{"id":599,"date":"2026-03-05T17:04:56","date_gmt":"2026-03-05T09:04:56","guid":{"rendered":"http:\/\/okx.biquan123.com\/blog\/?p=599"},"modified":"2026-03-05T17:21:27","modified_gmt":"2026-03-05T09:21:27","slug":"%e4%bb%80%e4%b9%88%e6%98%af%e6%94%b6%e7%9b%8a%e5%86%9c%e4%b8%9a%ef%bc%9f","status":"publish","type":"post","link":"http:\/\/okx.biquan123.com\/blog\/?p=599","title":{"rendered":"\u4ec0\u4e48\u662f\u6536\u76ca\u519c\u4e1a\uff1f"},"content":{"rendered":"

\u5728\u5145\u6ee1\u6d3b\u529b\u7684\u6570\u5b57\u91d1\u878d\u9886\u57df\uff0c\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u662f\u4e00\u6761\u6f5c\u5728\u7684\u76c8\u5229\u9014\u5f84\u3002\u7136\u800c\uff0c\u4e00\u79cd\u66f4\u5177\u521b\u65b0\u6027\u7684\u7b56\u7565\u2014\u2014\u6536\u76ca\u8015\u4f5c\uff08yield farming\uff09\u2014\u2014\u5438\u5f15\u4e86\u7cbe\u660e\u4ea4\u6613\u8005\u7684\u5173\u6ce8\u3002\u8fd9\u79cd\u4e0d\u540c\u4e8e\u4f20\u7edf\u4ea4\u6613\u7684\u65b9\u5f0f\uff0c\u4f7f\u4ea4\u6613\u8005\u80fd\u591f\u901a\u8fc7\u79ef\u6781\u53c2\u4e0e\u53bb<\/span>\u4e2d\u5fc3\u5316\u91d1\u878d (DeFi) \u751f\u6001\u7cfb\u7edf<\/span><\/a>\u6765\u63a2\u7d22\u6536\u76ca\u3002\u672c\u6587\u5c06\u63a2\u8ba8\u6536\u76ca\u8015\u4f5c\u7684\u7ec6\u5fae\u5dee\u522b\uff0c\u63ed\u793a\u5176\u673a\u5236\u548c\u6f5c\u5728\u4f18\u52bf\u3002<\/span><\/p>\n

\u4e86\u89e3\u66f4\u591a<\/span><\/span><\/a><\/div>\n

\u4ec0\u4e48\u662f\u6536\u76ca\u519c\u4e1a\uff1f<\/span><\/h2>\n

\u7b80\u800c\u8a00\u4e4b\uff0c\u6536\u76ca\u5c31\u662f\u5229\u606f\uff0c\u7c7b\u4f3c\u4e8e\u94f6\u884c\u6216\u91d1\u878d\u673a\u6784\u5bf9\u9501\u5b9a\u50a8\u84c4\u63d0\u4f9b\u7684\u5229\u606f\u3002\u5728\u201c\u6316\u77ff\u201d\u4e2d\uff0c\u4ea4\u6613\u8005\u53ef\u4ee5\u91c7\u7528\u591a\u79cd\u7b56\u7565\u6765\u6700\u5927\u5316\u6536\u76ca\uff08\u5229\u606f\uff09\u3002\u7531\u4e8e\u6536\u76ca\u6316\u77ff\u6bd4\u4f20\u7edf\u91d1\u878d\u66f4\u5177\u7075\u6d3b\u6027\uff0c\u5b83\u88ab\u6574\u5408\u5230<\/span>DeFi\u9886\u57df\u3002<\/span><\/a>\u6536\u76ca\u6316\u77ff\u4e0e\u4f20\u7edf\u5229\u606f\u7b56\u7565\u7684\u4e00\u4e2a\u4e3b\u8981\u533a\u522b\u5728\u4e8e\u5176\u6536\u76ca\uff0c\u6536\u76ca\u4ee5\u6ce2\u52a8\u6027\u8f83\u9ad8\u7684\u52a0\u5bc6\u8d44\u4ea7\u7684\u5f62\u5f0f\u5448\u73b0\u3002\u6536\u76ca\u6316\u77ff\uff0c\u4e5f\u79f0\u4e3a\u6d41\u52a8\u6027\u6316\u77ff\uff0c\u662f\u6307\u901a\u8fc7DeFi\u534f\u8bae<\/span>\u5c06\u52a0\u5bc6\u8d27\u5e01\u501f\u5165\u3001\u501f\u5165\u6216\u8d28\u62bc\u5230\u6d41\u52a8\u6027\u6c60\uff08LP\uff09\u4e2d\uff0c<\/span><\/a>\u4ee5\u6f5c\u5728\u5730\u83b7\u5f97\u9ad8\u989d\u56de\u62a5<\/span><\/a>\u3002\u6536\u76ca\u6316\u77ff\u5e76\u975e\u4f7f\u7528\u94f6\u884c\u7b49\u4e13\u6709\u670d\u52a1\uff0c\u800c\u662f\u4f7f\u7528\u533a\u5757\u94fe\u7f51\u7edc\u4e0a\u7684\u667a\u80fd\u5408\u7ea6\u6765\u6267\u884c\u3002\u7528\u6237\u53ef\u4ee5\u501f\u51fa\u52a0\u5bc6\u8d44\u4ea7\u4ee5\u8d5a\u53d6\u56fa\u5b9a\u6216\u6d6e\u52a8\u5229\u606f\uff0c\u800c\u5176\u4ed6\u4eba\u53ef\u4ee5\u501f\u5165\u8fd9\u4e9b\u8d44\u4ea7\u7528\u4e8e\u5176\u4ed6\u7528\u9014\u3002DeFi\u9879\u76ee\u4e5f\u5229\u7528\u6536\u76ca\u6316\u77ff\u6765\u9f13\u52b1\u5e73\u53f0\u7684\u91c7\u7528\uff0c\u5e76\u8868\u5f70\u793e\u533a\u6210\u5458\u63d0\u4f9b\u7684\u6d41\u52a8\u6027\u2014\u2014\u8fd9\u662f\u8bb8\u591aDeFi\u5e73\u53f0\u53ef\u6301\u7eed\u53d1\u5c55\u7684\u5173\u952e\u8981\u7d20\u3002<\/span><\/p>\n

