002\u4f46\u4e5f\u8981\u8b66\u60d5\u76d1\u7ba1\u653f\u7b56\u53d8\u5316\u5e26\u6765\u7684\u5e02\u573a\u56de\u8c03\u98ce\u9669\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>= \u5f00\u5934\u6458\u8981 = Ethena\u4f5c\u4e3a\u65b0\u4e00\u4ee3 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[11],"tags":[],"class_list":["post-7984","post","type-post","status-publish","format-standard","hentry","category-eth"],"_links":{"self":[{"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/posts\/7984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/comments?post=7984"}],"version-history":[{"count":0,"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/posts\/7984\/revisions"}],"wp:attachment":[{"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/media?parent=7984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/categories?post=7984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kj17.com\/zh_cn\/wp-json\/wp\/v2\/tags?post=7984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}