\u6536\u76ca\u8015\u4f5c\u662f\u5982\u4f55\u5f00\u59cb\u7684<\/span><\/b><\/h3>\n

\u5927\u591a\u6570\u6536\u76ca\u8015\u4f5c\u90fd\u5728\u4ee5\u592a\u574a\u7f51\u7edc<\/span><\/a>\u4e0a\u8fdb\u884c\u3002\u8fd9\u662f\u7531\u4e8e\u8be5\u7f51\u7edc\u4f5c\u4e3a<\/span>\u667a\u80fd\u5408\u7ea6\u7f51\u7edc<\/span><\/a>\u7684\u5148\u53d1\u4f18\u52bf\uff08FMA\uff09 \uff0c\u4ee5\u53ca\u4e0e\u6bd4\u7279\u5e01\u7f51\u7edc\u76f8\u6bd4\u7684\u6d41\u52a8\u6027\u548c\u5f00\u653e\u6027\u3002<\/span><\/p>\n

\u7136\u800c\uff0c\u8fd9\u4e00\u6982\u5ff5\u8d77\u6e90\u4e8e2020\u5e746\u6708\uff0c\u5f53\u65f6\u57fa\u4e8e\u4ee5\u592a\u574a\u7684\u4ea7\u54c1\u201cCompound\u201d\u63a8\u51fa\u4e86\u8fd9\u9879\u670d\u52a1\uff0c\u5e76\u5c06\u5176<\/span>\u539f\u751f\u4ee3\u5e01COMP\u5206<\/span><\/a>\u53d1\u7ed9\u7528\u6237\u3002COMP\u4f5c\u4e3a\u4e00\u79cd\u6cbb\u7406\u4ee3\u5e01\uff0c\u6301\u6709\u8005\u53ef\u4ee5\u5728Compound\u5e73\u53f0\u4e0a\u5bf9\u62df\u8bae\u9879\u76ee\u8fdb\u884c\u6295\u7968\u3002COMP\u4ee3\u5e01\u7684\u9700\u6c42\u968f\u4e4b\u4e0a\u5347\uff0c\u5f15\u53d1\u4e86\u70ed\u8bae\uff0c\u5e76\u4f7f\u5176\u5728\u5f53\u65f6\u7684\u91d1\u878d\u9886\u57df\u5360\u636e\u9886\u5148\u5730\u4f4d\u3002<\/span><\/p>\n

\u4e0d\u4e45\u4e4b\u540e\uff0c\u4ea4\u6613\u5458\u5f00\u59cb\u901a\u8fc7\u4ee5\u592a\u574a\u7f51\u7edc\u501f\u51fa\u52a0\u5bc6\u8d44\u4ea7\u5e76\u83b7\u5f97\u5229\u606f\u56de\u62a5\u2014\u2014\u8fd9\u521b\u9020\u4e86\u201c\u6536\u76ca\u519c\u4e1a\u201d\u4e00\u8bcd\u3002<\/span><\/p>\n

\u6536\u76ca\u8015\u4f5c\u5982\u4f55\u8fd0\u4f5c\uff1f<\/span><\/h2>\n

\u6d41\u52a8\u6027\u6316\u77ff\u7684\u67b6\u6784\u53ef\u4ee5\u7b80\u5355\u5206\u89e3\u3002\u4ea4\u6613\u8005\u9996\u5148\u5411\u6d41\u52a8\u6027\u6c60\u6dfb\u52a0\u6216\u5b58\u5165\u8d44\u91d1\uff0c\u8be5\u6c60\u4ee5 DeFi \u534f\u8bae\u4e0a\u7684\u667a\u80fd\u5408\u7ea6\u5f62\u5f0f\u5b58\u5728\u3002\u6d41\u52a8\u6027\u6c60\u975e\u5e38\u91cd\u8981\uff0c\u56e0\u4e3a\u5b83\u4eec\u5145\u5f53\u53bb\u4e2d\u5fc3\u5316\u8d27\u5e01\u5e02\u573a\uff0c\u4f7f\u4ea4\u6613\u8005\u80fd\u591f\u901a\u8fc7<\/span>\u53bb\u4e2d\u5fc3\u5316\u5e94\u7528\u7a0b\u5e8f (DApp)<\/span><\/a>\u65e0\u7f1d\u5730\u5151\u6362\u3001\u501f\u51fa\u6216\u501f\u5165\u4ee3\u5e01\u3002<\/span><\/p>\n

\u4e00\u65e6\u8d44\u91d1\u6210\u529f\u52a0\u5165\u8d44\u91d1\u6c60\uff0c<\/span>\u4ea4\u6613\u8005\u5373\u6b63\u5f0f\u6210\u4e3a\u6d41\u52a8\u6027\u63d0\u4f9b\u8005 (LP)<\/span><\/a>\u3002\u5176\u4ed6\u4ea4\u6613\u8005\u53ef\u4ee5\u501f\u5165\u6d41\u52a8\u6027\u6216\u589e\u6301\uff0c\u4ee5\u6355\u6349\u5e02\u573a\u5927\u5e45\u6ce2\u52a8\u7684\u673a\u4f1a\u3002LP \u968f\u540e\u5c06\u901a\u8fc7\u5176\u8d44\u91d1\u6c60\u4ea7\u751f\u7684\u8d39\u7528\u83b7\u5f97\u6d41\u52a8\u6027\u63d0\u4f9b\u7684\u5956\u52b1\u3002<\/span><\/p>\n

\u5176\u4ed6\u76c8\u5229\u65b9\u5f0f\u5305\u62ec\u501f\u8d37\u5229\u606f\u4ee5\u53ca\u52a0\u5165<\/span>\u6743\u76ca\u8bc1\u660e (PoS) \u6d41\u52a8\u6027\u6c60\u7684<\/span><\/a>\u6536\u76ca\u3002\u5728\u6536\u76ca\u6316\u77ff\u4e2d\uff0c\u4ea4\u6613\u8005\u53ef\u4ee5\u83b7\u5f97\u9ad8\u8fbe 100% \u7684\u5e74\u6536\u76ca\u7387 (APY)\uff0c\u5177\u4f53\u53d6\u51b3\u4e8e\u534f\u8bae\u3002\u4f46\u8fd9\u4e2a\u6536\u76ca\u7387\u662f\u4e0d\u56fa\u5b9a\u7684\uff0c\u53ef\u80fd\u4f1a\u6839\u636e\u8d44\u4ea7\u4ea4\u6613\u91cf\u800c\u53d8\u5316\u3002<\/span><\/p>\n

\u6536\u76ca\u8015\u4f5c\u6307\u6807<\/span><\/b><\/h3>\n

\u4e0e\u6240\u6709\u4ee5\u91d1\u878d\u4e3a\u652f\u6491\u7684\u4f01\u4e1a\u4e00\u6837\uff0c\u6d41\u52a8\u6027\u6316\u77ff\u4e5f\u6709\u5176\u81ea\u8eab\u7684\u4e00\u5957\u672f\u8bed\u3002\u867d\u7136\u8bb8\u591a\u8bfb\u8005\u53ef\u80fd\u5bf9\u8fd9\u4e9b\u672f\u8bed\u611f\u5230\u719f\u6089\uff0c\u4f46\u5b83\u4eec\u7684\u7528\u6cd5\u4e0e\u5e38\u89c4\u7528\u6cd5\u7565\u6709\u4e0d\u540c\u3002\u4e0b\u6587\u5c06\u63a2\u8ba8\u6700\u6d41\u884c\u7684\u6d41\u52a8\u6027\u6316\u77ff\u6307\u6807\u53ca\u5176\u542b\u4e49\u3002<\/span><\/p>\n

\u5e74\u5229\u7387\uff08APR\uff09<\/span><\/b><\/h4>\n

\u5e74\u5229\u7387 (APR)<\/span><\/a>\u662f\u4ee5\u767e\u5206\u6bd4\u8868\u793a\u7684\u56de\u62a5\u7387\u3002APR \u662f\u4ea4\u6613\u8005\u5c06\u5176\u52a0\u5bc6\u8d27\u5e01\u4ee3\u5e01\u7528\u4e8e\u8d37\u6b3e\u65f6\u53ef\u83b7\u5f97\u7684\u5229\u606f\u5956\u52b1\u3002<\/span><\/p>\n

\u6b64\u5916\uff0cAPR \u8fd8\u4e3a\u6536\u76ca\u519c\u6237\u63d0\u4f9b\u4e86\u4e00\u4e2a\u4e0e\u5176\u4ed6\u534f\u8bae\u7684\u5229\u7387\u8fdb\u884c\u6bd4\u8f83\u7684\u6570\u5b57\u3002APR \u4e0d\u8003\u8651\u4e00\u5e74\u5185\u590d\u5408\u6301\u4ed3\u7684\u6536\u76ca\u3002<\/span><\/p>\n

\u5e74\u6536\u76ca\u7387\uff08APY\uff09<\/span><\/b><\/h4>\n

\u5e74\u6536\u76ca\u7387 (APY) \u662f\u4ee5\u767e\u5206\u6bd4\u8868\u793a\u7684\u5e74\u590d\u5408\u6536\u76ca\u3002APY \u5305\u62ec\u521d\u59cb\u672c\u91d1\u7684\u590d\u5229\u548c\u672c\u91d1\u7684\u7d2f\u8ba1\u5229\u606f\u3002<\/span><\/p>\n

\u7b80\u5355\u6765\u8bf4\uff0cAPY \u8868\u793a\u5229\u606f\u6240\u5f97\u7684\u5229\u606f\u3002\u8fd9\u610f\u5473\u7740\u83b7\u5f97\u7684\u5229\u7387\u4f1a\u81ea\u52a8\u8ba1\u5165\u4e0b\u4e00\u4e2a\u5229\u7387\u7684\u8ba1\u7b97\u4e2d\u3002<\/span><\/p>\n

\u603b\u9501\u5b9a\u4ef7\u503c\uff08TVL\uff09<\/span><\/b><\/h4>\n

\u603b\u9501\u5b9a\u4ef7\u503c (TVL) \u662f\u6307\u4ea4\u6613\u8005\u5728 DApp \u4e2d\u9501\u5b9a\u7684\u8d44\u91d1\u603b\u989d\uff0c\u9884\u671f\u5c06\u4ee5\u4ee3\u5e01\u5f62\u5f0f\u83b7\u5f97\u5956\u52b1\u3002\u5bf9\u4e8e\u5927\u591a\u6570 DeFi \u534f\u8bae\u800c\u8a00\uff0c\u6536\u76ca\u6316\u77ff\u662f\u521b\u9020\u9ad8\u6d41\u52a8\u6027\u7684\u597d\u65b9\u6cd5\uff0c\u5c24\u5176\u9002\u7528\u4e8e\u4f4e\u4ea4\u6613\u91cf\u8d44\u4ea7\u3002<\/span><\/p>\n

DeFi \u534f\u8bae\u7684\u6210\u529f\u53d6\u51b3\u4e8e\u5176\u9501\u5b9a\u7684\u603b\u4ef7\u503c\u3002\u603b\u9501\u5b9a\u4ef7\u503c (TVL) \u8d8a\u9ad8\uff0c\u9501\u5b9a\u7684\u8d44\u91d1\u5c31\u8d8a\u591a\u3002<\/span><\/p>\n

\u6d41\u52a8\u6027\u6316\u77ff\u7684\u7c7b\u578b<\/span><\/h2>\n

\u4ea4\u6613\u8005\u53ef\u4ee5\u901a\u8fc7\u56db\u79cd\u65b9\u5f0f\u53c2\u4e0e\u6536\u76ca\u8015\u4f5c\uff0c\u4ee5\u6700\u5927\u5316\u5176\u52a0\u5bc6\u8d27\u5e01\u56de\u62a5\u3002<\/span><\/p>\n

1. \u6d41\u52a8\u6027\u63d0\u4f9b\u8005<\/span><\/h3>\n

\u6d41\u52a8\u6027\u63d0\u4f9b\u8005\u662f\u6307\u5c06\u6700\u591a\u4e24\u79cd\u52a0\u5bc6\u8d27\u5e01\u5b58\u5165\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\uff0c\u4ee5\u63d0\u4f9b\u6807\u7684\u8d44\u4ea7\u6d41\u52a8\u6027\u7684\u4ea4\u6613\u8005\u3002\u5f53\u5176\u4ed6\u4ea4\u6613\u8005\u5728\u53bb\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u4ea4\u6613\u8fd9\u4e24\u79cd\u52a0\u5bc6\u4ee3\u5e01\u6216\u8d27\u5e01\u65f6\uff0c\u6d41\u52a8\u6027\u63d0\u4f9b\u8005\u5c06\u4ee5\u4ea4\u6613\u8d39\u7684\u4e00\u5c0f\u90e8\u5206\u5f62\u5f0f\u83b7\u5f97\u5229\u606f\u3002<\/span><\/p>\n

2. \u501f\u8d37<\/span><\/h3>\n

\u6709\u610f\u53c2\u4e0e\u6536\u76ca\u8015\u4f5c\u7684\u4ea4\u6613\u8005<\/span><\/a>\u53ef\u4ee5\u9009\u62e9\u501f\u8d37\u6765\u8d5a\u53d6\u989d\u5916\u6536\u5165\u3002\u4ea4\u6613\u8005\u53ef\u4ee5\u4f7f\u7528\u667a\u80fd\u5408\u7ea6\u5c06\u5176\u52a0\u5bc6\u8d44\u4ea7\u501f\u7ed9\u501f\u6b3e\u4eba\u3002\u5f53\u501f\u6b3e\u4eba\u507f\u8fd8\u8d37\u6b3e\u65f6\uff0c\u5c06\u83b7\u5f97\u4e00\u5b9a\u6bd4\u4f8b\u7684\u5229\u606f\u4f5c\u4e3a\u6536\u76ca\u3002<\/span><\/p>\n

3.<\/span>\u501f\u6b3e<\/span><\/b><\/h3>\n

\u501f\u8d37\u662f\u6536\u76ca\u6316\u77ff\u9886\u57df\u53e6\u4e00\u4e2a\u503c\u5f97\u5173\u6ce8\u7684\u9009\u9879\u3002\u4ea4\u6613\u8005\u53ef\u4ee5\u9009\u62e9\u5c06\u5176\u8d44\u4ea7\u9501\u5b9a\u4e3a\u62b5\u62bc\u54c1\uff0c\u4ee5\u501f\u5165\u5176\u4ed6\u4ee3\u5e01\u6216\u52a0\u5bc6\u8d27\u5e01\u3002\u501f\u5165\u7684\u8d44\u4ea7\u968f\u540e\u53ef\u7528\u4e8e\u53c2\u4e0e\u5176\u4ed6\u6536\u76ca\u6316\u77ff\u9009\u9879\u3002<\/span><\/p>\n

4.<\/span>\u8d28\u62bc<\/span><\/b><\/h3>\n

\u5bf9\u4e8e\u52a0\u5bc6\u8d27\u5e01\u65b0\u624b\u6216\u4e2d\u7ea7\u4ea4\u6613\u8005\u6765\u8bf4\uff0c\u8d28\u62bc\u53ef\u4ee5\u8bf4\u662f\u6700\u7b80\u5355\u6613\u884c\u7684\u6536\u76ca\u6316\u77ff\u5f62\u5f0f<\/span><\/a>\u3002\u8d28\u62bc\u662f\u6307\u5c06\u52a0\u5bc6\u8d44\u4ea7\u9501\u5b9a\u4e00\u6bb5\u9650\u5b9a\u6216\u4e0d\u9650\u5b9a\u7684\u65f6\u95f4\uff0c\u4ee5\u5229\u606f\u6216\u521d\u59cb\u8d28\u62bc\u7684\u989d\u5916\u4ee3\u5e01\u5f62\u5f0f\u83b7\u5f97\u5956\u52b1\u3002\u8d28\u62bc\u7684\u76ee\u7684\u662f\u4e3a\u4e86\u4fdd\u969c\u5e95\u5c42\u7f51\u7edc\u7684\u5b89\u5168\uff0c\u56e0\u4e3a\u8d28\u62bc\u7684\u8d44\u91d1\u4f1a\u88ab\u8bb0\u5f55\u4e3a\u533a\u5757\u94fe\u534f\u8bae\u4e0a\u7684\u4ea4\u6613\u3002<\/span><\/p>\n

\u8d28\u62bc\u901a\u5e38\u901a\u8fc7\u8d44\u91d1\u6c60\u8fdb\u884c\uff0c\u4f46\u50cf\u5e01\u5b89\u8fd9\u6837\u7684\u51e0\u4e2a\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u4e3a\u4ea4\u6613\u8005\u63d0\u4f9b\u4e86\u4e00\u79cd\u7b80\u5316\u7684\u65b9\u5f0f\u6765\u8d28\u62bc\u5176\u95f2\u7f6e\u7684\u52a0\u5bc6\u8d44\u4ea7\u3002<\/span><\/p>\n

\u6536\u76ca\u8015\u4f5c\u7684\u98ce\u9669<\/span><\/h2>\n

\u867d\u7136\u6d41\u52a8\u6027\u6316\u77ff\u5728\u52a0\u5bc6\u8d27\u5e01\u9886\u57df\u7684\u6f5c\u529b\u5df2\u5f97\u5230\u8ba4\u53ef\uff0c\u4f46\u5fc5\u987b\u8ba4\u8bc6\u5230\u5176\u56fa\u6709\u7684\u98ce\u9669\u3002\u5c3d\u7ba1\u6d41\u52a8\u6027\u6316\u77ff\u5e26\u6765\u4e86\u8bf8\u591a\u673a\u9047\uff0c\u4f46\u4ecd\u5b58\u5728\u4e00\u4e9b\u91cd\u8981\u7684\u8003\u91cf\u56e0\u7d20\u548c\u6f5c\u5728\u6311\u6218\uff0c\u9700\u8981\u4ed4\u7ec6\u8bc4\u4f30\u3002\u672c\u8282\u5c06\u63a2\u8ba8\u6d41\u52a8\u6027\u6316\u77ff\u76f8\u5173\u7684\u5404\u79cd\u98ce\u9669\u3002<\/span><\/p>\n

\u6325\u53d1\u6027<\/span><\/b><\/h3>\n

\u7531\u4e8e\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u6ce2\u52a8\u5267\u70c8\uff0c\u4ea4\u6613\u8005\u5b58\u5165\u6d41\u52a8\u6027\u6c60\u7684\u4ee3\u5e01\u4ef7\u503c\u4e5f\u4f1a\u968f\u65f6\u95f4\u6ce2\u52a8\u3002\u5373\u4f7f\u67d0\u4e2a\u52a0\u5bc6\u8d44\u4ea7\u7684\u5e74\u5316\u6536\u76ca\u7387 (APY) \u9884\u4f30\u4e3a 1,000%\uff0c\u4ea4\u6613\u8005\u4e5f\u59cb\u7ec8\u9700\u8981\u5bc4\u5e0c\u671b\u4e8e\u8be5\u8d44\u4ea7\u80fd\u591f\u7ef4\u6301\u5176\u521d\u59cb\u4ef7\u503c\uff0c\u624d\u80fd\u83b7\u5f97\u9884\u671f\u7684\u5e74\u5316\u6536\u76ca\u7387\u3002<\/span><\/p>\n

\u65e0\u5e38\u635f\u5931<\/span><\/b><\/h3>\n

\u6536\u76ca\u6316\u77ff\u53ef\u80fd\u4f1a\u5bfc\u81f4\u5df2\u5b58\u5165\u7684\u52a0\u5bc6\u8d44\u4ea7\u6536\u76ca\u5927\u5e45\u4e0b\u8dcc\uff0c\u4ece\u800c\u9020\u6210\u5de8\u989d\u635f\u5931\u3002\u8fd9\u4e3b\u8981\u662f\u7531\u4e8e\u65e0\u5e38\u635f\u5931\u3002\u5f53\u8d44\u4ea7\u4ecd\u88ab\u9501\u5b9a\u5728\u6d41\u52a8\u6027\u6c60\u4e2d\u65f6\uff0c\u7531\u4e8e\u5e02\u573a\u6ce2\u52a8\u800c\u4ef7\u503c\u4e0b\u8dcc\uff0c\u5c31\u4f1a\u51fa\u73b0\u8fd9\u79cd\u73b0\u8c61\u3002<\/span><\/p>\n

\u7b80\u5355\u6765\u8bf4\uff0c\u5f53\u4ea4\u6613\u8005\u60f3\u8981\u64a4\u8d44\u65f6\uff0c\u4ed6\u4eec\u83b7\u5f97\u7684\u8d44\u4ea7\u7f8e\u5143\u4f30\u503c\u4f1a\u8f83\u4f4e\u3002<\/span><\/p>\n

\u8bc8\u9a97<\/span><\/b><\/h3>\n

DeFi \u9886\u57df\u7f3a\u4e4f\u76d1\u7ba1\uff0c\u9a97\u5b50\u5f88\u5bb9\u6613\u7f16\u5199\u865a\u5047\u5e73\u53f0\uff0c\u5411\u6f5c\u5728\u4ea4\u6613\u8005\u627f\u8bfa\u9ad8\u5e74\u5316\u6536\u76ca\u3002DeFi \u5e73\u53f0\u521b\u5efa\u8005\u5438\u8d70\u4ea4\u6613\u8005\u7684\u5b58\u6b3e\u540e\u5c31\u6d88\u5931\u4e0d\u89c1\u4e86\uff0c\u8fd9\u5b9e\u9645\u4e0a\u5c31\u662f\u5728\u8fdb\u884c\u201c\u5730\u6bef\u5f0f\u62c9\u62e2\u201d\u3002\u4e3a\u4e86\u907f\u514d\u8fd9\u79cd\u60c5\u51b5\uff0c\u5728\u4f7f\u7528\u6536\u76ca\u6316\u77ff\u534f\u8bae\u4e4b\u524d\u5e94\u8be5\u8fdb\u884c\u57fa\u7840\u7814\u7a76\u3002<\/span><\/p>\n

\u4e09\u5927\u6536\u76ca\u8015\u4f5c\u534f\u8bae<\/span><\/h2>\n

\u6709\u6570\u767e\u4e2a DeFi \u534f\u8bae\u63d0\u4f9b\u6536\u76ca\u6316\u77ff\u670d\u52a1\u3002\u4ee5\u4e0b\u5217\u4e3e\u4e00\u4e9b\u6700\u77e5\u540d\u3001\u89c4\u6a21\u6700\u5927\u7684\u534f\u8bae\u3002<\/span><\/p>\n

\u5316\u5408\u7269\uff08COMP\uff09<\/span><\/b><\/h3>\n

COMP \u662f\u90e8\u7f72\u5728\u4ee5\u592a\u574a\u533a\u5757\u94fe\u4e0a\u7684\u7b97\u6cd5\u534f\u8bae<\/span><\/a>\u3002\u5b83\u5141\u8bb8\u4ee5\u62b5\u62bc\u54c1\u8fdb\u884c\u52a0\u5bc6\u8d44\u4ea7\u7684\u501f\u8d37\u3002Compound \u5141\u8bb8\u4ea4\u6613\u8005\u6839\u636e\u5176\u6d41\u52a8\u6027\u6c60\u4e2d\u7684\u6d3b\u52a8\u8d5a\u53d6\u5229\u7387\u3002<\/span><\/p>\n

\u6536\u76ca\u519c\u6c11\u4e5f\u6709\u673a\u4f1a\u83b7\u5f97\u5176\u6cbb\u7406\u4ee3\u5e01\u2014\u2014COMP\u3002<\/span><\/p>\n

\u975e\u6d32\u88d4\u7f8e\u56fd\u4eba\u548c\u975e\u6d32\u88d4\u7f8e\u56fd\u4eba<\/span><\/b><\/h3>\n

AAVE \u662f\u4e00\u4e2a\u8fd0\u884c\u5728\u4ee5\u592a\u574a\u533a\u5757\u94fe\u4e0a\u7684\u53bb\u4e2d\u5fc3\u5316\u501f\u8d37\u534f\u8bae<\/span><\/a>\u3002\u5b83\u96c6\u6210\u4e86\u667a\u80fd\u5408\u7ea6\u6765\u7b80\u5316\u6d41\u7a0b\uff0c\u5e76\u9884\u8bbe\u4e86\u52a0\u5bc6\u8d44\u4ea7\u5206\u914d\u3001\u4ea4\u6613\u8d39\u7528\u8bc4\u4f30\u548c\u62b5\u62bc\u54c1\u5904\u7406\u7b49\u89c4\u5219\u3002\u8be5\u534f\u8bae\u8fd8\u5305\u542b\u4e00\u4e2a\u6cbb\u7406\u4ee3\u5e01 AAVE\uff0c\u53ef\u4ee5\u5728\u5927\u591a\u6570\u53bb\u4e2d\u5fc3\u5316\u548c\u4e2d\u5fc3\u5316\u4ea4\u6613\u6240\u8fdb\u884c\u4ea4\u6613\uff0c\u4e5f\u53ef\u4ee5\u5728 Aave \u534f\u8bae\u4e2d\u8d28\u62bc\u8d5a\u53d6\u5229\u606f\u3002<\/span><\/p>\n

Yearn.Finance\uff08YFI\uff09<\/span><\/b><\/h3>\n

\u4e0e COMP \u548c AAVE \u4e00\u6837\uff0c<\/span>Yearn.Finance \u662f\u4e00\u7ec4\u57fa\u4e8e\u4ee5\u592a\u574a\u533a\u5757\u94fe\u7684\u534f\u8bae<\/span><\/a>\uff0c\u4f7f\u7528\u6237\u80fd\u591f\u901a\u8fc7\u4e00\u7cfb\u5217\u501f\u8d37\u548c\u4ea4\u6613\u670d\u52a1\uff08\u4ece Earn \u548c APY \u6570\u636e\u8868\u5230 Vault \u548c Zap \u4ea4\u6613\u5e73\u53f0\uff09\u6765\u4f18\u5316\u5176\u52a0\u5bc6\u8d27\u5e01\u6301\u6709\u7684\u56de\u62a5\u3002<\/span><\/p>\n

\u6b64\u5916\uff0c\u5b83\u8fd8\u96c6\u6210\u4e86\u539f\u751f\u4ee3\u5e01 YFI\uff0c\u7528\u4e8e\u6fc0\u52b1\u4ea4\u6613\u8005\u3002<\/span><\/p>\n

\u7ed3\u8bed<\/span><\/h2>\n

\u5728\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u4e2d\u505a\u51fa\u660e\u667a\u7684\u51b3\u7b56\u5e76\u975e\u6613\u4e8b\u3002\u6536\u76ca\u8015\u4f5c (Yield Farming) \u5e94\u8fd0\u800c\u751f\uff0c\u6210\u4e3a\u4e00\u4e2a\u6781\u5177\u5438\u5f15\u529b\u7684\u9009\u62e9\uff0c\u5b83\u4e0d\u4ec5\u7b26\u5408\u4ea4\u6613\u8005\u7684\u6700\u4f73\u5229\u76ca\uff0c\u8fd8\u80fd\u63d0\u4f9b\u6f5c\u5728\u7684\u56de\u62a5\u3002\u7136\u800c\uff0c\u81f3\u5173\u91cd\u8981\u7684\u662f\uff0c\u66f4\u9ad8\u7684\u6f5c\u5728\u6536\u76ca\u4e0e\u66f4\u9ad8\u7684\u6ce2\u52a8\u6027\u76f8\u4f34\u800c\u751f\u3002\u968f\u7740\u52a0\u5bc6\u8d27\u5e01\u4ea4\u6613\u8005\u63a2\u7d22\u6536\u76ca\u8015\u4f5c\u7684\u53ef\u80fd\u6027\uff0c\u5bf9\u76f8\u5173\u98ce\u9669\u548c\u56de\u62a5\u4fdd\u6301\u7ec6\u81f4\u7684\u7406\u89e3\uff0c\u662f\u5728\u8fd9\u4e2a\u5145\u6ee1\u6d3b\u529b\u7684\u52a0\u5bc6\u8d27\u5e01\u4e16\u754c\u4e2d\u505a\u51fa\u660e\u667a\u51b3\u7b56\u7684\u5173\u952e\u3002<\/span><\/p>\n

\u4e86\u89e3\u66f4\u591a<\/span><\/span><\/a><\/div>\n

\u5e38\u89c1\u95ee\u9898\u89e3\u7b54<\/span><\/h2>\n

\u6536\u76ca\u8015\u4f5c\u662f\u4e00\u4e2a\u660e\u667a\u7684\u9009\u62e9\u5417\uff1f<\/span><\/b><\/h3>\n

\u6536\u76ca\u6316\u77ff\u786e\u5b9e\u4e3a\u52a0\u5bc6\u8d27\u5e01\u9886\u57df\u5e26\u6765\u4e86\u673a\u9047\uff0c\u5176\u5e74\u6536\u76ca\u7387\u3001\u5229\u7387\u548c\u4ee3\u5e01\u5956\u52b1\u90fd\u975e\u5e38\u8bf1\u4eba\u3002\u7136\u800c\uff0c\u5fc5\u987b\u8ba4\u8bc6\u5230\u52a0\u5bc6\u8d44\u4ea7\u7684\u5185\u5728\u6ce2\u52a8\u6027\u3002\u56e0\u6b64\uff0c\u7528\u6237\u5e94\u8c28\u614e\u5bf9\u5f85\u6536\u76ca\u6316\u77ff\uff0c\u5e76\u53ea\u6295\u5165\u80fd\u591f\u627f\u53d7\u635f\u5931\u7684\u8d44\u91d1\u3002<\/span><\/p>\n

\u4f60\u80fd\u901a\u8fc7\u6536\u76ca\u8015\u4f5c\u4ea7\u751f\u6536\u5165\u5417\uff1f<\/span><\/b><\/h3>\n

\u53c2\u4e0e\u8005\uff08\u6d41\u52a8\u6027\u63d0\u4f9b\u8005\uff09\u53ef\u4ee5\u901a\u8fc7\u53c2\u4e0e\u83b7\u5f97\u4e30\u539a\u7684\u5e74\u6536\u76ca\u7387\uff0c\u901a\u5e38\u8d85\u8fc7 100%\u3002\u6d41\u52a8\u6027\u6316\u77ff\u7684\u53e6\u4e00\u4e2a\u4f18\u52bf\u5728\u4e8e\uff0c\u5b83\u901a\u8fc7\u667a\u80fd\u5408\u7ea6\u8fd0\u4f5c\uff0c\u65e0\u9700\u4e2d\u4ecb\u673a\u6784\u6216\u7b2c\u4e09\u65b9\u3002\u6b64\u5916\uff0c\u8be5\u673a\u5236\u5141\u8bb8\u7528\u6237\u5229\u7528\u501f\u5165\u7684\u4ee3\u5e01\u5728\u5176\u4ed6\u5e73\u53f0\u4e0a\u83b7\u5f97\u6536\u76ca\uff0c\u4ece\u800c\u8d5a\u53d6\u5229\u606f\u3002\u9700\u8981\u6ce8\u610f\u7684\u662f\uff0c\u5c3d\u7ba1\u5b58\u5728\u8fd9\u4e9b\u53ef\u80fd\u6027\uff0c\u4f46\u53c2\u4e0e\u8005\u5728\u53c2\u4e0e\u6d41\u52a8\u6027\u6316\u77ff\u65f6\uff0c\u5e94\u8be5\u5bf9\u76f8\u5173\u98ce\u9669\u548c\u5e02\u573a\u6ce2\u52a8\u6709\u5207\u5408\u5b9e\u9645\u7684\u7406\u89e3\u3002\u5728\u5f00\u59cb\u4efb\u4f55\u52a0\u5bc6\u8d27\u5e01\u6d3b\u52a8\u4e4b\u524d\uff0c\u8bf7\u52a1\u5fc5<\/span>\u81ea\u884c\u505a\u597d\u7814\u7a76\uff08DYOR\uff09 \u3002<\/span><\/a><\/p>\n

\u6536\u76ca\u8015\u4f5c\u4e0e\u8d28\u62bc\uff1a\u6709\u4f55\u533a\u522b\uff1f<\/span><\/b><\/h3>\n

\u6536\u76ca\u6316\u77ff\u662f\u6307\u5728\u591a\u4e2a\u4ea4\u6613\u5bf9\u4e0a\u8d5a\u53d6\u5229\u606f\uff0c\u800c\u8d28\u62bc\u5219\u9700\u8981\u5b58\u5165\u5355\u4e00\u52a0\u5bc6\u8d44\u4ea7\u3002\u4e24\u8005\u7684\u4e3b\u8981\u533a\u522b\u5728\u4e8e\u5229\u7387\uff0c\u6536\u76ca\u6316\u77ff\u7684\u5229\u7387\u901a\u5e38\u9ad8\u4e8e\u8d28\u62bc\u3002<\/span><\/p>\n

\u6536\u76ca\u8015\u4f5c\u7684\u98ce\u9669\u662f\u4ec0\u4e48\uff1f<\/span><\/b><\/h3>\n

\u867d\u7136\u6d41\u52a8\u6027\u6316\u77ff\u6709\u5f88\u591a\u597d\u5904\uff0c\u4f46\u4e5f\u5e76\u975e\u6ca1\u6709\u98ce\u9669\u3002\u6f5c\u5728\u7684\u6311\u6218\u5305\u62ec\u65e0\u5e38\u635f\u5931\u3001\u865a\u5047 DeFi \u667a\u80fd\u5408\u7ea6\u7684\u5b58\u5728\u3001\u6ce2\u52a8\u7684\u501f\u8d37\u5229\u7387\u3001\u52a0\u5bc6\u8d44\u4ea7\u7684\u6ce2\u52a8\u6027\u7b49\u7b49\u3002\u8fd9\u79cd\u9ad8\u98ce\u9669\u7b56\u7565\u9700\u8981\u8c28\u614e\u8003\u8651\uff0c\u5c24\u5176\u662f\u5728\u718a\u5e02\u671f\u95f4\uff0c\u56e0\u4e3a\u4ef7\u683c\u6ce2\u52a8\u53ef\u80fd\u5bfc\u81f4\u5927\u5e45\u6ed1\u70b9\u3001\u667a\u80fd\u5408\u7ea6\u88ab\u6e05\u7b97\u6216\u65e0\u5e38\u635f\u5931\u3002<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

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